Consultation with client

Financial Services, Banking & Insurance

Digital Tech to Bring in New Clients & Improve Customer Loyalty

Financial services players are dealing with the need to rework their business models to overcome shortcomings of the past and current challenges, and are looking for innovative ways to address digital challenges and opportunities, optimize processes, reduce back-office costs, align IT, manage risks, capture the economic benefits of building loyal customers, and plan for evolving competitive and regulatory landscapes.

Banks are facing intense competition from established and new players, a growing proportion of well-informed and demanding customers, relentless technological change, and ever-evolving regulatory requirements, operating in an always-on, fast-paced environment. Initiatives by technology companies like Amazon (accounts), Facebook (Libra), and Apple (Goldman Sachs) represent a growing disintermediation threat. Customers increasing are showing a preference for digitally-enabled banking channels.

Insurers are struggling with slow growth and high churn. Customers still trust their primary insurers the most, but when it comes to new insurance products, they are switching carriers more often, with digital platforms making changing easier and less expensive. They are also increasingly open to new entrants, including insurtechs, big tech, and other nontraditional players. Digital technologies are changing how products and services are delivered, and frequently it will change the nature of those products and services and even the insurance business model itself.

What We Do

We work with the leaders and marketing teams of mid-size and small banks, insurance players and financial services providers to help them:

Looking to make bring in more clients and increase customer loyalty?

Let’s talk.