In her keynote speech 'Accelerate transformation, build relationships and inspire customer trust,' Alison Olsson, the Regional Vice President of Salesforce, opened up the Fintech Innovation Summit organized by Namiru Solutions by describing the crisis of trust between customers and organisations, as well as the big shifts in changing approaches to privacy and security around the world.
Keynote Lessons Learned:
- The customer trust crisis: Challenger Banks and other fintech companies will have an increasingly tough time competing not only with the traditional financial services players but also with new competition as 73% of millennials would be excited to try new financial services offerings from companies like Google or Apple or Amazon instead of their own bank (Source: Salesforce)
- Autonomous finance: Leveraging AI helps fintech companies to reduce very manual and repetitive processes and bring up teams that take care of the customers to focus more on personalized relations. In the hyper-growing fintech companies, the agents and representatives act more as advisors with more strategic and value-bringing partners.
- Customer-centric organisations: Tandem, the UK Challenger bank simplified their processes using Salesforce so that submitting an application for a mortgage only takes 15 minutes instead of the standard 90 minutes and slashed their customer service response times on a live chat to 12 seconds - a great example of customer-centricity in the financial services sector (Tandem Customer Success Story available here)
“People don't wake up in the morning and suddenly decide that they need to apply for a bank loan. So the question becomes, how do we focus on the customer and not just selling the product or building a great mobile app or chatbot, but they need to think end-to-end from the customer perspective and humanise the interactions.”
Alison Olsson, Regional Vice President at Salesforce