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Conferences

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Financial Services Research

Financial Services Research

19th November 2015

In a nutshell

Date

This event has taken place.

This year’s MRS financial services conference will focus on how financial services providers are gathering customer insight and using it to radically shake up their organisations so they work better for consumers and deliver greater profitability.


Hear eight client case studies including Aviva, FCA, Lloyds, Capital One, SunLife Direct, UKAR, Clydesdale Yorkshire Bank


Key themes include:

• Harnessing consumer insight to deliver a more customer centric business

• Segmenting customers, identifying behavioural characteristics and determining how best to engage different groups

• Mapping customer journeys to optimise channel strategies and create outstanding customer experiences

• Measuring the effectiveness of customer communications and determine how to deliver complex messages in a digestible format

• Building consumer trust and confidence in your brand to drive customer acquisition and revenue growth

• Examining customer demand for micro payments and peer to peer payments and assessing the impact on the traditional banking system




CPD 6

Where is the event taking place?

Hilton London Bankside

2-8 Great Suffolk Street
London
SE1 0UG

    With thanks to:

    Survey sponsor

     

    09.00 Registration & Coffee

    09.30 Opening comments from the Chair
    Richard Young, journalist and editor

    09.40 Keynote Address: Brands need insight not research...
    Jan Gooding, Group Brand Director, Aviva

    10.10 Collections & Arrears: putting the customer experience at the heart of our strategy
    At the beginning of 2015 Capital One, in partnership with Ipsos UU, conducted an in depth study of customers who were in arrears, speaking to those with various levels of outstanding payments and who had had varying levels of contact with Capital One during the process. Using a mix of ethnography and depth interviews, they uncovered insights which are changing the way Capital One thinks about customers who fall behind or into difficulties.
    • Examining how the research uncovered insights about some of their vulnerable customers and ensured that teams have a holistic view of this customer base
    • Understand how ethnography enabled Capital One to deliver consumer insight across an organisation in a powerful and meaningful way
    • Explore how Capital One is creating a consumer-centric business model
    Catherine Borrie, Research Manager, Capital One
    Hugh Good, Director, Ipsos UU
    Lucy Neiland, Senior Ethnographer, Ipsos UU

    10.40 The Cost Of Happiness: Will More Spare Cash Make You Happier?
    "˜We need just over £700 a month spare cash to be among the top 10% happiest in the UK!" This is the headline finding from the latest '˜Cash Happy' research undertaken by Charterhouse Research on behalf of SunLife Direct.
    • Evaluating the key findings from SunLife's 'Cash Happy' research
    • Examining the correlation between money and wellbeing
    • Exploring the complexities of running a large online survey research programme
    • Examining how SunLife have used research findings to drive its brand building programme
    Kathy Ellison, Director, Charterhouse Research
    Rachel Mason, PR Manager, SunLife

    11.10 Morning refreshments

    11.30 Helping UKAR To Lose Customers More Effectively: A Unique Customer Journey Tracking Programme
    • Examining UKAR's unique perspective which requires them to look at treating customers fairly (TCF) from a unique angle
    • Identifying changing needs which have led to UKAR transitioning from a longstanding TCF tracking survey to a more targeted customer journey focused programme
    • Examining how the customer journey tracking piece has been developed and the challenges of managing the growing programme
    • Sharing and evaluating the impact of the work and how it has:
      • informed the redevelopment of the complaint processo shifted focus from encouraging Direct Debit payment to offering flexible alternatives to those wanting to pay by telephone
      • improved understanding of the impact of channel choice on customer experience
    Jonathan Pickup, Research Director, Optimisa Research
    Tim Newman, Head of External Communications, UKAR

    12.00 Paym - Transforming The Way Financial Payments Are Made
    A 24/7 society has been created which expects communications, and transactions to be instant, convenient and secure. In response to these trends the Payments Council, developed a mobile payments service which sought to meet these needs. This presentation will examine how The Payments Council research project played a key role in the development of a revolutionary new payment method:
    • Examining key payment trends that led to the development of a new mobile payment service
    • Developing a research programme that aimed to match customers' needs with service features
    • Examining how the research programme contributed to the development of a robust and effective communications campaign
    • Examining how the research was instrumental in the successful product launch in April 2014 resulting in 750000 subscribers in the first month and 2.5 million by the end of the first year
    Neil Samson, Director, Opinion Leader

    12.30 Building a successful and sustainable brand
    Once, being a banker was well respected. The local bank manager was a pillar of the local community. But just like the demise of bowler hats, perceptions of trust and confidence in the sector have long been eroded. However, despite perceptions of the industry being poor, a number of brands have managed to capitalise. This session will examine sector based findings from a collaborative project between Harris Interactive and Aston Business School. The team have explored and developed a new, modern brand health model which reflects todays' interactions with consumers and examines how brands need to measure more than traditional brand equity measures to ensure they remain relevant and develop a sustainable brand.

    Dr Keith Glanfield, Lecturer and Senior FME Fellow, Marketing Group, Aston Business School
    Susan Vidler, Head of Research, Harris Interactive

    13.00 Lunch

    14.00 PANEL: Responding To The Changing Needs Of Banking Customers: Digital, Mobile, Social, Instant
    • Examining the new ways consumers wish to interact with their banks- assessing the level of desire from consumers to embrace digital banking methods
    • Predicting expected demand for digital payments
    • Examining the key opportunities and threats for traditional high street banks
    • Outlining opportunities for non-traditional players to enter the banking landscape with consumer centric solutions
    • Examining new research approaches to support banks' engagement in a multi-channel environment
    Richard Young, journalist and editor
    Neil Samson, Director, Opinion Leader
    Julia Beaver, Head of Financial Services, UK Industry Team GfK
    Mark Yeomans, Director, Incite

    14.45 Understanding And Managing Financial Service Consumer Vulnerability
    Many consumers in vulnerable circumstances are not receiving fair treatment from their financial service providers. Communication and product access issues cause particular issues for people who due to their personal circumstances, are particularly susceptible to detriment, especially when a firm is not acting with appropriate levels of care.
    This session looks at how the Consumer Insight Research team at the FCA, in partnership with ESRO, built and reported on a major programme of qualitative research to address these issues.
    • Uncovering the nature and scale of financial service consumer vulnerability
    • Understanding the policy, systems, products and implementation issues relating to vulnerable consumers
    • Examining how the FCA have sought to influence and address the issues identified in the research
    • Examining how the FCA will build on this ground-breaking programme.
    Simon Sarkar, Research Manager, FCA
    Martin Coppack, Head of Partnerships, FCA
    Becky Rowe, Managing Director, ESRO

    15.15 Challenging The Status Quo By Really Understanding What Matters Most To Business Banking Customers
    This session will examine how research has challenged Clydesdale Yorkshire Bank to think differently about the way the bank should interact with its valuable Business Banking customers.
    • Discussing how business customers view their journey as a business banking relationship
    • Examining transactional and non-transactional aspects of the business banking relationship
    • Analysing customers' journeys to identify the common requirements customers want from their banking experience
    • Determining key approaches for enhancing customer advocacy
    • Integrating research finding with learnings from Relationship Managers on the 'frontline' for a holistic approach to driving improvements
    Kevin Crouch, Research Director, Gusto Research
    Marta Kovacs, Head of Research, Clydesdale Yorkshire Bank

    15.45 Afternoon refreshments

    16.15 Using Behavioural Science to Change Customer Behaviour from Home Insurance Renewal 
    Communications
    Lloyds Banking Group and Decision Technology recently conducted an innovative project to pilot the application of behavioural science insights and methodologies to improve the bank's customer communications.
    • Using a behavioural science approach to generate and trial improvements to home insurance renewal letters
    • Determining whether communication improvements can disrupt customers' habitual behaviour, improve understanding, and ultimately lead to better decision making
    • Evaluating the main benefits of adopting a behavioural research approach to measuring and improving the effectiveness of customer communications
    • Examining the key components of the research:
      • workshops to translate behavioural science insights into specific recommendations
      • eye-tracking to understand how customers engage with the current renewal letter
      • an online randomised controlled trial to test a large number of potential improvements
      • short-listed ideas taken forward for field trials and evaluation
    • Examining the challenges faced and lessons learned
    Rich Lewis, Director, Decision Technology
    William Nicholas, Market Research Manager, Lloyds Banking Group

    16.45 Closing comments from the Chair

    17.00 End of conference

    This is the other tab

    Please click on the photographs to view each speaker's biography.

    Booking

    The rates for Financial Services Research are:

    Early bird rate — BOOK BEFORE 4th September 2015
    MRS Member £335 + VAT
    Non-Member £465 + VAT

    Please note: Early Bird fees must be paid in full by 04.09.2015

    Standard rate — AFTER 4th September 2015
    MRS Member £435 + VAT
    Non-Member £565 + VAT

    MRS Company Partner* £300 + VAT or 1 Company Partner ticket
    If you would like to use your Company Partner tickets, please email conference@mrs.org.uk or call +(0)20 7566 1853

    Book onlinerequest an invoice or pay by credit card
    Click here to book/pay online through our secure payment process.
    You can only book if you are attending this course. If you wish to book for someone else please use the form above.

    *By proceeding with a booking you are agreeing with our terms and conditions.

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    CPD 6
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