Making the Business Case for Financial Health

Amid a rapidly evolving competitive and technology-driven landscape, financial service providers must continually revisit and evolve their business models and practices. A business strategy oriented around consumer financial health offers banks, credit unions, lenders, and other providers an avenue for growth, organizational resilience, and profitability. An essential element of this strategy is expanding the organization’s definition of success to include positive outcomes for customers that are regularly measured and tracked, in addition to positive returns for the business. Focusing an organization on improving consumer financial health marks a shift in corporate philosophy – from being in the financial services business to being in the financial health business – with the promise of returns for both customers and shareholders.

In this brief:

• What it means to be in the financial health business and why it matters for your organization
• Early evidence to support the financial health business case
• How to make the business case to understand your total return on investment