Auckland, New Zealand (1 March, 2023) — InMoment®, the leading provider of Experience Improvement (XI)™, announces 2023 financial trends from a combination of 80,000+ data points. InMoment’s proprietary data indicates that, in 2023, financial services consumers are expecting support with financial freedom, advanced digital self-service options, and new options to deliver their feedback..
Digital Self-Service Options Are Essential. Consumer data found that 1 in 3 younger customers (Millennials and Gen Z) are NOT likely to visit a bank location in person. Younger consumers expect online education resources, real-time investment tips, and personalised suggestions to be fully digital.
Brands Should Communicate Cyber-Security Strategy. This was a clear demand across consumer data, with 58% of financial services consumers stating that they are extremely concerned about cybersecurity.
Ratings and Reviews Will Be Essential For Feedback Collection. When consumers were asked their preferred customer feedback method, 33% said they would take a survey, but online reviews are much more important with 41% of consumers saying they prefer to leave feedback on a review site.
“It’s clear from the data that consumers are no longer settling for convenience, and traditional survey methods will no longer cut it in the financial services sector,” says Kiri Burgess, InMoment’s Senior Consultant. “Financial services brands need to expand their feedback collection methods to nontraditional customer signals like Google reviews, social media scraping, and voice of employee data for the most accurate view of their customers needs and expectations.”
A first of its kind, InMoment gathered this data from multiple sources resulting in 80,000+ data points. First, InMoment experts started with existing social signals about retail experiences from TikTok, Instagram, Facebook, Twitter, and beyond. Data was mined for topics and sentiment leveraging InMoment’s Spotlight solution. Next, this data was then added to online review data about retailers from Google, Glassdoor, and other sites via InMoment’s Review Management solution (our integration with ReviewTrackers) into Spotlight alongside the social data. Finally, more than 1,000 APAC restaurant and food service consumers were surveyed using InMoment’s Market Pulse for a holistic context of consumer expectations.
To download the full 2023 Financial Services Trends Report, visit InMoment’s website: https://inmoment.com/en-au/lp/2023-apac-financial-services-trends-report/
About InMoment
Improving experiences is why InMoment exists. Our mission is to help our clients improve experiences at the intersection of value—where customer, employee, and business needs come together. The heart of what we do is connect our clients with what matters most through a unique combination of data, technology, and human expertise. With our hyper-modern technology platform, decades of domain authority, and global teams of experts, we uniquely deliver a focus on Experience Improvement (XI) to help our clients own the moments that matter. Take a moment and learn more at inmoment.com
Contact: Cori Lindsey, InMoment, cori.lindsey@inmoment.com