Client engagement in financial services still depends on who the industry designed digital journeys for first - and that history is hard to unwind.
Chris Read, Founder of Dunstan Thomas, has spent years building technology for investment, savings, and retirement firms. That work gives him a cross-market view of how providers, advisers, and end clients adopt - or resist - digital tools.
On Sense of Identity (Season 1, Episode 2), Mind The Gap: Client Engagement In A Tik Tok Era, he discusses demographic inclusion, the pace of digital change in financial services, and what shifted when older clients had to go digital fast.
He also founded The Singing Gorilla Project in Uganda, expanding from a music school into water, health, and education support for remote communities.
Financial services firms are under pressure to meet clients where they already spend time online, including faster, shorter-form digital habits, while still serving cohorts that were never the primary design audience.
From Provider Software to End-Client Usability
Dunstan Thomas supplies technology across investment, savings, and retirement. For much of its early work, the priority sat with manufacturers and providers, not day-to-day end-user usability.
That changed as digital tools became part of both adviser workflows and direct consumer journeys. Product teams had to add consumer-facing capability and design around real behaviour, not only back-office efficiency.
Designing for a Broader Demographic
The practical question is no longer whether a platform works for the institution alone. Firms need journeys that do not exclude less confident digital users while still serving clients who expect modern, mobile-first experiences.
Chris describes that shift as a move from provider-led delivery to tools that account for consumer needs and behaviours at the point of use.
Why Financial Services Digitised More Slowly
Parts of the sector have moved cautiously compared with consumer technology markets. Chris links that pattern to who the industry historically optimised for.
Many propositions were built for older demographics with greater financial resources. Product and service design could follow a pace those clients found acceptable, which slowed broader digital evolution across the market.
Engagement improves when digital design starts with the end client first.
That legacy focus still shapes how firms judge whether a channel is working for the people who actually have to use it.
What the Pandemic Changed for Older Clients
COVID-19 forced a step change. Clients who had little appetite for digital channels suddenly had to use them for everyday contact and transactions.
Leapfrog Adoption in Practice
Chris saw older generations skip several intermediate steps, moving from limited email use to video tools such as Facetime because isolation made digital contact necessary.
"COVID-19 has accelerated digital adoption among older generations. We've seen a leapfrogging of technology, with even those unfamiliar with emails adapting to platforms like Facetime."
Chris Read, Founder, Dunstan Thomas
That acceleration did not remove every barrier. It did show that behaviour can change quickly when the alternative is no contact at all.
Where Digital Engagement Still Stops Short
Online banking and similar tools are reshaping habits across age groups. Chris still sees resistance to transacting digitally in some product areas.
Parental and peer influence continue to shape what people trust online. A client may happily video-call family but hesitate to complete a pension or investment action without human reassurance.
Questions Advisers and Providers Should Ask
These prompts help teams spot where digital-first strategy sounds right on paper but still fails in day-to-day client use.
Checks Before You Assume Digital-First Works
Which steps still need a person on the phone or in a meeting?
Where does the journey assume prior digital confidence?
Who influences the client's trust in a new channel - family, peers, or the firm?
Firms that treat every cohort as equally digital-ready risk pushing clients back to post, phone, or face-to-face routes that feel safer even when they are slower.
Technology Priorities in a Tougher Economic Cycle
When margins tighten, Chris argues technology becomes central to new operating efficiencies, especially through recessions.
At Dunstan Thomas, that has meant continuing product development and holding team size steady through downturns so the business can emerge with capability intact.
Retirement Technology in a Higher-Rate Environment
Rising interest rates change what retirement propositions need to offer. Chris expects more sophisticated blends of guarantees and drawdown, with greater emphasis on guaranteed income where rates support it.
"With rising interest rates, I anticipate more sophisticated retirement propositions, blending guarantees with drawdown options. We're likely to see a shift towards guaranteed income solutions in higher interest environments."
Chris Read, Founder, Dunstan Thomas
Providers and advisers planning product roadmaps need to align digital delivery with those proposition changes, not only refresh front-end design.
"When engagement strategy finally includes the end client, firms discover quickly whether a digital journey is usable or merely available. That gap shows up in completion rates, support calls, and how often people ask for another channel."
Paul Holland, Founder and CEO, Beyond Encryption (Mailock)
For regulated firms, usable digital contact still has to work alongside trusted routes for sensitive documents and replies. Clients who lack confidence in a portal or unfamiliar app often revert to email or phone if those feel more familiar.
Beyond the Sector: The Singing Gorilla Project
Chris also leads The Singing Gorilla Project in Uganda. It began as a music school to build shared language between visiting teams and local communities.
The work grew to include water tanks, a hospital, and schools, with the aim of sustainable support rather than one-off aid.
Thinking About Portal Engagement?
Read our customer preference research to see how people feel about portals, logins, email, post, and receiving important documents.
That thread sits outside core financial services technology, but it reflects the same design instinct: meet people on their terms before expecting them to adopt unfamiliar tools or processes.
FAQs
Why Has Financial Services Been Slower to Digitise Than Other Sectors?
Chris links slower change to a long-standing focus on older, wealthier client groups, which allowed digital evolution to follow a gentler pace than in mass-market consumer technology.
Did Covid-19 Change How Older Clients Use Digital Tools?
Yes. He describes leapfrog adoption, including older clients moving from limited email use to video platforms when isolation made digital contact necessary.
Where Do Clients Still Resist Digital Transactions?
Even with wider use of online banking, Chris sees remaining resistance in some transaction types, shaped by peer and family influence as much as by product design.
What Retirement Trends Did Chris Read Highlight?
He expects more sophisticated retirement propositions that combine guarantees and drawdown, with greater weight on guaranteed income in higher interest environments.
How Did Dunstan Thomas Approach Technology During Economic Pressure?
Chris points to continued product development and maintaining team size through recessions so the firm can rebuild capability after downturns.
Paul, CEO and Founder of Beyond Encryption, is an expert in digital identity, fintech, cybersecurity, and business. He developed Webline, a leading UK comparison engine, and now drives Mailock, Nigel, and AssureScore to help regulated businesses secure customer data.
Paul Holland
.svg)
Previous post