When you take a broad view of the finance industry and look at our surrounding society, you might start to ask questions with no clear answers. The past 18 months have taught businesses that preparation, resilience, and agility create opportunities to pivot and bring new solutions to market quickly, while also focusing our long-term strategy on what matters most. In a system mired by frustrations, complexities, regulations, and shifting priorities, we have no shortage of obstacles to overcome.
While leaders across the financial ecosystem try to understand and define the future of finance, we would like to call out a few ways they’re trying to prepare for it:
Ensure bias is removed from financial service design
Great financial service design is more than just an end goal. It includes a holistic, empathetic approach to solving problems and creating change to empower economic dignity. The small changes companies make to treat people with economic dignity have a direct, positive impact on the customer relationship. As we break down the walls of systemic exclusion within the financial sector, we must intentionally design pathways for inclusion and belonging.
Hone essential leadership skills to better serve your team
As more and more companies compete for the customer, leaders are needed who can deliver against the end-to-end customer experience, galvanize teams, and deliver value in a way that the company can own. At the same time, internal practices are evolving with new tools, techniques, and approaches, surfacing at a pace that can be hard to match. Great leaders harness this evolution and unify the complete end-to-end experience.
Break down silos and refocus your organization
Leaders who hope to create and deliver great experiences in the financial space are all too familiar with the challenge of delivering at pace and scale. Ensuring that your brand, design, and implementation is uniform among your product offerings is a challenging task, especially when large, complex organizations are prone to siloed activities that lose sight of the end-user.
The Bottomline: Finance is changing. Customers and employees alike are starting to ask more questions about inclusivity and access - and want to see how organizations respond. The way your business designs experiences is your answer to those questions. Interested in learning more about how you can design better experiences? Register for Mad*Pow’s Financial Experience Design Conference this October 20 & 21 to hear Bottomline’s CXO Brian McLaughlin and other leaders discuss the future of finance. Register with code SMARTPAY for a 30% discount.
Mad*Pow is a purpose-driven, strategic design consultancy working with industry leaders to create social impact. The annual FXD conference is an exclusive virtual gathering of industry leaders and progressive thinkers at the intersection of financial services, design, innovation, and technology, taking part in presentations, workshops, and discussions that help drive real-world change.
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