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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Google Logo
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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 rapid-pace of innovation has fundamentally changed the finance industry, and there is no clear solution. Overcoming these challenges demands a multifaceted market research strategy where a steady stream of customer knowledge is continuously flowing 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

Narrowing profit margins

 

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

With the Fuel Cycle Research Cloud, financial institutions and professionals can access and fuse the best technologies and solutions to help navigate a market of unprecedent change. Fuel Cycle’s mission is to retire the one-off episodic research projects and replace them with in-the-moment and precise customer insights. By way of online communities, panels, and boutique research technologies catered to fit the individual needs of businesses, the Finance Industry can leverage an all-in-one research solution that can compete in the era of volatile markets. 

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

Through the Fuel Cycle Research Solution, Financial institutions can create the perfect research studies to fit the goals and needs of their organization. Detailed below are some tried and tested methodologies that work best for Fuel Cycle’s finance industry clients—each study can be launched in a matter of minutes, and clients can receive same-day results to instantly inform critical 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 a roster of clients in the finance industry who have gained a competitive advantage from using the Fuel Cycle platform for their research needs. This case study showcases a facet of their research capabilities and highlights how financial institutions use their customer intelligence to dominate the market.

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