Insights Thought Leadership

How Robust Customer Knowledge Benefits FIs

customer data platform


Omnichannel, Digital Listening

Branch and contact center staff benefit from a continually expanding customer view through the Customer Data Platform (CDP). CDP uniquely identifies a guest visiting the website. Digital sensory collects browsing and navigation behavior, calculating propensity to purchase, and detecting and responding to abandonment signals. CDP expands knowledge when the guest registers by providing name and email address, converting the guest to a prospect. CDP merges existing information and the prospect continues the journey to fulfillment, at which point, the prospect converts to a customer. With this expanding knowledge base, the solution identifies and authenticates the customer, generating a customer information file (CIF) record as part of fulfillment. CDP continues to collect customer information to expand staff visibility enterprise wide.

The CDP repository stores data collected throughout the customer journey, from early awareness and consideration through relationship expansion, associating it to existing customers and entities. Enterprise-wide access to CDP customer information enables targeted list creation, segmentation, relevant marketing, and concise banker-insight to elevate engagement and increase the likelihood of acquisition.

In addition to digital sensory and fulfillment activity, CDP collects and compiles information from various sources including the host customer information file, customer and account services, financial planning, surveys and analytics. Third party data sources such as purchased marketing lists, credit reporting agencies, identify validation and customer authentication are also used to build the customer record. Entity matching and deduplication of entity records improve data quality, increasing the effectiveness of engagement initiatives relative to customer acquisition and relationship expansion.

With its knowledge base, the embedded Customer Data Platform continuously expands relationships through campaigns and referrals by accumulating consumer and business profile information, institutional knowledge, segmentation, and customer insight. As bankers receive qualified leads, they have the institutional knowledge and confidence to proactively engage, increasing both performance and customer satisfaction. The optimization of digital and human interactions enhance customer experience, resulting in increased acquisition, retention, and revenue.

For more information download the “Improving Sales and Sales Performance Management" interview with David Engebos, President and COO of ARGO.


Download ARGO's interview with David Engebos