Insight

Financial Services

Financial Services is no longer a place. It’s something you do. It’s omni-channel. It’s truly woven into life. It’s no longer about messages. It’s about curating conversations and interactions.

From the high street banks to the wealth management houses and specialised areas of insurance and venture cap’ new opportunities for growth and business transformation have been a constant for the last three decades. There have been headwinds – current low interest rates, tightening regulation, increasing operational costs and now high-stakes innovation against the clock. And of course, there’s the periodic abyss: the Great Disruption of 2008 still ripples through the global economy.

The social web has infiltrated relationships. It’s provided the environment for things like peer-to-peer lending / borrowing, and advise. This has also put mobile at the start of the customer engagement. And intelligent machines with learning capabilities are encroaching on the hallowed domain of middle management.

In the past competition came about by blurring the borders between venerable City and Wall Street institutions or familiar financial brands in the high street, now new entrants are emerging from left field. In high street banking directives designed to make customer data more open and accessible (through APIs) is going to allow new players in. Apple-pay has already made their first move. Pay-Pal, Amazon, Google, Walmart or who knows, maybe Starbucks or AirBnB, they can all get in on the action.

Get the interface right. Meet the regulatory conditions. Connect emotionally. Nurture trust. Represent a caring, responsive and inclusive world, could see these brands and others earn the right to be the consumer’s go to source for transactions and advise on all matters financial.

Financial services is no longer a place. It’s something you do. It’s omni-channel. It’s truly woven into life. Big data and analytics on-the-fly will tailor lending, insurance, healthcare, you name it, to the individual or company. It’s not about messages. It’s about listening and inserting the brand into the conversation – and then curating content and interactions. It’s against this backdrop that we’re helping financial service brands engage with staff and stakeholders to bring about change and engage with consumers and customers.