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Jun 19

Category: 3Search Updates, Career Advice, In the News, Marketing & Business Development, Social Media

Last year marked the anniversary of the 2008 financial crisis.

Ten years on, trust amongst banks is still an ‘elephant in the room’, so to speak. While 55% of Britons still believe financial services firms are competent in their abilities, almost just as many are dubious about their motives.

In recent years, we’ve seen a new wave of ‘challenger brands’ come to light in the financial services space, bringing a new dynamic to the sector. With a focus on new tech and great customer experience, these disruptors have reshaped the finance sector and made an impressive footprint in what was a very traditional space.

From the likes of Monzo, Nutmeg and Octopus Wealth, the rise of these brands represents a major shift in the financial services landscape.

But what has spurred on this new wave of entrants?

The reputation of the financial services industry came under intense scrutiny (to say the least) after the crash in 2008, damaging their image and encouraging consumers to look elsewhere. A new gap in the market naturally emerged and fresh, new, customer-centric brands have been born over the last ten years.

These innovative disruptors jumped on the chance to have a digital first outlook — driven by new technologies, an ever-evolving customer demographic and a shift in consumer lifestyles and behaviours.

However, it isn’t all plain sailing. These start-up brands have come face to face with one pretty big challenge — trust. Consequently, there’s a lot of debate at the moment around the topic of how new, tech-first financial services brands can win the trust of consumers for whom established typically means ‘safe’.

To continue this debate, we’re excited to be co-hosting an event with Octopus Wealth, one of the new breed of wealth management firms looking to embrace digital and drive customer trust.

The event, titled ‘The Trust Hurdle,’ will be exploring this topic further. With up to 60 senior marketers in the audience, we will be hearing from Richard Wazacz, CEO at Octopus Wealth, Jocelyn Tasker, Head of Compliance at Monzo and Lisa Caplan, Head of Financial Advice at Nutmeg.

We’re looking forward to exploring The Trust Hurdle further with some industry experts next week at what promises to be a great morning!

 

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3Search is an award-winning UK recruitment consultancy, specialising in marketing, strategy & transformation, and tech positions. Whether you’re seeking new talent or looking for your next career move, we can help. Learn more at www.3search.co.uk.