Benefits of measuring financial resilience and working with us

By measuring the financial health and resilience of your customers, clients and employees, your organization can define success based on positive outcomes for both your customers and your organization. Seymour’s financial resilience scoring, data and analytics combine with our consulting expertise and customized solutions: to help you create innovative strategies and tools to move you forward.

Why measure financial health and resilience?

Diagnosing and tracking the financial resilience (and financial health and well-being) of your customers, clients and employees will allow you to:

  • Better understand your customers’ financial needs, vulnerabilities and stressors, and identify opportunities to help them build their financial resilience, well-being.
  • Identify which customers are more financially vulnerable and develop strategies and partnerships to better meet the needs of your customers and target populations, while managing risk.
  • Determine whether your products, services, programs and investments are making a difference in the lives of your customers.
  • Assess your company’s efforts, customer experience and service delivery performance against national, provincial and segment benchmarks.

By levering the Seymour Financial Resilience Index TM, your organization can understand, measure and track the financial health and resilience (and financial stress and financial vulnerability) of your customers: at the individual household or customer level, segment level, provincial level and national level. Please visit Seymour Financial Resilience Index page for more information on the Index and the types of organizations it can help support.

This creates a new three dimensional lens, with forward-based indicators, around your customer, and their motivations, challenges and current and future behaviours. Your customers’ financial resilience score can be an augmentation and complement to their credit score and other data. Given the important role Financial Institutions, Government and other organizations are playing in terms of supporting the financial lives of their customers – and the impacts of the Covid-19 pandemic on many households and our economy over the short to medium term, this measurement is more critical than ever. Financial resilience scoring and measurement can help inform decision-making and enable more targeted strategies and support, for your customers and business.

By accessing the Index and services, we can help you understand, measure and improve your customers’ financial health and resilience, and the extent to which your organization is helping to improve the financial wellness of your target customers, employees, communities and markets over time, including compared to non-customers and competitors and against Index benchmarks. We can provide access to the Index for your organization on an annual basis, or ad-hoc, with pro-bono services also provided to some organizations.

Measurement also helps build accountability within your organization, build culture and empower your talented teams to do more to improve the financial health and resilience of your customers, while delivering more empathetic service. The four financial resilience segments created through the Index also provides a powerful tool to help your advisors and front-line staff to have different, and deeper conversations with customers based on where they are at – while uncovering new product, service and advice opportunities.

By understanding where they stack up in terms of their financial health and resilience your customers can also be and empowered to improve their financial health and resilience in ways that matter to them, including through digital and self-serve tools and other programs, all while working towards their life and financial goals.

We are also leading many customized strategy and innovation projects to help organizations to improve the financial resilience and well-being of their customers at scale. Please contact us to schedule a consultation and tell us more about your needs.