Financial services are increasingly permeating various aspects of clients’ lives, integrating with a wide range of products and services. Modern banks not only offer personalized experiences for wealthy clients, but they are also focusing on financial inclusion. Industry priorities are shifting towards unique digital experiences, digital asset offerings, and loyalty-building programs. What new trends are shaping the future of the financial sector and catching the attention of both professionals and clients?
In the financial sector, there is increasing emphasis on enhancing customer engagement. This strategic vision allows financial institutions to build closer relationships with clients and keep pace with technology giants, digital exchanges, and new players in the dynamically changing technological ecosystem. The main trends shaping the future of customer experiences in the financial sector are hyper-personalization, customer support enhanced by generative AI, focus on financial wellbeing, and financial services embedded in everyday apps.
Your Personalized Offer
In the coming years, financial institutions such as banks, insurance companies, and wealth management firms will focus on hyper-personalizing services. This will allow clients to enjoy products and services tailored to their individual needs. Artificial intelligence and data analytics will play a key role here. Banks will be able to offer loan offers precisely tailored to the client’s situation, insurers will adapt policies, and wealth management firms will provide individual investment strategies.
“Of course, such offers are currently on the market, but they are available to select clients with the highest incomes as part of so-called ‘premium’ services. They were primarily based on expert analysis. With the use of advanced data analysis, enabled by AI and cookies, a high degree of service personalization will be available to a much wider audience. This will benefit not only clients who will receive better matched offers, but also financial institutions that, by building closer relationships with clients, can count on their loyalty, and will profit from hitting their target audience with their products. Capgemini Financial Services staff already have the opportunity to support their clients in developing these modern technologies,” says Maciej Olszański, Financial Services Manager at Capgemini Poland.
Your Robo-Advisor
The integration of generative artificial intelligence with self-service AI systems will revolutionize financial firms’ communication with clients. Next-generation chatbots will be able to go from simple responses to executing advanced financial instructions, precisely tailored to user needs. This will allow chatbots to not only solve complex problems but also anticipate client needs, enhancing the quality of service and operational efficiency.
AI analyzing voice data can also assess the tone and mood of clients, enabling more personalized and empathetic responses from agents. This, in turn, helps build a relationship with the client, and ultimately loyalty to the brand. The introduction of generative AI in self-service systems is a significant step towards more intuitive and customer-oriented service that not only meets but exceeds expectations in the dynamically changing financial environment.
Wellness in Finance
In the coming years, financial institutions will focus not only on maximizing profits for their clients but also on improving their overall financial well-being. This means, for example, launching innovative educational programs, creating advanced budgeting tools, and offering proactive advice on debt management and saving goals. This will allow clients to better manage their finances, making more conscious and thoughtful decisions, which will bring long-term benefits to both them and the institutions themselves.
Integrated Finance
Financial services are currently available to us in various aspects of daily life, incorporated into other apps and services. With the further development of this trend, we will be able to not only make current payments faster, or automate payments based on the usage of services, but also receive investment advice based on regularly tracked spending trends. An example of integrated finance applications are mobile apps that allow for automating processes such as payments for car insurance depending on the distance traveled.
The future of the financial sector lies in the integration of modern technologies with everyday services. Companies that invest in continuous innovation and adapt to changing customer needs will be able to ensure their long-term success.
Source: https://managerplus.pl/finanse-przyszlosci-co-czeka-nas-w-swiecie-zdominowanym-przez-ai-i-cyfrowe-aktywa-40585
