Fintech Insider Podcast by 11:FS
818. Insights: How to build trust in financial services
Jan 18, 2024
Exploring the impact of the 2008 financial crisis on trust in the industry. CEO of Carmula shares frustration with used car finance market. Importance of trust, cyber attacks, and customer well-being. Understanding customer needs and delivering value. Shift from face-to-face to digital channels. Importance of trust, customer-centricity, and financial literacy.
51:54
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Quick takeaways
- Transparency, clear communication, and access to information are key factors in building and maintaining trust in financial services.
- Delivering rich, humanistic interactions in digital channels and providing real-time, intelligent, and contextually relevant communications are crucial in creating trust with customers.
Deep dives
Building Trust in Financial Services
In this episode, the speakers discuss the importance of building trust in the financial services industry. They highlight how the 2008 financial crisis eroded trust and how the industry has since worked towards rebuilding it. The guests emphasize the need for financial services firms to provide the right products, education, and services to develop trust with customers. Transparency, clear communication, and access to information are identified as key factors in creating and maintaining trust. The speakers also highlight the significance of technology, such as digital platforms and automation, in delivering a seamless and trustworthy customer experience.
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