Financial institutions are also ramping up their digital offerings. “Traditional banks like Chase and Bank of America continue to innovate to grow their user base,” said Oscar Orozco, eMarketer senior forecasting analyst at Insider Intelligence. “An area of focus is the use of analytics-based personalization to provide helpful guides to their target audience. Notifications via smartphone apps are one way, with continued use of account-related alerts, spending patterns, promotional offers and helpful tips based on the customer’s location, bank balance and so on.”

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