Today’s financial services brands live amid a sea of shifting customer expectations. Waves of financial technology companies have unlocked substantial value by putting customer needs like convenience first. However, when it comes to personal finances, customers also continue to demand the security of a trusted brand. To stay competitive in an increasingly digital space, brands must figure out how to evolve for the future while keeping customers’ core needs at the forefront.
HOW CAN FINANCIAL INSTITUTIONS EVOLVE TO MEET THE RAPIDLY EVOLVING DIGITAL CUSTOMER EXPECTATIONS?
A great customer experience starts with a deep understanding of the customer. In banking, customers want – and expect – both operational ease and extreme trust when managing their finances.
FinTech solutions that tap into customers’ desire for a convenient and transparent approach to their finances have seen rapid adoption, resetting customer expectations, and challenging some of the status quo along the way. However, the majority of customers don’t seem ready to abandon their traditional financial institutions completely just yet.
In order to remain competitive, financial service companies need to consider the core needs of their customers and plan their innovations and roadmap founded in both security and convenience.
