LA  HIPERPERSONALIZACIÓN, COMO ESTRATEGIA DE MARKETING DE LOS BANCOS

Juan Armengol; Yolanda Bazán de Franco

doi:10.48204/2953-3147.6625

Submitted December 26, 2024

Published 2025-01-03

Artículos

Vol. 3 No. 1 (2025): CPA PANAMÁ

HYPER-PERSONALIZATION AS A MARKETING STRATEGY FOR BANKS.

Juan Armengol ⁺⁻
Yolanda Bazán de Franco ⁺⁻

DOI https://doi.org/10.48204/2953-3147.6625

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DOI: 10.48204/2953-3147.6625

Published: 2025-01-03

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Armengol , J., & Bazán de Franco , Y. (2025). HYPER-PERSONALIZATION AS A MARKETING STRATEGY FOR BANKS. CPA PANAMÁ, 3(1), 31–50. https://doi.org/10.48204/2953-3147.6625

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Abstract

This article presents the result of research that has looked at the main conceptual definitions and theories of hyper-personalization and marketing strategy, applied to banking customers. Likewise, an exhaustive review of the theses, scientific articles and research carried out on hyper-personalization as a marketing strategy applied to bank customers, in different countries of the world is carried out. The conceptual basis collected allows to determine the state of the art and prepare the theoretical framework that will support the analysis of the empirical data that will be collected through surveys applied to those responsible for marketing in Panamanian banks in a second stage of the research.

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References

Akolkar, H. R. (2024) Examining the Impact of Artificial Intelligence on Customer Satisfaction in the Banking Sector: A Quantitative Analysis [Doctoral Dissertation, WestcliffUniversity]. https://www.proquest.com/openview/65fadee6b8f9bf8ffd16fb9d317632f9/1?pq-origsite=gscholar&cbl=18750&diss=y
Anetta, P. (2022) Hyper-Personalization as a Customer Relationship Management Tool in a SMART Organization. Problemy Zarz?dzania - Management Issues. https://doi.org/10.7172/1644-9584.97.5
Ashok, A. (2022) Navigating the Landscape of Hyper Personalization in Financial Services: Challenges, Mitigations and Strategies. Journal of Economics & Management Research. https://doi.org/10.47363/jesmr/2022(3)221
Ayinaddis, S. G., Taye, B. A., y Yirsaw, B. G (2023). Examining the effect of electronic banking service quality on customer satisfaction and loyalty: an implication for technological innovation. Journal of Innovation and Entrepreneurship, 12, 1-18.
Berrin, E. (2021) Determinants of customer satisfaction in chatbot use: evidence from a banking application in Turkey. International Journal of Bank Marketing. https://doi.org/10.1108/ijbm-02-2020-0056
Brege, H., y Kindström, D. (2020) Exploring proactive market strategies. Industrial Marketing Management, 84, 75-88. https://doi.org/10.1016/j.indmarman.2019.05.005
Chandra, S. Verma, S. Lim, W. M.Kumar, S., y Donthu, N. (2022) Personalization in personalized marketing: Trends and ways forward. Psychology & Marketing, 39(8), 1529-1562.
Chandrima, B., y Manish, D. S. (2022) The Role of Artificial Intelligence in Banking for Leveraging Customer Experience. Australasian Business, Accounting and Finance Journal. https://doi.org/10.14453/aabfj.v16i5.07
Darshana, D. (2022) Hyper-Personalization: An AI-Enabled Personalization for Customer-Centric Marketing. Advances in Marketing, Customer Relationship Management, and E-Services. https://doi.org/10.4018/978-1-7998-7959-6.ch003
Davenport, T. H. (2023) Hyper-personalization for customer engagement with artificial intelligence. Management and Business Review, 3(1-2), 29-36.
Dipa, M. Dipa, M. Hardius, U. Hardius, U. Novia Budi, P. Novia Budi, P. Novia Budi, P., y Novia Budi, P. (2020) The role of customer intimacy in increasing Islamic bank customer loyalty in using e-banking and m-banking. Journal of Islamic Marketing. https://doi.org/10.1108/jima-09-2019-0190
Flaig, A. (2023) Market-Shaping as Meta-Strategy: A Strategy of Strategies Linköping University Electronic Press].
Gnaneswari, G. (2023) Conversational Agent Architecture for OTT platform Confederation Consumer Hyper Personalization and Assistance. 2023 IEEE International Conference on Contemporary Computing and Communications (InC4). https://doi.org/10.1109/inc457730.2023.10262975
Jonnalagadda, S. (2023) Bank of Things (BoT): Digital Transformation of Banks Using IoT to Enhance Customer Experience [Master of Science in Management Information Systems University of Nebraska at Omaha]. https://www.proquest.com/openview/13c868dc0bf56fa5949c0c4c87683b78/1?pq-origsite=gscholar&cbl=18750&diss=y
Junhyung, K. Kijun, K., y Jinho, K. (2023). Contextual Bandits for Hyper-Personalization based on User Behavior in Local Domain. BehavRec@RecSys. https://www.semanticscholar.org/paper/5fa104bc6ecdc4d8c8753002d3a9bf8a525ebcb1
Kohli, A. K., y Jaworski, B. J. (1990) Market Orientation: The Construct, Research Propositions, and Managerial Implications. Journal of Marketing, 54(2), 1-18. https://doi.org/10.1177/002224299005400201
Kotler, P. (1992) Marketing's new paradigms: What's really happening out there. Planning Review, 20(5), 50-52. https://doi.org/10.1108/eb054382
Kotler, P., y Keller, K. (2016) Marketing management (15th ed.). Pearson.
Kumar, S. Ashoka Rajan, R. Swaminathan, A., y Johnson, E. (2023) Hyper-personalization and Its Impact on Customer Buying Behaviour. In I. J. Jacob, S. Kolandapalayam Shanmugam, yI. Izonin, Data Intelligence and Cognitive Informatics Singapore.
Maddodi, S. (2021) Artificial intelligence and hyper-personalization for improving customer experience. Dogo Rangsang Research Journal, 10.
Melpomeni, A. (2021). Behavioral Analysis of Digital Banking Acceptance and Customer Satisfaction, in Greece. International Finance and Banking. https://doi.org/10.5296/ifb.v8i2.18769
Mendia, J. M. V. Mendia, J. M. V. Flores-Cuautle, J. J. A.Flores-Cuautle, J. J. A., yFlores-Cuautle, J. J. A. (2022) Toward customer hyper-personalization experience — A data-driven approach. Cogent Business & Management. https://doi.org/10.1080/23311975.2022.2041384
Patel, J. (2018) Effect of demographic variables on e-marketing strategies: A review. International Journal of Academic Research and Development, 3(1), 311-321.
Payne, E. H. M. Peltier, J. W., y Barger, V. A. (2021) Enhancing the value co-creation process: artificial intelligence and mobile banking service platforms. Journal of Research in Interactive Marketing.
Porter. (1985) Competitive advantage: Creating and sustaining superior performance. NY: Free Press.
Porter, M. E. (2008) Competitive advantage: Creating and sustaining superior performance. simon and schuster.
Rahil, D. Riya, M. Devanshi, M., y Abhijit, J. (2022) Predicting Learning Behavior Using Hyper-Personalization and Attentiveness Measure. International Conference on Awareness Science and Technology. https://doi.org/10.1109/icast55766.2022.10039646
Rane, N. Saurabh, C., y Jayesh, R. (2023) Hyper-personalization for enhancing customer loyalty and satisfaction in Customer Relationship Management (CRM) systems. Social Science Research Network. https://doi.org/10.2139/ssrn.4641044
Rodrigues, J. F. C. Ferreira, F. A. F. Pereira, L. F. Carayannis, E. G., y Ferreira, J. J. M. (2020) Banking Digitalization: (Re)Thinking Strategies and Trends Using Problem Structuring Methods. IEEE Transactions on Engineering Management, 69, 1517-1531.
Saiyed, A. A. Shaikh, A., y Gupta, S. (2023) Entrepreneurial marketing strategy in craft-based businesses in an emerging market: a qualitative interpretivist approach. Journal of Research in Marketing and Entrepreneurship, 26(2), 279-302. https://doi.org/10.1108/JRME-04-2022-0058
Santiago, C.-V. Santiago, C.-V. Pedro, J. C.-S. Pedro, J. C.-S. Francisco, R.-F. y Francisco, R.-F. (2020) A machine learning approach to the digitalization of bank customers: Evidence from random and causal forests. PLOS ONE. https://doi.org/10.1371/journal.pone.0240362
Singh, B., y Kaunert, C. (2024). Future of Digital Marketing: Hyper-Personalized Customer Dynamic Experience with AI-Based Predictive Models. In Revolutionizing the AI-Digital Landscape (pp. 189-203). Productivity Press.
Smith, W. R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1), 3-8. https://doi.org/10.1177/002224295602100102
Srisusilawati, P.Wijayanti, I. M.Yaqin, H. N., y Eprianti, N. (2023). Marketing Strategy in Building Brand Image and Strengthening the Foundation of Sharia Bank. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(5), 106. https://doi.org/10.26668/businessreview/2023.v8i5.2038
Suat, O. (2023). Digital Marketing Strategies and Hyper Personalization. European Journal of Science and Technology. https://doi.org/10.31590/ejosat.1147526
Thomas, H. D. (2023). Hyper-Personalization for Customer Engagement with Artificial Intelligence. Management and Business Review. https://doi.org/10.1177/2694105820230301006
Thu Thuy, P., y Van Khanh, P. (2024). Factors affecting customer experience in using digital banking, study in Vietnam. Journal of Economic and Banking Studies. https://doi.org/10.59276/jebs.2024.06.2666
Tiihonen, J., y Felfernig, A. (2017). An introduction to personalization and mass customization. Journal of Intelligent Information Systems, 49(1), 1-7. https://doi.org/10.1007/s10844-017-0465-4
Vyankatesh, A. Priti, B., y Muniza, A. (2024). Impact of digitalisation on customer experience management in retail banking. International Journal of Electronic Banking. https://doi.org/10.1504/ijebank.2024.136840
Wirtz, J., y Pitardi, V. (2023). How intelligent automation, service robots, and AI will reshape service products and their delivery. Italian Journal of Marketing, 2023(3), 289-300. https://doi.org/10.1007/s43039-023-00076-1
Zouari, G., y Abdelhedi, M. (2021). Customer satisfaction in the digital era: evidence from Islamic banking. Journal of Innovation and Entrepreneurship. https://doi.org/10.21203/rs.3.rs-24909/v3

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[1] Akolkar, H. R. (2024) Examining the Impact of Artificial Intelligence on Customer Satisfaction in the Banking Sector: A Quantitative Analysis [Doctoral Dissertation, WestcliffUniversity]. https://www.proquest.com/openview/65fadee6b8f9bf8ffd16fb9d317632f9/1?pq-origsite=gscholar&cbl=18750&diss=y

[2] Anetta, P. (2022) Hyper-Personalization as a Customer Relationship Management Tool in a SMART Organization. Problemy Zarz?dzania - Management Issues. https://doi.org/10.7172/1644-9584.97.5

[3] Ashok, A. (2022) Navigating the Landscape of Hyper Personalization in Financial Services: Challenges, Mitigations and Strategies. Journal of Economics & Management Research. https://doi.org/10.47363/jesmr/2022(3)221

[4] Ayinaddis, S. G., Taye, B. A., y Yirsaw, B. G (2023). Examining the effect of electronic banking service quality on customer satisfaction and loyalty: an implication for technological innovation. Journal of Innovation and Entrepreneurship, 12, 1-18.

[5] Berrin, E. (2021) Determinants of customer satisfaction in chatbot use: evidence from a banking application in Turkey. International Journal of Bank Marketing. https://doi.org/10.1108/ijbm-02-2020-0056

[6] Brege, H., y Kindström, D. (2020) Exploring proactive market strategies. Industrial Marketing Management, 84, 75-88. https://doi.org/10.1016/j.indmarman.2019.05.005

[7] Chandra, S. Verma, S. Lim, W. M.Kumar, S., y Donthu, N. (2022) Personalization in personalized marketing: Trends and ways forward. Psychology & Marketing, 39(8), 1529-1562.

[8] Chandrima, B., y Manish, D. S. (2022) The Role of Artificial Intelligence in Banking for Leveraging Customer Experience. Australasian Business, Accounting and Finance Journal. https://doi.org/10.14453/aabfj.v16i5.07

[9] Darshana, D. (2022) Hyper-Personalization: An AI-Enabled Personalization for Customer-Centric Marketing. Advances in Marketing, Customer Relationship Management, and E-Services. https://doi.org/10.4018/978-1-7998-7959-6.ch003

[10] Davenport, T. H. (2023) Hyper-personalization for customer engagement with artificial intelligence. Management and Business Review, 3(1-2), 29-36.

[11] Dipa, M. Dipa, M. Hardius, U. Hardius, U. Novia Budi, P. Novia Budi, P. Novia Budi, P., y Novia Budi, P. (2020) The role of customer intimacy in increasing Islamic bank customer loyalty in using e-banking and m-banking. Journal of Islamic Marketing. https://doi.org/10.1108/jima-09-2019-0190

[12] Flaig, A. (2023) Market-Shaping as Meta-Strategy: A Strategy of Strategies Linköping University Electronic Press].

[13] Gnaneswari, G. (2023) Conversational Agent Architecture for OTT platform Confederation Consumer Hyper Personalization and Assistance. 2023 IEEE International Conference on Contemporary Computing and Communications (InC4). https://doi.org/10.1109/inc457730.2023.10262975

[14] Jonnalagadda, S. (2023) Bank of Things (BoT): Digital Transformation of Banks Using IoT to Enhance Customer Experience [Master of Science in Management Information Systems University of Nebraska at Omaha]. https://www.proquest.com/openview/13c868dc0bf56fa5949c0c4c87683b78/1?pq-origsite=gscholar&cbl=18750&diss=y

[15] Junhyung, K. Kijun, K., y Jinho, K. (2023). Contextual Bandits for Hyper-Personalization based on User Behavior in Local Domain. BehavRec@RecSys. https://www.semanticscholar.org/paper/5fa104bc6ecdc4d8c8753002d3a9bf8a525ebcb1

[16] Kohli, A. K., y Jaworski, B. J. (1990) Market Orientation: The Construct, Research Propositions, and Managerial Implications. Journal of Marketing, 54(2), 1-18. https://doi.org/10.1177/002224299005400201

[17] Kotler, P. (1992) Marketing's new paradigms: What's really happening out there. Planning Review, 20(5), 50-52. https://doi.org/10.1108/eb054382

[18] Kotler, P., y Keller, K. (2016) Marketing management (15th ed.). Pearson.

[19] Kumar, S. Ashoka Rajan, R. Swaminathan, A., y Johnson, E. (2023) Hyper-personalization and Its Impact on Customer Buying Behaviour. In I. J. Jacob, S. Kolandapalayam Shanmugam, yI. Izonin, Data Intelligence and Cognitive Informatics Singapore.

[20] Maddodi, S. (2021) Artificial intelligence and hyper-personalization for improving customer experience. Dogo Rangsang Research Journal, 10.

[21] Melpomeni, A. (2021). Behavioral Analysis of Digital Banking Acceptance and Customer Satisfaction, in Greece. International Finance and Banking. https://doi.org/10.5296/ifb.v8i2.18769

[22] Mendia, J. M. V. Mendia, J. M. V. Flores-Cuautle, J. J. A.Flores-Cuautle, J. J. A., yFlores-Cuautle, J. J. A. (2022) Toward customer hyper-personalization experience — A data-driven approach. Cogent Business & Management. https://doi.org/10.1080/23311975.2022.2041384

[23] Patel, J. (2018) Effect of demographic variables on e-marketing strategies: A review. International Journal of Academic Research and Development, 3(1), 311-321.

[24] Payne, E. H. M. Peltier, J. W., y Barger, V. A. (2021) Enhancing the value co-creation process: artificial intelligence and mobile banking service platforms. Journal of Research in Interactive Marketing.

[25] Porter. (1985) Competitive advantage: Creating and sustaining superior performance. NY: Free Press.

[26] Porter, M. E. (2008) Competitive advantage: Creating and sustaining superior performance. simon and schuster.

[27] Rahil, D. Riya, M. Devanshi, M., y Abhijit, J. (2022) Predicting Learning Behavior Using Hyper-Personalization and Attentiveness Measure. International Conference on Awareness Science and Technology. https://doi.org/10.1109/icast55766.2022.10039646

[28] Rane, N. Saurabh, C., y Jayesh, R. (2023) Hyper-personalization for enhancing customer loyalty and satisfaction in Customer Relationship Management (CRM) systems. Social Science Research Network. https://doi.org/10.2139/ssrn.4641044

[29] Rodrigues, J. F. C. Ferreira, F. A. F. Pereira, L. F. Carayannis, E. G., y Ferreira, J. J. M. (2020) Banking Digitalization: (Re)Thinking Strategies and Trends Using Problem Structuring Methods. IEEE Transactions on Engineering Management, 69, 1517-1531.

[30] Saiyed, A. A. Shaikh, A., y Gupta, S. (2023) Entrepreneurial marketing strategy in craft-based businesses in an emerging market: a qualitative interpretivist approach. Journal of Research in Marketing and Entrepreneurship, 26(2), 279-302. https://doi.org/10.1108/JRME-04-2022-0058

[31] Santiago, C.-V. Santiago, C.-V. Pedro, J. C.-S. Pedro, J. C.-S. Francisco, R.-F. y Francisco, R.-F. (2020) A machine learning approach to the digitalization of bank customers: Evidence from random and causal forests. PLOS ONE. https://doi.org/10.1371/journal.pone.0240362

[32] Singh, B., y Kaunert, C. (2024). Future of Digital Marketing: Hyper-Personalized Customer Dynamic Experience with AI-Based Predictive Models. In Revolutionizing the AI-Digital Landscape (pp. 189-203). Productivity Press.

[33] Smith, W. R. (1956). Product Differentiation and Market Segmentation as Alternative Marketing Strategies. Journal of Marketing, 21(1), 3-8. https://doi.org/10.1177/002224295602100102

[34] Srisusilawati, P.Wijayanti, I. M.Yaqin, H. N., y Eprianti, N. (2023). Marketing Strategy in Building Brand Image and Strengthening the Foundation of Sharia Bank. International Journal of Professional Business Review: Int. J. Prof. Bus. Rev., 8(5), 106. https://doi.org/10.26668/businessreview/2023.v8i5.2038

[35] Suat, O. (2023). Digital Marketing Strategies and Hyper Personalization. European Journal of Science and Technology. https://doi.org/10.31590/ejosat.1147526

[36] Thomas, H. D. (2023). Hyper-Personalization for Customer Engagement with Artificial Intelligence. Management and Business Review. https://doi.org/10.1177/2694105820230301006

[37] Thu Thuy, P., y Van Khanh, P. (2024). Factors affecting customer experience in using digital banking, study in Vietnam. Journal of Economic and Banking Studies. https://doi.org/10.59276/jebs.2024.06.2666

[38] Tiihonen, J., y Felfernig, A. (2017). An introduction to personalization and mass customization. Journal of Intelligent Information Systems, 49(1), 1-7. https://doi.org/10.1007/s10844-017-0465-4

[39] Vyankatesh, A. Priti, B., y Muniza, A. (2024). Impact of digitalisation on customer experience management in retail banking. International Journal of Electronic Banking. https://doi.org/10.1504/ijebank.2024.136840

[40] Wirtz, J., y Pitardi, V. (2023). How intelligent automation, service robots, and AI will reshape service products and their delivery. Italian Journal of Marketing, 2023(3), 289-300. https://doi.org/10.1007/s43039-023-00076-1

[41] Zouari, G., y Abdelhedi, M. (2021). Customer satisfaction in the digital era: evidence from Islamic banking. Journal of Innovation and Entrepreneurship. https://doi.org/10.21203/rs.3.rs-24909/v3

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