Know Your Customer: A key ingredient for success in payments

“Know your customer” is more than a compliance mandate. Knowing your customers’ preferences, goals and aspirations—and using these insights to shape every interaction—is the key to earning and keeping their business. How do card issuers and payment providers tailor their customer engagement strategies to meet the expectations of today’s financial services consumer? FICO recently completed an extensive consumer research study of the banking industry. This report presents data on insights and opportunities related to cards and payments.