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Services for Individuals
As we all eagerly put 2020 behind us, what trends are we likely to see in 2021? Our team previews the challenges financial services firms could be facing this year.
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Amid a rising tide of vulnerability and increased pressure from the FCA to design products and services accessible to all, now’s the right time to ditch what we know about the ‘average’ customer and embrace inclusive design.
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Customer experiences are made up of ‘Moments of Truth’; when a person engages with your business through key touchpoints.
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There is no doubt that customer engagements have been more challenging recently as an influx of communications from anxious and vulnerable consumers coincided with huge operational upheaval as everyone began working from home.
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In the current landscape of complex layers of financial regulation and an ever-changing regulatory environment, customer identification and verification has become an increasingly time-consuming effort, both at onboarding and throughout the customer journey
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The gap between good and bad customer service is widening in the utility sector. Both energy and water companies were identified as key culprits in overcharging customers and the CAB called for regulators to do more to tackle this growing problem, particularly with regard to vulnerable customers.
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