I’ve just read an interesting post on Finextra: Financial services CIOs not spending enough time on customer-facing innovation.
Jeff Hesse, MD, financial services, Diamond, says: “Technology can be the engine behind increased profits, loyalty-building customer experiences, and the ability to navigate today’s dynamic regulatory environment.”
For me building customer loyalty is all about creating an engaging UX (User Experience) and cultivating trust, especially the latter within financial services.
But you can’t just base innovation on hunches or subjective opinions and pull a loyalty building bunny out of the magic UX hat.
Discovering what real customers want from our solutions is at the foundation of our innovation process. Uncovering their goals and motivations is achieved through contextual studies – this is true for both internal and external buy-side customers.
A devilishly simple sounding thing: ‘observe your users’. But often the simplest things are the most difficult to get right. Also internal biases can sometimes get in the way; this is why these studies are usually undertaken by external consultants with fresh insights – With fresh insights comes innovation.
We always consider: IT + Business goals + User needs, to balance our innovation.
This UX trinity is the core of our innovation process in creating loyalty-building customer experiences.