As digital banking becomes more popular, there is a clear mandate for financial institutions (FIs) to “go digital” and invest in mobile and online banking technologies to satisfy consumer needs. But the name of the game has shifted. “Digital migration” has evolved into “digital integration” – and that means it’s essential for each FI to find the best mix of digital and traditional channels for its unique customer base.

The key to achieving that ideal mix is for FIs to apply holistic segmentation to assess their customer base in order to understand their needs and habits better than ever before. Armed with this critical insight, FIs can map their digital path to attract and retain customers based not only on demographics, but also on banking behavior and attitudes toward future use of branches, ATMs, call centers, mobile banking, and online banking. Holistic segmentation enables FIs to prioritize channel and marketing investments, and reassess personal banking in a way that optimizes the return on investment (ROI) from branches, call centers, ATMs, and digital banking.