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While technology has brought banking closer to us – into our homes and onto our phones – financial institutions are looking for ways to cross the distance many customers feel when interacting with them. In studies across the globe, we’ve found that fostering stability and trust is key – not only by proving credibility, but also by generating intimacy, connection, and even playfulness.
AN industry perspective
Financial institutions can and should play a more meaningful role in people’s lives. While financial products themselves are not inherently emotional, they are profoundly connected with some of the most sensitive and important aspects of people’s lives: becoming a responsible adult, building a career, raising your children, creating a home, running a business, and eventually, growing old.
When financial institutions manage to connect their offerings to everyday life in a helpful way, they build deeper customer relationships without overstepping people’s boundaries. To succeed, it is critical to have a clear answer to questions such as: What role do we play in our customers’ lives? What is our contribution to society? How do we make Fintech meaningful to customers?
We help financial service executives close the gap between words and actions when it comes to building more meaningful customer relationships. Through deep insight into people’s financial lives, we help leadership redefine and revitalise their ‘reason to be’, translating purpose into cross-company functionality. We help clients:
Create a differentiated value proposition to stand out from competitors
Develop a roadmap of impactful actions that cumulatively deepen customer experience
Discover new sources of growth outside the core business
Build a culture where people intuitively do the right thing
Become more profitable while growing customer loyalty
RELATIONSHIP TO MONEY
PODCAST
Kings business school ‘Connections podcast: How to make Financial Advice Accessible for all Genders
Dr Ylva Baeckstrom of the Economic Equality Impact Group talk diversity and inclusion in the finance industry with James Penny, Managing Director and Head of UK International Bank at Barclays, and Martin Gronemann, Partner at ReD
Part 1 & Part 2
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PODCAST
Money
In this episode of our Phenomena podcast, host Eliot Salandy Brown sits down with Martin Gronemann, a partner at ReD Associates leading our work in finance, and John Dalton, Vice President of Research at the Fidelity Center for Applied Technology, to unpick how social science is helping banks build richer interactions with people.
How do some executives misunderstand young people? What are the key emerging financial practices to watch? How has the digitization of financial tools made managing money even more overwhelming? And how might introducing productive friction help us make better and more informed financial decisions?
PERSPECTIVES ON FINANCE
