Industry expertise: Finance

For those in the financial sector, an effective digital strategy lets you embrace changing technologies and evolving customer attitudes.

The world of financial services is going through fundamental changes. The pace of new technology, the changing customer dynamic, and the scramble to regain trust are among the many factors turning the world of finance upside down. For retail banks, investment banks, wealth managers and insurance firms, it’s time to embrace this change or get left behind.

We have a long history of working with businesses in all corners of the finance industry, and we’re perfectly placed to help you succeed in the future. As a global operator, our knowledge and expertise means we can help financial services organisations confront some of their biggest challenges and develop digital strategies to drive future growth.

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Give us a call, or speak to your account manager, to find out what we can do to help your business reach its full potential.

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Tackling finance challenges

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The trust imperative

Trust in the financial services industry is at an all-time low. Since the crash of 2007–08, there’s been a crisis of confidence from both consumers and public bodies. This has created an environment in which new regulation and compliance is putting increasing pressure on organisations to become more transparent and responsible – and frequently prove their ‘resilience’ and risk status. In order to comply, organisations need to develop more agile, scalable business models.

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Security in the digital age

Cyber-attacks are a very real threat for finance organisations, and those who’ve been hit know just how damaging it can be. Protecting customer data is paramount, as criminals increasingly target banking customers with phishing scams. And given the increasing popularity of mobile working on smartphones and tablets, organisations have to be more vigilant than ever.

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The changing customer dynamic

Customers are becoming more demanding with higher expectations of the services they use than ever before. They expect a seamless and integrated choice of channels as they engage with a business. It’s also easier for consumers to change providers, so retaining customers is now a major challenge. The business that can differentiate its products and lead through outstanding customer service will have the edge over its rivals, reducing attrition and improving advocacy.

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Digitally empowered employees

Like most industries, financial services organisations want to attract the brightest and best. But today’s workforce is different from older generations, with different expectations. They’re ‘digital natives’, having grown up with the Internet and online technology, and they want to use it to make their working life easier. Adopting the latest technology is key to recruiting top talent and will ensure the firm takes advantage of more sophisticated employees and ways of working.

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New competitors, new money

Traditional financial service models are being vigorously disrupted and, across the world, new start-ups are revolutionising payment technology. The FinTech (Financial Technology) industry is growing rapidly and providing new and exciting ways to pay for goods. Tech giants are also getting involved, with the likes of Google Pay, Apple Pay and similar ventures from Samsung and its competitors, vying for market share.

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The innovation paradox

The great majority of finance organisations are going through a period of ‘digital transformation’, exploring and finding better ways of engaging their customer. But this needs to be achieved against a backdrop of tightening regulation and risk management that actively discourages anything new. Examples like the Aviva Drive App show how financial institutions can adopt smarter, digital ways of working today to better attract and engage customers.

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Connected Finance

Connected finance – a short story

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Why Vodafone for Finance

Take a look at our infographic and see how we can help your organisation achieve better operational agility, better connected employees and better customer engagement. Or dive straight into our full guide and see how our full range of solutions can help you be ready for anything.


Finance Tech Guides

For those in the Investment Banking or Insurance sectors, our Finance Tech Guides focus on the specific challenges you face, and help you find the right technology to overcome them.
 


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Let’s talk

Give us a call, or speak to your account manager, to find out what we can do to help your business reach its full potential.

New customers

0845 241 9560

Calls cost 2p per minute plus your phone company’s access charge.

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