Global Financial Services Industry Overview
The global financial services industry continues to display strong growth, which is showing no signs of slowing down. Amid the increasing concerns about regulatory changes, companies in the financial services industry are facing the need to realign their business processes to respond to the increasing demand for transparency. Leading business organizations are investing heavily in technological capabilities to remain abreast of the competition and bring the most value to the customers.
Although the global financial services space is witnessing a stipulated growth, owing to the presence of numerous competitors, several factors may influence the growth of the market. As a result, global financial services companies are focusing on combating shrinking margins in a challenging economic environment, balancing digital threats and opportunities that are emerging at speed and scale, and managing the push-pull between customer empowerment and risk management.
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The Importance of Digital Analytics Solutions For Your Company
Digital customer experience has redefined the way businesses and their customers interact. Whilst it has undoubtedly revolutionized the way many people buy products, there are still organizations which are yet to fully embrace the phenomenon and understand the multi-touchpoint sales funnels that customers now expect.
Leveraging digital analytics solution helps businesses collect, measure, analyze, and evaluate digital data based on the user’s behavior. Moreover, a digital analytics solution for businesses also helps optimize customer experience and improve overall business performance.
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About the Client
The client is a leading financial services provider, offering financial services including wealth management, asset allocation, and financial planning to private corporations and individuals.
A global financial services provider recognized that digital disruptions were impacting their competitive edge. As branch visits waned, the client realized the need to leverage a digital analytics solution to modernize and synchronize their web, online, and mobile applications to meet customer demands. With the aid of Quantzig’s digital analytics solution, the financial services provider wanted to monitor their digital performance and maintain loyalty from existing customers. Moreover, by leveraging a digital analytics solution, they wanted to diagnose deficiencies in specific channels in their marketing mix and make adjustments to strategies to enhance their overall marketing activity.
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Quantzig helped the global financial services industry client to develop and prioritize a list of desired features based on customers’ demand and business needs. The digital analytics solutions and recommendations enabled the company to build an integrated custom platform for web and mobile applications, which provided their customers with an end-to-end financial picture. The new platform helped the client increase customer loyalty and offered opportunities for cross-selling and upselling. Moreover, this enabled the financial services provider to reprioritize features based on business needs and maximize their business benefits. In addition, the digital analytics engagement also helped the financial services industry client develop improvement opportunities and create actionable recommendations.