June 16, 2021

Marketing, What Is Open Banking And Why Should You Care?

1 hour 6 minutes

The big question is why should retail marketing professionals care about #OpenBanking? With the removal of 3rd party cookies, many brands and retailers are scrambling to find workarounds to replace them.

Andries Smit is CEO and co-founder of Upside. Upside provide consumers with instant #cashback paid straight into their savings account. Apart from the obvious benefits to consumers of not having to wait weeks or jump through hoops to get their cashback, consumers get to take advantage of highly targeted and personalised offers from brands and retailers.

Andries explains how open banking enables retailers to grow spend from existing customers, map exactly how much their customers are spending with competitors, and use those insights to target offers to grow #walletshare, attract competitors' customers and build brand loyalty.

This represents the start of a renaissance in marketing and is possibly the biggest evolution in data driven marketing we've seen in our lifetime.

If you know a finance director or CFO in a brand or retailer, or brand or retail CMO, please make sure you share this episode with them.

I've seen the detailed insights Upside can offer them through open banking and they really do deliver #MarketingCertainty. This puts true precision into consumer marketing based on real world buying behaviour, not intent data which is unreliable in comparison.

Andries can be contacted via LinkedIn at linkedin.com/in/andriessmit

Twitter: DriesSmit

If you want to contact me, [email protected]

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