6 Ways Personalization Is Transforming the Digital Banking Customer Experience

Consumers can now take their banks with them wherever they go, courtesy of the internet. Digital banking, particularly on mobile devices, is being embraced by banks and customers alike. Digital-only banks, called neobanks, are on the rise with the top banks Chime and Varo, serving over 18 million customers combined. These banks are mobile-first out of the gate, while most traditional banks now offer both online portals and mobile apps for virtual banking.

While fully automated virtual banking may seem like a blessing to anyone who’s waited on a long line at a physical bank, the flip side of digitization is that it can make banking customers feel like cogs in a vast transactional wheel. 

In a recent Accenture survey of nearly 50,000 banking customers across 49 countries and 700 banks, banking customers overwhelming expressed that they want to feel valued by their bank. When banks succeed at this, their customers become their advocates.

Banks who turn customers into advocates must meet several important expectations including transparency, relevance, and recall. Personalization helps achieve all three of these things. It’s as important to banking customers as it is to Amazon shoppers. 

Nearly three quarters (72%) of Accenture survey respondents said personalization factors into what bank they use. It helps banking customers feel known and valued by transforming cold, transactional relationships into meaningful financial partnerships.

Personalization is the New Standard in the Digital Banking Customer Experience

Banking is an incredibly personal experience—you’re trusting an organization with your money, after all. This is a why consumers are increasingly gravitating to banks that provide customized and relevant experiences. 

Banks that implement personalization increase customer satisfaction, which feeds into what Accenture calls “advocacy”—a metric used to describe customer loyalty with their bank. Banks with the highest advocacy scores increased their revenue 1.7x faster than low-scoring institutions.

This makes personalization a necessary element of modern banking. But what does that mean, specifically? Here are six ways banks can improve digital experiences using personalization throughout the digital banking journey:

🚀1. Personalized Onboarding Experiences that Boost First Impressions

First impressions matter in banking relationships. Customers want their banks to recognize their unique needs rather than treating them as another account number. Smart banks are responding by creating tailored onboarding experiences that adapt to each customer’s financial goals and preferences. 

A tailored digital onboarding process should incorporate multiple helpful resources like:

• Self-service appointment scheduling with online banking advisors
• Digital customer verification (e.g., KYC verification) to eliminate in-person document checks
• Automated welcome journeys with guided tutorials tailored to a customer’s needs
• Follow-up emails to introduce new customers to relevant banking products and features

Tailored onboarding flows like these create better initial user engagement and provide a positive first experience. They also help banks stand out since competition, particularly from digital-only banks, is fierce. 

💳2. AI-Driven Financial Recommendations Based on User Behavior

Banks are increasingly offering personalized suggestions and offers that fit individual customer spending habits and profiles. These are specific initiatives aimed at tangibly improving a customer’s financial well-being.

JPMorganChase, for example, tested a program at its Harlem Community Center, sending tailored financial messaging and information to customers identified as lacking basic financial knowledge. The result: a 73% increase in savings balances and a 51% growth in business banking.

Banks are studying patterns in various locations and banking centers so they can recommend ways to help customers reach goals like building an emergency fund or putting aside money for taxes to cover freelance income. According to the Accenture report, nearly three-quarters of people say that feeling understood by their bank matters when choosing where to keep their money.

🧑‍💻3. Dynamic Website and App Content Tailored to Each User

As with retail and entertainment experiences, banks can use personalization to dynamically adjust various elements of financial experiences so each interaction feels relevant and helpful. 

AI personalization platforms like Monetate analyze customer data and behavior in real-time so the experience is relevant based on the context of what the customer needs in the moment. Here are some ways this manifests: 

• As targeted offers, such as a savings account with a higher interest rate for customers who consistently maintain a high balance
• As real-time notifications about spending patterns, bill reminders, or opportunities to save based on recent transactions
• As dynamic dashboard layouts that adjust to highlight features a customer uses most, like quick access to budgeting tools or investment summaries
• As  location-based offers, like discounts at nearby retailers or alerts about branch services in the area

Personalization like this makes banking more convenient. It helps customers feel genuinely seen and supported—something everyone can appreciate.

📲4. Custom Alerts and Notifications That Enhance Relevance

Banking alerts can be functional, promotional, informational, or all three. They’re a practical way to make digital banking feel more relevant, but they can also become white noise if overdone.

To make alerts meaningful, review audience analytics and customer journey data to understand where customers are dropping off or checking out (e.g., when someone abandons an application or doesn’t follow up on a new product.) Identifying these moments early and often allows you to respond with timely, personalized nudges.

Making true connections with customers requires that banks move away from generic reminders and alerts. When alerts are genuinely useful and arrive at the right time, customers are more likely to stick around, act on an offer, and feel like their bank is paying attention.

🌍5. Location-Based and Contextual Personalization

Banks are getting smarter about using location and context to facilitate timely regional connections with their customers. When a customer walks into a branch, they might get a welcome message, details about their last transaction, or a digital queue number—no more waiting in line. 

Geofencing lets banks send relevant offers when someone is near a partner store, at the airport, or visiting a car dealership. This could be a travel insurance prompt or a special credit card deal. 

Banking apps can show exactly where a purchase happened, helping customers recognize transactions and spot fraud faster. After a branch visit, a quick survey can pop up to gather feedback. Even finding the nearest ATM or branch is easier with location-aware features. All of this adds up to a banking experience that feels more connected to real life.

📊6. Data-Driven Support and Chatbots Offering Human-Like Help

Intelligent chatbots use AI and data to make virtual support tools feel more human and relevant. Smart bots leverage multiple technologies to make this happen, including (but not limited to):

• Machine learning
• Natural language processing
• Natural language understanding
• Predictive reasoning 
• Generative AI

Data helps chatbots recall a customer’s history—using past search queries and interactions to tailor advice. This helps the customer resolve issues quickly or connect to a human agent when needed.

Banks that personalize chatbot interactions have seen boosts in engagement, a drop in operational costs, and more positive feedback. From the customer’s perspective, the support experience feels less robotic and more like talking to someone who knows what they need.