This year to me has been like 1918, 1929 and 1968 all wrapped into one. As financial services is central to our economy — and society — I held a September 10, 2020 conversation with four industry leaders to discuss their strategy; the Zoom audience was about 500. Here are some key lessons from these leaders on topics like the customer experience, diversity & inclusion, technology and the opportunity for transformation.
Chetan Kandhari, SVP, Chief Innovation Officer and Digital Officer, Nationwide Mutual Insurance Company talked about the concept of true dialogue, “We have to stop viewing things as a transaction but really as a constant engagement dialogue. Go away from episodic behavior to make sure we know the journeys we all want to be on, and the transaction is only part of that. This requires advanced analytics, it requires an emotional connection, and it requires the contextual information to make it personalized. I think that’s where you have to start heading if you really want to put the customer in the center which respects that today’s customer is very digitally savvy.”
Mary McDuffie, President and Chief Executive Officer of Navy Federal Credit Union, discussed their approach towards customer centricity, “Radical simplicity is how we’re approaching change to the member experience. How do you leverage the opportunity for emotional connection through the digital interaction? Now more than ever, we have to think, ‘what does the consumer want?’ Because nobody wants something more complicated. We take a lot of time training people on empathy because at the end of the day, if the member can’t make something work, they’re going to want to talk to someone. So, I think it’s a mistake to focus solely on digital. We’re all in