Understanding what Customer Data Platforms (CDP) bring to the table

As the global CDP industry is predicted to reach $5.7 billion by 2026, Vietnam’s banks are rapidly embracing these technologies to keep themselves abreast of the market. This adoption is being driven by multiple factors, where in, apart from local firms that are clearly moving toward customer-centric strategies, programs like the National Digital Transformation Programme and Financial Inclusion Priorities are aiding this change much faster. And lastly, the increasing demands for more convenient and seamless services is the catalyst that is pushing adoption.

Now is the time for Vietnam to embrace new and innovative solutions that prioritise hyper-personalised experiences, financial wellbeing, and convenience.

Purpose of CDPs

In order to create a smooth and uniform customer experience across many channels, monitor customer interactions, and provide tailored suggestions based on consumer behaviour, banks consider using a CDP.

How Clayfin’s Spinach builds on the advantages of CDP

Going beyond traditional CDP, Spinach brings in the customer experience dimension through its mobile app.This helps banks engage more with their customers, thereby ensuring that they are able to get relevant behavioural data from the users. Spinach is able to introduce a two way mode of engagement wherein customers can contribute more data that can be used by banks for ROI generation.Spinach becomes a customer gateway to the CDP platform!

Embracing the principles of open banking, Spinach allows for a more integrated and comprehensive view of a customer’s financial landscape across multiple institutions, enhancing the accuracy and relevance of the insights provided. And for customers, it provides timely nudges and notifications to promote a healthier financial lifestyle, guiding them towards better financial decisions.

Advanced Features in Spinach

Spinach introduces a more nuanced, hyper-personalised, and customer-focused strategy. It emphasises predictive financial insights, direct customer engagement through mobile applications, and compliance with regulations to offer a comprehensive toolkit for banks to enhance customer relations and financial wellness.

Here’s how adopting Clayfin’s PFM solutions helps banks:

Banks today across the globe strive to be insights-driven. Because being insights-driven automatically makes them innovative, grow faster, and better at handling adversity. Having up-to-date, well-maintained, accessible customer data—a CDP makes it possible. But it’s not enough.

Through the integration of Clayfin’s PFM solutions, Vietnamese banks can pave the way for a future where financial stability is not merely a goal but a fundamental standard for all customers. This signifies a paradigm shift in banking excellence, leveraging Spinach to drive sustainable growth profitability, and empower customers toward financial stability.

What’s more exciting is that the Clayfin team looks forward to showcasing our innovative solutions at the forthcoming World Financial Innovation Series in Vietnam, scheduled to take place at Melia Hanoi on April 15-16. We invite you to visit our booth (E1) to explore how Spinach can transform your offerings and contribute to the advancement of banking excellence.

Do Thi Huong Tra

Do Thi Huong Tra, Vietnam Country Manager at Clayfin, is an accomplished International Banking Technology Executive driving digital banking strategies to fortify Vietnam's banking system. With a focus on innovation, Tra implements cutting-edge solutions to enhance efficiency, positioning herself as a key influencer shaping the future of banking in the region.

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