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Customer-Centric Innovation in Finance : Leveraging Human Insights to Drive Product Innovation in the Digital Age - Dr Erin B Taylor

Customer-Centric Innovation in Finance

Leveraging Human Insights to Drive Product Innovation in the Digital Age

By: Dr Erin B Taylor, Dr Anette Brolos

Paperback | 3 April 2024 | Edition Number 1

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The competition landscape of finance is changing fast and it has never been so important for the finance industry to truly understand their customers. Customer-Centric Innovation in Finance helps finance and fintech innovators understand customers' behavioural motivations to drive effective product development. Relying on quantitative data is not enough: numbers can be great at telling us what people are doing but they often fail to explain why people do what they do. And if a service doesn't exist yet, there is no data to tell us how people use it. Human insights, behavioural science and qualitative data add immense value to product development. Readers will learn to innovate smarter by getting a firm understanding of why customers like their solutions and how they adapt them to suit their needs. The book presents real-life examples throughout of how customers are changing their behaviour in response to a fast-evolving financial landscape and provides practical advice on how to transform such insights into innovation. It explores how to produce customer insights for services that don't exist yet, for instance Central Bank Digital Currencies (CBDCs). It also provides descriptions of hands-on tools to build new insights and apply them to innovation and of methodologies such as portable kits, personas, digital ethnography, observations and interviews.

Industry Reviews
"Erin Taylor and Anette Brolos seamlessly deploy their thesis about using both qualitative and quantitative research methodologies to provide a comprehensive guide to solving human-centric problems and designing innovative financial products. As our world becomes increasingly complex, this book guides us through the intricate web of technologies, needs, channels, and models in financial services. It is an indispensable resource for industry professionals and advisors alike, offering a transformative perspective that aligns with the evolving reality of our changing world." * Tony Craddock, Director General, The Payments Association *
"This book on human centricity is certainly needed in the overly quantitative field of finance and fintech." * Paolo Sironi, Global Research Leader in Banking and Financial Markets, IBM and author *
"Understanding customer trust, underpins financial services companies' ability to be successful. Given the fast pace of change in customer expectations, learning about how customers identify a need and determine the right product or service is more important than ever. Erin Taylor and Anette Brolos remind us that people make financial decisions, not technology and that technology enables people. This is a must read to learn how to stay connected to customers." * Lisa Frazier, COO, Judo Bank *
"In this book, Anette Brolos and Erin Taylor recentre the debate around humans and their needs against the backdrop of extensive data-driven innovation in finance and astutely recalibrate the thinking around the design and delivery of financial services. Using a wealth of examples, this must-read exemplifies how financial institutions can foster trust, enhance user satisfaction, and drive sustainable growth. A much-needed book in the current digital age!" * Anne-Laure Mention, Professor of Management, RMIT University *
"Erin Taylor and Anette Brolos tell us we need to 'hit the streets' and actually talk to people about their everyday lives and challenges if we want to build inclusive financial products and systems. Customer-Centric Innovation in Finance provides tools for understanding cultures of money and finance, as well as for fostering culture change in the organizations developing consumer financial products and services. A compelling guidebook to finance as, above all, a human practice, and a how-to for building a more just financial world." * Bill Maurer, Dean, School of Social Sciences, University of California, Irvine and Director, Institute for Money, Technology and Financial Inclusion *
"Erin Taylor and Anette Brolos offer a rich and compelling ethnographic and data-driven account of how financial behaviour underlies the intimate dynamics of human relationships. This book is a must-read for those seeking innovative ideas and deep human insights revealed through the lens of financial behaviour." * Timothy de Waal Malefyt, Clinical Professor of Marketing, Gabelli School of Business, Fordham University *
"Money and finance are fundamentally about people and communities. Customer-Centric Innovation in Finance insightfully argues for qualitative as well as quantitative data and methods to be used in studying the topic of money, finance and innovation." * Ronit Ghose, Future of Finance, Citi *

Other Editions and Formats

Hardcover

Published: 3rd April 2024

Available for Backorder. We will order this from our supplier however there isn't a current ETA.

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