ISSUES AND CHALLENGES IN THE MARKETING OF FINANCIAL SERVICES IN THE TURBULENT TIMES

Abstract

In Financial Services today there is greater focus on making customers affordable to buy the products which are marketed to them. Companies need to put the customer first and be confident that they have in place the right processes to ensure both their brands as well as customers are protected. Affordability comes down to much more than verifying an individual's income. Extra layers of financial and lifestyle insight can help brands go much further and build up pictures of customers on which to base decisions. By measuring how sophisticated products are and identifying which customers they're appropriate for it is possible to minimize risk while demonstrating compliance. The emergence of online comparison sites over the past few years has given customers a wider choice while buying financial products online. This paper deals with the issues and challenges associated with the marketing of financial services. The study takes into consideration the secondary data based on recent trends and regulations in financial services sector in India.