We had the pleasure of co-sponsoring Platforum’s “The Year of the Customer” conference earlier this week. As a customer-centric business, it was highly motivating to be with likeminded industry leaders. The appetite for customer focused propositions came across clearly, and so I feel optimistic that the Financial Services industry is starting to transition into becoming a truly customer facing world.
Whilst there, I had the opportunity to share the stage with Paul Davies, Design Psychologist from Etch UK to talk about Gamification and how the psychological framework behind it can be utilised to positively influence consumer behaviour. I feel strongly that the finance industry needs to step up its game, so to speak, in order to help consumers re-engage with their financial affairs. Whilst money management isn’t trivial and shouldn’t be taken lightly, looking at behavioural economics and theories such as intrinsic and extrinsic reward mechanisms could be powerful factors to help strengthen people’s engagement and financial wellbeing.
–Written by Samantha Seaton, CEO