Silva announced his farewell on Monday in an emotional video message on Chelsea's website
football1 hour ago
Affluent middle-class customers in the UAE are more likely to interact with their banks using digital channels than before, according to a research released by Collinson Group.
Financial service brands looking to boost engagement must ensure their loyalty initiatives are aligned with customers' digital expectations.
It's easy for customers to do a lot of transactions through smartphones or computers instead of visiting a branch or ATM machine. Customer can pay their monthly utility bills online, transfer funds online, and other options include request for cheque book, payment of Salik, Nol card, fines, airline ticket payments and telecommunication, among others.
The research found that 83 per cent of affluent middle-class customers use banking and finance apps - up from 36 per cent in 2014. It also revealed that 42 per cent of customers prefer to do their banking online or via mobile app, while 32 per cent prefer telephone banking and 26 per cent prefer to go to a branch.
Collinson Group polled 6,125 of the top 10 to 15 per cent of earners from Australia, Brazil, China, France, Hong Kong, India, Singapore, the United Kingdom, the United States of America and the UAE.
Other key insights from the research which defines how UAE affluent middle-class consumers interact with financial services organisations include: 66 per cent of customers surveyed make digital payments whenever they can compared to 63 per cent globally, 64 per cent customers believe mobile banking is incredibly important compared to 57 per cent worldwide, 63 per cent said they would consider a branchless digital bank if they were to switch banks in the future which is far above the 46 per cent globally.
Collinson Group recommends that brand managers act now to ensure loyalty programmes meet customers' demands for a seamless digital experience.
This becomes even more important as the spending power of millennials and Generation Z is set to soar in the next five years. Millennials are pushing companies to innovate faster and are defining new customer expectations. Born in the age of instant communication, smart technology and a hyper-connected world, these young consumers are influencing digital transformation.
"Digital will be the biggest battleground in financial services as digitally native millennials and Generation Z become more lucrative target audiences for the sector. We can expect to see digital engagement continue to soar over the next three to five years. Brands need to act now in order to improve their digital offering, or risk missing the opportunity to build loyal relationships with lucrative audience segments," said Christopher Evans, director at Collinson Group.
- abdulbasit@khaleejtimes.com
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