3 ms·
In the UK there are data science groups at banks that target specifically extremely wealthy customers based on their transactions and balances. I think that the
by beforeolives 5y ago
In the UK there are data science groups at banks that target specifically extremely wealthy customers based on their transactions and balances. I think that they only focus on wealthy customers right now because they haven't scaled up properly but the plan is to eventually expand to everyone.
- bingojess 5y agoThis has happened since banks started selling investment products, wealth managers simply pull up a list of cash heavy accounts who haven't opted out of marketing where they can push investment products. Think is biz model private bankers and 'Wealth Management' arms at banks are built upon
- walshemj 5y agoHigh street banks in the UK don't really have products for HNW its normally high charging OIECs that are not good value. Ok Nat west has Coutts but not just any euro trash millionaire can get an account there