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Why do you ask all those questions? Supporting client profiling in financial service encounters

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Title:Why do you ask all those questions? Supporting client profiling in financial service encounters
Authors:Kilic, Mehmet
Dolata, Mateusz
Schwabe, Gerhard
Keywords:advice-giving scenario
client profiling
design science research
financial advisory services
task awareness
Date Issued:04 Jan 2017
Abstract:Client data is key to provide personalized services and products. Therefore, banks go through great efforts to profile their clients during financial advisory service encounters. Since traditional pen-and-paper profiling does not satisfy the banks’ needs, they strive to digitalize this activity. This paper offers joint profiling as a solution: The advisor and the client jointly create a client’s profile using a shared display. However, test clients provided a mixed response to a first joint profiling prototype. They wondered, why the bank needs all this information. In a second iteration, joint profiling was augmented by task awareness, i.e., linking all profiled information to the client's goal. This task aware joint profiling was far better accepted by the clients. This paper offers research insights on the role of profiling in face-to-face advisory service encounters, on its acceptance by the clients, and on design principles for digital profiling in financial service encounters.
Pages/Duration:10 pages
Rights:Attribution-NonCommercial-NoDerivatives 4.0 International
Appears in Collections: Advances in Design Research for Information Systems Minitrack

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