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Financial Services Post COVID

November 24, 2020

The global pandemic has produced many challenges for the Financial Services Industry including a sudden move to all virtual customer relationships, oversubscribed customer service centers, additional government regulation on risk appetite and short-term debt, and a focus on wealth preservation versus growth.

These challenges have emboldened new competitors coming from the big technology space who are particularly well placed to take advantage of the customer churn inherent in the move to a virtual world. Traditional banks and insurance companies are still struggling to make their data more actionable for their staff and more relevant to their interactions with their customers.

A well-planned analytics strategy can turn this challenge into an opportunity; building a 360-degree view of the customer that deepens relationships and optimizes customer satisfaction and value. Through implementing a data fabric across all data sources, insights into customer behavior can be linked with your risk and sales systems to provide a world class digital experience for your clients.

Predictive analytics and machine learning can be linked directly with the data being collected by front line staff to ensure agile reaction to changes in regulation and customer needs. Contact center staff can be empowered with data on all aspects of their customer increasing customer satisfaction and reducing call time and overall call center load.

Finally, financial services companies can develop a startup mentality on new products and services and rapidly optimize these to maximize customer value.

To discuss this and more, the Financial Services Post COVID virtual boardroom will bring together senior decision makers from the Banking and Financial Services Institutions in the Saudi to discuss the challenges posed by this pandemic and how they can leverage the power of analytics to turn them into opportunities.


November 24, 2020
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