Financial Services & Insurance

Financial services firms are dealing with customer churn, as they try to lure each others' customers in an environment of low switching costs. The rapid consolidation of banks is causing consumers to constantly rethink their choices, since they view financial products as commodities. Since many products are sold through independent agents and brokers, financial firms must compete for mindshare across their distribution channel, while educating the agents on their product advantages. These firms are constantly looking for new ways to add additional value through unique information and services.

Examples of content-centric applications being deployed by FatWire's Financial Services and Insurance customers:
  • All types of financial firms are using consumer Web sites to cross-sell products and build customer loyalty.
  • Insurance companies are deploying extranets to persuade their brokers and dealers to push their products over competitive offerings and streamline transactions.
  • Banks are providing customer self-service sites to give consumers more control over their accounts and finances.
  • Brokerage firms are providing branded Web sites to lure institutional and retail investors by providing financial research information.