To implement value-driven, personalized engagement models, banks must transform their existing systems and processes that are fragmented and lack complete overview of customer relationships. For example, when it comes to loyalty and rewards programs, most banks still work with a product level strategy. This approach does not consider the other touchpoints and relationships a customer has with the bank like investments, fixed deposits, loans and more. As a result, banks lack a comprehensive understanding of the customer’s relationship and business with the bank. This limits their ability to offer value-driven rewards and loyalty programs that deliver value to their customers. It is also a significant obstacle when devising personalized pricing strategies. Without an in-depth understanding of the customer’s total business value and relationship, the bank cannot offer truly personalized products and services. This can severely impact their profitability, customer stickiness and may even potentially jeopardize future growth.