Financial institutions using print technologies to meet customer demands and drive loyalty

72% hiring new skills to meet changing customer expectations 

Personalisation, cost cutting and environmental considerations are driving adoption of new printing technologies among leaders of financial services businesses in Europe.

According to a new European study of 785 finance professionals, commissioned by Ricoh Europe, 83% believe meeting customer expectations for paperless interactions and more personalised forms of banking are key challenges for the industry. And 58% have already started deploying new printing technologies to meet these demands.

David Mills, CEO of Ricoh Europe, says: “The financial services industry is changing. As challenger banks and start-ups compete with established players for customers, the industry is rapidly switching to digital-first. Paperless models and new printing technologies provide essential agility for financial organisations trying to compete with new, user-friendly fintech providers.”

89% of financial organisations are confident in their ability to respond to customer demands for paperless invoicing. However, the varied requirements of customers and the need for greater personalisation means it isn’t that simple. 69% have experienced older customers resisting the move to paperless invoicing.

Accordingly, the ability to record preferences and personalise interactions is crucial to winning customer loyalty. In addition to new technology, 72% are hiring new skills to better respond to and anticipate changing customer expectations. 51% are deploying new printing technologies to reduce their carbon footprint and cater for environmental concerns.

Mills adds: “Financial customers are notoriously displeased by receiving excess or irrelevant communications. New printing technologies are helping organisations streamline the banking process, achieve cost efficiencies, and cater towards increasingly eco-conscious  consumers.”

Find out more at www.ricoh-europe.com/thoughtleadership.

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