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09-03-2019

Nudging digital adoption: Applying behavioral science to create new habits

Across nearly all industries, companies are investing enormously in digital tools, from new apps to online client servicing.  And this investment makes intuitive sense, because “digital conversion” (i.e. moving people from physical to digital experiences) holds tremendous potential to create “win-win” situations:

  • Customers benefit from increased convenience (24 hour availability, no travel time, etc.)
  • Organisations benefit from reduced transaction costs (via elimination of physical infrastructure)  


In fact, many financial institutions are “banking” on this digital transition, as the UK has lost almost 2/3rds of its bank branches in the last 30 years (with over 13,000 branches closed).

 

Read more.

Recent Headlines from the BVA Nudge Unit

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