Financial institutions have long been accumulating precious data about customers and their transactions, without taking full, or in some cases any, advantage of the effective value. If this data is utilised right, financial institutions can narrow down to an individual customer’s favourite restaurant or coffee-shop and this is just the start.

Financial institutions also capture non-consumer data such as their meta-data related to cash machines, branches and their locations, the exact number of loans, mortgages, and different types of accounts and volumes of transactions. With all the information that the financial institutions capture, it would not be very difficult to analyse an individual customer and offer relevant products and services.