Money on the move: Opportunities for financial service providers in the ‘third space’

Delivering financial services to customers on the move is an emerging imperative for the industry, as at present the services available do not meet the needs of customers. Such services could empower customers to control their own finances, at the same time as reducing costs for companies. Those in...

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Bibliographic Details
Published inJournal of financial services marketing Vol. 9; no. 1; pp. 57 - 67
Main Authors Hourahine, Ben, Howard, Melanie
Format Journal Article
LanguageEnglish
Published London Palgrave Macmillan 01.09.2004
Subjects
Adults
Cellular telephones
Communication
Consumers
Cost control
Cost reduction
Customer relationship management
Customer services
Empowerment
Financial services
Internet
Mobility
Opportunity
Time use
Trends
Wireless communications
United Kingdom > UK
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Summary:Delivering financial services to customers on the move is an emerging imperative for the industry, as at present the services available do not meet the needs of customers. Such services could empower customers to control their own finances, at the same time as reducing costs for companies. Those in most need of such services require top line account updates at present, but also welcome the possibility of more advanced account management services. These services have the capacity greatly to improve relationships with customers; "guardian-services" which monitor financial performance and respond accordingly will foster "good will" and increase loyalty. While complex services requiring expert advice should remain branch based, new data-enabled mobile phones will establish new opportunities for service provision in the future. [PUBLICATION ABSTRACT]
ISSN:1363-0539
1479-1846
DOI:10.1057/palgrave.fsm.4770141