Keeping promises

Putting consumers at the heart of retail financial services

Becoming more customer-centric should be a priority for all financial services providers. In the current challenging economic environment, it can be a driver for growth and profitability, help defend against competitors, and ensure financial services institutions meet their regulatory obligations.

A number of recent shifts in the customer landscape have created the conditions for change:

  • Mature European markets are saturated in traditional product categories
  • Consumers have become increasingly price sensitive, displaying low loyalty and trust
  • Comparing and switching providers has never been easier
  • Supervision of financial services providers is rising and
  • Technology is radically reshaping customer channels

As a result of the shifting dynamics, financial services providers are rethinking their strategies, taking steps to improve retention and resettling customer relationships. For many firms, this means differentiating on service, enhancing the experience and investing in regulatory compliance, particularly in relation to conduct risk.


In this paper we address the growth and profitability challenge, redefine differentiation, look at how service differentiated strategies can succeed or fail, and outline the benefits of a selective approach. We also offer seven disciplines which explain how financial services organisations can deliver on the customer promise and create the right environment for profitable growth.

Keeping promises: Putting consumers at the heart of retail financial services
Did you find this useful?