How Digitally Savvy Consumers Are Reshaping Credit Expectations Globally
The banking mission statement continues to centre around putting the customer first and providing efficient financial services products for them as they evolve.
Customer behaviour and expectations have shifted dramatically in the last decade and a new type of consumer is emerging: one that is educated and connected.
Being digitally empowered, customers today expect their credit providers to deliver services that are on par with the experiences they are offered by leaders in other industries.
Within the US, in the first quarter of 2019, there were 336 million VISA credit cards in circulation, with another 788 million cards outside the US and this figure is growing at an exponential rate.
While customer rewards have been criticised as cheap and promotional, companies continue to jump on the bandwagon in the hopes of increasing customer retention.
However, larger companies striving for increased market share and scale are trying to use loyalty techniques to compensate for the lack of personal relationship with customers which could potentially be cultivated with targeted market research and leveraging the capabilities of the platform model.
Join this webinar from Finextra, in association with i2c Inc., to hear industry experts discuss the following, and more:
- An overview of the significance of customer-centricity for consumer experience
- Outlining the global saturation of credit cards
- Other techniques to encourage loyalty and rewards beyond the traditional to attract new audiences (icoupons, trigger-based marketing, in the moment rewards)
- The advantages and disadvantages of the loyalty and rewards trend and how innovation plays into this
- Examples of platform capabilities and personalisation for the segment of one
- The proliferation of mobile wallets in the digital age
- Gary Wright - Head of Research, Finextra [Moderator]
- Jim McCarthy - President, i2c Inc.
- Satyam Agrawal - Regional Head of Retail Business Banking (RBB), Asia Pacific, HSBC
- Brian Cole - Head of Product, North America, Visa Inc.
> Listen to the webinar now