We use behavioural science to simplify customer journeys and bring a pragmatic and human touch to a complex sector
For most people, investing is both unfamiliar and complex. Individuals face a seemingly infinite array of choices of investment products. As the consumer evolves, financial companies must develop tools to overcome the numerous biases involved in financial decision making.
One of the most significant challenges for modern financial regulators and financial services alike is to recognise that we operate within a very human environment."
Cowry can help you to design financial education, journeys and products with these behavioural hurdles in mind. We use principles developed in-line with the FCA, who acknowledge the importance of using behavioural science to help customers make better financial decisions.
By embedding the human touch within your organisation, we can help you to communicate the complex nature of financial services in an easy-to-understand way and build more valuable, longer-lasting relationships with your customers.
The behavioural challenge:
Interactions with contact centres can be arduous and time-consuming. Advisors often fail to explain complex information in a simple way leaving the customer with a negative perception. Our task was to transform contact centre conversations and help CSRs confidently navigate complex interactions.
Through our pilots we have already seen significant benefits across a number of areas of the business in terms of how we’re supporting customers and making it easier for them to engage and make good decisions about their financial futures.
— Michael Reed-Smith, Standard Life (Phoenix Group Retail Director)