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Specifically , on personalisation , Hansen highlights data as a key enabler of greater customer centricity . “ Wholesale data at cloud cost and scale has made the previously impossible – or , at least , impractical – easily attainable ,” he explains . “ I have solutions , for example , that were scrapped five years ago based on their sheer cost alone , that are now possible with a few clicks and a credit card . We ’ re still in the early stages of innovation in the area , with many firms still focused on getting the fundamentals right when it comes to customer centricity . The next level will be all about the evolution of expectations .”
And while those expectations continue to evolve , Hansen reiterates the importance of one key factor in any relationship between a financial services provider and customer : trust . To this end , the digitalisation of these relationships – banking via decentralised services such as apps , the use of AI and chatbots to manage customers relationships , and machine learning to understand customer requirements requires a shift in focus . “ Historically , trust has been about the reputation
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