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08.10.2019 4 min read

Data-driven banking study

Contovista: Studie Data-driven Banking

Swiss retail banks focus on customer data

The study was conducted by the Business Engineering Institute St. Gallen on behalf of Contovista, Viseca, smama and e.foresight. In semi-structured interviews, 14 experts from Swiss retail and challenger banks were surveyed.

A focus on data-driven banking

The future of retail banking starts with customers. Their behaviour is evolving, sometimes dramatically, led by those who want to integrate seamless digital banking solutions into their daily lives. These changes are rapidly spreading to all segments and age groups. An increasing number of people are demanding simple, trustworthy products and services from financial institutions – or companies that offer related services – that put them first.


To be data-driven means that the progress of a business activity is purely based on data, not on intuition or personal experience. It involves creating tools, capabilities, and most importantly, a business culture in which action is data-driven.


Data monetisation is the supreme form of (new) data-driven business models. The digital economy uses personal data to offer new, tailored services and products and create a unique customer experience. Direct monetisation occurs through selling data products.

In such an environment, customer data is a crucial factor in building and maintaining positive, sustainable relationships with customers. Correctly identified and managed customer identities across all interaction channels are the starting point for a relevant and personalised customer approach and can lead to long-term relationships. Using artificial intelligence and machine learning in a data-driven way ensures a direct link between customer data and the resulting actions. It goes without saying that a crucial sub-condition is compliance with data protection, security and privacy at all times, both in the storage and use of personal and customer data.

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