EFFECT OF HYPER-PERSONALIZATION ON REWARDING BANKING EXPERIENCE FOR CUSTOMERS: A CASE STUDY OF CCA BANK

Abstract

1. Introduction The landscape of modern banking is undergoing a dramatic shift fueled by hyper-personalization, which involves tailoring banking experiences to individual customer preferences and behaviors, enhancing satisfaction and loyalty. In a competitive banking landscape, offering personalized experiences can differentiate competitors where empirical study findings lack in this area of study. Therefore, this research attempted to identify the effects of Hyper-Personalization on rewarding the banking experience for customers of CCA Bank. 2. Research Methodology The research selected a positivist epistemological standpoint and a deductive research approach. A sample of 384 participants was selected during June-August 2024 from the estimated population of over one million CCA customers in the Western Province of Sri Lanka. Simple random sampling was employed to ensure representativeness. A structured survey questionnaire was administered to collect data, which was subsequently analyzed using descriptive statistics (mean, mode, standard deviation) and inferential statistical analysis (chi-square test). 3. Findings and Discussion The study concludes that hyper-personalization plays a vital role in shaping a rewarding banking experience by aligning products, services, and interactions with individual customer preferences in real-time. The synergy of contextual, dynamic, channel-specific, and omni-personalization enhances customer satisfaction and loyalty. However, successful implementation requires robust data management, consistent customer touchpoints, and a strong focus on privacy and security. 4. Conclusion and Implications The study shows that hyper-personalization, including contextual, dynamic, channel-specific, and omni-personalization, significantly enhances customer banking experiences at CCA Bank. These strategies improve satisfaction, loyalty, and engagement but require careful data management and addressing privacy concerns to fully realize their benefits