Let’s face it – we’ve entered the Age of the Customer. Thanks to tech giants and their “customer delight” mantras, customers have everything at their fingertips 24/7. Willing to part with personal information, but demanding superior and customized user experiences in exchange, they’re constantly seeking new products, services and marketing - as long as vendors can demonstrate that these offerings were chosen specifically for them. In short, they are looking for a new ecosystem where they are heard, understood, and catered to at all times.
Almost every industry “gets” this dynamic, and most have learned how to take advantage. But Financial Services Institutions (FSIs) are lagging behind, and non-traditional financial competitors are nipping at their heels.