Switzerland is one of the leading countries for financial
services. Globally, the financial market has been forced to adapt to a new
environment as a result of the
rise of digitisation and the impacts of the COVID-19
pandemic. Whether it be asset
management or investment banking, there’s been huge changes in the industry.
With changing expectations and demands from customers, banks are having to
adjust their strategies to stay competitive in this digital landscape. Below,
we’ve outlined a few top trends that are having a huge impact on the financial
services industry.
Hyper-personalization
Hyper-personalisation is one of the biggest trends in the
financial service sector. Thanks to digitization, customers today expect
immediacy and greater visibility of their financial affairs. Thanks to big data
and AI, providing a highly personalised experience for customers is now
possible. There’s a wide range of services and products which can feel
overwhelming for customers. In the finance
world, hyper-personalisation
solves this problem by offering banking products tailored to the customer's
needs. AI-powered hyper-personalisation allows companies to gather customer
data and deliver more relevant products. As a result, this personalised
experience is much more concise for the end-user. For banks,
hyper-personalisation is a key way of standing out among the competition in
challenging financial conditions.
Fintech
In recent years, many banks and financial institutions have
partnered with fintech companies to improve their digital experiences. Several
fintech companies in Switzerland are currently disrupting the financial space.
For example, Zurich-basedapp Numbrs is an app
that enables customers to easily manage multiple bank accounts. The platform
allows users to track and manage their income across various accounts while
automatically categorising the expenses of the user. Additiv is
another Zurich-based company fintech platform that helps banks maximise their
customer engagement through digital solutions. The partnerships between banks
and fintech companies are redefining financial services, creating a much more
efficient and highly advanced environment for customers.
Voice technology
Voice technologies and speech recognition have been growing in
recent years. There’s no doubt that voice search saves time and makes it much
easier for users to interact with banking apps. Mobile apps made banking more
accessible than ever, but voice search adds another layer of unified
communication and it can be used for biometric security since voices can be
differentiated between one another. Biometric security – which is hardware that
captures a users’ identity – has been one of the top trends in the global
market, and voice-based applications are becoming a key way for financial
services to keep user data secure. Voice search benefits financial services and
banking in a multitude of ways, including improving the customer experience
with streamlined banking. While there aren’t any regulations or standards for
how financial services can leverage voice technology to its full potential,
it’s no doubt a big leap forward in the finance and banking environment.
Are you looking to recruit finance professionals?
At Swisslinx, we have an outstanding team of recruitment
consultants who specialize in hiring the best talent for roles in the financial services industry. We provide recruitment expertise to clients within asset
management, wealth management, investment banking and insurance. We’re a strong
partner in talent acquisition and our consultants have an excellent knowledge
of the financial market.
Over the years, we’ve built great relationships with our clients
and candidates, and we’ve been focused on delivering a high-quality recruitment
service. We strive to exceed the expectations of those we work with. If you
would like to find out more about financial services recruitment, contact us
today and keep reading our blog for more interesting insights.
