Virtual Roundtable:

Digital trust in financial services
Tuesday 7th December 2021, 09:30 (GMT)

How can financial services organisations establish trust in a digital world?

Trust in financial services is at an all time low. The financial crisis was followed by rising levels of online scams and cyber crime. Banking customers have for several years experienced ultra-low interest rates on their savings, while people saving for a pension have seen income projections slashed. Insurance policy costs have risen driven up by tax and increased fraud levels. Alongside this, consumers have become increasingly cynical about the protection provided by regulation. 

The loss of customer trust has been combined with another major problem for traditional financial services companies – the rise of fintech and the entry into the market of new, unconventional competitors, driven by customer experience, comfortable with sophisticated digital technology, and sometimes outside the constraints imposed by existing regulations.

Strengthening consumer trust is one of the few cards that traditional financial service companies have to play. But trust is hard to measure, hard to build – and very easy to lose.

This free virtual seminar will explore the changing nature of trust in financial services. We will consider the nature of trust and the ways it can be measured, built and destroyed. In particular, we will explore the ways that digital technology can contribute to increasing consumer trust.

We will address the problems that expensive legacy IT systems can create for maintaining consumer trust and how organisations must adapt legacy systems or replace them with new systems if they wish to strengthen trust levels.

And we will discuss how new government initiatives such as open banking and new regulations such as PSD2 impact consumer trust and how financial services organisations need to respond to these changes.

Join the discussion of how consumer trust can be re-established in the financial services industry.

The questions we will explore

During the meeting, we will focus on questions such as:

  • What is the importance of trust in financial services and how can it be measured? What has damaged trust in recent years and how can that trust be rebuilt? 
  • How can financial services firms take advantage of new initiatives such as open banking? What challenges and opportunities around trust does open banking represent for established firms? 
  • What will the effect of new legislation such as PSD2 be on trust in the sector? Are companies sufficiently prepared for the changes they have to make to be compliant and how will they manage these changes in a way that builds trust rather than destroying it?
  • How can financial service organisations manage major IT transformation whilst balancing the issues created by legacy systems and existing and familiar ways of working?
  • How can digital technology be used to build consumer trust?

Who is invited?

This breakfast meeting is designed for senior decision-makers in the financial services industry who wish to discuss how to establish greater trust among consumers Delegates will be employed in roles such as Head of security or cyber security, Chief Digital Officer, Chief Technology officer of Head of IT, Head of Compliance, and Head of Production in the financial services industry.

Be one of 6 senior financial services professionals and decision-makers around our virtual table. For any enquiries, please contact Mergim on 0208 349 6458 or email m.begolli@business-reporter.co.uk

The breakfast briefing is brought to you by the leading identity and access management company Okta and is only for senior executives as mentioned above. Registrations of junior professionals, consultants, solution providers or other sellers to this market won’t be accepted. To be eligible you must be employed by a corporate legal entity such as a private company: if you are a sole trader or in a partnership other than a legally incorporated partnership, we will be unable to offer you a place.

This breakfast briefing is free of charge to attend. 

When you register, we will ask you for your corporate email address which we will share only with the event sponsor(s). See our privacy policy.

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