NG Data’s blog on banking customer insights asked 28 of us in the industry how to better gather customer data. Co-founding certainly gave me more insight, and I’ve found that the best way for a bank to get more insight is via social media and mobile app surveys. These platforms are easy to use on smartphones, convenient, and this approach makes it easier to share. You can make surveys with simple, low-cost or even free tools that will take care of a lot of the data analysis for you. Banks can draw in even more participants with prizes.

Deb Shaw of says that consumers (and especially Millennials) are sharing more and more on social media. Banks should keep an eye on what customers are saying on these platforms. More transparency helps to develop better fintech products and improves customer relationships.

Many Yoh of ReviewTrackers says to look at online reviews for more information. Customers aren’t getting any incentives, and offering information of their free will is gold. Banks need to go where the customers are, not the other way around.

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