FutureBrand Podcast: The digital acceleration of financial services

31 May, 2022 Share socially

Hosted by Natalie Silverman, FutureBrand’s latest podcast explores how companies in the financial services and fintech sector have responded to continued behavioural changes. We’ll be discussing how the pandemic accelerated this digital shift and what impact this will have on financial brands and their brand experience. As well as hearing from FutureBrand’s own Chief Growth Officer, Simon Williams, joining the conversation will be:

· Shachar Bialick, CEO and Founder at Curve

· Stuart Haire, Head of Retail Banking and Wealth Management at HSBC

· Brooke Brown, SVP Brand and Enterprise Marketing Strategy at U.S Bank

· Camilla Marr, Brand Strategy Specialist

The pandemic saw many companies rapidly adapting to change if they wanted to survive. In fact, we all had to adjust to doing almost everything online. As a result of this digital shift, we’re now using mobile apps more than ever.

Arguably, no other sector saw as much transformation as the financial services. Even before the pandemic, there were only whispers of changing consumer behaviours; but suddenly now, this digital shift was not done via choice, but by necessity. Customers who were once unwilling to try these new technologies now had little option, and if banks were to keep up with this change in behaviour, they needed to innovate – and fast.

For the last 8 years, our FutureBrand Index has historically shown a lack of innovation, brand strength and trust in financial services. That was until 2021 when we witnessed a dramatic uptick in behavioural change towards digital adoption by consumers on the retail side of banking. The once conservative customer began to use digital channels for the first time – and liked it. Banks were in a race to achieve innovation and those who crafted their digital presence effectively and efficiently were rewarded with a change in customer confidence and an attitudinal shift towards reliability, ease of use and trust. Needless to say, the importance of having a convenient, easy-to-navigate digital experience cannot be underestimated.