# How banks can prepare for the demise of the 3rd party cookie Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2020-05-15 Category: BANKING Category URL: https://financedigest.com/category/banking Meta Title: The Death of the Third-Party Cookie: What It Means for Financial Marketers Meta Description: Discover how the end of third-party cookies will impact marketing strategies in the banking and financial services industry. Is your brand prepared for the URL: https://financedigest.com/how-banks-can-prepare-for-the-demise-of-the-3rd-party-cookiehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd031018-5-1736838918554-compressed.jpg) _By **Carolyn Corda,** CMO at data co-op ADARA_ Banking and financial services brands need to stay close to their customers. But this isn’t always easy in our fragmented media landscape. The explosion of [digital technologies](https://www.financedigest.com/how-banks-can-use-digital-technology-to-become-more-sustainable.html "How banks can use digital technology to become more sustainable") and the omnipresence of smartphones means that for brands, the days in which you could promote your brand or service simply by placing adverts on TV, on radio and in print are long gone. To effectively reach consumers, [marketers need](https://www.financedigest.com/why-you-need-to-embrace-nostalgia-marketing-right-now.html "Why You Need to Embrace Nostalgia Marketing Right Now") to develop communications which reach consumers with the right message at the right time, whatever device they are using. For the last 25 years, third-party cookies have allowed marketers to do just this, acting as the glue which [brings the fragmented landscape together](https://www.financedigest.com/impact-com-announces-partnerships-experience-event-ipx-bringing-together-all-players-in-the-partnership-economy-and-featuring-special-guest-trevor-noah.html "impact.com Announces Partnerships Experience Event, iPX, Bringing Together All Players in the Partnership Economy and Featuring Special Guest Trevor Noah") into a clear picture. However, this is all now set to change. Growing concerns over the impact of third-party cookies on user privacy have led to increased crackdowns on their use. Apple launched its Intelligent Tracking Prevention (ITP) in 2017, Firefox launched its Enhanced Tracking Protection (ETP) in September 2019 and [Google announced it will phase out cookies on its Chrome browser](https://www.financedigest.com/uk-investigating-apple-google-mobile-browser-dominance.html "UK investigating Apple, Google mobile browser dominance") by 2022 earlier this year. **How will** [marketing change?](https://www.financedigest.com/sterling-little-changed-after-mixed-labour-market-data.html "Sterling little changed after mixed labour market data") The death of the 3rd [party cookie represents a landmark moment in digital](https://www.financedigest.com/analysis-east-europes-party-is-over-as-double-digit-inflation-bites.html "Analysis-East Europe’s party is over as double-digit inflation bites") media history. For financial brands and marketers who rely on third-party cookie data to [fuel](https://www.financedigest.com/sales-of-smart-antenna-to-rise-at-8-5-cagr-through-2031-digital-transformation-of-vehicles-computers-factories-fuels-market-growth-tmr.html "Sales of Smart Antenna to Rise at 8.5% CAGR through 2031, Digital Transformation of Vehicles, Computers, Factories Fuels Market Growth: TMR") marketing activity, the future has never looked so uncertain. Third party-cookies have allowed marketers to measure engagement, provide attribution and deliver personalisation to consumers in their [marketing communications](https://www.financedigest.com/optical-satellite-communication-market-emerging-trends-to-boost-the-global-revenue-growth-discussed-in-a-new-market-research-report-by-tmr.html "Optical Satellite Communication Market – Emerging Trends to Boost the Global Revenue Growth Discussed in a New Market Research Report by TMR"). From 2022, cookies will not be able to deliver these qualities. Take personalisation as an example: with data limited to walled gardens and first-party information such as purchases, name and location – how can financial [brands deliver](https://www.financedigest.com/ringier-advertising-partners-with-brand-metrics-to-deliver-brand-uplift-measurement-on-leading-brand-campaigns.html "Ringier Advertising Partners With Brand Metrics To Deliver Brand Uplift Measurement On Leading Brand Campaigns") the deeply personalised and timely communications that consumers have come to expect? How can a [brand know it is reaching consumers](https://www.financedigest.com/slow-refunds-hurt-consumers-and-brands-alike.html "Slow refunds hurt consumers and brands alike") with the right relevant offer or information? However, if banks and financial [institutions](https://www.financedigest.com/top-5-security-technologies-that-every-finance-institution-workplace-should-consider.html "Top 5 Security Technologies That Every Finance Institution Workplace Should Consider") start preparing now, the death of the cookie does not have to spell the end of highly targeted marketing and advertising. **Building transparency** Google has set a date of 2022 for the [third party cookie’s](https://www.financedigest.com/why-a-replacement-to-third-party-cookies-is-key-to-post-pandemic-recovery.html "Why a replacement to third party cookies is key to post-pandemic recovery") final execution – meaning our industry has two years to prepare for a cookie-less future. An exciting [alternative for finance](https://www.financedigest.com/demystifying-alternative-finance.html "DEMYSTIFYING ALTERNATIVE FINANCE") marketers is the emergence of data co-ops. Based on data integrity and accuracy, data co-ops like ADARA provide financial marketers with the ability to personalise marketing [messages](https://www.financedigest.com/premium-a2p-and-p2a-messaging-market-surpass-revenues-worth-us-75-bn-in-2029.html "Premium A2P and P2A Messaging Market surpass revenues worth US$ 75 Bn in 2029") while maintaining high levels of transparency – which is naturally crucial for regulated industries. The best way to deal with issues around [privacy is to operate with complete clarity and transparency – and an effective way to do this is to leverage ethically sourced consumer](https://www.financedigest.com/power-to-the-people-how-consumers-are-calling-the-shots-when-it-comes-to-data-privacy.html "Power to the people: how consumers are calling the shots when it comes to data privacy") data – like what is found in a data co-op. Data co-ops ensure transparency as partners are only allowed to enter into the cooperative if they adhere to a number of rules, ensuring that [consumers know their data is shared for marketing](https://www.financedigest.com/top-5-players-to-account-for-45-of-global-consumer-appliance-coatings-market-share-through-2031.html "Top 5 Players to Account for 45% of Global Consumer Appliance Coatings Market Share Through 2031") purposes. **Using that [data to build](https://www.financedigest.com/how-financial-services-can-secure-data-and-build-trust-in-todays-modern-environment.html "How financial services can secure data and build trust in today’s modern environment") identities** But data alone isn’t enough. As [discussed earlier – the media](https://www.financedigest.com/yoono-discuss-the-importance-of-social-media-checks.html "Yoono discuss The Importance of Social Media Checks") landscape is fragmented. What [marketers really need is the relationships between points of data](https://www.financedigest.com/marine-big-data-market-to-expand-at-cagr-of-21-5-during-forecast-period-tmr-insights.html "Marine Big Data Market to Expand at CAGR of 21.5% During Forecast Period – TMR Insights") across touchpoints. These relationships [paint a valuable picture](https://www.financedigest.com/trade-finance-the-small-brush-to-paint-the-big-picture.html "Trade Finance: The Small Brush to Paint the Big Picture") of the consumer that marketers can use to target them effectively. Understanding that these relationships hold the [key is fundamental in moving from a cookie-based marketing strategy](https://www.financedigest.com/automotive-electronics-market-key-insights-profiling-companies-and-growth-strategies-by-2026.html "Automotive Electronics Market Key Insights, Profiling Companies and Growth Strategies by 2026 "), to an identity-driven one. Building profiles – or verified identities – takes a series of data points and layers them on [top](https://www.financedigest.com/how-financial-services-firms-can-mitigate-against-their-top-data-security-threats.html "How Financial Services Firms Can Mitigate Against Their Top Data Security Threats") of first-party data. Data coops are able to then link these back to a single person’s profile – using persistent identifiers (such as [email addresses](https://www.financedigest.com/how-to-create-a-professional-email-address.html "How to Create a Professional Email Address")) to ensure that there are groups of real people whose profiles we understand well. At ADARA we call this the identity graph, and it allows us to use both [digital and offline channels](https://www.financedigest.com/gamers-spend-twice-as-long-viewing-intrinsic-in-game-ads-compared-to-other-digital-channels-reveals-new-research-from-lumen-and-anzu.html "Gamers Spend Twice As Long Viewing Intrinsic In-Game Ads Compared To Other Digital Channels, Reveals New Research From Lumen and Anzu") to reach relevant customers. Our 600 million-strong [identity graph of customers](https://www.financedigest.com/fraud-protection-why-customer-onboarding-requires-digital-identity-processing.html "Fraud Protection: Why Customer Onboarding Requires Digital Identity Processing"), built from first-party data from over 270 partners, means we can produce 5,000 distinct segments. From this, financial clients are able to mix and match the [data sets](https://www.financedigest.com/byd-set-to-be-chinas-top-selling-car-brand-for-nov-tesla-gains-data.html "BYD set to be China’s top-selling car brand for Nov, Tesla gains -data") they need for their target customer group. For instance, if we know via [real estate](https://www.financedigest.com/real-estate-brokers-vs-agents-which-one-should-you-work-with.html "Real Estate Brokers vs. Agents: Which One Should You Work With?") data that an individual is purchasing a home, a finance brand could look to tailor communications and offers to the costs associated with this. For [investment and wealth management](https://www.financedigest.com/pragma-investments.html "Pragma Investments on Wealth Management versus Private Banking") services, it could be an indicator of a key life change, often a key time to attract new customers with long-term investment plans. Or, if traveller data shows an individual flies often and shops abroad, promoting a [card that  waives foreign transaction fees could push that marketing](https://www.financedigest.com/iran-deal-a-wild-card-for-oil-market-strained-by-supply-risks-reuters-poll.html "Iran deal a wild card for oil market strained by supply risks – Reuters poll") message from relevant to compelling. By leveraging data-coops, [marketers can understand customers and target them effectively while upholding the absolute highest standard in terms of data ethics and enshrining the privacy of the customer at the heart of the process](https://www.financedigest.com/downstream-processing-market-is-expected-to-cross-us-25-4-bn-by-the-end-of-2030-at-a-cagr-of-13.html "Downstream Processing Market is Expected to Cross Us$ 25.4 Bn by the End of 2030 at a CAGR of ~13%"). We have two [years to prepare for the death](https://www.financedigest.com/death-of-former-pope-benedict-overshadows-new-year-at-vatican.html "Death of former Pope Benedict overshadows New Year at Vatican") of the cookie. But for financial [services](https://www.financedigest.com/integrated-finance-the-advantages-of-using-financial-infrastructure-as-a-service.html "Integrated Finance: the advantages of using financial-infrastructure-as-a-service") brands who want to preserve their ability to deliver highly targeted, highly relevant communications to consumers, the time for action is now. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---