Travel Operations Intern

Hyper-personalised communication from your bank can be transformative – for it and you. So why are some of them still spamming us? Here, Meniga and Boston Consulting Group advocate for targeted commsMost of us will have received them – notifications on our banking app that are annoyingly irrelevant.The travel insurance offer that lands just as you do… on your return home. The cheerful message that ‘you’re eligible for a loan’ within days of taking one out with the very same bank.Such unsophisticated, impersonal interactions between banks and their customers don’t endear us to them.And if banks are serious about evolving from being merely transactional services providers to becoming your money-savvy best mate, then they need to sharpen up. A recent survey by Accenture found that although 72 per cent per cent of customers say personalisation influences their choice of bank, only three per cent actually use personalised tools offered by their main provider, leading the authors to conclude that: ‘there’s a clear disconnect between what customers want and what banks think they want’.“Too often… budgeting tools and automated alerts – think tailored offers or next-best actions – are coming across as impersonal and standardised, missing an opportunity for true connection in their delivery,” they added.It’s a message echoed by Meniga, a global leader in digital banking technology, which works with more than 170 banks across more than 35 countries to help them provide their customers with hyper-personalised financial management services.Meniga, which was founded in Iceland in 2009 but since 2016 has had headquarters in London, created a digital banking engagement playbook for its clients, which consists of three core tenets: turn your data into value; hyper-personalise the banking experience; and harness gamification to build habits.Stressing the vital importance of doing so, Raj Soni, Meniga’s CEO, says: “The traditional banks need to seriously transform their digital and online banking capabilities, and also capitalise upon the vast amount of user data that they have, and which neobanks do not have, to create super-hyper-personalised dynamic experiences and engagement for customers. That adds real value.”Citing a personal example, he continues: “A few months ago, I was positively surprised when I received a notification from my bank that I had been spending far too much money on FX and foreign currency-related charges, when I was travelling, using my existing credit and debit cards.“And I was also positively surprised to get a proposition for a multi-currency credit card, which would allow me to hold various currencies and use that specific card as I commute across the world for my different business and personal needs.“This is a perfect example where a bank, knowing me as an individual, and having access to my data, added real and tangible value with a very personalised offer.”Michal Panowicz, Managing Director and Partner at the London office of Boston Consulting Group, which helps its banking clients drive digital transformation and works with Meniga, would agree with that. But he doesn’t see it happening nearly often enough – and certainly not in the countries you’d expect.“The best digitally developed markets are not in the US or the UK – which are financial and technology centres – but in Spain, Turkey, Poland, India

On June 12, the NIC under the Ministry of Planning and Investment, in collaboration with Japan International Cooperation Agency (JICA) and Boston Consulting Group (BCG), hosted the launch of the report "Vietnam's AI Economy 2025."

BCG's Survey of Over 16,000 European Consumers Finds 54% Are Pessimistic About Their Country's Economy and 52% Worry Daily About Their Personal FinancesConsumers Cut Back on Discretionary Spending; Expect to Increase Spending on Two Fronts: Essentials and LuxuryOnline Shopping, Sustainability, and Deal-Seeking Reshape Consumer Preferences and ExpectationsBOSTON, June 10, 2025 /PRNewswire/ -- European consumers are navigating 2025 with growing unease, reevaluating their spending priorities due to economic, political, and environmental concerns. According to a new report by Boston Consulting Group (BCG), more than half (54%) of surveyed European consumers are pessimistic about the economy in their home country—a 7 point increase since July 2024. Meanwhile, 52% worry daily about their personal finances—a 9 point increase from last year.European Consumers Brace for More Uncertainty, Boston Consulting Group (BCG)These findings are part of BCG's latest European Consumer Sentiment Report, titled European Consumers Brace for More Uncertainty, based on an April survey of over 16,000 consumers across nine countries. The study reveals a widespread shift toward financial caution and value-driven spending.In addition to economic unease, political anxieties run high, with 57% of Europeans expressing pessimism. But anxiety isn't felt equally: over 73% of consumers in France, 71% in Romania, and 70% in Spain feel pessimistic, compared with just 38% in Scandinavia. The impact of tariffs remains a lesser concern, cited by only 30% of consumers—lower than the 42% of consumers concerned about sustainability and climate change."Across Europe, consumers are becoming more selective and deal-driven," said Andreas Malby, leader of BCG's Consumer practice in Europe, the Middle East, Africa, and South America, and a coauthor of the report