Chris has worked with customers for over 20 years within the ever-evolving Customer Experience space for both innovative start-ups and global IT Giants. Over that time one thing has remained constant for Chris – his passion in how technology can help organisations get closer to their customers and continue to provide a seamless experience to meet demands in the digital economy.
In his current role at Quadient, Chris leads Financial Services Practice to advise financial institutions in how to deliver true customer-centricity whilst lowering operational costs through the practical and intelligent application of technology, process, and people. Chris has a BSc in Chemistry from the University of Reading and worked in the Investment Banking Industry for 10 years prior to transitioning to Customer Experience Technology.
The Financial Conduct Authority (FCA) recently published the latest analysis from its Financial Lives survey, which looked at the preferences and habits of nearly 13,000 people from the UK. Interestingly, the survey revealed that consumers in rural areas appear to be suffering from technophobia when it comes to banking services: they are far less likely to use their smartphones for banking than those living in urban areas. These findings are backed up with some of our own research, which found that more than half of UK consumers (62 percent) were only comfortable using banking apps for the most basic banking tasks, or not at all. The chances of rural customers applying for a mortgage or extending their credit limit could well be as remote as the locations they live in.
These numbers will no doubt fuel further conversations around the continuous closure of high-street banks, and how consumers will be affected, especially those in rural areas. The combination of testing industry conditions, changing consumer habits and the rise of challenger banks are all to blame. But as banks learn to navigate this tricky environment, they must remember to prioritise the customer and give them what they want when it comes to communication. It doesn’t matter if this is a face to face appointment about their current loan, or text notifications about their current balance, the bank needs to ensure it is communicating with the customer with the right message, and in a way that suits them. There will always be customers who don’t like to use certain channels, whether it be mobile, email or even letters, so to cater for all tastes, banks must be able to provide a great service in a wide variety of ways.