'With personalization, you have to start by addressing the silos': Amdocs' Bentzi Aviv

There’s a lot of talk about personalization being the Holy Grail of banking. Some firms even use the terminology hyper-personalization. But to be honest, few banks actually provide deeply personalized products. With all the tech advancements of the past decade, it’s still mostly one-size-fits-all banking.

It’s not necessarily their fault, either. Given the history of banking and data siloed by products, banks can struggle piecing it all together. That’s changing though as creative technology solutions are able to help banks take a more customer centric approach and in doing so, get much better at providing personalized offers and pricing.

For this episode I spoke with Amdocs' Benzium Aviv. Bentzi heads the Financial Services Unit within the Amdocs organization. We talk about the big trends toward personalized financial products, drawing from parallels in the telecommunications industry and the technology and business changes it went through.

When you hear Bentzi speak, you can tell he's passionate about personalization in financial services. He's an optimist and also pragmatic, aware of the challenges banks and other FIs have to get personalization right.

This podcast was produced by Tearsheet Studios. We worked closely with Amdocs, a global technology company with 40 years of experience providing personalized pricing and products to the telecommunications industry. The firm is increasingly active in the financial services industry, too. This is part one of a 2-part podcast series.

There's also a guide available with the best of this interview: Unlock the power of personalized product offerings: 3 approaches for banks to provide the experiences their customers want. Download here: www.library.tearsheet.co/amdocs23