Financial services businesses are seeing the online element of their customer experience as increasingly important in attracting and retaining customers.
With open banking and the influx of FinTechs entering the market, even the largest financial services businesses are seeing market share being eroded because of poor online experiences.
Many banks are closing branches because of a lack of footfall. A spokesman from the Royal Bank of Scotland recently said: “Since 2014 the number of customers using our branches across the UK has fallen by 40% and mobile transactions have increased by 73% over the same period.”
This means a great online experience, both via mobile app and website, is increasingly becoming a way to differentiate and overcome account switching inertia, especially with Generation X, Millennial and Generation Z customers.
We’ve worked with various types of FCA-regulated businesses including:
- Retail banks
- Wholesale banks
- Building societies
- Insurance providers
- Financial advice businesses
We’re used to working with compliance teams and believe that providing a great user experience to maximise conversion can only be done when compliance, marketing and your CRO agency work together.