The future of banking is hyper personalised

Next generation digital banking experiences are hyper personalised. This is brought about by player engines, like Moroku’s Odyssey, that create a picture of where the customer is and where they have come from to gain a set of theses about where they are going. With this established the engine can then support them on that journey through a set of hyper personalised nudges and support. So thinks Macquarie’s Banking and Financial Services (BFS) technology chief Richard Heeley who wants to  create Australia’s “leading omnichannel experience in financial services”. “We see the future of banking as highly personalised,” Heeley said during Macquarie Group’s half-year results presentation on Tuesday. “That means we’re going to consume every interaction that our customers make into our event-driven architecture, and we’re going to utilise those interactions from our customers to provide that best experience.” Australia’s fifth largest by market cap has tripled its technology investments over the last 10 years to $677 million in FY2023.  “Virtually every part of the stack has been reimaged and rebuilt for digital engagement,” Heeley said. Its 5.3 per cent share of the mortgage pool, representing $118 billion today (up from just $12 billion a decade ago), is the country’s fifth-largest home loan book after the big four banks.