The financial services industry has been experiencing significant changes in recent years due to the increasing demand for digital solutions and the emergence of a cashless society. As technology continues to advance, it has become essential for financial service providers to adapt and stay ahead of the game.
One way they can achieve this is by leveraging survey data to gain valuable insights into the ever-changing needs of their customers. Surveys provide a deeper understanding of customer behavior, preferences and expectations so that financial institutions can tailor their offerings to their clients’ needs.
Knowing your market
Knowing your market is crucial for success in the financial service industry. Financial services inherently tie to individuals’ financial needs and goals, which vary considerably depending on age, income and life stage.
One of the most significant changes in the financial service industry in recent years has been the rise of fintech, or financial technology. In late 2021, there were nearly 11,000 fintech startups in the U.S. alone — making it the region with the most fintech startups globally.
Fintech companies offer innovative solutions that are often more accessible, user-friendly and cost-effective. This has created a shift in consumer expectations, particularly among younger generations who are more likely to embrace technology and prioritize convenience.
Financial service providers (FSPs) must stay up-to-date with the latest trends and technologies to meet these consumers’ changing needs. This includes using survey data to better understand customer preferences and expectations and identify areas where they can improve their offerings. By leveraging survey data, FSPs can gain valuable insights into consumer behavior and develop products and services tailored to their customers’ needs.
Why conduct financial market research?
Market research in financial services is essential for FSPs looking to reduce business risk, make accurate forecasts, target specific demographic groups and improve internal performance. By leveraging the insights provided by market research, FSPs can stay ahead of the curve and remain competitive in a rapidly changing industry.
Risk reduction
Conducting market research can help financial service companies reduce their business risks by providing valuable insights into their customers’ needs, preferences and behaviors. By understanding these factors, FSPs can make more informed decisions about the products and services they offer and how they market and promote them.
Creating a financial strategy that covers all the risks and advantages a company may face might help FSPs decide which possibilities to pursue — helping them avoid costly mistakes and minimize their risk exposure. Some common research areas for financial service companies include the following:
Business banking
Insurance
Mortgages
Personal loans
Property management
Effective forecasting
Market research is essential for effective forecasting and analysis in the financial service industry. Proper financial forecasting is critical for FSPs to strategize in the face of potential company risks. As a result, financial market research assists businesses and institutions with strategic planning.
By collecting data on customer behavior, preferences and needs, FSPs can better predict future trends and make more accurate forecasts about market demand. This can help with the following:
Effectively plan and allocate resources
Improve performances
Set realistic and relevant goals
Predict yearly budgets
Demographic targeting
FSPs require good financial markets research to examine their target market and what they require from their firm to determine their ideal demographic. This type of research is also valuable for determining the distribution of consumer spending over time and how customers perceive their financial conditions.
By gathering data on customer demographics such as age, income and education level, FSPs can create more targeted marketing campaigns that are more likely to resonate with their target audience. This can help them attract new customers and retain existing ones.
Internal audits
Finally, market research can assist in internal audits for FSPs. Companies can review financial market conduct to evaluate trading activity, existing credits and regulatory reports for a successful internal audit. Because of the interconnection of the financial system, institutions must examine and analyze their exposure to systemic risks by reviewing and analyzing macroeconomic factors, industry trends, regulatory changes, risks materializing at other entities and peer innovation. An internal audit provides a complete report on the market’s current and predicted financial concerns.
How to conduct market research in the financial services industry
Financial marketing research is an essential tool for any firm looking to make informed decisions and stay ahead of the competition. In the financial services industry, where the landscape is constantly evolving, it’s imperative to conduct thorough and accurate market research. Moreover, FSPs can choose to conduct their research in several ways — through primary and secondary research methods.
Primary methods
Primary market research methods involve gathering data directly from your target market through various means. These methods help collect information specific to your business and goals. Here are some typical primary market research methods:
Surveys: Financial service companies can use surveys to collect data from their target market. You can conduct surveys online, over the phone or through email. They can gather information about customer preferences, satisfaction levels and buying habits.
Focus groups: Focus groups are a way to gather qualitative data from a small group of people with similar characteristics or experiences. Financial service companies can use focus groups to explore new ideas, test concepts and gain insights into customer attitudes and behaviors.
Interviews: One can conduct interviews one-on-one or in small groups. One can structure or leave interviews unstructured and conduct them in person, over the phone or online. FSPs can use interviews to gather detailed information about specific topics or issues.
Observation: Observation involves watching and recording how people behave in specific situations. Financial service companies can use observation to gather customer behavior and preferences data.
Primary market research methods can provide businesses with valuable insights into their target market, customer needs and preferences and help them make informed decisions.
Secondary methods
Secondary market research methods involve using existing sources of information to gather data and insights about a market or industry. Here are some typical secondary research methods used in the financial service industry:
Industry reports: Research firms, trade associations and government agencies publish industry reports. They provide information about market size, growth rates, industry trends and key players in a specific industry.
Government statistics: Government agencies provide statistics on various economic indicators, such as inflation rates, interest rates and GDP. Financial service companies can use these statistics to track market trends and make data-driven decisions.
Competitor analysis: Competitor analysis involves researching and analyzing the strengths and weaknesses of a company’s competitors. Financial service companies can use this information to identify areas where they can differentiate themselves from their competitors.
Academic research: Academic research can provide insights into customer behavior, financial regulation and market trends. Financial service companies can access academic research through academic journals, conferences and research institutions.
Social media analytics: Social media analytics involves analyzing data to gain insights into customer behavior and preferences. Financial service companies can use social media analytics to track customer sentiment and identify emerging trends.
Secondary market research methods can be cost-effective for financial service companies to gather information about their market and competitors and make data-driven decisions.
Surveys vs. administrative data
Surveys are a common market research tool that enables researchers to collect information about people’s attitudes, preferences and behaviors. Surveys provide a way to sample a population and gather data on various topics, including customer satisfaction, product usage and brand awareness.
In contrast, administrative data is information collected from a company’s normal operations, such as sales figures, website traffic or customer demographics.
Surveys allow researchers to gather more in-depth information about customers and their experiences, while administrative data can provide a more accurate picture of actual customer behavior.
Make market research a breeze with Cint
Cint has access to one of the world’s largest consumer panel networks and can assist you in reaching the demographics you require.
Our survey sampling technologies provide results quickly. Cint’s global market research solution offers unrivaled flexibility and access to survey audiences.
Whether you want to implement surveys independently or need help, our knowledgeable team is always a click away. Contact us online today for more information.
Explore how survey design, inclusive language, and community engagement can help us create research that reflects the full diversity of human experience.
Director of Product Management at Cint, Stephanie Gall, joined the EMARKETER podcast to discuss how to make better campaign decisions in periods of flux.
Feeling the pinch but still need to deliver? A panel of experts headed by Cint’s Laura Manning discuss strategic approaches to media measurement during a period of flux.
Live at the Advertising Week Europe event in London, April 2025, Advertising Week’s Katie Ingram and Cint’s Ariel Madway took the stage to unpack generational divides.
Survey design can have a dramatic impact on the quality of your research. Download our guide to find out how to improve survey experience for respondents and reduce drop-off rates.
Brand trackers and brand lift studies are valuable insights tools for measuring consumer sentiment about a brand. Let’s explore what makes these types of studies unique and how they can most effectively be applied to your needs.
Cint’s Jimmy Snyder, Vice President of Trust and Safety, and Shelby Downes, Senior Program Manager, discuss a range of approaches for taking action against the bots.
A panel of experts voice their opinion on what difficulties insights professionals need to be aware of in the year ahead — and how best to approach them.
A panel of experts voice their opinion on how market research and insights professionals will continue to foreground automation in their methodological approach.
Introduction Across the market research industry, more and more organizations and companies are using AI to speed up audience insights analysis. The reason is simple: AI can streamline previously lengthy processes. Formerly time-consuming work can now be done in seconds, with human beings on hand to ensure accuracy. AI tools save time and money but…
Knowing how to prioritize your limited budget while increasing the impact of your digital advertising will make the difference between success and just getting by this year.
At TMRE 2024 in Orlando, KFC’s Renee Reeves joined Cint’s Ryan Fletcher for a fireside chat on how building the right tech partnerships is the (not-so-secret) recipe for fostering a culture of innovation and setting your insights team up for success.
We speak with Andy Perricone, Senior Talent Acquisition Manager at Cint to find out how Cint avoids gendered language in job ads, why it matters, and how we foster inclusivity that attracts the top talent from all genders and backgrounds.
In 2025, global advertising spend is predicted to surpass $1 trillion—a milestone so monumental it could stretch dollar bills to the sun and back. However, beneath this record-breaking number lies a complex reality: while data is abundant, marketers and agencies still face significant challenges in unlocking its full potential. A recent research collaboration between Lotame…
As the festive season approaches, travelers worldwide are packing their bags for one of the busiest travel periods of the year – but not without a little help from technology. If the idea of using AI as your personal travel assistant sounds appealing, you’re not alone. This year, holiday travel trends reveal not only a…
Cint and Advertising Week partnered on research looking into the relationship between media influence and voter behavior leading up to this year’s US and UK elections.
From ordering food online to the rise in quick commerce, our comprehensive Diwali survey reveals how technology is reshaping the way people prepare for and celebrate Diwali.
From carnival chasing to pilates, and kitesurfing to kickboxing, our international employees at Cint talk about how their hobbies keep stress under control.
A conversation with France Lasnier, SVP, for UK, France, Central Europe and Louis Nix, Senior Analyst, Product Operations, on the importance of a data-driven approach for companies.
A conversation with Cint experts Dhruv Mathur, Vice President, Information Security and Caroline Tahon, Data Protection Officer, on keeping data as safe and secure as possible.
Push Digital, a campaign agency active in America’s highest stakes races and debates by leveraging their digital expertise to start conversations, persuade audiences, and turn out voters, partnered with Cint on a study to uncover gaps in voter support.
Using CintSnap, we surveyed 300 UK respondents on how they plan to engage with the iconic celebration and what aspects of the event excite them the most.
Using CintSnap we surveyed 300 people in the UK on how they plan to engage with the Games, most watched sports, and how brand sponsorship is perceived.
Using CintSnap, we conducted a poll with approximately 300 people from the UK to explore what they read, how they read, and what persuades them to take a punt on a new title.
HR, payroll and recruitment solution specialists Employment Hero conducted a survey with Cint to delve deep into how AI assistance could be a boon for payroll professionals across Australasia.
Maintaining data ethics is critical in market research, especially with the rise of AI technologies. Transparency, compliance with regulations, and educating employees ensure consumer information is protected.
Political scientists Andrew O’Donohue and Daniel Markovits conducted a survey with Cint to understand how prosecution of Donald Trump affected public opinion among independent voters.
From London to Malaga and Cairns, Ariel Madway takes us on a journey through Cint’s busy events season, her planning inspiration and what she’s most excited about.
Both CTV and linear TV advertising present big opportunities for advertisers. In particular, the booming demand for CTV ads. We look at what the TV upfront and NewFronts are all about and the state of streaming in 2024.
In the world of market research, finding and engaging with niche audiences can feel like navigating uncharted territories. Gaining insights demands innovative strategies and streamlined processes.
When it comes to social customs and norms, few practices are as divisive as tipping expectations. We use CintSnap to survey consumer behaviour around tipping in the US and UK.
With the prestigious Academy Awards marking its 96th year, we set out to discover if the glitz and glam of ceremony still holds weight in determining viewing habits of filmgoers, as well as why people tune in, how predictions played out and who they thought should have won the coveted golden globes.
International Women’s Day is an opportunity to celebrate wins, raise awareness and get conversations going. We’ve dived into the narrative at Cint by uncovering the insights around International Women’s Day.
We’re proud to share that Cint, a global leader in market research, emerged as the leader in sample quality for online polls in a third-party study. Sapio Research, a UK market research agency, conducted the study to understand if online surveys are accurate. Sapio surveyed 2,036 UK consumers – representative by age and gender of…
For Valentine’s Day 2024, the National Retail Federation predicts that consumers will spend $25.8 billion. We used CintSnap to find out how people in the US and the UK approach this romantic season, by surveying 300 respondents.
As football fever grips the nation, the anticipation for this year’s game is reaching unprecedented heights. We surveyed the nation to understand more about how people are planning to watch, and so much more.
On the 28th of January every year, the importance of personal data, and of Personal Identifiable Information (PII) is celebrated across the world on Data Protection Day.
The Australian Open is the first of the four Grand Slam tennis tournaments to occur. We uncovered spectator experience through preferences and behaviors of our 280 respondents across Australia.
Nick Richards, Director of Product, shares an update on the work his team have been doing to comprehensively integrate every corner of product offerings on the new platform.
With the festive season well behind us, and gloomy skies looming above, January for a myriad of reasons, isn’t the most exhilarating of months. This sentiment is so nationally widespread that in 2005, a UK-based travel agency coined the term ‘Blue Monday’ to mark the most depressing day of the year.
January is a popular time for reflection and what better month to get our plans organised for the year ahead of us? A new year represents new uncharted destinations we’ve yet to discover, and for some, the usual trusted spots bring familiar comfort to recharge weary batteries.
Vishal Bhat – Program Manager, Susi Lindner – Vice President, and Sonali Kaushal – Senior Manager at Cint discuss the importance of being inclusive in language around gender.
If Taylor Swift took up the greatest amount of air space and attention in pop culture this year; the rise of artificial intelligence (AI) – and its impact on jobs – took up the greatest amount of air space and attention in professional settings.
Since there’s nothing we love more than a data driven trip down memory lane, we’ve rounded up the top 10 #CintSnaps which got the highest engagement from you this year.
When I took the reins from Tom Buehlmann on the 3rd of April of this year, the integration of Cint, Lucid, Gapfish and P2Sample was well under way – but there was still work to do. A lot of work.
Our first video in our new interview series is with Jonathan Jaynes, Senior Director of Product Design, Cint, who shares an insider’s perspective on the groundbreaking developments underway.
Our most recent CintSnap takes a festive peek into the sentiments the UK public to unveil their thoughts on this year’s Christmas ads. Join us in unwrapping the findings and discovering what makes these ads a seasonal staple for UK consumers.
When we talk about migrating customers and supply partners to our new platform, we understand that concerns may arise. In this blog post, we want to address some of the worries you may have, and give a little reassurance about the process. You’re in good hands, we promise!
The build up to the holiday season is almost palpable, Christmas lights illuminate city centers and cheese fondue and mulled wine start popping up on the menu. We pull out our coziest socks from the attic storage and gear up for hours of Home Alone movie marathons and engage in another big part of the yearly tradition -…
As Black Friday and Cyber Monday (BFCM) sales continue to skyrocket and dominate global retailer revenues, Cint takes a deeper look into consumer behaviors in the US, UK, Canadian and Australian markets, and the shopping habits that drive this highly anticipated shopping season.
Using Cint’s owned data – that we call CintSnap – we gathered some insights around sentiments surrounding consumer behavior of the implementation of AI in the music industry, specifically on the posthumous Beatles collaboration.
The financial services industry has been experiencing significant changes in recent years due to the increasing demand for digital solutions and the emergence of a cashless society. As technology continues to advance, it has become essential for financial service providers to adapt and stay ahead of the game.
One way they can achieve this is by leveraging survey data to gain valuable insights into the ever-changing needs of their customers. Surveys provide a deeper understanding of customer behavior, preferences and expectations so that financial institutions can tailor their offerings to their clients’ needs.
