On Sense of Identity, Michael James, Digital Director at Altus Consulting, on hybrid advice, data-led client journeys, and when financial services customers still want a personal conversation.
Michael James is Digital Director at Altus Consulting, credited as one of the top consultancies by the Financial Times. Altus works across life and pensions, insurance, investment, banking, and wealth, providing specialist consultancy and market-leading software for some of the industry's most challenging problems.
James helps clients define architectural approaches for customer propositions, driving delivery of new applications over new and legacy platforms, and advising on mobile, integration, delivery architecture, and risk.
Discover how top financial firms are using data to understand current and potential clients and improve client journeys and experiences.
Learn how hybrid advice lets clients move between digital self-service and personal advice, and why modern consumers expect both.
See how financial services balances digital solutions with personal interaction for significant financial decisions.
Data, Client Journeys, and Financial Services Context
At Altus, James sees firms sitting on vast amounts of data and trying to use it to understand current and future clients more clearly. The aim is smoother, more personalised client journeys, similar to retail experiences, but financial services makes that harder because client interactions are often less frequent.
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Traditional businesses are working to improve understanding through data, enhance client experiences, and attract more customers by making journeys smoother and more personalised.
Hybrid Advice and Digital Expectations
There is a strong push towards hybrid advice, where clients can switch between digital self-service and receiving advice. Integrating web, phone, and in-person channels remains complex, but the market expects high-quality digital experiences - from basic transactions through to high net-worth clients wanting online access to their wealth.
"There's a strong push towards hybrid advice, where clients can switch between digital self-service and receiving advice. However, integrating various channels like web, phone, and in-person advice is complex."
Michael James, Digital Director, Altus Consulting
For significant life events such as retirement, people still want human interaction when making big financial decisions. That need varies by individual and product, but a personal touch remains vital in financial services.
"When clients move between digital self-service and adviser conversations, firms still need consistent identity, access, and secure messaging across every channel they use."
Paul Holland, Founder and CEO, Beyond Encryption (Mailock)
How Sectors Are Adapting to Digital Change
Each sector faces different constraints. Banking has shifted significantly to mobile platforms, while pensions, with less frequent interactions, faces bigger engagement challenges. The insurance sector has seen a mix of digital adaptation and continued broker use.
The pandemic accelerated mobile-first engagement and reshaped what clients expect. Financial services has to offer advice on client terms, whether digital or in-person.
Leadership and Personal Reflection
Asked what he would tell his younger self, James would advise pushing harder and not being afraid of failure. Every experience, especially the difficult ones, shapes what comes next. Remembering the principles behind those experiences helps you succeed in the long run.
FAQs
Who Is Michael James?
Michael James is Digital Director at Altus Consulting. He helps clients define architectural approaches for customer propositions, advises on mobile, integration, delivery architecture, and risk, and supports delivery of new applications over new and legacy platforms.
What Does Altus Consulting Do?
Altus is a specialist consultancy working across life and pensions, insurance, investment, banking, and wealth. It provides consultancy and software solutions for challenging industry problems.
What Is Hybrid Advice in Financial Services?
Hybrid advice lets clients move between digital self-service and personal advice. Firms are expected to integrate channels such as web, phone, and in-person advice while still meeting demand for high-quality digital experiences.
Do Customers Still Want Personal Advice?
Yes, especially for significant decisions such as retirement. Michael James notes that people often want human interaction for major financial choices, even when they also use digital tools elsewhere.
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
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