Putting The Data to Work
Payments and financial services providers are no longer just focusing on how their products look, feel, and operate in 2022. They now prioritize making the end user the focal point of the experience. And that is where the data comes in.
“Brands are enabling intelligent interactions that put people at the center,” said Galileo CRO Seth McGuire, in the recent PYMNTS.com report, Baseline 2022: What The Next Six Months Holds. “The more intelligent the interaction we build, the fewer people will need to be involved in delivering better experiences and more adaptive solutions to customers.”
This represents a considerable shift that not only changes how products are now built on the back end, but also an enormous technology investment from financial services providers. As a result, the market opportunity for fintech companies is considerable. “Older tech stacks will not compete with digital-native core platforms going forward,” said McGuire.
Why is this such a significant trend? Because the data enables the customer interactions to be intelligent, which means enhancing the customer experience, making it more personalized and automated, and removing unnecessary people from the process.
Furthermore, while banks and other traditional financial institutions are good at collecting data, they are known for lagging when it comes to leveraging that data to personalize and automate the customer experience. This is where fintechs offer a considerable advantage. “The average turnaround for new technology at a major financial institution is just over two years,” noted McGuire. “By contrast, teams working on a modern technology platform can turn out the same or better results in a matter of hours or weeks, delivering useful data from across a provider’s ecosystem.”
When providers properly utilize the data they collect, they can offer customizable solutions that can be scaled. Consumers and businesses can then connect more efficiently, which positively impacts everyone’s bottom line.
McGuire believes that we will see this trend continue into the second half of 2022 and beyond. “It’s no longer about the product itself. It’s about the customer experience,” he said.
IA no Setor Bancário da América Latina: CX Digital em 2025
Descubra como a IA conversacional está revolucionando o setor bancário na América Latina, reduzindo custos em 70% e aumentando a satisfação do cliente em 80%. Inclui estudos de caso reais e guia de implementação.
O que está impulsionando o ecossistema fintech cada vez mais sofisticado do Peru?
Explore como o cenário fintech do Peru está evoluindo por meio da consolidação do mercado, investimento estrangeiro e maturação do ecossistema – impulsionando novas oportunidades para o desenvolvimento fintech na América Latina.
Como a Rapid Finance Está Ajudando Pequenas Empresas a Crescer com Financiamento Rápido e Flexível
Descubra como a Rapid Finance capacita pequenas empresas a crescer com soluções de financiamento rápidas e flexíveis feitas sob medida, e o papel desempenhado pela Galileo e SoFi.
Como Acertar na Modernização do Core Bancário
A história de sucesso de modernização do core do Valley Bank oferece lições sobre como equilibrar a transformação digital com a confiança do cliente para alcançar essa transformação tecnológica crítica no setor bancário.
Como Tecnólogos Bancários e Líderes de Crescimento Podem Se Alinhar na Modernização do Core
Os líderes bancários reconhecem a necessidade de modernizar o core para se manter competitivos e impulsionar o crescimento na era digital. Saiba como alinhar casos de negócios e técnicos para modernização.
