‰ PwC Global FinTech Report 1.3 Customer centricity is Where Figure €: Šusiness challenges fuelling disruption traditional Financial In which areas do you see the most important impact to your business from FinTech? As clients are becoming accustomed to the digital experience Institutions have offered by companies such as Google, Amazon, Facebook and Apple, they expect the same level of customer experience from failed, FinTechs their financial services providers. FinTech is riding the waves of are succeeding Meet changing disruption with solutions that can better address customer needs 75% customer needs by offering enhanced accessibility, convenience and tailored with new offerings products. In this context, the pursuit of customer centricity has become a main priority and it will help to meet the needs of digital native clientele. 51% Leverage existing Over the next decade, the average FS consumer profile will data and analytics change dramatically as the Baby Boomer generation ages and Generations X and Y assume more significant roles in the global economy. The latter group, also known as “Millennials” (those born between 1980 and 2000), is bringing radical shifts to client Enhance interactions demographics, behaviours and expectations. Its preference for 42% and build trusted a state-of-the-art customer experience, speed and convenience relationships will further accelerate the adoption of FinTech solutions. Millennials seem to be bringing a higher degree of customer centricity to the entire financial system, a shift that is being Enhance business crystallised in the DNA of FinTech companies. While 53% of 42% with sophisticated financial institutions believe that they are fully customer-centric, operational capabilities this share exceeds 80% for FinTech respondents. In this respect, 75% of our respondents confirmed that the most important impact FinTech will have on their businesses is an increased Source: ‚ƒ …oa FinTech Sur€ey 21† focus on the customer (see Figure 5).