The conversation around customer experience in financial services pre-dates fintech. And while the topic surged after the great digitalization of services took place in 2020, conversation about customer experience in banking and fintech has once again slowed.
This regression is taking place not because we’ve perfected the customer experience or because the topic is no longer relevant. Rather, it is because other topics, like the inclusion of GenAI or the consideration of multiple, new regulations have taken the spotlight. These two factors, however, are contributing to a change in how we discuss customer experience in banking and fintech. That’s because we are now leveraging GenAI tools to use data analytics and behavioral insights to respond to and anticipate customer needs. Regulatory compliance factors, such as new privacy acts, have also caused conversations around the customer experience to mature.
At FinovateSpring earlier this year, we spoke with multiple experts to better comprehend how the conversation around the customer experience has evolved, to grasp where we are now, and to understand where the concept is headed in the future.