FinTech Magazine published an article featuring Allison Humphries, Appnovation's VP Strategy, about the contemporary financial customer experience and why personalization is key.
Digital transformation has changed how finance companies operate, but how is it altering the customer experience (CX)? Although the answer might not be straightforward, there has been a palapable shift away from 'one-size-fits-all' products and a renaissance in flexible, transpartent, and engaging alternatives. This is because, instead of being product or service-centric, companies now have an added layer of agility that enables them to mould deliverables around the end user.
"As finance becomes generally more fragmented and physical money is replaced by digital transactions, automatic payments, and more; people are inherently craving more control over their individual finances," explains Humphries.
Herein lies the value: digital technology is handing power back to the consumer; FSIs are now the facilitators of that empowerment and their CX must reflect this.