Future Focused Initiatives
Much of the innovation occurring in financial services has been limited to using technology to make the customer interface smoother. The next wave of digital will need to cut deeper by providing a network of strategic services and value to customers, such as access to new markets, financial analysis, and money management.
Engaged customers not only hold more accounts at their primary financial service provider — they also look to that same provider when considering future needs. It’s time to start thinking about how you will grow revenue by connecting the customer’s entire experience across your organization (buying a home, starting a family, launching a business, or saving for retirement).
The most successful companies are looking beyond one-size-fits-all approaches and building personalized strategies to meet customers’ specific needs over their lifetime. Going forward, leveraging the data you already have and the insights you don’t to develop deeper (and more profitable) relationships with your customers will be key.