In this report, we examine how consumers interact with financial services and, more importantly, how they want to interact in the future.
Pre-purchase research plays a critical role, being undertaken by 80% of consumers before making a significant purchase or investment decision.
Our research also highlights an appetite for greater online access to financial services – though consumers are less likely to secure complex products unassisted online. Technology could be leveraged to meet this need with unified, multiple advice options encompassing full advice, scaled or guided advice and self-service.
Accessibility, simplicity and convenience are also key themes, with 23% consumers calling for a single view of all their financial information.
There is clearly an opportunity for financial services companies to do more to match the consumer experience and engagement expectation, and build more trust from the digital consumer. We believe this report provides the industry with insights into how this can be achieved, and in which direction it must evolve to match the development of the digital consumer in the UK.