Do you really know your Banking, Finance and Insurance customers? We do, after letting our anthropologists move in with them. Our study findings will help your organization understand how people relate to money and help you attract the customers of the future.
People’s relationship with money is broken. Over half of the study respondents said money and finances are a big stressor in their lives today, and well over one-third (37%) said money was the biggest source of stress in their lives. In addition to practical concerns (managing spending habits, planning for retirement), they revealed a persistent sense of anxiety. Money pervades almost everything people value in life, and they don’t feel in control of it. Therein lies the opportunity — and the challenge — for financial services providers.
We met with experts and customers across the globe and moved in with individuals like Linda, 54, Alice, 28 and Tony, 44. They revealed nightmares and insecurities about their financial future.
The Conclusion: People’s relationship to money is broken and “the slow money challenge” is the next digital imperative in financial services.
How does that fit into your already existing agenda, everything you already have planned out?
Kaisu is an influential technology business executive with over 20 years’ experience working globally in variety of industries from start-ups to multinational organisations. Her specialty is delivering transformational change via innovative business and delivery models, focusing on human centered approaches supported by technology.
Andreas is an expert in corporate strategy and strategic transformations. He focuses on combining the human centered approaches to strategy development applied at ReD Associates with the tools and approaches used in traditional management consulting companies.
In the wake of the fintech threat and other digital disruptions, financial services executives are struggling with how to deepen their customer relationships. The problem is, many don’t understand customers’ relationship with banking and money. Until now.