Digital finance: Leveraging customer research for innovation

This paper explores how digital transformation in finance is driving focus on customer-centricity. The paper analyses how data-driven innovation is often framed as the quantitative collection and analysis of digital customer information. The paper explores how qualitative data can elucidate customer contexts and pain points. The research highlights how quantitative data can overlook important insights into customers’ decision making, their use of different financial solutions, and their ability to manage new technological solutions. The paper recommends financial service providers broaden their innovation toolbox by integrating qualitative research methods and by involving customers and partners in innovation practices. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.