As the UK financial services sector continues to innovate and digitalise its offerings, gaining deeper insights into customer behaviour is proving essential for enhancing engagement and retention.
The sector is beginning to leverage behavioural science to improve customer experiences and drive better outcomes. Simply put, behavioural science is the practice of understanding why people make the decisions they do and understanding how to influence those decisions.
By recognising the psychological factors influencing decision-making, they’re creating more intuitive and effective digital experiences.
Unsurprisingly it’s the disruptive fintech’s and challengers who are setting the standard in FinServ with banking apps that customers can’t seem to get enough of.
As FinServ firms and beyond seek to attract and retain customers, those effectively applying behavioural insights to create meaningful connections, and deliver enjoyable user experiences will gain an edge.
This white paper aims to provide insights into how; applying these principles within the context of mortgages and the application process, can pave the way for a more customer-centric solution.
In this white paper you'll discover:
The Paradox of Choice; Hick’s Law; Nudge Theory and Jacob's Law
Key behavioural science concepts
Applications in FinServ
Real world examples; from Monzo to Vitality
The ethics!
Re-imagining the mortgage experience
Designing effective user journeys
Expert perspectives
...and much more!
