The result? Consumers are increasingly seeking more personalised banking experiences. Financial services organisations that truly understand and anticipate customers’ needs are now regarded to be in the business of ‘empathetic banking.’
Banks are aware that these needs exist, but many have not established their full strategy on how to meet these expectations through the delivery of their services. Players in financial services must also realise that a holistic customer experience cannot be achieved by solely operating within their own systems.
Consumers are looking for more personalised financial experiences and are sourcing those experiences through a variety of other providers - not just a single bank. This means a wide partner ecosystem must be kept at a bank’s disposal. Fintech players and technology companies are tapped by banks utilising sophisticated tools and offering services that are more ‘empathetic’. However, banks also need to realise how to white-label these and create a common experience to bring a more ‘human’ element into banking.
Sign up for this Finextra webinar, in association with Mambu, to join the panel of industry experts as they discuss the following areas:
- What is ‘empathetic banking’? How did this trend emerge?
- Why do customers want more personalised services?
- Do banks and financial services truly understand this customer need?
- Where, outside of their banking relationships, are customers looking to have their financial needs met?
- What tools can banks use to meet customer needs and create products that are more human?
- Where are these new shadow financial institutions likely to gain the strongest foothold in the next couple of years?
- How are new technologies and regulations around shadow financial activities changing as regulators look for new ways to protect consumers?