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[Finance] Customers are Turning to Communities for Financial Advice

Posted by Bradley Chalupski on Jul 23, 2018 9:00:00 AM

4 minute read

No one can blame banks for being confused as they struggle to meet bottom-line targets.

After all, their overall strategy is as fundamentally sound as it always has been — interact with customers in a way that drives revenue and profits. The problem is what that looks like has changed faster than banks have been able to adapt.

Traditionally, profitable customer interactions came from decreasing the cost of interactions with the bank, even if it harmed customer experience. But in a world where banking services are increasingly commoditized, banks must differentiate their customer experience to remain competitive.

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Topics: Fintech

[Fintech] Customer Experience is the New Competitive Advantage

Posted by Bradley Chalupski on Jun 21, 2018 9:29:30 AM

4 minute read

As more and more consumers continue to turn to Fintech disruptors in areas that were traditionally the province of banks, financial institutions are finding it increasingly difficult to differentiate themselves in the market. Already in 2015, majority of banking customers said that they would prefer to use their mobile phone to their physical wallet.

This is just one of many statistics illustrating the gradual phaseout of traditional financial methods in favour of digital alternatives. But what's interesting is that in many ways, the traditional banking sector has misdiagnosed the problem as one of technology.

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Topics: Fintech

[Finance] Need to Boost Membership on your Fintech Forum? Here’s How.

Posted by Devin Trim on Apr 27, 2018 11:47:45 AM

3 minute read

 

If you’re struggling to obtain (and maintain) higher numbers of forum members for your company’s website, you’re not alone. Financial services and the costs associated with it (both time and financial) are known as “grudge purchases”. A grudge purchase is a purchase made out of some form of obligation, rather than a pursuit of pleasure or self-gratification.  

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Topics: Fintech

[Finance] How Financial Brands Use Customer Support to Differentiate their Customer Experience

Posted by Bradley Chalupski on Apr 25, 2018 10:44:19 AM

4 minute read

Too often, companies look for differentiation in all the wrong places. Financial brands in particular are guilty of this.

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Topics: Fintech

[Finance] How Banks Use Customer Self-Serve Data to Improve the Customer Experience

Posted by Bradley Chalupski on Apr 23, 2018 9:18:45 AM

4 minute read

The need B2C financial organizations to create excellent customer experiences has never been greater – yet  it has never been a more difficult objective to achieve. As technologies change the nature of banking to an increasingly transactional model, the assumption is that they themselves now have fewer opportunities to differentiate themselves to customers.

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Topics: Fintech

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