The Future of Customer Experience: A Study of Value Creation for the Digital Segment, Within the Financial Sector

Katrine Mørkenborg Jensen & Jennipher Elex

Student thesis: Master thesis


This master thesis is the result of a conducted research on young adults between 18-25 years and their relationship with their financial service provider. More specifically, this thesis investigates what creates value for the digital segment within the financial sector. The digital segment is new to the financial sector and is an interesting target segment for the banks, as it consists of the future bank customers. This research adopts a customer-centric view. Methodologically, the technique of triangulation is applied as the empirical findings are collected through qualitative semi-structured interviews with 15 informants, which is followed up by the same 15 informants answering a quantitative survey. Findings show that the digital segment values human contact and personalised services. The digital segment is seen as the digital narratives and is therefore often anticipated not to value personal connections. On the contrary, this research points to a more nuanced understanding of the relationship young adults have to online and offline channels. One of the most unanticipated discoveries is that the digital segment feels as an overlooked customer segment. Even though most banks will argue that they are focusing on the young adults, this research indicates that the way the banks communicate and acts towards the young adults, does not have the wanted affect on them. Meaning, the customers does not feel included or serviced correctly by their bank. Findings show that availability and convenience to check the bank account online are essential to the young adults, as they are afraid to act incorrect. Furthermore, findings show that loyalty flourish from trust and financial knowledge, and the digital segment needs interaction and relationship to the bank before loyalty emerge. With most informants expressing the need for more personal contact, and for the bank to be more proactive, this master dissertation suggest business managers to focus on meeting the customers needs, on creating more value for the digital segment. This is done by implementing the concept of a service check. Contributions and further suggestions to theory and business, as well as future research are included at the end of this thesis.

EducationsMSocSc in Service Management, (Graduate Programme) Final Thesis
Publication date2019
Number of pages124