Financial institutions today have amassed mountains of unbelievably valuable customer data. Many have spent decades building, procuring and integrating systems to collect it all.
But as data volumes and customer interactions surge, unlocking the full value of this information has become increasingly complex, pushing legacy systems far beyond what they were built to handle.
With the right data strategy, banks can unlock value across operations and end-to-end customer journeys, ranging from better straight-through processing and faster decisioning to more seamless, differentiated experiences. With the help of technology, data has become a powerful competitive differentiator.
Why banks struggle to turn data into better customer experiences
Yet turning data into meaningful customer value remains a challenge for many banks, and today, failure to deliver consistent, relevant digital experiences directly impacts retention. According to Accenture, 73% of customers have engaged with multiple banks beyond their main bank.[1] Some 58% have opted for services or products from a new provider in the last 12 months.
Attrition is rising, and collecting data alone is not enough to stop it.
It takes data, empathy and trust to avoid attrition today, and technology is often the driving success factor. When supported by modern technology such as innovative onboarding, servicing and delivery solutions, low-code app development tools, and AI, banks can deliver guidance faster through personalized reminders and relevant product suggestions.
Rather than relying on one-size-fits-all systems, AI, for example, enables modern solutions to adapt in real-time as customers browse, compare options, or complete applications, creating more relevant experiences and natural opportunities to deepen engagement.
Legacy system shortcomings have become increasingly difficult to ignore, and the urgency to address them will only grow.
Take the lead and keep it
The race to innovate is clearly underway, and the good news is that there is still time to take the lead. Banks that edge ahead will be the ones that turn data into action across the entire business, not just within a single channel or team.
In other words, innovation must go far beyond one‑off upgrades. When modernization connects, aligns, and orchestrates core systems, data, and digital services, banks can improve operations through more efficient straight‑through processing and faster decisioning while delivering seamless end‑to‑end journeys that keep customers satisfied and loyal.
The importance of holistic innovation cannot be overstated. And importantly, it can happen at each bank’s own pace. This is not about a risky rip‑and‑replace, but about modernizing the full stack so data can move cleanly across products, processes, and channels. When everything works together, banks can deliver timely guidance, relevant offers, and proactive support without disrupting the experience.
Generative AI raises the ceiling even further, but only when it is built on connected, high‑quality data. Some 75% of banks are exploring ways to use GenAI to improve customer experiences, strengthen support services, and increase productivity, though 36% are in the process of deploying it, leaving clear opportunities to edge ahead.[2]
The results are measurable. Banks that modernize their digital and data operations see tangible gains, including up to 74% lower customer onboarding times, 36% higher cross‑sell rates, 35% higher straight‑through processing, and significantly higher digital onboarding completion.[3]
That’s good for business and good for the brand. Successful banks are doing this today.
The Path Forward
Banks can make meaningful progress without trying to modernize everything at once. They can start by unifying key data sources, applying real‑time intelligence to one high‑impact journey, and building event‑driven decisioning, all of which can create quick, meaningful improvements across the customer lifecycle.
In the end, intelligent journeys are built on one core idea: relevance. When banks deliver the right thing, at the right time, in the right channel, customers can experience banking that feels less transactional and more like a true partnership.
Create Effortless Digital Banking Experiences
Temenos enables banks to streamline end‑to‑end digital journeys with intuitive, configurable experiences that reduce complexity, accelerate delivery, and improve customer engagement across channels.
[1] Global Banking Consumer Study 2025 | Accenture
[2] Temenos survey finds three quarters of banks are exploring GenAI deployment – Temenos
[3] Temenos Value Benchmark data
