Innovative Research for the Finance Industry

The Fintech and Customer-led Revolution

The total number of channels that costumers can be acquired through has proliferated and very few financial institutions have leveraged this as an advantage. Meanwhile, FinTech solutions have swept up a sizeable share of the market, with the industry analysts reporting that 20% of financial service businesses are at risk.

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The technological revolution is increasingly making waves in the Finance Industry. Financial institutions are now competing with FinTech startups that are taking a sizeable share of the market. At the same time, customers now expect a seamless digital experience through every stage of the customer journey. From usability testing to live-chats, financial institutions need a holistic way to conduct and scale their research while maintaining a consistent stream of customer feedback to turn into an actionable decision-making process.

The Problem

The varied and nuanced challenges the Finance Industry faces requires a market research strategy that uninterruptedly gathers customer knowledge. This evolving financial landscape demands that businesses obtain the most agile research tools, which supply a continuous flow of actionable data to inform products, digital channels, and customer acquisition and retention. 

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Banking & Security

  • Disruptive models brought on by new technologies
  • Peer-to-peer sharing increasingly cutting out the middle man
  • Maintaining high customer-data security white adopting new technologies
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Investment Management

  • Profile margins are becoming more and more narrow
  • Stagnancy in asset management growth
  • Millennials increased buying importance means restructuring product profiles. 
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Technology

  • Increased use of block chain will disrupt all reas of business 
  • Smaller FinTech solutions are capturing an appealing consumer niche in the market
  • New and proliferated channels of customer acquisition

The Fuel Cycle Solution

The Fuel Cycle Research Cloud empowers financial institutions and professionals to access and consolidate the best research solutions on a single platform. Fuel Cycle’s goal is to enable businesses to retire one-off research projects and instead create a continuous flow of in-the-moment and precise customer insights. Through online communities, panels, and custom research technologies that are tailored to fit the individual needs of businesses, the Finance Industry can compete and lead in a time of unprecedented change in the market.      

Leverage our network of FCX partners to enable usability testing, prototyping and biometrics capabilities to optimize your digital presence.

Define more targeted segments by leveraging a multitude of data sources, such as your CRM, and engage customers in studies specific to their demographic. 

Enable discussions that offer an opportunity for members to freely provide their thoughts and opinions that effect the financial consumer landscape.

Conduct research with non-customer sample that is informed by the insights you capture from existing customers in your community.

By creating separate communities comprised of employees, customers, and brokers to holistically inform all areas of business.

Methodologies

The Fuel Cycle Research Solution provides businesses with instant and direct access to their most engaged customers. Detailed below are Fuel Cycle’s tried and tested methodologies that work best for our Finance Clients. These studies can be launched in a matter of minutes, and clients can receive same day results to inform vital business decisions. 

Brand loyalty is the biggest determining factor of a company’s long-term success. Brands need a reliable way to measure and understand changes in brand affinity over time.

  • Rewards offering
  • Product reviews
  • Loyalty customer connections
  • Social promotions
  • Customer support
  • Insider access to brand information

Brands need to reliably measure the potential viability of products and concepts, as well as test their market potential before investing in development efforts.

  • Monadic testing
  • Reaction testing
  • Adoption testing
  • Migration testing
  • Segmentation analysis

Brands need a reliable way to measure price sensitivity in the market before making important business decisions.

  • Discrete choice
  • Van Westendorp Sensitivity Meter
  • Max diff
  • Monadic testing
  • Paired testing

Brands need a reliable way to measure and understand changes in brand perception over time, as well as how they compare to competitors.

  • Brand funnel
  • Brand personality testing
  • Competitive benchmarking
  • Real-time feedback from engaged customers

Brands need access to the most sophisticated tools to gauge and enhance the user experience. 

  • Card sorts
  • User tasks
  • User funnel
  • Heatmaps
  • Tree testing
  • Competitive benchmarks

Brands need a high degree confidence that the marketing content they are creating will resonate with their customers.

  • Highlighting
  • Hot spotting
  • Dial testing
  • Monadic testing
  • Purchase evaluation
  • Ad testing

CASE STUDY

Fuel Cycle in Action

Fuel Cycle has many Finance Clients who have garnered industry success through the Fuel Cycle platform. This case study is just one example of many research studies that our Finance Clients have launched using the Fuel Cycle platform for their business needs. 

the business problem

A finance client wants to re-imagine their future annual reports as an online experience to take advantage of the web’s customer accessibility. They also want to considerably expand on traditional annual report content, employ more client-centric information, and convince consumers that they can trust their brand with their financial planning and security.

A survey with community members was launched. 475 consumers were polled to share their thoughts on the Annual Report that they had recently received.

Afterwards, 9 consumers were chosen—who expressed interest in participating in a live chat. They shared deeper feedback on their Annual Report and provided nuanced detail into much need improvements to the user experience.

The client found the feedback from the consumers to be extremely impactful. More specifically, they used the feedback to directly inform much of the changes that were implemented in the following year’s Annual Report and successfully raised their customer satisfaction score.  

Fuel Cycle Exchange

Here are a few of our partners who provide richer insights catered specifically to your business needs:

User Zoom

Employ the leading UX insights software to fine-tune the user experience precisely to the customers’ desire.

Meta4insight

Receive insight into customers’ unconscious behaviors by using a solution designed to capture system 1 thoughts.

voxpopme

Use the power of automated video analysis to gather nuanced and rich detail on your product and brand.

Remesh

Gather rich customer feedback by using technology that analyzes and segments qualitative data on a large scale.

One Platform. Better Insights. More Impact.

Fuel Cycle empowers the entire organization with a deep, on-demand market understanding to solve the hardest research problems businesses face. Don’t settle for disconnected products, trackers, and tools — take control of continuous research, fully integrated, in one solution.

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Your customers are providing feedback 24/7. The world’s most successful brands use Fuel Cycle’s market research platform to capture, analyze, and act upon reliable data – with greater speed and relevance than their competitors. Fuel Cycle guides you through the research lifecycle to find the answers to questions you didn’t even think to ask.

Headquarters

11859 Wilshire Blvd, Suite 400

Los Angeles, CA 90025

 

NYC

205 E. 42nd St,, 15th Floor

New York, NY 10017

 

info@fuelcycle.com

fuel-cycle-logo-white

Your customers are providing feedback 24/7. The world’s most successful brands use Fuel Cycle’s market research platform to capture, analyze, and act upon reliable data – with greater speed and relevance than their competitors. Fuel Cycle guides you through the research lifecycle to find the answers to questions you didn’t even think to ask.

Headquarters | 11859 Wilshire Blvd, Suite 400, Los Angeles, CA 90025

NYC | 205 E. 42nd St,, 15th Floor, New York, NY 10017

info@fuelcycle.com