Phoenix Synergistics: Omni Channel Strategies for Financial Services

Today, consumers can interact with their financial services providers using a multitude of channels. There are the traditional channels associated with financial activity including the branch, telephone, mail and ATMs. Online PC methods are among the most popular ways for consumers to conduct financial activities. The mobile channel is growing in acceptance particularly among millennials. Social media, video and financial apps add new dimension to the expanding array of channels and services.

Consumers often use a mix of channels for simple transactions, customer service activities, and for shopping and obtaining financial products and services. Consumers may read about a financial product online, text or email someone to find out about the product, and then purchase the product in person at the branch.

As a result, providers are faced with the challenge of developing integrated omni-channel strategies in order to meet the needs of today’s consumers who expect to perform financial activities when, where, and how it is most convenient for them. Information content and the consumer’s experience need to be consistent across channels. Channel usage may vary based on the type of financial product. In order to develop a comprehensive omni-channel strategy, it is essential to examine consumer behavior, needs, and expectations.

I. List of Exhibits

II. Executive Summary

III. Strategic Insights

IV. Background Research

V. Survey Results

VI. Survey Data Specifics

VII. Questionnaire with Topline Results

VIII. Banners

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