Close the gap between ‘digital transformation to restore the past’ and ‘digital transformation to create a future’.

Regulatory overhead + old technology = high prices + bad services.

The way we interact with our clients today is not the way we will be interacting in a few years.

Jorge Ruiz, global head digital acceleration Citi

Financial institutions have little choice. Ready or not, the future is here.

On-demand is the expectation of the connected generations.

Scott Walchek, founder and CEO Trōv

Great customer satisfaction is not enough. We therefore focus on other key drivers of loyalty, such as customer engagement.

Elena Ford, vice president global dealer and consumer experience Ford Motor Company

The challenge is on to find ways to engage and retain customers in a mutually beneficial relationship.

Ralph Hamers, CEO ING Group

Data analytics and connectivity offer ways to interact with the customer in a continuous and mutually rewarding manner.

Moshe Tamir, Global head of digital transformation, Generali

There are great opportunities in using blockchain for digital identity, Know Your Client, asset tracking, supply chain management, smart contracts, insurance and more. Hundreds of startups are addressing these issues.

Chris Skinner

Applying technology for operational excellence is easy. Using technology to develop new forms of customer engagement is hard. It requires imagination and guts.

Guiding principles rooted in what new customer behaviour demands and what new digital technologies make possible close the gap between the financial institution and the customer.

Data enables financial institutions to help consumers enhance their lives. Daily service is the sweet spot.

New opportunities to engage with customers, new innovative products and services, and even new business models.

New paradigms instead of old conventions. From offering products to solving problems. From generic products to personal services. From transaction to interaction. From interaction to intimacy. From exchanging information to pro-active actions.

If you want to play the game, you need to change the rules.

Eduard de Wilde (director digital VODW)

Making financial institutions fit the customer.

The added value financial institutions deliver based on consumer data should be bigger than the cost of handing over privacy.

The contact frequency with customers is an essential part of the economic engine.

Mircea Mihaescu, COO Moven

The whole idea is to bring more value. Merchants don't want a new payment system. They want more customers.

Sabrina Peng, president Alipay International

Customer engagement produces new points of differentiation making it the primary source of profit.

If you promote healthier behaviour, you can offer more sustainable insurance.

Adrian Gore, founder and CEO Discovery

Because our customer groups are built around a specific need, we get enormous community engagement.

Steven Mendel, founder and CEO of Bought by Many

We will not make money by denying claims. We use behavioural economics to align interests.

Lemonade CEO Daniel Schreiber

Move upstream: to become much less dependent on search engines and comparison sites.

We will not make money by denying claims. We use behavioural economics to align interests.

Lemonade CEO Daniel Schreiber

Innovation is about understanding how new technologies will interact with consumer behaviour.

Working with fintechs is like vaccinations: they help us prepare ourselves for new attacks and adapt to changing environments.

Innovation is key and start-ups will always be the lifeblood of any sector.

Roberto Ferrari (CheBanca!)

64% of all trades via eToro are copy trades. It is changing the industry metrics. 80 to 93% of all copied trades are profitable.

Yoni Assia, CEO of eToro

Banks and insurers need to manage the feelings side of financial services.

Social is not about social media but about being social, the human scale in everyday behaviour.

A financial brand is naked and dressed by customers through their experiences.

Financial institutions should hand cues in each contact, triggering customers to develop their own stories.

Robo-advice outperforms the traditional practice of personal advice on different levels.

Excellent customer service agents outperform the current chatbots. Unfortunately, many agents are not delivering excellent customer service.

The best of both worlds: Deploy technology to empower human frontliners. Leverage human touch to improve technology performance.”

New technologies force to think from an empty page.

Design is about continuous customer connection and creating a more innovative culture.

Banks’ design crimes such as a complex banking system and complex product fact sheets are the direct result of a bad design process.

Jin Kang Zwicky (OCBC Bank)

Any financial institution that doesn’t want to rapidly lose market share, needs to start working in a more open architecture structure.

Jorge Ruiz, Citi

Contextual thinking: Immerse in the life of customers. Hang out with them. Observe them.

Delivery has to come from the inside, or it won’t be genuine. You can’t script mentality.

We use three personality traits as key criteria during recruitment, evaluations and training. harmony, humility and affection.

Enric Casi, former CEO of MANGO

Every colleague is empowered to say ‘yes’ to a customer. But is takes two to say ‘no’.

Vernon Hill, founder and chairman Metro Bank

It’s about aligning the speed of the internal organization with the speed of transformation and digitalization in the outside world.

Pol Navarro, digital innovation and transformation director at TSB

The people in the kitchen also have to learn to think from the customer’s point of view.

The challenge is to get people to be more ambitious. We have changed the word ‘no’ to ‘let’s experiment’.

Neal Cross (DBS Bank)

In many organizations not the time to market, but the “time to decisions” is the main problem.

Maurizio Poletto (Erste Group)

Combine the agility of a start-up and the power of an established brand and a wide customer base.

We’re building a plane while it flies. But when it’s perfect it’s too late.

Mark Wraa-Hansen (Danske Bank)

Leaders must make time to get into the trenches themselves to instill change.

Michal Panowicz (Nordea).

75 Thoughtleader Contributions
200 Global Best Practices
3 Practical guidelines


With contributions of 75 industry executives, fintech and insurtech leaders and experts from other industries, including:

Many of our business partners and colleagues took time to discuss the future of financial services with us, and/or shared their views in this book. Reinventing Customer Engagement includes 75 contributions from industry thought leaders – bankers, insurers, fintechs – but also from forerunners outside the industry.