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Mapping Consumer Financial Services through a new lens!

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Unpacking and explaining the Peak Paradox model is here , you will need this backgrounder to understand the model so that this article will make sense; it is a 5-minute read. A new way of seeing the same thing will mean we can act differently; this is the peak paradox model’s core tenet.  ---- A recurring question on an executives mind in the finance industry is; “ Why does up or cross-selling not deliver in the way we forecast or predict? ”  Cross-selling is foundational hypnosis for growth.  H0; this customer has one product, and therefore they should want my other products; all customers need all my core finance products.  With years of data, it is evident that a customer who uses my payment system does not want my other products, and after years of cross-selling we still only have 30% of customers with all products. Whilst we can conclude there is a problem with the hypothesis, we choose to ignore this fact and continue to try to upsell as we don’t have a framework to explore why!