How Can Finance Industry Solve Data Residency Problems to Unify & Activate Customer Data Through a CDP In Their Regulated Environment?

For a very long time, in some parts of the world, banks and other financial institutions struggled to make use of many customer-facing #cx, #martech and #adtech technologies, especially CDPs on varying levels due to their respective country regulations on data residency. But now, Labrys has a solution to bring impressive ROI to all financial institutions.

Although many point solutions might have been developed internally or somewhat used with respect to the level of strictness of country data residency rules on where data was stored by the vendor, the main challenge was always to unify and generate some intelligence on all customer data and signals collected by various tools and mostly stored in a few siloed databases behind the firewall while some stored in BigTech clouds.

Now, this is a challenge no more!

Labrys introduced its partnership with Meiro.io back in the beginning of December 2022 in order to overcome these challenges and help financial institutions invest in an enterprise grade solution that will reside behind their firewall, while bringing in all CDP (Customer Data Platform) capabilities into the hands of marketing professionals in the company.

While having all leading CDP functionality in-house, Meiro would help finance marketing & business professionals to address the digital growth & optimize all digital transformation efforts in their business by connecting online & offline behaviors & signals. At the same time, IT teams would be able to manage all back end by themselves if they want to, control authentication levels to data access while “playing” with bringing in many datasets from various parts of their ecosystems with powerful ETL functions. What’s more, although the system is packed with many built-in ML/AI functionalities, financial institutions would be able to bring & employ their own data models/algorithms in the platform. If you’d like to take a look at Meiro offer, you may click here and read a business case.

Once all regulatory, security & governance related possible obstacles are taken out of the road, with the help of below capabilities of the platform, business & marketing teams would be able to sail into new frontiers in financial industry:

– Powerful “ID Resolution”, based on 1st Party data infrastructure
– Overcome 3rd Party “Cookie Apocalypse” and be able to continue to monetize the strength of programmatic platforms for advertising, analytics and journey orchestration use cases.
– Hyper-personalize experiences in all fronts, not only in digital but also in offline branches & field sales activities
– Form & stream audiences to all communications channels, from advertising to your CRM & contact center, from your marketing automation to your loyalty system, etc.
– Collect & enrich data, both anonymous & known, unify digital behavioral signals with hard fact data like demographics, credibility factors, transactions, product ownership, etc.
– Get detailed & enriched insights, even from Safari & Firefox browser users, where you currently lose at least ~20% of your footprints, as well as create on the fly segmentation via all data sources which you may not access today.
– Create a real single customer truth

If you’re interested in finding out more ideas on these facts, you may like to visit our previous post titled “Not All CDPs Are The Same!”

Apart from introducing the platform and showcasing how these value propositions come into life, Labrys, Europe Partner for CDP Institute, may help you design your custom use cases and your requirements list to use in any CDP selection process, too!

So, do not hesitate to click here to get in touch with Labrys to start your #cdp journey.