Companies are investing millions in everything tech but are they losing sight of the customer and what they actually want? And how viable are they?

Retail Financial Services

Retail Financial Services

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Moderator: Rob Bryson – Capgemini Consulting

Experts: Niall Barton – Wrisk; Keith Webb – Capgemini Consulting

  • Mark - collaboration with BMW. App launch next year
  • Too many policies – want one policy that covers all
  • Collaboration to ensure tech is vital
  • Consumers want dialogue, autonomous communication
  • Organisations are being held down, how can they gain the characteristics of small start-ups?
  • How do you plug into and form the right partnerships using the technology?
  • Compliance is slow, how do we speed – continuous competitor analysis
  • UBS – wealth management innovation – start-ups are getting preferential treatment
  • FCA Regulators – greater systemic risk for larger organisation
  • Change in last two years, FCA have become increasing hospitable to those who are acting in consumer’s best interest.
  • David Google – keeping talk back on consumer focus
  • How many organisations have asked consumers directly what they want?
  • Large amounts of research but insight is lacking
  • Lacking engagement in financial services???
  • Organisation structure having different department, need to change results driven
  • Companies are struggling to do the things start-ups are doing
  • Consumer satisfaction and customer focus is becoming a key area for innovation and change.
  • What if major online companies start banking??? Nervousness
  • Google tried and failed in financial world – didn’t pass the toothbrush test. Problems due to API…

Quick Summary:

  • Introducing change in large companies is tough. Small start-ups are benefiting from less regulation and have claimed market shares.
  • Finding out what consumers want and need can’t just be a research project done with large amounts of qualitative data and analytics. It needs to be done through direct and dynamic communication on an individual scale.