Innovation | 07.28.21
ICYMI: The Latest on Digital Transformation and Trends
This week, we’ve rounded up the latest Portfolio articles focused on the importance of adapting to fast-moving industry innovations and how professionals in the bank, insurance and securities field can leverage digital trends, transformation and strategy for future success and problem solving.
“In the past, many banks worked slowly to adopt new communications tools; that was because of the administrative and compliance headaches associated with managing workflow, as well as on-boarding vendors and archiving content. But the sudden interruption of traditional marketing during the pandemic, and some recent clarify from regulators, is spurring much more rapid adoption.”
Many professionals are still finding their way on social media and learning best practices for communicating with prospects—gaining some friendly trust, not being too heavy-handed. Now, there is new research to quantify and underscore some noteworthy trends.
“While the rules of engagement have changed, the process of building trust in a digital setting often mirrors real world interactions.”
The global pandemic changed everything. Financial services professionals, isolated at home for months, were forced to reinvent how they did their jobs. And that meant harvesting digital leads—as opposed to hitching wagons to foot traffic. Digital prospecting is the new normal in the bank advisory channel. Industry leaders say the trend will continue long after normalcy returns.
“Consumers and businesses are getting used to fast-moving innovations that solve problems, create opportunities, and increase productivity.”
When the pandemic fades from memory, members of the advisory industry say there are going to be a number of game-changing trends that are here to stay.
"So much of AI is about leveraging the information hidden in the data both you and others hold to its full potential.”
Prior to the pandemic, when retail banks talked about developing a digital strategy, it was pretty much just that – talk. But circumstances have a way of forcing action, even in the face of obstacles. Read more about “digital transformation” efforts.