Taking the Financial Services Customer Experience to the Next Level
The financial services industry (which includes commercial and retail banking and wealth management) has emerged as a hot spot for customer experience (CX) transformation initiatives. Under pressure from disruptive competitors, the pandemic-driven shift to digital service provision, and the economic fallout from sharply curtailed business activity, financial services companies are counting on CX to differentiate themselves and spur growth. According to a recent survey of nearly 1,100 executives by Harvard Business Review Analytic Services, 64% of the 114 respondents from financial services companies say that improving CX is a top-five business priority for the year ahead. Financial services companies are investing heavily in digitalizing their operations to deliver memorable customer experiences efficiently, effectively, and in compliance with increasingly complex government regulations.