Abstract

In the current market context, retail banks are forced to rely on the customer data they collect to meet consumer needs better. Using data and analytics to predict customer needs in real-time—hyper-personalization in retail banking—is the model retail banks should aim for to expand or tighten existing customer relationships and increase trust towards development goals. The key for banks to achieve this goal is hyper-personalization of customer experience. Banks are increasingly aware of the importance of hyper-personalization, focusing on investing in data analytics and cloud computing technology to provide "tailored" products and services to maintain customer loyalty. The article provides general knowledge about hyper-personalization in general and hyper-personalization in the banking sector and studies the practical application of hyper-personalization at some large banks in the world and banks in Vietnam, thereby providing a group of solutions to help banks promote the implementation of hyper-personalization.