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Enabling financial wellness in banking and building lasting customer relationships – How to create greater lifetime value through empathy, AI-driven real-time financial insights, and personalised banking experiences
Engage customers with empathydriven interactions.
Engage customers with empathydriven interactions.
Growing emphasis on financial wellness among consumers in Europe and the UK is driven by several key factors, such as rising inflation and living costs. There’ s increasing recognition of the importance of financial planning for future stability, but the complexity and interdependency of financial products mean that many people lack the insight to manage their finances effectively.
For Financial Services Institutions, improving customers’ financial well-being is essential for building lasting relationships. To achieve this, financial institutions must anticipate, understand, and respond to individual needs in meaningful ways.
Today’ s customers, especially younger generations, expect experiences that meet or exceed their expectations. Empathy in banking supports this. It helps drive customer interactions, strengthen relationships, and foster financial wellness. By proactively providing information tailored to customers’ personal situations and behaviours, you can help them make informed decisions and / or provide proactive, intelligent support regarding their finances at the moment they need it. Using relevant data and insights in real time allows you to deliver personalised content and experiences at scale – so you can meet consumer expectations consistently.
Digital banking as a route to customer loyalty.
Digital native financial providers such as neobanks, fintechs & insuretechs are able to outperform incumbent providers despite a low level of consumer trust across the industry. Customer expectations continue to increase, driven not only by these new Financial Service providers’ customercentric approach but also because of the experiences customers are receiving in other sectors.
However, the solution is within reach. Right now, you have a unique opportunity to stimulate individuals’ and businesses’ financial wellness, by proactively supporting awareness and decision-making through personalised banking experiences.
For almost half( 47 %) of FSI organisations,“ offering meaningful digital interactions improving customers’ financial health” is a top business priority. �
Enabling financial wellness in banking and building lasting customer relationships.
How to create greater lifetime value through empathy, AI-driven real-time financial insights, and personalised banking experiences.
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