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In a world where customer perceptions are being shaped by disruptive technologies from various sectors and businesses (think Amazon, Facebook, Uber or Airbnb), financial services organisations are facing vast new demands from customers. Customers are now accustomed to tailored products, services, and exceptional delivery, and expect the same from their financial services providers at every touchpoint.

Traditional financial service providers are also competing with new entrants into their own market. These tech driven game changers are upturning business models, service delivery and customer experience. Without the weight of legacy systems and processes, new fintechs have the potential to leave traditional organisations behind.

In addition, regulators are looking to financial institutions to not only comply with the law but to do so in a way which is consistent with broader and evolving community expectations.

There is an urgency for financial services organisations to transform, with the customer reprioritised to be at the core of every decision, process, product, service and outcome.

Here, we offer insights into the steps financial services organisations can take to develop a truly customer centric culture.

Customer internet banking on tablet

Banking and the battle for customers

In the age of the customer and disruption, Australia’s major banks must refocus.

 
Couple checking their superannuation fund

Super funds and the customer – striving for change

Australia’s super funds must shift focus to service the changing needs of their members.

 

Banking

  • Building customer loyalty in banking – Banks need to build customer loyalty to avoid losing out.
  • Banking and the battle for customers – Australia’s major banks must refocus their service approach to maintain their market share.
  • National Australia Bank – Back to the whiteboard – NAB is investing in both analogue and digital techniques to improve customer service.
  • Can banks win the fight for home loan customers? – Banks must reimagine the home loan customer experience to fend off low-cost competition.
  • Banking on the future – Discover what Gen Y professionals main product and service expectations are, and what they demand as customers.

 

Asset & Wealth Management

  • Customer experience is the next battleground for asset manager success – Asset managers seek strategies to deliver customer experience excellence to drive growth.
  • Super funds and the customer: striving for change – Australia’s super funds need to focus on the individual needs of their members to add value and be competitive.
  • Super funds: member engagement is not negotiable – In today’s digital world, members expect deeper insight and a more proactive service than just an annual report.
  • Super funds: embrace innovation to engage with members – We explore how super funds can use digital identity technology to enhance customer engagement.
     

Insurance

Smiling florist in a flower shop

The age of the customer

With customers in control, organisations must pre-empt their expectations to survive.

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