Customer needs are continuously evolving while the most readily useful businesses understand the key is always to listen and innovate relating to their consumer needs. But thereвЂ™s a roadblock ahead.
Usually the one destination where innovation lags or even even worse, is killed, is Washington.
In place of advancements, onerous regulations are mandated that all too often do more to damage customers than protect them. This monthвЂ™s National customer Protection Week presents the opportunity for lawmakers and regulators to move down from their ivory towers, stop regurgitating exactly the same speaking points, and take the time to comprehend and pay attention to the ever-changing requirements of customers.
Washington must understand the customer landscape has significantly changed in the last few years. Within the monetary solutions sector specifically, customers increasingly need more convenience and option; greater access to their phones, pills and laptops; individualized solutions and complete transparency.
Whether or not itвЂ™s the merchandise and services customers require or perhaps the manner in which they would like to access them, Washington is often last to know this. More serious, when they make an effort to protect these evolving requirements, they fail.