At its core, this seismic shift emphasises the paramount importance of user-centric digital experiences in defining business value. Even traditionally storied industries like banking and finance are being disrupted by technology changes that places the customer experience front and centre. 

It’s an adage that still holds true – it doesn’t matter how big a dinosaur you are, you’re still dead when the meteor hits, and the DX meteor has hit - with early adopters of personalisation and optimisation reaping significant benefits. 

Frictionless customer acquisition, onboarding, cross and upsell, customer lifecycle value and retention are more important than ever. 

An alternate offer is just one click away 

The financial services industry has witnessed several technology disruptions that have reshaped the way businesses operate and customers interact with financial products and services, including: 

• Fintech startups: Over the past decade, a surge of fintech startups have emerged, offering innovative, streamlined, personalised customer-centric solutions across payments, lending, insurance, wealth management, and other financial services sectors. 

• Digital payments and mobile wallets: Companies like Apple, Google, and Samsung, along with fintech firms like Square and Stripe, have revolutionised digital payments. 

Personalised and optimised digital experiences are a common thread 

Personalised and optimised digital experiences are the connective tissue across marketing and service delivery. 

All disruptors are experts at crafting digital experiences that trounce their outdated competitors. Customer expectations have changed. We don’t have to wait or stand in a line at a counter anymore. To many FSI customer cohorts, the very idea of physically visiting a provider is quaint…like bygone era quaint - last century stuff. A curiosity, and definitely something to be avoided. 

Composable DX technologies like Sitecore now give companies the tools to craft the digital experience ecosystem that best works for their customers. The benefits are clear: 

• Consumer expectations: With the evolution of personalised technology, consumers now expect to be able to manage their finances from the palm of their hand. Financial services that can't meet these expectations are losing customers to more tech-savvy competitors. 

• Operational efficiency: Digitisation streamlines many processes that reduce operational costs, improve accuracy, and reduce the chances of human error. 

• Data utilisation: Digital platforms provide a gold mine of data. Financial businesses can use this data to gain insights into customer behaviour, preferences, and needs. This data can then be used to tailor services, develop new products, and improve overall customer satisfaction. 

Working with Codehouse 

Codehouse is a digital agency that builds composable experiences designed to reframe the way FSI’s win with digital. 
 
We call our fast-track, 4-week personalisation and automation methodology the Experience Engine. 

Join us for a short demonstration of how Sitecore’s DXP suite of XM Cloud, CDP, Personalise and Send combine to orchestrate cross-channel digital experiences that deliver business uplift and delight your customers.