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Understanding your clients’ needs in depth

While their preferences are changing, the good news is that by and large retail banks still have these individuals as customers. Their first and most important financial relationship continues to be their traditional bank. As long as this is the case, banks must use this window of opportunity to build propositions that cater to their customers’ specific money management needs.


Four potential target audiences

Retail banks have largely unexplored sub-segments within their existing client base. These client personas differ significantly when it comes to their understanding of financial products and their financial situation. What they have in common is that when it comes to money, their closest and most trusted point of contact is still their bank.


1. Help me save

My situation:

  • I use a large portion of my income to finance my current lifestyle and only have a small or no safety cushion
  • I find engaging with my financial future an overwhelming topic
  • I do not differentiate between investments or savings, but want to achieve my objectives
  • I will compare prices and fees, but as I know and trust my bank will primarily rely on their offering
  • I will compare offerings based on their seamlessness and simplicity and expect them to be free or have a low flat, predictable fee like many other services that I use

The opportunity:

Activate savers and guide them towards a more complex investment proposition when the opportunity arises.

The proposition:

Goals-based saving and investing


2. Invest for me

My situation:

  • I understand the long-term importance of financially preparing for retirement and other goals
  • I have some knowledge but am sometimes not confident enough to act on my own and will turn to an outside party for execution
  • I will research and compare charges and fees, and will not accept high costs for average performance and returns
  • I have beliefs and support certain causes and want to see this reflected in the management of my money

The opportunity:

Empower active investors with planning tools and partially or fully automated investment experiences.

The proposition:

Automated investing (aka robo-advisor)


3. Let me trade

My situation:

  • I want to invest in companies and brands I know, like and trust
  • I sometimes invest only small amounts and want to pay a low flat fee for my high activity level
  • I want a slick and enjoyable experience that makes investing exciting and fun
  • I do not need advice. I will explore the experience on my own and will look for information elsewhere to guide my decision making
  • I want to create my own portfolio and track and analyse the performance of my investments myself


The opportunity:

Intrigue do-it-yourself clients with sleek, exciting tools to trade on their own.

The proposition:

Stock Trading


4. Support my growth

My situation:

  • I want to secure my family’s lifestyle and accumulate wealth for future generations
  • I need help building new revenue streams and want to explore new ways to grow my money
  • I want to leave a lasting impression and create a legacy through philanthropic objectives
  • I need an advisor who understands my objectives, values and goals and helps me to make the right choices to achieve them
  • I want to be able to trust the company and its people to make significant decisions on my behalf


The opportunity:

Entice HNWI with digitally-augmented advice and profitable service through automated processes.

The proposition:

Digital Wealth Management


Download our full report on The Future of Money Management to read more about the innovation leaders building winning propositions.




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