Posted by: AmberRoberts in: Financial Services -
Changes are underway in the financial services industry, arising from a variety of influences – economic, technological and political, to name a few. We tapped industry veterans – across consumer banking, investment banking and private equity – to provide their insights about the current and anticipated state of financial services. Their perspectives are wrapped up in our Financial Services Outlook Report, available here.
Considering the findings and predictions in this report, we have done some thinking about how the brands and companies we work with are situated in this new, changing landscape, and in what is likely to be a highly competitive and rapidly evolving environment. One theme that emerged from our conversations with panelists included the potential impact of the new administration, particularly in relaxing regulations. While such a move could be welcome news to the industry, we need to consider how your audiences may interpret such measures.
Another potential disruptor cited by experts was technology. Traditional banks are under pressure to give consumers convenient tools to access their accounts and conduct transactions on the go. While institutions could earn points for delivering what customers demand, there may be a price to pay: reduced human contact that is vital to forging lasting relationships.
As your brand moves to keep up with advances, consider how you can engage with audiences to maintain and grow the relationships important to driving business success.
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