FSIs struggle to meet rising consumer expectations on finance

Consumers demand more personalised financial wellness solutions, pushing FSIs to enhance automation.

Financial institutions are under increasing pressure to deliver personalised financial wellness solutions, yet 35% of consumers feel their providers fall short. As economic pressures mount, consumer expectations have shifted, requiring FSIs to take a more proactive role in financial management.

“High interest rates and inflation over the last few years have caused many consumers to struggle financially,” said Clement Quek, APAC Digital Strategist at Adobe. “Now, more than ever, consumers need help managing their money and meeting their goals. It’s no longer enough to provide customers with the right tools to plan their financial future—FSIs need to do the heavy lifting.”

According to a recent Adobe survey of 1,000 consumers across APAC, financial wellness expectations fall into three categories: Know Me, Show Me, and Help Me. Consumers expect their financial providers to anticipate their needs, deliver relevant content, and simplify actions with minimal friction.

To meet these evolving demands, FSIs must focus on three capability-building areas: creating a 360-degree customer view, scaling experience creation with AI and automation, and deepening personalisation on mobile apps.

However, Quek cautioned that AI alone is not a silver bullet.

“GenAI has the potential to make customer experience delivery more creative, more productive, and faster,” he said. “But without a clear and structured workflow, AI will just add to the chaos.”

Marketing in financial services is particularly challenging because many consumers find money management overwhelming. “Generic content won’t cut it,” Quek noted. “FSIs need to identify what matters to consumers and tailor content to their financial goals.”

To fully leverage GenAI, FSIs must integrate AI with automated workflows. “Creating content is a long and complex process involving marketing, creative, brand, legal, and compliance teams,” he said. “AI needs to be paired with structured workflows to scale experience creation effectively.”