Welcome back to WMA’s Finovate 2021 video series. This week, we are sharing a discussion between William Mills, CEO of WMA, and Beth Johnson, chief experience officer at Citizens Financial Group. The pair discusses changes in the digital landscape, catering to rapidly evolving customer preferences, and the future of financial services.
Here are some highlights from the conversation:
- On the evolution of branding, Johnson shares, “It’s not just the products and services you offer but how you are as a member of the community, how do you make sure you’re thinking about topics around diversity equity inclusion or the environment.”
- When asked how to successfully develop a digital relationship with consumers as opposed to the traditional in-person relationship most institutions are used to, Johnson said, “You got to get the basics right. The basic account management tools have to be seamless, they have to be easy, and they have to be digital.” She went further to explain that once this foundation is in place, financial institutions can start building relationships and offer a better, more modern customer experience tailored around evolving customer preferences.
- Beth wrapped up the conversation by explaining the importance of a build/buy/partner strategy to create a better user experience. She explained, “It’s not something we’re going to do all ourselves. Nobody’s going to create these seamless customer experiences in every channel for every financial need on their own.” When working together, the financial industry can develop a more personalized, contemporary, and client-centric experience for all.
Watch below to see the full interview:
Finovate is a research and events firm focused on innovation in financial and banking technology. The team runs the Finovate and FinDEVr conference series and authors the associated blogs. Finovate is the only conference series focused exclusively on showcasing the best and most innovative new financial and banking technologies. Finovate conferences consistently attract large, high-impact audiences of senior financial and banking executives, venture capitalists, press, industry analysts, bloggers, regulators, and entrepreneurs. Finovate's annual events include FinovateFall in New York, FinovateSpring in San Jose, and FinovateEurope in London.