#InnovationSnack with Serena Torielli: our webinar to “get inside the customer’s mind”.

Partecipa al nostro webinar gratuito per capire come profilare al meglio i tuoi clienti

Banks and insurance companies are going through a deep transformation phase, initiated by technological evolution and accelerated by the ongoing health emergency, which suddenly has changed the rules of the game.1


A changing relationship

A transformation that, for financial institutions, necessarily requires a rethinking of the relationship with their costumers, who are increasingly targeted – in other sectors – to receiving customized services tailored to their needs, thanks to the massive use of ‘big data’ (just think about Facebook and Amazon). The time of ‘one size fits all’ is gone forever and will not return, not even in banking.

But when it comes to making investment choices, the situation becomes more complicated. On the one hand, the average Italian’s poor financial culture generates a certain financial institutions’ mistrust. On the other, the economic and financial individual choices are almost never rational, on the contrary: the process of buying an insurance/financial product is greatly influenced by other variables, of a behavioural nature – already investigated by behavioural finance – but also social and psychological.


Understanding people and their emotions, what do financial institutions do with them?

How can banks and insurance companies intercept the needs of individuals in a more targeted and effective way? Create customer empathy and long-term trust? By combining psychology and technology. Two formidable weapons in the consultants and sector operators’ hands, which allow them to focus on the real financial customers’ needs – existing and potential -, while overcoming a series of “filters” created by one’s mind: for example, the way they interact with the rest of the world through individual experiences and external, social and cultural conditioning. In other words, using Behavioural Profiling techniques.2

This is exactly what we will be talking about on Thursday 7 May in our free webinar entitled “#InnovationSnack. Four video chats with Serena Torielli“. A “virtual” meeting – we’ll be using the Zoom platform, which by now you will have learned to know after two months of lockdown. Serena, CEO of Virtual B, will discuss Behavioural Profiling with the help of two experts: Professor Flaminio Squazzoni of Behave Lab and our Raffaele Zenti, Head of Data Science and Virtual B co-founder.


But what is Behavioural Profiling in practice?

Technically, it is a method of customer profiling that employs sophisticated statistical and machine learning techniques to go beyond the typical objective profiling (for example, MiFID or IDD style questionnaire) and focuses on mental, emotional and socio-cultural aspects. In practice, it is a useful strategy to really get in touch with the customer, not only by identifying financial needs that sometimes he is not aware of having, but also by finding the most effective ways and words to “open his eyes” to his real needs, touching the right points to start a profitable communication.

To find out more, just join our webinar. We look forward to seeing you on 7 May at 10.30 a.m. Register now at the link below.

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1 Addio vecchio Wealth Management. Largo al Financial Wellness!
2 Behavioural Profiling: l’evoluzione della profilazione nella finanza