Phoenix Group has launched a new Innovation Forum to increase customer engagement and support their financial wellbeing.
The Phoenix Innovation Forum will invite FinTech firms and entrepreneurs to explore partnership prospects that will promote innovative thinking and new ways of working in collaboration with TCS’ Co-Innovation Network (TCS COINTM) innovation ecosystem and FinTech Scotland.
Phoenix says it will seek out FinTech companies with a passion for enhancing financial wellbeing, with a focus on creating a meaningful beneficial impact on consumers’ lives as they approach and pass through retirement.
Phoenix says the Innovation Forum will allow FinTech companies and entrepreneurs to build, improve, and showcase innovative solutions to top executives from across the Phoenix Group.
Curiosity is one of the primary engagement themes, which involves employing unique tools and interactions to pique people’s interest in saving and financial planning, which can lead to more learning, particularly in the area of retirement planning. Another trend is gamification, which involves employing interactive ‘gamification’ tools and rewards to drive increased involvement in digital channels by providing an immersive experience and highlighting to clients the need of saving and investing for the future.
Phoenix managing director pensions and savings Colin Williams says: “This is a great opportunity for Phoenix to connect key decision-makers within our organisation with innovative enterprises. We are looking to fuel creativity and come up with new solutions which really support our customers and build greater engagement and financial inclusion which is important to our Group’s social purpose and part of our long term sustainability strategy. We are looking to deliver forward-thinking propositions and to be at the forefront in developing innovative solutions, working in collaboration with TCS COIN and the FinTech Scotland community.”
FinTech Scotland chief executive Nicola Anderson says: “We are delighted to support the Phoenix Innovation Forum which is a further example of the valuable role FinTech innovation can play in improving customers’ financial engagement and well-being. Phoenix’s commitment to innovation to support its large customer base and its partnership approach will attract significant interest from FinTech entrepreneurs who share their ambition of helping customers more effectively engage with savings and investments.”
TCS BFSI Products and Platforms global head Vivekanand Ramgopal says: “Enterprises are looking to form collaborative, purpose-driven ecosystems to launch innovative new offerings that deepen customer relationships and drive growth. To succeed, they need an extensible, open API-based, future-ready digital core like the TCS platform that powers Phoenix Group’s operations. That agile digital foundation is now enabling our two organisations to co-innovate around client analytics and customer experiences at our Innovation Lab in Edinburgh. We are delighted to expand this partnership with the Innovation Forum, and bring in partners from our extended innovation ecosystem, the TCS COIN, to innovate at scale and at speed.”