Banking & Finance
Financial services businesses are being disrupted by fintech and insuretech competition who are building challenger backs and digital propositions. They are doing this without the overheads and existing cost structure of the traditional banks and moving quickly into the encumbents markets. The incumbents therefore need to respond with better digital propositions in order to keep their customers.
A pillar to building a truly digital experience is to personalise, to look at how customers are interacting with your business and tailoring the service and recommendations accordingly.
Likewise, there are many opportunities to identify negative situations such as disgruntled or vulnerable customers and step in before the customer is lost or regulatory requirements are met.