As anyone with a bank account can attest, the customer-side experience with financial institutions leaves much to be desired. Cognizant recently collaborated with ReD Associates on a study, "The Future of Money" which examined people's experiences with money and banking to reveal areas of opportunity for financial institutions to better understand their clients' needs, and through that understanding, better serve them. We caught up with Philippe Dintrans, Global Consulting Leader, Banking/Financial Services for Cognizant to shed light on the study and talk about the role consulting firms can play in improving those lifelong financial relationships.
Consulting: What was the core purpose of the Future of Money study?
Dintrans: The crux of the study is to really understand people's relationship with money. The thing that's different about this study compared to other research that may have been done is that we really tried to look not at what people tell us, but what people actually do and how they behave in their own environment, their own ecosystem, as it relates to money. The study was really done with an anthropological mindset to be able to observe what are people really doing when they think about their insurance, when they think about their retirement accounts, when they think about preserving and increasing their wealth.
