Humanizing Brand Experience: Financial Services, Vol 3
In our third year of this groundbreaking study, we're excited to deliver unparalleled insights into the customer experience in the financial services sector at both macro and micro levels.
Understanding the report
The Humanizing Brand Experience: Financial Services Vol 3, report, informed by 5,500 consumers, explores what drives the best customer experiences and highlights specific actions needed for financial institutions to attract and retain customers.
Methodology
Our research framework is based on the latest social science and customer experience thinking. At the heart of the framework is a validated model that has been proven to drive customer satisfaction and advocacy in the U.S.
The framework takes into account 60+ drivers and evaluates financial institutions’ customer experience using four key dimensions: Intellectual, Emotional, Sensorial, and Behavioral.
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Inside the report – Trends we explore
1. Banking on relationships
Traditional banking models are undergoing a fundamental transformation. Banks can no longer rely on passive customer relationships to fuel long-term customer loyalty.
2. Digital as the experience frontier
Digital is brand, and brand is digital. In order to keep up, we need to shift our digital mindset from replicating the analog to building digital experiences that leverage the authority and reach of a transformational ecosystem.
3. Incentives and rewards
While it may sound like a no-brainer that monetary incentives and rewards are attracting customers, there may be a deeper underlying motivation behind their appeal.
4. Banking up close and personal
It’s no longer a choice, it’s an imperative. As customer demands and expectations continue to evolve, financial institutions must find alternative ways to capture the hearts, minds, and wallets of customers.
5. The era of active banking
Due to both the growing optionality in personal finance and the uncertain economic climate, consumers are more proactive than ever when it comes to managing their finances.
6. Tangible touchpoints still matter
While there is a decline of in-person branch visits, the impact of these experiences must move from transactional to relational in order to build brand affinity.
“This year’s report underscores a fundamental change in how consumers perceive banking. It’s no longer just about transactions; it’s about trust, confidence, and partnership. Banks must understand that customers are seeking not just financial services but guidance, assurance, and a sense of community. Embracing these shifts will be key to success.”
– Brian Elkins, Executive Director of Strategy for Financial Services, Monigle
Additional resources
Revitalizing Financial Services for evolving customer demands
