The ongoing electronification of daily lives – from consuming and using online apps, tools and services via a computer or mobile device, to the gradual decline of cash payments – means that almost every movement, purchase and communication that a consumer makes leaves behind a data trail of astonishing comprehensiveness.
Few institutions have more or better access to this information than financial services firms. Banks, payment providers and card issuers are still trusted with enough data to create a truly detailed picture of consumers’ likes, dislikes, favourite shops and restaurants, comings and goings and much more besides. In other words: the consumer’s individual profile.