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In partnership with Syniverse, Hot Topics has defined the 50 most innovative CMOs in financial services for the 2nd successive year.
Last year’s list of financial services CMOs was centered on Europe and North America, however, this year sees a more global mix.
As financial services businesses seek to shed the reputation of being slow-moving, risk-averse entities, part of the challenge for senior marketers is finding ways of engaging consumers that correlates to their expectation based on experiences with the brands they use in other sectors.
As Chris Clark, HSBC’s CMO, told Hot Topics in a recent video interview, ”banks are no longer just competing with banks in terms of digital experiences and customer journies. Rather, they are competing with the likes of Uber and other digital natives that have raised the bar in terms of customer expectations.”
It falls under the jurisdiction of these financial services CMOs to lead the creation of these experiences and engage customers via an ever-increasing number of channels.
As Jennifer Dominiquini, CMO of BBVA Compass, explains, ”we have realized that our clients and potential clients are engaging with banks in different ways, in ways they have never gone through before, and digital gives us a unique opportunity to better serve our existing customers, as well as to promote the ease and convenience of our offering to new clients.”
The traditional notion of a consumer sticking with the same financial services provider throughout their lifetime is decreasing and part of a CMO’s role is to drive loyalty and retention through slick user experience and compelling branding.
Whether that is within retail banking, commercial banking, insurance, or asset management, all of the financial services CMOs included on this list are finding new, innovative ways of engaging customers, attracting new audiences and positioning their respective brands for the digital age.
Following the release of this list, we will be running an editorial series featuring interviews with these financial services CMOs, to understand how they are using technology within their role and engage customers in new ways.