Since the pandemic, financial services customer behaviors have changed dramatically. Financial services companies attempted to better understand the journeys their customers take, but they often came up short despite spending millions and millions of dollars. To meet customers’ expectations today and tomorrow, Adobe’s eBook, “Shift Personalization into Overdrive,” dives into how financial services companies can build a resilient tech stack for faster and better personalization at scale.
According to a Deloitte survey of 3,000 U.S. banking consumers, 28% of Gen Z consumers and 20% of millennials are at least “somewhat likely” to switch their primary bank.
While a growing number of banks have prioritized advanced technologies like AI, machine learning, and data streaming, many banks are still not making progress. So, what’s standing in the way? We’ve observed that the primary obstacle to delivering a more personalized customer experience is often the organization itself: how it’s structured, how it operates, and the culture that drives it forward.
“But we’ve always done it that way”
So, what should financial services firms do instead?
We’ve identified four actions financial firms should prioritize:
- Define and quantify their vision
- Get the tech and data right
- Build new organizational muscle and establish new ways of working
- Execute with precision
Every financial services organization is different. If delivering a more personalized customer experience is one of your top goals, start by looking at both your organization and your technology.
Download the Adobe eBook to explore these priorities in our chapter, “Why Data and Tech Aren’t the Only CX Blockers,” featured on page 14.