 Customer Partition in Banking 5.0Bernardo Nicoletti ()
Chapter Chapter 6 in Banking 5.0, 2021, pp 173-187 from Palgrave Macmillan Abstract: Abstract The partition of the customers or market segmentation is essential in banking 5.0. New customers are entering the market, such as the so-called millennials. Their approach to banking is entirely different. Financial institutions need to rethink the customer segmentation strategy to tend toward one person’s segment. Banking 5.0 can introduce new customized services in this direction. This chapter underlines the partition or segmentation of the market and how to choose the customers’ targets and delight them. This chapter describes several methodologies on partitioning and analyzes the ones based on the customers’ age or using artificial intelligence tools. A tool which can help in servicing vastly different partition of the customers is the robo-advisor. It belongs to a class of automatic financial advisers supported by artificial intelligence. They give financial advice or wealth management online with moderate to minimal human interventions. Keywords: Banking market segmentation; Millennials; One-customer segment; Artificial intelligence; Robo-advisor (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:psincp:978-3-030-75871-4_6 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-75871-4_6 Access Statistics for this chapter More chapters in Palgrave Studies in Financial Services Technology from Palgrave Macmillan |
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