Emerging financial services are shifting from being product-centric to customer-centric, with a focus on delivering value across the customer’s financial journey. This shift is driven by the rise of platform-based models, which enable service providers to offer a broad range of financial products and services. These platforms are designed to be modular, allowing customers to pick and choose the services they need, and to integrate seamlessly with other financial services. The shift towards customer-centricity is also being driven by the rise of data and analytics, which enable service providers to gain a deeper understanding of their customers’ needs and preferences. This is enabling the creation of personalised financial products and services, tailored to meet the unique needs of each customer. As a result, the financial services industry is evolving from a one-size-fits-all model to a more personalised and customer-centric model. This shift is likely to have significant implications for traditional financial institutions, which will need to adapt to the changing landscape or risk being left behind.
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