New Report: COVID Impact on Consumer Financial Services in the US

We're excited to announce the release of our new report:

COVID-19 and Consumer Financial Services:

Assessing the Impact on Banking, Insurance, and Wealth Management in the US

Findings are based on the results of our July 2020 online survey of household decision-makers in the United States. (Contact us for a copy of the Canadian version - coming soon!)

This study digs in to better understand how consumers' financial outlook has been impacted by the pandemic, how behaviors have changed, and whether those changes are likely to last. From there, we've identified opportunities for Financial Institutions (FIs) to adjust their interactions and experiences for this new and dynamic environment. Research highlights include:

  *   American consumers have concerns about their financial future, regardless of whether their household income has been negatively impacted by the pandemic.

  *   COVID has presented new opportunities for digital transformation which many consumers are embracing, although digital doesn't work for every interaction.

  *   Consumers want better communication from their FIs.

You can access a topline summary of the report here.  And as you continue to evolve your post-pandemic strategic plans, please contact us to request a virtual presentation and discussion of a customized version of the full report for you and your organization. 

Written by Stephan Sigaud

Stephan Sigaud, MBA, is Phase 5’s EVP of Marketing. Stephan is passionate about partnering with clients to address their challenges and opportunities around customer centricity. With more than 25 years’ experience in Market Research and Customer Loyalty and Experience, Stephan has been volunteering with both the Customer Experience Professionals Association (as Board member and past Chair of the CXPA Toronto Network) and the Canadian Marketing Association's (as member of the Leaders Network and past co-Chair of the CMA CX Council).