Customer-Centric Innovation in Finance

Beschreibung

Learn how to truly understand your finance and fintech customers in the age of web3, open banking and decentralization and innovate to meet their current and future needs.
The competition landscape of finance is changing fast and it has never been so important for the finance industry to truly understand their customers. Customer-Centric Innovation in Finance helps finance and fintech innovators understand customers' behavioural motivations to drive effective product development. Relying on quantitative data is not enough: numbers can be great at telling us what people are doing but they often fail to explain why people do what they do. And if a service doesn't exist yet, there is no data to tell us how people use it. Human insights, behavioural science and qualitative data add immense value to product development. Readers will learn to innovate smarter by getting a firm understanding of why customers like their solutions and how they adapt them to suit their needs. The book presents real-life examples throughout of how customers are changing their behaviour in response to a fast-evolving financial landscape and provides practical advice on how to transform such insights into innovation. It explores how to produce customer insights for services that don't exist yet, for instance Central Bank Digital Currencies (CBDCs). It also provides descriptions of hands-on tools to build new insights and apply them to innovation and of methodologies such as portable kits, personas, digital ethnography, observations and interviews.
Authored by experts in anthropology and fintech with expertise in behavioural science, finance, digital transformation and designing and delivering financial solutions
Offers accessible advice on time-tested but little-understood ways to adapt, innovate and become future-proof amidst unprecedented change in finance
Takes an international approach, offering global insights, cases and examples from different countries
Shows how the effective use of behavourial insights can drive both incremental innovation and radical changes in solutions in the longer term, essential in the age of rapid digital transformation and Web3
Provides descriptions of hands-on tools to build new insights and apply them to innovation and of methodologies such as portable kit, personas, digital ethnography, observations and interviews

Autor*in

Erin B Taylor
Erin B Taylor is Managing Director and Founder of Finthropology and an anthropologist based in The Hague, the Netherlands. She specialises in how people's financial behaviour is changing along with innovation in financial services. She holds a PhD from the University of Sydney, Australia, and has carried out ethnographic research in the Caribbean, South America, Africa and Europe. Other projects include carrying out research for findexable's Fintech Diversity Radar.

Themen in »Customer-Centric Innovation in Finance«

Innovation customer behaviour in finance behavioural science in finance qualitative research customer-centricity future of banking future of insurance strategic foresight customer first user research culture of innovation design digital business human insights UX in finance

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"Erin Taylor and Anette Broløs seamlessly deploy their thesis about using both qualitative and quantitative research methodologies to provide a comprehensive guide to solving human-centric problems and designing innovative financial products. As our world becomes increasingly complex, this book guides us through the intricate web of technologies, needs, channels, and models in financial services. It is an indispensable resource for industry professionals and advisors alike, offering a transformative perspective that aligns with the evolving reality of our changing world."
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"This book on human centricity is certainly needed in the overly quantitative field of finance and fintech."
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"Understanding customer trust, underpins financial services companies' ability to be successful. Given the fast pace of change in customer expectations, learning about how customers identify a need and determine the right product or service is more important than ever. Erin Taylor and Anette Broløs remind us that people make financial decisions, not technology and that technology enables people. This is a must read to learn how to stay connected to customers."
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"In this book, Anette Broløs and Erin Taylor recentre the debate around humans and their needs against the backdrop of extensive data-driven innovation in finance and astutely recalibrate the thinking around the design and delivery of financial services. Using a wealth of examples, this must-read exemplifies how financial institutions can foster trust, enhance user satisfaction, and drive sustainable growth. A much-needed book in the current digital age!"
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"Erin Taylor and Anette Broløs tell us we need to 'hit the streets' and actually talk to people about their everyday lives and challenges if we want to build inclusive financial products and systems. Customer-Centric Innovation in Finance provides tools for understanding cultures of money and finance, as well as for fostering culture change in the organizations developing consumer financial products and services. A compelling guidebook to finance as, above all, a human practice, and a how-to for building a more just financial world."
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"Erin Taylor and Anette Broløs offer a rich and compelling ethnographic and data-driven account of how financial behaviour underlies the intimate dynamics of human relationships. This book is a must-read for those seeking innovative ideas and deep human insights revealed through the lens of financial behaviour."
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"Money and finance are fundamentally about people and communities. Customer-Centric Innovation in Finance insightfully argues for qualitative as well as quantitative data and methods to be used in studying the topic of money, finance and innovation."
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