Digital platforms offer marketing managers and data scientists huge opportunities. With the financial and purchasing information available to Banks, they will have the potential for understanding their customers in great detail.
This does bring issues of data governance, data management and privacy, which Banking Regulators are rightly keeping a close eye on.
The opportunities for using this data to improve digital offerings (usability, experience) and banking and associated services are massive. It could be the biggest ROI from digital banking of them all.
It's not just about understanding individual customer behaviour, it's also about optimising app and web user experience through A/B or multi-variate testing. Essentially using data-driven methods for improving the business value derived from online experiences rather than design-led or feature-led approaches.