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Client content: Customer expectations of the financial services industry are evolving. Are you?

Johannesburg, 14 Oct 2021
Read time 1min 50sec
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The COVID-19 pandemic has dramatically changed customer behaviour and expectations of banking and insurance, creating a heightened sense of urgency to digitise, protect data and manage risk. But as with any change, digital transformation can be disruptive and challenging.

The rapidly assembled banking and insurance solutions that were “good enough” mid-pandemic must be reimagined to drive a better, more satisfying customer experience in a steadier state. It’s all about balancing digital advancement with the human interaction customers still want, and making change in strategic ways that allow you to disrupt your market and not your organisation, so you can lead and not lag. 

What if you could stay ahead of change and keep in step with your customers?

To help financial services organisations better navigate evolving customer needs and expectations, Xerox commissioned Forrester Consulting to evaluate the current state of digital transformation and the future of the banking and insurance industries.

The results of the online survey, with 150 respondents at the director, VP or C-level, were extremely insightful. Key findings include:

  • A gap exists between financial service firms’ perception of customer preferences and what customers actually want.
  • Seventy-five percent of respondents believe customers prefer to be engaged via automated digital methods, but only 38% of customers actually prefer this digital-only option.
  • Exactly what those customer preferences are and how to meet them.
  • Firms are balancing better end-to-end customer experience with robust rebuilding for business continuity and resilience.
  • Security and staffing are hindering digital transformation.

Get the full story.

The future of banking and insurance starts now, and the next steps in navigating digital transformation and consumer behaviour are critical. We’re here to help you get and stay ahead – step by step, outcome by outcome and win by win.

Download the Forrester Study and access strategic insights and clear recommendations to help you drive digitisation, efficiency and a better, more holistic customer experience. 

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