Join me in Sydney for a Dose of Product & Service Design Thinking in Financial Services, August 4th

Ryan Hart

I started my corporate career in financial services – working for several large, global high street banks in Asia. During my time “in the trenches” of wholesale and mass affluent consumer banking, I watched a number of ambitious and well-intended new product and service ideas rise through the ranks of budget approvals and stakeholder support only to make it to market and then die a slow death on the vine when customer adoption or planned value failed to meet expectations.

Notwithstanding, the ideas were good – many smart people worked on these projects. However, equipped with the clarity of time, I reflect back on some of those projects today and see a common thread between them. Fundamentally, those shipwrecks all shared one thing in common – they were never properly vetted with the customer before they were commercialized.

Today, while financial institutions are getting smarter at collecting quantitative data around channel experiences; the qualitative validation piece, the ethnographic research piece, the co-creation with customers piece is still missing in most organizations. In some cases, it’s only happening at the bleeding edge. While agile methodologies and minimum viable product-quick-to-market thinking has closed the gap on aligning with customer needs and expectations, the industry as a whole would benefit from an injection of human centered product and service design thinking to move the industry’s CX from good to great.

Join us for our inaugural invitation-only Next-Generation Financial Services summit in Sydney on Thursday, August 4 where I will delve into the topic of design thinking for financial services with my presentation, Fix your Products and Services with a Dose of Design Thinking.

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A New Era For Customer Experience In Australia? We Think So.

Tom McCann

A new era for customer experience (CX) measurement has just been launched in Australia — are you ready for it?

Forrester’s Customer Experience Index (CX Index™) report for Australian brands is now available for clients here. With the introduction of this research methodology you now have a tool that:

  • Reflects how well your brand’s customer interactions fuel the types of customer loyalty that drive revenue — retention loyalty, enrichment loyalty, and advocacy loyalty.
  • Measures how well your brand delivers on 25 industry specific drivers of CX quality, like how quickly your company resolves customers’ problems.
  • Provides a competitive benchmark of the quality of your brand’s CX compared to other brands within and across industry sectors, on a national or international level.
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