Alexa, what’s the rate on my home loan? Big tech's CX-driven move into financial services

Global big tech companies have dipped their toes in the water with payments and some in China are now expanding into the provision of credit, insurance, savings and other investment products, either directly or in cooperation with established financial institutions.

With the exception of Netflix, the so-called FAANG companies (Facebook, Amazon, Apple, Netflix, and Google) and their Chinese counterparts BAT (Baidu, Alibaba, Tencent), are all exploring or offering financial services.

Topics: Customer experience Finance CX Articles & Insights banking

CX Key As Royal Commission Creates Opportunity For Alternative Banks To Rise

The Royal Commission into the Australian financial industry has unearthed some nasty truths about the nation’s Big Four banks including revelations that they provided shoddy home loan, credit card and financing information, charged fees for no service, intentionally misled the regulator and lost customer data.

Topics: Customer experience Finance CX CX Articles & Insights market research banking

5 Ways Australia's Biggest Banks Can Regain Consumer Trust

“I explained I’m a gambler...they can clearly see that I’ve got a gambling problem because of the transactions I’ve been making, and I don’t understand why they keep offering me more money.”

- David Harris, a witness in the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry

Topics: Customer experience CX Articles & Insights banking

How the financial services industry can remain competitive in the digital world

Customers of the financial services industry (FSI) have become exceptionally fickle. They expect to interact with their banks and insurance providers, among others, on their own terms – through their preferred channel and at their preferred time. Furthermore, the value of brand loyalty has diminished, with research firm YouGov finding that 34 per cent of Australians would abandon their banks following a bad experience.

Topics: Customer experience Finance CX Articles & Insights banking

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