Banking and its Clients as the Center of its Business
By Mario A. Beroes Ríos – IT Business Solutions.
For many financial institutions, the client is the center of the business. Customer Centricity has been an emerging concept for several years now.
The business world at all levels has understood that both a good experience and a close, consultative relationship with the client result in a competitive advantage. However, many organizations still encounter barriers and obstacles to configuring this equation in a functional way.
Evolving Clients
Over the years, customer behavior has evolved and transformed. A work published on The Standard CIO portal (https://thestandardcio.com/2025/04/14/comportamiento-del-cliente-banca/), confirms the incorporation of changes in how products are consumed, how information is gathered, and how decisions are made towards choosing a product or service more in line with individual values and beliefs.
Furthermore, today companies need to interact with different generations of clients with completely different needs, desires, and levels of criticality. And it is there that the question arises: “how to personalize offers for the target audience?”.
It is not the same to deal with a retiree who does not know or has basic knowledge of how digital banking works, as it is with new generations who have never set foot in a bank branch because everything related to banking is handled through the digital world, whether it’s their computer or their smartphone.
A Change Driven by Technology
In the financial segment, institutions are exploring new ways to understand and serve these clients. Using neural networks and machine learning, they make it possible to map the financial profile and align the products and services offered to clients individually.
In these cases, understanding and using AI goes beyond simple demographic data analysis or customer grouping.
A client with a history of intensive credit card use, for example, may receive personalized offers for an increase in their credit limit. While one who makes many international transactions may be directed to a specific foreign exchange product.
But the bank must also deal with that client who still uses a debit card for a simple ATM transaction, or the one who prefers the traditional style of interacting with the teller and filling out the now archaic bank voucher.
This level of knowledge and experience facilitates, for example, identifying the type of client and promoting the allocation of resources and offers in a more natural way, designed for the client’s stage of life, contributing to operational efficiency.
Security
From a security point of view, knowing the client’s transactional and financial behavior guarantees, for both companies and consumers, a lower risk of fraud and scams. This strengthens trust between the parties.
For banks, preventing scams translates into a lower rate of losses derived from fraud, which has an impact on better financial results.
The cycle is virtuous. Hyper-personalization works with accurate and periodically updated data and information. This facilitates the creation of service strategies, improving relationships and proximity with the client.
Of course, this is not a magic formula. Needs and expectations, as well as the macro environment, change, and it is necessary to be attentive to this. For this reason, banks are increasingly investing in cutting-edge technology capable of making their clients feel that they are truly the center of the business.
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