The pandemic saw many companies rapidly adapting to change if they wanted to survive. As a result of this digital shift, we are now using mobile apps more than ever.
No other sector saw as much transformation as financial services. Even before the pandemic, there were only whispers of changing consumer behaviors; but suddenly now, this digital shift was not done via choice, but by necessity. Customers who were once unwilling to try new technologies now had little option, and if banks were to keep up with this change in behavior, they needed to innovate – and fast.
For the last 8 years, the FutureBrand Index has historically shown a lack of innovation, brand strength and trust in financial services. That was until 2021 when we witnessed a dramatic uptick in behavioral change towards digital adoption by consumers on the retail side of banking. The once conservative customer began to use digital channels for the first time – and liked it. Banks were in a race to achieve innovation and those who crafted their digital presence effectively and efficiently were rewarded with a change in customer confidence and an attitudinal shift towards reliability, ease of use and trust. The importance of having a convenient, easy-to-navigate digital experience cannot be underestimated.
FutureBrand’s latest podcast explores how companies in the financial services and fintech sector have responded to these behavioral changes. Host Natalie Silverman talks to FutureBrand’s Chief Growth Officer, Simon Williams, as they are joined by leading figures in the financial services and fintech sector including:
Shachar Bialick, CEO and Founder at Curve
Stuart Haire, Head of Personal Banking and Wealth Management, HSBC
Brooke Brown, SVP Brand and Enterprise Marketing Strategy, U.S. Bank
Camilla Marr, Brand Strategy Specialist