Retail banking trend #1: Setting a human purpose

Efma feature

12 June 2019

FinTech is seemingly everywhere – from chatbots proactively engaging customers with sales proposals to new, algorithm-based personal financial management tools. However, as we reviewed this year’s Efma-Accenture Banking Award submissions, we were struck not so much by the prevalence of FinTech as by what we have termed “The Return of the Human Element.”

Setting a human purpose

Many customers (not just Millennials!) welcome innovation and the chance to bypass traditional ways of doing things. But many customers – again, not just Millennials – want the companies with which they do business to stand for something in addition to ease and efficiency. They choose brands based on value, but also because the brand is close to their own human values.

The DBS “Live More, Bank Less” campaign conveys the idea of a seamless, simple and nearly invisible bank that lets customers spend less time banking and more time doing things they like to do with the people they like the most.

Submit your innovative initiatives for the Efma-Accenture Customer Insight & Growth Banking Awards 2019. Participation is free of charge and open to all banks whether they are Efma members or not.

Cross-sell-CIG.jpg (67 KB)

Keywords : Corporate branding

Geography : International