Since November 2015, ING Bank in Poland has been offering a new Internet banking system, which (according to customers) is simple, intuitive and mobile friendly, and which supports the management of their daily finances. The System, which has been giving Bank access to millions of transactions is now a basis to improve its big data management as well as to launch friendly, successful communication to its 4 million plus customers in channels and ways preferred by them. My ING is built on the basis of a detailed analysis of the needs of customers. Since the beginning of the project, the Bank has been testing, on an unprecedented (even in Poland) scale, the usability of the system. ING is eager to present some of the most interesting observations/conclusions from testing Moje ING.
Australia's $2 trillion superannuation industry is fiercely competitive and recent legislation made it easier than ever for consumers to move between providers. Growing share of wallet by convincing existing customers to consolidate their entire super savings into their Mercer account is a business imperative, but annual marketing efforts were achieving diminishing returns at increased cost. Our Insights and Analytics team was tasked with identifying barriers to action and clearing the path to purchase. The work resulted in the most effective consumer marketing campaign in Mercer's history; permanently transforming the customer experience and influencing lasting change across the business.
The use of games as a part of the qualitative toolkit, contrasting their use in market research with user experience, service design and design thinking, is addressed in this paper. The relevance of games and potential in Asia-Pacific is showcased trough the games and play that were used to better cased trough the games and play that were used to better understand motivations and behaviour in the finance sector in Indonesia. Furthermore demonstrated is how games are particularly relevant for Asia, that they reveal what Behavioural Economics states, and are a mechanism for teams to not just communicate new ideas but for stakeholders to vividly experience themselves.
In an environment of increasing product parity, the need to innovate has become critical. The key input for innovation is robust and insightful data from customers. Given this scenario, this paper explores the triggers and barriers that exist within typical companies in the drive to gain better customer insights to fulfil the end need of innovation. This has been illustrated using the simple but interesting scenario of trying to target non-Muslim customers for Islamic banking products and services.
This paper provides attitudinal information collected from mutual fund investors in the United States and Europe regarding various traditional and emerging distribution channels. The author proposes that channels be redefined according to whether products are sold with face-to-face contact between the investor and seller or the sellers intermediary. Furthermore, this paper argues that there are key strategic initiatives and marketing programs that can mitigate investor anxieties and leverage favourable perceptions of various channels. These data have been collected through qualitative and quantitative research.
The Dutch financial industry makes increasing use of new distribution channels. This paper describes the degree to which this influences Dutch consumer attitudes and behaviours. The paper is based on findings from a semi-continuous study. It explains the key factors which determine the use of new channels. Consumer groups are segmented in terms of attitudes and behaviours. In addition, this paper pays attention to the differences between several types of financial services in distribution shares of channels. Information from this study is relevant to every supplier in the financial industry who is considering offering new channels to customers in the retail market.
The article presents how technical development, changing customer behaviour and lower barriers to entry into financial services markets open up opportunities for players from other industries to enter the industry traditionally dominated by banks. With their superior mastering of IT and its possibilities for distribution of products and services, lower costs and higher competence in specific fields, non-banks and near-banks are those benefiting most from the new competitive constellation. Faced with the threat of disintermediation and shrinking market share, banks have to act by embracing new concepts of distribution, making better use of IT and last but not least by colluding with their new competitors through strategic alliances and other forms of agreements.
The papers discuss new market developments and try to put findings from individual countries, product areas or customer segments into a broader context. The book brings together views of the industry from different angles with the aim of identifying the important trends that will shape the future strategies.
This paper describes how financial institutions in the United States and the affluent are responding to the availability of on-line investment services. It provides lessons learned to date in an ever fast-changing environment. The results are based on competitive intelligence interviews with executives of financial institutions, financial analysts, and proprietary research with affluent investors.