Picture this: A customer who has been with your company for years suddenly decides to leave. Ouch. That’s what we call churn, my friends, and it can hit a company where it hurts the most — right in the bottom line.
The FCA is raising the bar for customer care in the financial services landscape. Firms must now adhere to the Consumer Duty: a package of measures that aims to improve customer outcomes with better communication. This new Consumer Duty, recently issued by the U.K.’s Financial Conduct Authority (FCA), mandates that
The value of brand loyalty cannot be overstated — especially in the banking sector. Loyal customers recommend their bank up to 6x more, spend 25% more (on average) on their credit cards and are less likely to switch to a competitor, according to a study by Bain & Company. It’s
For decades, credit unions have offered incredible rates, low fees and face-to-face interactions — an exceptional CX many traditional, major banks are unable to offer. And it’s obvious this customer-first approach works. An impressive 90% of surveyed members believe credit unions are a great place to find both financial advice
From bitcoin to NFTs to robo-advisors, fintech is a hot topic. Have you ever been asked to “venmo” or “zelle” someone? Fintech is responsible — 3 out of 4 consumers now use payment services like these. But fintech is quickly taking hold of any and all financial industries, including mortgages,
Building trust with your customers is one of the most effective ways to retain customers long-term and benefit from their word-of-mouth referrals. Every business wants to score customers for life — and trust is key to locking in those relationships.
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