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Financial services companies need to bring a human touch back to their customer relationships.

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Our survey of 4,500 UK financial services customers shows that digitisation has, to an extent, dehumanised customer relationships. Banks and insurers need to engage customers and offer personalised, hyper-relevant offerings and interactions.

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Financial services companies need to bring a human touch back to their customer relationships.

  1. 1. TRANSFORMING THE CUSTOMER CONVERSATION IN FINANCIAL SERVICES HELLO YOU
  2. 2. Copyright © 2018 Accenture. All rights reserved. 2 CUSTOMERS ARE BENEFITTING FROM DIGITISATION BANKS AND INSURERS HAVE MADE HUGE STRIDES IN USING DIGITAL CAPABILITIES AND CHANNELS TO INTERACT WITH THEIR CUSTOMERS TRUST IN FINANCIAL SERVICES FIRMS IS NOW ON A PAR WITH THE RETAIL SECTOR % of respondents who consider each of the following types of entity to be trustworthy 43% High street retail Banks Supermarkets 33% Online retailers 29% Insurance companies 27% IFAs 21% Insurance brokers 40%
  3. 3. Copyright © 2018 Accenture. All rights reserved. 3 BUT DIGITISATION RISKS DEHUMANISING CUSTOMER RELATIONSHIPS RELATIONSHIP SHIFT The customer-provider relationship is shifting from a foundation of engagement to something more transactional HUMAN TOUCH Many customers still want a human touch, especially for ‘moments that matter’
  4. 4. Copyright © 2018 Accenture. All rights reserved. 4 DIGITISED EXPERIENCES NEED TO BE FRICTIONLESS AND PERSONALISED THE IMPLEMENTATION OF EFFICIENT, FRICTIONLESS JOURNEYS HAS REMOVED THE HUMAN FEEL FROM THEIR INTERACTIONS WITH THEIR BANK OR INSURER. Customers’ expectations of providers are being influenced by the rise in popularity and use of instant messaging
  5. 5. Copyright © 2018 Accenture. All rights reserved. 5 CONSUMERS KNOW THEIR DATA IS VALUABLE Few are comfortable with FS providers monetising their personal data Customers know their personal data is a valuable commodity % of FS customers who agree that ‘My personal data is a valuable commodity (e.g. to Financial Services companies and other third parties who may wish to use it), and its value appears to be increasing over time.’ % of FS customers who are ‘comfortable’ with the idea of banks and insurers monetizing their personal data 55% 14%
  6. 6. Copyright © 2018 Accenture. All rights reserved. 6 COOL VS CREEPY 58%of customers fundamentally dislike having companies track their everyday online behaviour and preferences …even when they might receive some added benefits in return
  7. 7. Copyright © 2018 Accenture. All rights reserved. 7 FOUR ACTIONS TO TRANSFORM THE CUSTOMER CONVERSATION…
  8. 8. Copyright © 2018 Accenture. All rights reserved. 8 HOW TO TRANSFORM THE CUSTOMER CONVERSATION ACTION 1
  9. 9. Copyright © 2018 Accenture. All rights reserved. 9 HOW TO TRANSFORM THE CUSTOMER CONVERSATION ACTION 2
  10. 10. Copyright © 2018 Accenture. All rights reserved. 10 HOW TO TRANSFORM THE CUSTOMER CONVERSATION ACTION 3
  11. 11. Copyright © 2018 Accenture. All rights reserved. 11 HOW TO TRANSFORM THE CUSTOMER CONVERSATION ACTION 4
  12. 12. Copyright © 2018 Accenture. All rights reserved. 12 DOWNLOAD THE FULL REPORT TRANSFORMING THE CUSTOMER CONVERSATION IN FINANCIAL SERVICES For more detail on the four key actions to transform the customer conversation download the full report. Download the report [PDF]
  13. 13. PETER KIRK MANAGEMENT CONSULTING DIRECTOR Copyright © 2018 Accenture. All rights reserved. 13 CONNECT WITH OUR SUBJECT MATTER EXPERTS SIMON TOTTMAN THOUGHT LEADERSHIP RESEARCH SENIOR PRINCIPAL
  14. 14. Copyright © 2018 Accenture. All rights reserved. 14 FOLLOW US @BankingInsights Accenture Insurance Accenture Distribution & Marketing Distribution & Marketing Blog Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 442,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com. ABOUT ACCENTURE

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