Precision banking: The ‘segment of one’:
A interesting article about the visionary evolvement of Financial Services.
What’s needed to get the ball rolling are courageous CXOs who visualize the eventuality of customer-focused offerings which combines banking practices with behavioral science, and personal finance management - all rolled into one.
The segment of one, a missed opportunity? Professors C. K. Prahalad and M. S. Krishnan described the Segment of One as N organizations coming together to solve the need of 1 customer. Every individual customer is recognized as a unique (segment of one) whose environment, lifestyle, personality, preferences, needs and wants are appreciated as different. Current banking solutions are overwhelmingly generic and lack relevance and context for intended customers.
Read the full article here.
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