Accelerating customer experience in Professional & Financial Services

Taking vital steps forward in Professional & Financial Services requires organizations strike a balance between building a competitive advantage, working with new and exciting partners, and shifting with evolving customer expectations: all while continuing to innovate.

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“Before, innovation was labor-intensive and time-consuming. Wazoku is a one-stop-shop that has enabled and enhanced our entire innovation strategy.”

Thembisa Mapukata, General Manager for Innovation, Digital & Direct Channels at Old Mutual Group

Professional and Financial Services

Succeeding through collaborative innovation in the Professional and Financial Services Sector

Market shifts, new customer behaviors, and changing expectations around the availability of services has put Professional and Financial Services organizations at a crossroads. Strategies need re-evaluating, processes need updating, and maintained relevance has become more difficult to achieve.

In a situation like this, innovation is essential. However, given that context, the risk of making mistakes is higher, and the price of those mistakes is severe.

Innovation that puts collaboration at the heart of the whole process, though, has a very good chance of succeeding. Ensuring that organizations can leverage insights from a range of audiences – including customers, suppliers, employees, and even an open talent crowd – means less guesswork and greater returns.

Whether it’s creating a Customer Experience that builds necessary financial trust, transforming operations into something ready for the new Digital era, or building an organizational Culture of Innovation that is ready to tackle new challenges as and when they arise, doing nothing isn’t an option.

A lot of these problems to overcome and new opportunities to explore aren’t limited to this industry, either. That’s why Cross-Sector innovation, that benefits everyone involved, has become more appealing as a method of problem solving.

Underpinned by a proven process for innovation, and accelerated by a global network of problem solvers, Wazoku is uniquely positioned to help professional and financial services organizations collaborate and co-create, securely and sustainably.

The only way to build a financial system that has Sustainability as a key consideration and is accessible to all who need to use it is through innovation. Scouting for the latest technology, developing Products and Services that make investing or saving easier, and running operations in a more efficient way through Continuous Improvements are all issues which need to be overcome.

At Wazoku, we have a long history of supporting professional and financial services organizations in doing just that and becoming the leaders of tomorrow in the process.

Mastercard Customer Story

Meeting Customer Needs with Mastercard

It is estimated that, globally, two billion people do not have access to formal financial services. There is, however, a growing financial inclusion commitment in international development circles to enable those with low incomes to gain access to relevant, adequate financial services.

Mastercard recognized that financial service providers aren’t always successful in developing truly client-centric products and services that appropriately meet customer needs. Running a Challenge to identify the most innovative and client-centric financial services organizations, Mastercard engaged nearly 500 solvers, and got connected to more than 125 of these companies in the process.

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Old Mutual Webinar

Digital Transformations with Old Mutual and Wazoku

A huge stepping stone towards a more robust, sustainable future for financial services organizations revolves around Digital Transformation. Adapting processes that are currently delivered offline for a world that is moving increasingly online is vital for any business that wants to remain relevant.

Due to the recent pandemic, Pan-African Financial Services organization Old Mutual was forced to accelerate plans to move its annual ‘Siyakhula’ event online. Siyakhula gives the entire Old Mutual organization the chance to solve pressing business problems through collaboration. Moving this process online saw an immediate 150% increase in ideas submitted, compared to the previous event.

Before, innovation was labor-intensive and time-consuming. Wazoku is a one-stop-shop that has enabled and enhanced our entire innovation strategy.

Thembisa Mapukata, General Manager for Innovation, Digital & Direct Channels at Old Mutual Group.
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