Hello You: UK Financial Services Customer Survey
May 9, 2018
May 9, 2018
In the decade since the global financial crisis, financial services providers have made huge strides in how they use digital capabilities to interact with customers. Our survey of 4,500 UK financial services customers shows that, as a result, people are feeling more positive about their banks and insurers than they have in years. Customer trust and satisfaction in financial services is up significantly since 2015 and now rivals that of other customer-facing industries, such as retail.
But while digital services have helped financial services providers improve the speed and convenience of customer interactions, there is a risk that the customer-provider relationship is shifting away from a foundation of engagement to something more transactional. Digitisation risks dehumanising customer relationships. Overcoming this challenge will require banks and insurers to engage customers and offer personalised, hyper-relevant offerings and interactions.
Counterintuitively, it is machines and data that have the potential to put the human element back into the conversation.
Our 2018 UK Financial Services Customer Survey found that:
Based on these survey findings, we've identified four actions that insurance companies and banks should take to reintroduce the human touch into their customer conversations and relationships:
Financial services companies need to bring a human touch back to their customer relationships.