Connected Financial Services
Understanding your customers using the right connected financial services strategy.
Banks need to be where their customers are, as and when they want to complete a financial transaction or have a financial need. Insurers need to support their customers in situations where they need help, advice, or insurance. If these needs happen online or in (digital) stores, then financials must be able to deliver their services on the spot when possible or they need to be connected to the customer journey.
ATMs remain very important for customers because ‘cash is still king’ in many countries and it offers a fallback to mobile payments. However, the increase in mobile and online payments has put pressure on the current ATM model. Going forward, the ATM will either be seen as a digital contact point that includes a range of other services, or it will be a white-label service capable of supporting all banks with an interface look and feel that changes according to the banking customer at the machine.
Today, one of the biggest struggles facing financials is interaction and the level of engagement. How can they stay relevant and close to the customer if the customer doesn't visit a branch anymore and all communications are done through digital channels? Banking and insurance services are no longer the sole domain of financials, other companies are now providing services. With financials under increasing pressure from new fintech and bigtechs who are taking over the most profitable parts of the business, financials are looking for new ways to engage customers and develop their role through customer channels and ecosystems.
Connected data
Everyday financials collect huge volumes of customer data which is held in internal siloed systems, new engagement platforms, mobile applications, and old legacy systems.
Connecting the dots to create a real-time 360-degree customer view is challenging. However, it’s a necessary part of delivering the right services, communicating the right messages, selling additional services, and dealing with compliance such as anti-money laundering. Making data available, improving its quality, and combining and storing it is crucial to supporting customer insights from online channels and developing new data-based service offerings - i.e virtual advisors that can recommend and advise based on data.
Connected data is not only relevant for internal systems - connection within ecosystems to other organizations through APIs is equally important. Today, buildings, cars, and people can deliver their data through connected IoT devices and this will become an integral part of future financial services.
News & Trends
Blog - Discover how IoT could change the way we think about home insurance.
It’s hard to imagine we lived through so many decades without even considering our fridge ought to be connected to our computer...
PDF - Discover the potential of IoT within insurance.
The potential of IoT in insurance is enormous. Insurers can match premiums to individual circumstances, and help influence...
Video - Discover how you can use data analytics to get closer to your customers.
Data Analytics: Getting closer to your customer video
Improving your digital customer experience with data-driven insight
At Fujitsu, we help financial service providers build trust with their customers through the use of data and technology that can deliver a relevant and consistent experience across all channels. Through the application of our wearable and sensor technology, our Self-Service Channel, and our analytics platform, we enable banks and insurers to eliminate risk and reduce the chances of things going wrong.
With experience working with organizations from all sectors we have the expertise to turn IoT data into tangible benefits in terms of; customer engagement, product development, compliance, and risk.
