How a strong digital analytics platform can take marketing and product development to the next level—without sacrificing security.
LONDON, UNITED KINGDOM, April 11, 2025 /EINPresswire.com/ — In an interview to Business Reporter, Edward Hsu, Chief Product Officer of Mixpanel explains how financial institutions can keep up with the customer experience fintechs offer by leveraging digital analytics. As fintech’s innovative services such as BNPL, e-wallets and peer lending are becoming mainstream, incumbent banks increasingly feel the need to modernise their digital analytics processes in order to dig deeper into captured data. However, legacy technology and unstructured historical data present hard-to-surmount barriers to their efforts to make the most of their product use and marketing engagement data.
To go beyond conversion rates, banks must adopt robust analytics platforms that enable them to collect and analyse data on customer behaviour, pain points and reactions. The capabilities of an analytics platform will also allow them to conduct cohort analysis and tap into user journey analytics. Using deep analytics tools, both product and marketing teams can get information not only about conversions but also customer onboarding and long-term retention, as well as customer sentiment about multi-channel customer journeys. Another important metric that these platforms provide is time-to-activation, which can suggest when nudges should be sent out to customers who have completed a company’s KYC process but have not yet engaged with the product. With these advanced data analytics tools, it’s also easier to send out targeted messages to customers depending on whether they seem satisfied, disgruntled or are still in the cooling off period. New types of metrics can also suggest product teams what feature enhancements and product improvements they should pursue in the future. Finally, strong analytics play a critical role in enhancing security and privacy as well.
Mixpanel tracks customer journeys in granular detail—before, during, and after conversion—while preserving user anonymity. This helps companies optimize web and mobile experiences, improve conversion rates, and streamline critical processes like KYC.
To learn more about how financial services can benefit from Mixpanel’s data analytics platform, read the article.
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About Mixpanel
Mixpanel is a digital analytics platform that allows anyone to get answers from their customer and business data in seconds. It offers powerful real-time charts and visualizations of how people interact with the business and its digital products. With insights into behaviours like conversion and retention, teams can collaborate more effectively and make informed decisions. Regardless of their technical expertise, builders can double down on what’s working, cut what isn’t and spend more time on their best ideas with Mixpanel.
https://mixpanel.com/
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Article originally published on www.einpresswire.com as Gaining actionable insights into product use and marketing engagement