Preference Based Customer Models forElectronic Banking

The advent of the internet is revolutionizingthe financial services industry. In the future, electronicbanking (EB) will become a strategic factor, evolvingfrom mere transaction banking to the provision ofindividual, highly customized solutions. For this new wayof EB it is essential to have a profound knowledge aboutthe customer. In this paper, we discuss customermodeling as a solution for establishing a centralrepository, which can provide services for various EBapplications.We show that those generic customer modelsshould include both, knowledge, e.g. about risk-affinity,attitude towards net present value and affinity towardsspecial products, in the form of preferences, but also plaininformation, like age and know-how. Furthermore, wesuggest an approach for one-to-one-banking, which, in afirst step, completes customer models from giveninformation and thereby lays ground for the ongoing steptwo, in which user specific actions are inferred....