CUSTOMER EXPERIENCE

By Leigh Sujanto

As financial institutions look to become more customer-centric, there is still a lot that the financial services industry can learn about the importance of customer experience.

To succeed, institutions must recognise that they need to engage with customers on their terms, building customer-centric omni-channel experiences that respond to specific customer needs.

On 26 June, the FSC, in partnership with RBC Investor & Treasury Services, held the final workshop in its three-part technology series on Customer Experience.  

A panel of leaders that included KPMG's head of Brand and Marketing Mark Hassell, who previously held similar senior roles at Virgin Airlines and Birtish Airways; GROW Super's Co-founder Matt Keeley; Raiz Invests Co-founder and CEO George Lucas; with RBC I&TS' Managing Director, Head of Global Client Coverage David Brown chairing the session. 

The panel discussed their own journey with customer experience, and what they did, and continue to do to deliver rich customer experiences and improved engagement.

Ask George Lucas how RAIZ delivers good customer experience to its members, and he admits the answer, surprisingly, is with less human interaction. Where once upon a time, good customer experience meant a face, a voice, a smile and an above-and-beyond attitude.

Now, especially so in financial services, people are becoming increasingly time-poor. Lucas understands, after much data-driven analysis, that members prefer to interact via the app on their smartphones, and that trust with the business and brand can be built by making sure that experience is efficient and meaningful.

An example of GROW Super and RAIZ Invest's customer-centric app

Matt Keeley agrees saying that removing complexity is the key to good customer experience and trust. He talks about creating a 'google maps' of superannuation. Just like where you put in your destination and Google Maps gives you the route, a person should be able to input their salaries, age and retirement goals and get the roadmap they need to reach those goals.

Why are so many Australians disengaged with their super, retirement and insurances, asks Keeley? Because it is too complex. He's not wrong.

Missed out on this session? Keep your eye out for the next episode of the FSC podcast where you can listen to the full panel discussion and debate.