Flying Blind: The Real Cost of Underused Data

Why Banks Struggle to Personalize

Most banks today are flying blind. Despite having access to more data than ever before, over half of financial institutions say they struggle to use it effectively. According to The Financial Brand, only 14% of financial institutions report having a 360-degree view of their customers. That leaves a staggering 86% operating with partial visibility—relying on fragmented datasets to guide their marketing efforts.

The result? Missed growth opportunities, underwhelming campaign results, and a disconnect between institutions and their customers.

The Disconnect Between Data and Action

It’s not that banks lack data. The issue is that most are relying on incomplete or isolated datasets, like basic demographics or account types. Without integration and interpretation, banks can’t see the full picture—let alone act on it.

WordCom’s EngagementIQ was built to change that.

We combine your first-party banking data with high-quality third-party insights—then apply behavioral segmentation and predictive modeling to identify what your customers need, want, and are likely to do next. Instead of static lists, you get live, actionable profiles and a roadmap to connect with the right households at the right time—all from an intuitive dashboard.

Real Strategy, Real Results

Take one $7B Midwestern bank. Their goal? Deepen customer relationships. But like many, they lacked a system for turning data into action.

With WordCom, they implemented a behavioral segmentation model based on financial habits (e.g., Savers, Credit Consumers, Money Managers), financial capacity, and attrition risk. Using those profiles, we built targeted monthly campaigns across direct mail, email, digital display, and social media.

What happened next?

• $88M in new deposits
• $42M in new loans
• A 14.55% response rate to CD offers
• Cost per account: just $30

All by targeting the top 10,000 most likely responders with relevant products each month.

What Gets Measured, Grows

Without an integrated view of their customers, banks can’t personalize effectively. But when you connect the data and align it with strategy, the payoff is clear: higher response rates, better marketing efficiency, and stronger customer relationships. In fact, McKinsey reports that companies that successfully use data to personalize their marketing can see revenue gains of up to 40%.

‍EngagementIQ bridges the gap—so your team can stop guessing, start acting, and finally see the full picture.