LIFE-LED Banking & Finance Thought Piece, Building Trust 23rd February 2022
Banking & Finance Thought Piece:
Following the shaky landscape of the past two years; the finance sector and its customers are facing further testing times due to rising inflation. Customers need their brands to listen and understand their financial situations, building trust as dependable and knowledgeable partners. Revisit your digital and human interactions ensuring a seamless flow between the two mediums while engaging your customer in empowering conversations.
Pave the way to trust through Empathic listening. This is a three-pillar approach that requires compassion, support, and inclusivity.
- Understand what your customers need. Approach them with compassion, allowing them to discuss their concerns and financial goals.
- Develop new tools or enhance your current digital capabilities to provide support in reaching those goals.
- Teach rather than impose. Include your customers in financial discussions by providing them with capabilities to empower them.
ENCOURAGE CUSTOMERS TO VISIT THE BRANCH IN AN AGE WHEN BANKING IS INCREASINGLY DIGITAL
HANA BANK – SEOUL, SOUTH KOREA
THE BRANCH İS DESIGNED TO REFLECT THE TRADITIONAL KOREAN HOUSE
Gen Z would visit a branch if they could drop in for financial advice and would use branches giving financial education sessions.
The Financial Brand, 2021
MOTIVATE USERS TO SAVE MONEY THROUGH GAMIFICATION OF THEIR SPENDING BEHAVIOR
USING THE ‘IF THIS THEN THAT (ITTT)’ RULE THE APP ROUNDS UP THE MONEY SPENT TO THE NEAREST DOLLAR AND DEPOSITS THE DIFFERENCE INTO A SAVINGS ACCOUNT.
65% of consumers would welcome saving tips based on their spending patterns.
THE ‘NETFLIX OF BANKING’ WHERE CUSTOMERS GET PERSONALISED RECOMMENDATIONS
MY WAY, UBS – ZURICH
CUSTOMERS WILL ACCESS A MICROSITE WHERE THEY CAN EXPLORE AND SIMULATE A PORTFOLIO AND MAKE DECISIONS IN DISCUSSION WITH AN ADVISER.
Banks will experiment and evolve their business models toward a more open, collaborative platform approach.
We take a life-led approach
Contact us to find out more about how to leverage your brand’s capabilities to build an empathic banking & finance experience, to receive our Life-led Trends Report for 2022, information on our collaborative workshops or if you want to share a creative challenge.
Email us at [email protected]