The document discusses how financial services firms are using digital capabilities to interact with customers but risks dehumanizing relationships. While digitization has improved experiences, it has removed human touchpoints that customers value for important moments. Customers want frictionless, personalized experiences but are uncomfortable with data monetization. The document outlines four actions firms can take to transform customer conversations: reintroduce human touchpoints; use data to personalize experiences; focus on security and transparency around data use; and partner with other industries.

1. TRANSFORMING THE
CUSTOMER CONVERSATION
IN FINANCIAL SERVICES
HELLO YOU

2. Copyright © 2018 Accenture. All rights reserved. 2
CUSTOMERS ARE BENEFITTING
FROM DIGITISATION
BANKS AND INSURERS
HAVE MADE HUGE
STRIDES IN USING
DIGITAL CAPABILITIES
AND CHANNELS TO
INTERACT WITH THEIR
CUSTOMERS
TRUST IN FINANCIAL
SERVICES FIRMS IS
NOW ON A PAR WITH
THE RETAIL SECTOR % of respondents who consider each
of the following types of entity to be
trustworthy
43% High street retail
Banks
Supermarkets
33% Online retailers
29% Insurance companies
27% IFAs
21% Insurance brokers
40%

3. Copyright © 2018 Accenture. All rights reserved. 3
BUT
DIGITISATION RISKS
DEHUMANISING CUSTOMER
RELATIONSHIPS
RELATIONSHIP SHIFT
The customer-provider relationship is
shifting from a foundation of
engagement to something more
transactional
HUMAN TOUCH
Many customers still want a
human touch, especially for
‘moments that matter’

4. Copyright © 2018 Accenture. All rights reserved. 4
DIGITISED EXPERIENCES
NEED TO BE FRICTIONLESS AND PERSONALISED
THE IMPLEMENTATION OF EFFICIENT, FRICTIONLESS JOURNEYS HAS REMOVED
THE HUMAN FEEL FROM THEIR INTERACTIONS WITH THEIR BANK OR INSURER.
Customers’ expectations of
providers are being
influenced by the rise in
popularity and use of
instant messaging

5. Copyright © 2018 Accenture. All rights reserved. 5
CONSUMERS KNOW THEIR DATA IS VALUABLE
Few are comfortable with
FS providers monetising
their personal data
Customers know their
personal data is a
valuable commodity
% of FS customers who agree that ‘My
personal data is a valuable commodity (e.g. to
Financial Services companies and other third
parties who may wish to use it), and its value
appears to be increasing over time.’
% of FS customers who are ‘comfortable’
with the idea of banks and insurers
monetizing their personal data
55% 14%

6. Copyright © 2018 Accenture. All rights reserved. 6
COOL VS CREEPY
58%of customers
fundamentally dislike
having companies
track their everyday
online behaviour and
preferences
…even when they might
receive some added
benefits in return

7. Copyright © 2018 Accenture. All rights reserved. 7
FOUR ACTIONS
TO TRANSFORM
THE CUSTOMER
CONVERSATION…

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HOW TO TRANSFORM THE
CUSTOMER CONVERSATION
ACTION 1

9. Copyright © 2018 Accenture. All rights reserved. 9
HOW TO TRANSFORM THE
CUSTOMER CONVERSATION
ACTION 2

10. Copyright © 2018 Accenture. All rights reserved. 10
HOW TO TRANSFORM THE
CUSTOMER CONVERSATION
ACTION 3

11. Copyright © 2018 Accenture. All rights reserved. 11
HOW TO TRANSFORM THE
CUSTOMER CONVERSATION
ACTION 4

12. Copyright © 2018 Accenture. All rights reserved. 12
DOWNLOAD THE FULL REPORT
TRANSFORMING THE
CUSTOMER CONVERSATION
IN FINANCIAL SERVICES
For more detail on the four key actions to
transform the customer conversation
download the full report.
Download the report [PDF]

13. PETER KIRK
MANAGEMENT CONSULTING
DIRECTOR
Copyright © 2018 Accenture. All rights reserved. 13
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SUBJECT MATTER EXPERTS
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