Financial services organizations—banks, insurers, and wealth managers—are at a pivotal crossroads. On one side, they face an aging workforce: the average age of U.S. financial advisors is 56, and a significant portion of institutional knowledge is at risk of retirement in the coming years. On the other, they are in fierce competition for younger, digitally native talent, who are increasingly drawn to fintech disruptors and technology-first employers. This dual challenge is compounded by legacy systems, regulatory complexity, and the relentless pace of digital innovation.
The stakes are high. Without a modern, engaging employee experience (EX), financial institutions risk losing critical expertise, struggling to attract new talent, and falling behind in delivering the seamless, digital-first customer experiences (CX) that today’s clients demand.
Financial services are uniquely exposed to workforce transformation pressures:
Research shows that improvements in employee experience can increase revenue by up to 50% and operating profit by as much as 45%. Companies investing in EX see a 73% improvement in productivity and a 75% boost in customer satisfaction. In financial services, where trust and loyalty are paramount, these gains translate directly into higher customer lifetime value and sustainable growth.
But the connection between EX and CX is not just theoretical—it’s measurable. High employee turnover, outdated systems, and fragmented processes create friction for both employees and customers, resulting in lost revenue and diminished brand loyalty. Conversely, when financial institutions modernize both customer and employee experiences in tandem, they unlock new efficiencies and value.
A major bank consolidated 14 disparate employee systems into a single interface, reducing training time, decreasing turnover, and shortening customer wait times. The result: improved employee morale, faster service, and higher customer satisfaction. Unified platforms empower employees to resolve customer issues quickly and focus on high-value interactions, rather than wrestling with legacy technology.
AI and automation are transforming both the customer and employee experience. For example, by analyzing customer journey data, an insurer identified that most calls were about straightforward issues. They introduced digital FAQs and proactive notifications, reducing call volumes and enabling agents to focus on complex, value-added interactions. The result: lower costs, higher employee morale, and improved customer satisfaction.
Service design offers a holistic methodology that integrates customer and employee journeys from the outset. By mapping both frontstage (customer-facing) and backstage (employee-facing) processes, organizations can identify pain points, eliminate redundancies, and design seamless experiences that benefit everyone. This approach—sometimes called CEmX (Customer and Employee Experience)—ensures that investments in digital tools, platforms, and processes deliver value across the board.
The future of financial services belongs to those who put both the customer and the employee at the center of everything they do. By integrating EX and CX through service design and digital enablement, financial institutions can reduce operational costs, drive business growth, and create a sustainable competitive advantage.
At Publicis Sapient, our proven methodologies, data-driven insights, and deep sector expertise make us the partner of choice for institutions ready to drive measurable growth through integrated experience transformation. Ready to transform your employee and customer experience for sustainable growth? Connect with our experts to start your journey.