“As a bank customer, I often feel the impact of not having personalization. There’s such a huge opportunity for banks to actually use the data they already have, understand their customers better, and offer a much smarter level of service. And you really notice it in those moments where you think: if they truly understood me, they wouldn’t be wasting my time. For example, when I lived in the US, Bank of America kept offering me car loans. But I didn’t even own a car, I rode a motorcycle. If they’d looked at my transactions at petrol stations, the amount of fuel I was buying would’ve made that pretty obvious.”
Andrew Steadman, Chief Product Officer at SBS
In this episode, I sit down with Andrew Steadman, Chief Product Officer at SBS, to talk about something reshaping the banking world: data-driven personalization. Why does it matter so much? Because customers now expect their bank to know them as well as their favorite apps do. Andrew breaks down why banks struggle to use the data they already have, how personalization can actually build trust, especially in sensitive moments like debt collection, and why transparency is the real key. We also dive into regulations like GDPR and Consumer Duty. Instead of slowing things down, they can actually help banks create more trust and deliver clearer value. A great episode if you want to understand how to move from “we have the data” to “we finally use it to help people.” Give it a listen!
