IFF’s Financial Service team arrived bright and early at this year’s Financial Services Customer Experience conference, eager to unveil an exhibition stand bursting with exclusive insight from the fresh and innovative research they have been conducting in this space over recent months.
The team were front and centre for those arriving at the fantastic One America Square with the exhibition floor featuring remnants of an original Roman wall that once ran through the entire city, a location marred in history for an event celebrating innovation and customer experience excellence. IFF’s Alistair Kuechel, Georgina Clarke and Chris O’Brien greeted delegates with a welcome pack containing thought pieces on everything from digital banking and robo-advice to engaging millennial business decision makers, informed by insights and opinions from IFF’s Fintech Beacon community and other research. This was complemented by some gifts and treats to go along with the morning coffee.
A new reality in customer experience
The delegate list and line up was made up of a mix of traditional and digital organisations operating on the financial services space, all eager to share and learn about the latest trends and approaches to improving customer experience. Presentations were delivered from some of the industry’s leading players including Starling Bank, Comparethemarket.com, Coventry Building Society, British Business Bank and UBS Wealth Management.
Anthony Scammell of Old Mutual Wealth opened the conference by speaking about the potential of data, a treasure trove of information the industry is perhaps guilty of underutilising but understandably cautious of exploring with recent GDPR regulations and scandals of ‘data abuse’. He also noted that organisations cannot only rely on delivery via technology as there are segments of customers (e.g. older age groups, vulnerable customers) that have to have the option of engaging with financial services through alternative channels – an issue high of the agenda of the regulator.
In terms of new technologies and approaches to facilitate improvement in the customer experience, talk of AI, automation and online platforms made us feel as if the possibilities could be endless. In line with this theme, IFF’s stand included free virtual reality headsets for people to experience an immersive world. IFF’s Financial Services team are at the forefront of research in the fintech space and will continue to explore the possibilities on behalf of those looking to break the mould and go the extra mile for customers.
Customer experience perfection
It can be difficult to perfect the customer experience. Some customers’ trust, like the Roman wall, may end up in disrepair, but with financial organisations adopting a new, innovative customer-centric approach, with fresh and enthusiastic ideas, it looks like a brighter future is on the horizon and IFF’s expert Financial Services research team are on hand to help guide the way.