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FinTech Pulse

The experience customers expect from their bank

Dear Banks,

Welcome to The Age of the Customer. For FIs, this means shifting the banking relationship beyond transactional services to the very heart of your customers’ daily living experience. But what does that actually mean in practical terms, and how can banks achieve it?

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Topics: Personal Financial Management (PFM), Digital Transformation, digital money management, personalized banking, customer experience

Author: Erik Brieva, CEO on Oct 6, 2015

6 ways FinTech can change the banking game for women

FinTech has been lauded as a game-changer in nearly every sense of the word, but can it also revolutionize the way banks serve women? 

Right now, women clients are finding that FIs simply aren't meeting their specific needs. In fact, a BCG survey of more than 12,000 women from 21 countries found that of all the industries that affect their daily lives, women feel most dissatisfied with the financial services industry, both on a product and service level.

The surveyed women also reported a strong willngness to switch to a provider that would understand them better. This translates to real costs for banks failing to deliver an empathic understanding of women's unique situations and needs in running their homes and businesses (oftentimes happening simultaneously).

After all, we're talking about 50% of Earth's population here, and that's no small change - particularly when it comes to women who run their own business. Women entrepreneurs represent a very profitable and financially engaged segment with an even more specific set of needs that have traditionally been ignored. According to a 2014 Goldman Sachs report, woman-owned SMEs represent an untapped potential market for banks of approximately $235 billion

So why, in so many aspects of banking, haven't women's needs been prioritized? And how can FinTech help the financial services industry cater more effectively to women entrepreneurs? 

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Topics: FinTech, Digital Transformation, SMEs, Financial services for women, personalized banking, women entrepreneurs

Author: Leandro Gimeno, Business Development Manager on Sep 17, 2015

What if banking was as personalized as streaming music?

Banks have the chance to revolutionize finance just as Spotify has with music - but how can they use their Big Data advantage?

Are you in love with “Discover Weekly” too? Fellow Spotify users know what I’m talking about: the newest feature is a two-hour playlist, updated automatically every Monday, and based on both my personal taste as well as the listening habits of other users with similar preferences. Spotify claims that Discover Weekly will automatically adapt as my musical tastes evolve, and the more I use their service, the more relevant my algorithm-based curation will become.

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Topics: Disrupting Banking, Digital Transformation, Big Data, Retail banking, personalized banking

Author: Victoria Yasinetskaya, Marketing Director on Sep 8, 2015

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