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Unprecedented convenience. Powerful self-service tools. Personalized information. Human support. Single-source offerings. Today's most successful financial services companies deliver all this, and more. They are far smarter about technology. They integrate a wide range of financial products across all of their access channels. They deliver an extraordinarily compelling customer experience. For those companies aspiring to this point, this book will be their blueprint.
Frontiers of Financial Services shows how to go beyond first-generation e-finance initiatives to capitalize on the real opportunities presented by technology and financial convergence. Through actual case studies drawn from their extensive experience, the authors show how to strengthen your competitive differentiators, better serve your customer, reduce your costs, and achieve your ultimate business goal—greater profitablity.
- Convergence, deregulation, and the dotcom crash
- 3 trends that are transforming the financial services industry—and their surprising interrelationships
- Compelling customer experience: today's #1 success factor
- What your customers value now—and how to give it to them
- The financial services superstore: deliver on the promise, evade the pitfalls
- Delivering a wider range of products and services without compromising your margins
- Many channels, one unified relationship
- Integrating branches, ATMs, Web, kiosks, wireless, and call centers
- Driving down costs—and driving up margins
- Lowering the cost of customer acquisition, retention, operations, and transactions
- Wireless, CRM, account aggregation, EBPP, and beyond
- An intelligent approach to choosing and integrating new technologies
- Redefining and renewing your core value proposition
- Building on your most important differentiators
- Implementing an eFinance platform that integrates all your customer-related systems
- Maximizing the value of your untapped customer data
- Delivering true personalized service and 1:1 marketing-cost-effectively
- Upselling, cross-selling, and beyond
- Technology, strategy, business models, and specific applications
Personalized financial services.. It's the future. But that's not good enough. You need to make it profitable now. In Frontiers of Financial Services, leading practitioners present a complete blueprint for success in today's transformed financial services marketplace. Drawing on their unsurpassed experience—including the creation of the world's first Internet-only bank—they demonstrate how to deliver customer experiences of unprecedented value and profitability.
Frontiers of Financial Services shows you how the Internet and emerging technologies are really changing your customer relationships. Learning from today's most significant successes and failures, you'll discover how to achieve the promise of convergence without falling victim to the pitfalls; and how to leverage the untapped value of your customer data.
The authors systematically review today's most important tools and technologies—from account aggregation to wireless technologies, electronic bill payment/presentment to autonomous software agents. Along the way, you'll learn precisely how to integrate new technology into an overall strategy focused on what matters most: your customer.
"This excellent book explains how future trends—and profits—in finance depend on understanding today's continuing technological revolution. Success in this new world depends on keeping customers and cutting costs."
Alexander Evans, Centre for the Study of Financial Innovation, London
