Möchten Sie zur deutschen Seite wechseln?JaNeina
Close
Smart Automotive Insights image

Smart Insights: Financial Services

The competitive landscape has broadened significantly for the financial services industry. Trust (or lack of it) is a major issue. Consumers have fast access to online user reviews, financial product comparisons and easy switching of services, making them savvier and more demanding than ever before.

Successful finance industry players deliver differentiated products and services to suit varying customer needs and increase trust by emphasizing transparency and client data security.

Our financial service research experts analyze market trends to deliver consumer insight and help you develop winning finance product and service strategies for your customers.

GfK, Norway
GfK, Norway
Financialtalk newsletter

Get the latest GfK Financial news

Discover the latest industry insights with our Financial Services Talk newsletter. 

Solutions
  • Brand and Customer Experience (BaCE)

    Brand and Customer Experience (BaCE)

    Brands are under pressure to develop emotional connections and relationships with consumers and business decision makers.  Brands need to respond in-the-moment, to enrich the customer experience – and develop strategies that influence ”moments of truth” throughout individual brand journeys.  

  • Consumer Panels

    Consumer Panels

    Your business is all about your consumers. So understanding them is essential in ensuring your products and services meet their needs, and in identifying opportunities for growth.

    Our international consumer panel data and research expertise provide you with smart customer insights into who your consumers are, their attitudes and behaviors, across channels.

  • Digital Market Intelligence (DMI)

    Digital Market Intelligence (DMI)

    When consumers shop, search, communicate, gather information and engage with companies or brands online, they behave differently depending on which device or screen they are using. They expect a consistent experience regardless of the channel or device they are using.

  • Market Opportunities and Innovation (MOI)

    Market Opportunities and Innovation (MOI)

    Brands are under constant pressure to maintain relevance in an increasingly crowded market. Identifying when, where and how to deliver compelling experiences that deliver new value for both consumers and brands is critical.

  • Shopper

    Shopper

    Digital continues to open up new paths to purchase, changing how and where people shop. More and more data becomes available every day, as shoppers embrace multi-channel brand experiences. To stay competitive in this big data, multi-channel environment, businesses need to identify and leverage the most relevant data along the entire path to purchase. 

  • User Experience (UX)

    User Experience (UX)

    Our user experience (UX) research and design experts help our clients create and improve customer experiences for existing or new products and services

    Today’s consumer is bombarded with promises for compelling experiences. They are sophisticated and demanding.  To be successful, a new product or service needs to be intuitive, usable, engaging and desirable. The user experience needs to be emotional in order to be memorable.

  • Geomarketing

    Geomarketing

    Our geomarketing solutions and consultancy provide our clients with smart insights into location-specific factors that impact the success of business sites, shops, sales territories, target groups, as well as chain store and distribution networks.

Latest insights

Here you can find the latest insights for financial services industry. View all insights

    • 05/18/16
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • Norway
    • English

    The future of retail and what it means for the industry

    “Build it and they will come” has long been the modus operandi for the retail sector. But two decades of unprecedented change both in terms of technology and the economic environment has shaken the retail sector. This is the age of the Connected Consumer who expects retailers to fulfill their needs before they even ask. Omni-channel is the word that now defines retail as we have moved to a model where retailers need to be constantly present, ready to engage with shoppers in the moment and on the move – as well as on the high street. This is what retailers must do to survive in the Future of Retail.

    Four key battlegrounds: Choice, price, convenience and experience

    The retail environment may have changed dramatically but the four key battlegrounds – choice, price, convenience and experience – are every bit in evidence. On each front, retailers must work harder to survive, let alone win. This is a world where prices are standardized, consumers are dazzled and confused by endless choice, and shoppers judge stores by the way they make them feel not just the goods they sell. All retailers, from pure play online stores to the stalwarts of our high streets and malls and everything in between, now face a myriad of challenges. At its heart is the shopper of the future – today’s constantly Connected Consumers who want it all and expect retailers to come up with the goods.

    The shopper of the future expects retailers to keep up with them

    Understanding what makes these shoppers tick is more than half the challenge. Price savvy, technologically forward and with a mission to fulfill, the shopper of the future expects retailers to keep up with them, not the other way around. The challenge for retailers is to stay one step ahead of consumers’ demands. That means delivering on all fronts, be it product choice, service, customer experience or price. The retailers that dominate and define this new age of retail will be the ones for whom change and uncertainty represents a fresh opportunity to thrive. Understanding the constantly changing consumer and market landscapes will be key, as will be a willingness to embrace innovations and invest to benefit retailers and customers now and in the years to come. That future of retail is here and now. Are you ready for the Future of Retail? Find out more about how to navigate the Future of Retail in our report. Please share your thoughts in the comments below or email me at James.Llewellyn@gfk.com.
    • 03/31/16
    • Press
    • Financial Services
    • Consumer Goods
    • Norway
    • English

    Consumer Confidence stalls at zero

    Do Brexit jitters explain 18-point fall since March 2015 in sentiment over future prospects for general economy? GfK’s long-running Consumer Confidence Index remained at zero in March. 
    • 12/12/17
    • Press
    • Financial Services
    • Retail
    • Consumer Goods
    • Geomarketing
    • Geodata
    • Global
    • English

    Purchasing power Germany 2018

    Germans’ 2018 purchasing power will rise to €22,992 per person according to the GfK study released today. This amounts to a nominal per-person increase of 2.8 percent, or €633.
    • 12/11/17
    • Financial Services
    • Technology
    • Global
    • English

    What’s really holding back in-store mobile payments?

    “Cashless made effortless!” “Turn your phone into your wallet!” “It’s not exactly magic, but it feels that way!” The clear message that mobile wallet purveyors are sending to the market is that mobile payments are easy. So why is adoption so low? According to our 2017 FutureBuy® report, only 25% of US shoppers have made an in-store mobile payment in the last six months.

    Reasons for low adoption

    One obvious stumbling block is availability. A recent JP Morgan Chase study suggests that only 36% of retailers currently accept mobile payments. But availability alone cannot account for this disappointing level of adoption. Smartphones are omnipresent in consumers’ lives — and, as our 2017 FutureBuy study shows, US consumers equate smartphones with shopping; 39% say, “My mobile device is quickly becoming my most important shopping tool,” up 11% since 2016. In fact, CNET reported that smartphones accounted for 21% of online sales on Cyber Monday, with US shoppers spending $1.59 billion using their phones — a new record. So where is the comparable mobile in-store spend? Our recent research points to one important barrier for consumers: security. With data breaches at Equifax, Yahoo, and even the IRS making headlines, it is no surprise that security is on the minds of consumers. Research from GfK Consumer Life quantifies this anxiety:
    • 36% of Americans are always concerned about their safety and security (2017)
    • 48% of Americans feel it’s very important to actively manage their online identity and personal information (2016)
    • “Personal information getting into the wrong hands” is the #9 concern among Americans from a list of 21 concerns — up 4 places since 2016 (2017)
    Looking more specifically at payments, cash still plays a big role – and one of its key benefits is anonymity. Among Americans with household incomes of $75,000 a year and greater, 55% say they always or sometimes use cash to protect their identities. Those in the payments industry know that using a mobile wallet is probably the safest way to pay; but US consumers do not perceive things that way. When we asked which non-cash method of payment was most secure, mobile wallets came in last, with just 4% of consumers (compared to 21% saying swiping their card, and 70% saying EMV).

    Opening the door to mobile payment usage

    Comfort with financial services and knowledge of the products and services seems to play a big role in opening the door to mobile payment usage. Again, looking at our FutureBuy study, we see significant differences in attitudes towards mobile payments when we compare Leading Edge Consumers (LECs) to the general public. The LEC group consists of three different types of shoppers; Early adopters, Influentials and Passionate shoppers. 15% of respondents in the 2017 FutureBuy study were identified as LECs – and they are much more apt to see mobile payments as secure: “Making payments with mobile device is more secure than other methods” — 57% LECs vs 23% general public. “I am confident that my mobile device payments are 100% secure” — 58% LECs vs. 23% general public. Not coincidentally, LECs use of mobile payments in-store over the last 6 months dwarfs that of the general public, 50% to 25%. Perhaps, the messaging at the top of this post needs to be revamped. Easy is not doing it. While security is often buried in promotional content to some degree, elevating this message to the first position could be a key to quicker adoption. The message of “the safest way to pay” may be the path forward for mobile payments. For more information, please contact Keith Bossey at keith.bossey@gfk.com. hbspt.cta.load(2405078, 'ca8381bb-3fe8-4564-832b-cd785b143e32', {});
Contact us
Peter Nilsson
Sweden
+46 104 553 625
GfK, Norway
GfK, Norway
General