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A Case Study on Development of Financial Brand Experience in the era of Techfin

  • Journal of Communication Design
  • Abbr : JCD
  • 2019, 69(), pp.47-58
  • DOI : 10.25111/jcd.2019.69.04
  • Publisher : CDAK Society of Communication Design
  • Research Area : Arts and Kinesiology > Design > Visual Information Design > Information Design
  • Received : July 31, 2019
  • Accepted : October 28, 2019
  • Published : October 31, 2019

Woo Sungmi 1 Ahn Byunghak 1

1홍익대학교

Accredited

ABSTRACT

This study delves into the paradigm shift in the current financial market with a highlight on the concept of customer experience, which is growing in significance in the era of Techfin, and how existing financial companies are creating brand experiences for customers for certain channels. Our insight is anchored in acquiring a contextual understanding of the significance of differentiated definition of a ‘brand’ from its previous concepts, and in building a corporate brand image based on customer experience through reviewing the past literature and research cases. Also, a case analysis was conducted on three banking brands which have been reinforcing their capabilities in both face-to-face and non-face-to-face channels amidst the current time of changes. As a result, it was identified that each brand is in the middle of a dedicated process of strengthening their level of excellence in online, mobile and branch services as well as techfin enterprises, and that KB Kookmin Bank currently is the most competent in terms of customer satisfaction. This study intends to place a strong emphasis on the fact that in the midst of a paradigm shift, a deep understanding of customers remains the most crucial factor in acquiring new customers for the entire financial industry, and it is vital to create tailored customer experiences through crafting channel-specific strategies reflecting customers’ needs and demands.

Citation status

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