Technology combined with human expertise can help financial institutions deliver a world-class service that puts the customer first.
Like other sectors of the industry, wealth management is grappling a major question: What should be automated by robo-assisted services and what should be left for human expertise to best service clients?
The majority of insurance customer journeys get interrupted or stalled. They start off well, but generally a bottleneck pops up as soon as there is some complexity in the claims process. Most insurers are not truly considering the journey their customers want to take. With an end to end digital journey, they can radically improve the customer experience, make the claims process a lot simpler and faster, and increase their bottom line. But it has to start with an agile approach.
The banking industry is still gripped by the fallout from the financial crisis, and customer trust is at all time low. Despite the distrust, customers still endow banks with their basic trust of keeping their money safe. This is a huge advantage that must be leveraged wisely.