Advantage customers: providers shift focus
Here are some examples that reflect the shift in the industry mindset.
The market environment for financial services has changed significantly post the 2008 global financial crisis. While regulators have realized that services and products need to have a greater focus on customers, service providers themselves have acknowledged that the endgame is in the benefit that customers derive. Besides, a severe equity market environment and rising competition is pushing companies to develop unique propositions. A number of organizations across the spectrum of financial services—be it product providers or advisers, for retail clients or high net worth investors (HNIs)—are now adopting distinctive ways to showcase customer benefit.