Consumers need more user-centric banking products | 11:FS Lightboards with David M. Brear

Digital R.I.C.H.E.S is a term that we've used for quite a few years at 11:FS. R.I.C.H.E.S is how we ensure that we stick to building banking products that directly help customers achieve their goals and meet their needs. It's about making sure your product is... 👉 Real-time: surface up-to-date information instantly for customers 👉 Intelligent: treat consumers as individuals through intelligent use of their data 👉 Contextual: use technology to help consumers at specific, contextual life points 👉 Human: make communications clear and easy to understand for anyone reading 👉 Extendable: constantly look for opportunities to extend banking services and create end-to-end journeys 👉 Social: have proactive conversations with customers to help them find new opportunities within the product they are using Our 11:FS CEO David M. Brear takes to the lightboard to give us the full run-down, with examples of companies that are leading the way. Timestamps here: 0:00 Financial products that matter to consumers 0:31 Basic components of a financial product 1:22 What consumers really need 3:59 Applying R.I.C.H.E.S to financial products 4:11 Real-time banking products 4:39 Intelligent financial services 5:39: Being contextual 6:12 Being human 7:33 Extendable 9:55 Social