Transforming into a Digital-first Financial Services Company with On Demand Teams

Challenge

Staying Relevant in the Changing Market Conditions

Customer experience is the biggest differentiating factor in the financial services industry today. While customers prefer digital experiences, they also expect personalization and a human touch. Considering these market shifts, a financial services MNC wanted to be recognized as a digital-first bank. Leveraging data-driven insights, it wanted to launch hyper-personalized campaigns and establish trust.

While the internal teams had a solid plan for leading this digital initiative, they had a lot going on to execute everything in-house. They needed high-performing teams that could act as extensions of their core workforce.

The financial services company looked towards marketing agencies but wasn’t satisfied with their subject matter expertise. Also, the agencies couldn’t offer the required turnaround times for the company based on its past experiences.

While hiring more people in-house was always an option, the company couldn’t afford months-long hiring cycles. The market demands were changing and the FS company had to change with them in order to stay ahead of the competition. The company needed to support evolving priorities such as cloud services, data center migration, cybersecurity, MarTech, product development, and sustainability initiatives. Hiring full-time was particularly difficult and risky because of how quickly these needs were changing.

Solution

Building On Demand Teams within Weeks

The FS company reached out to Hire Digital after learning about on-demand teams that could be ready to start in as little as a week. The consultative call helped finalize the talent they needed right away.

Leveraging the experience of working closely with different banks and markets, Hire Digital also helped identify talent gaps within the core workforce and suggested optimizations to campaign plans. The financial services company chose to move forward with three kinds of engagements with Hire Digital: Talent On Demand, Project-based Engagements, and In-house Agency.

With its network of pre-vetted digital talent from around the world, Hire Digital could offer talent matches in as little as 48 hours. The company reported the talent matches had a 97% success rate. The entire hiring process was quick and seamless because of the quality and speed Hire Digital had to offer.

The financial services MNC built a center of excellence in hiring top digital talent supplemented with designers and developers. This center of excellence could now work as the in-house agency that handled different requirements from different markets, regions, and departments. Access to this in-house agency was a game-changer for the campaigns in the pipeline.

Result

Better Collaboration, Digital-first Marketing Strategies

The on-demand talent and teams could facilitate the financial services company to improve delivery times right away. Their expertise enhanced overall productivity and efficiency for the ongoing campaigns and projects at the company.

Additionally, the in-house agency worked with the core workforce to identify high-priority markets based on data-driven insights. Leveraging storytelling and social media channels, the company set out to achieve improved branding and customer trust.

The team could use both data and creativity in creating digital-first marketing strategies to drive growth. The customer-focused campaigns engaged, informed, and motivated customers.

The in-house agency worked closely with the internal teams to ensure marketing budgets were being utilized optimally with strong targets and ROMI. Managing all internal and external partners, the team built seamless customer journeys.

Impact

Improved Acquisition and Retention

The financial services company reported faster turnaround times with the on-demand teams and the in-house agency. The technology stack and internal processes were optimized to facilitate smooth processes. With the right analytics and personalization in place, the digital-first marketing strategy was a success for the MNC.

Through innovative and disruptive marketing campaigns, the FSI company was able to drive business targets with a few achieving over 120% of initial targets in acquisition and inflow.

The company could establish thought leadership through a branded content marketing strategy. It gained industry attention and customer trust leading to better retention.