Customer AcquisitionTechnology is driving change across banking, insurance and investment management companies. In an increasingly cashless and digital world, today’s financial services customers expect more tailored products and improved service access.
At the same time, market entrants will make meeting customer demands even more important for established players. However, the role of the Financial Conduct Authority (FCA) and its determination to secure both regulatory compliance and innovation for customers makes striking the right balance difficult.
Firms need to make sure that customers end up with what the FCA calls ‘fair outcomes’, and that’s going to require a transition towards strategies that are 100% focused on the customer.
Current challenges in the industry
For financial services to become genuinely customer centric they need to rethink customer and prospect engagement contact points. This will require a business-wide focus, from initial targeting and marketing all the way through to managing daily interactions.
Gaining such a single customer view isn’t going to be easy. Many firms still need to fully integrate systems and databases post mergers. There are also still significant disconnects between many financial services organisation’s digital and contact centre processes. Bringing these together while maintaining compliance will remain complex.
How we help financial services companies
C-Centric is expert in identifying, analysing and acting on the multiple data feeds that financial services firms need to integrate to create a true single customer view. We’re used to sourcing separate data feeds from multiple suppliers, so are well placed to help financial services firms deliver this.
C-Centric also has a major role to play in terms of identifying data disconnects, and ensuring that customers don’t get left behind when a process doesn’t work for them.
For example, collecting customer details from a broken online process, and prioritising those contacts so that customers are immediately called and given the opportunity to progress their journey.
Talk Talk said …
“With C-Centric and C-CAM we can build compliance monitoring into our campaign management tool from the outset. The result is that compliance becomes second nature, and is no longer seen as a hurdle to be overcome in sales calls.” – TalkTalk
