R.R. Donnelley & Sons Company (RRD) today unveiled five trends expected to shape financial services institutions for the second half of the year. RRD is the leading trusted advisor to securely deliver communication and transactional documents for the financial services industry, giving the company unique insight into the challenges and opportunities.
“Since the pandemic, the financial services sector has experienced enormous advancements in technology that have helped propel the industry forward, but also introduced new complexities,” said Al duPont, Chief Commercial Officer, RRD. “Today’s tech-savvy consumers expect financial institutions to service them online, in-person, and on mobile devices. Firms are choosing RRD to partner with because of RRD’s careful monitoring, understanding, and leveraging of consumer preferences as the financial landscape evolves.”
RRD has identified five trends leading the transformation of the financial services industry, including:
Trend #1: Growing Consumer Demand for Mobile, Self-Service Transactions Drives Tech Investment – The pandemic increased the appeal of self-service offerings, with customers expecting a minimal touch, mobile-based solution to meet their financial needs.
Trend #2: Attracting Customers in a Competitive Banking Space Means Meeting Them Where They Are – A crowded banking industry creates tough competition for attracting and retaining customers, therefore knowing your customer and their channel preference is critical to reaching them successfully.
Trend #3: Bringing Insurance Annuities Up to Speed in 2022 – Outdated manual processes in the insurance industry can lead to inaccuracies, potential legal issues, and missed opportunities for new product offerings within a highly segmented broker-dealer network.
Trend #4: CX is the New Battleground for Financial Institutions – Engaging with customers to foster a more personal and lasting relationship is key for increasing customer retention and customer portfolio expansion.
Trend #5: Maintaining Compliance Amidst Regulatory Change – Compliance requirements and regulations are updated constantly, and professionals in all areas of financial services are under severe pressure to ensure they remain up to date.
more at: https://investor.rrd.com/news/news-details/2022/RRD-Releases-Five-Trends-Advancing-Financial-Services-in-2022/default.aspx?_gl=1xvk7er_gaMzY2NDQxNzE0LjE2NTQ1MTgyNjI._ga_2DQDYY9CC3*MTY2MDczOTE2OS40OS4wLjE2NjA3MzkxNjkuNjAuMC4w