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Drivers of Change: Harnessing the Power of Technology and Culture

Adrenaline’s D. Christopher Howe discusses how technology is changing customer expectations.

On Monday, September 18th, D. Christopher Howe, Adrenaline's Senior Vice President of Retail Experience Design, presented at the Novantas SalesScape Symposium in New York on the rapid pace of disruption in the financial sector and key influencers of change. As a leader in analytic advisory services and technology solutions for financial institutions worldwide, Novantas helps organizations across the financial spectrum with forward-thinking solutions. Adrenaline's insights on the dynamic relationship between the digital and physical worlds and viewpoint on proactively ushering in change helped attendees envision how their organizations could contribute to redefining the future of financial services.

Process

Howe says, "If we look at some recent disruptors in various market segments, what's happening to make them successful? It's less about the technology itself and more about the possibilities it provides. Industry disruptors, like Uber, are leveraging technology to automate the predictable aspects of their business and delivering a seamlessly integrated experience that traverse from one channel to the next. those same dynamics exist in financial services, whether it's opening accounts, seeking advice, checking account balance, making withdrawals or deposits. As overwhelming as technology can be, it is providing massive opportunities to innovate for those who are ready to rise to the challenge."

“Industry disruptors, like Uber, are leveraging technology to automate the predictable aspects of their business and delivering a seamlessly integrated experience that traverse from one channel to the next.”

D. Christopher Howe, Adrenaline’s Senior Vice President of Retail Experience Design

In Howe’s opinion, “There exists a dynamic relationship between technology and culture and they are the key drivers of change. The access customers have to information is overwhelming and they are coming to the branch far more educated than they ever have before.  Further, the speed at which information is transferred is further shifting consumer expectations. Technology is allowing us to not only filter the world around our individual preferences but also providing greater choice for customers to have the experience they want.  It's a new era of mass customization and opt-in experiences.”

Lastly, Howe describes the rapid rate of innovation. "The pace of change is dizzying and almost impossible to keep up with every new iteration of technology or piece of equipment that can help you with your business." Howe had four recommendations for intuitions looking to implement a change strategy:

  1. Dont incorporate new technologies without a clear strategy and purpose
  2. A true store of the future initiative is solving for a constantly changing target
  3. You must have a process and innovation team tasked with ushering in change to survive for tomorrow
  4. Design is a powerful tool that, if harnessed properly, can allow you to evaluate, control and implement change


Learn more about tailoring a customer journey in financial services, contact Adrenaline at info@adrenalineagency.com.

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