5 Jun 2017
by Anna Bennett
Banks often overlook the area of ‘Everyday Spending’. We are all used to highly desirable personalised and inter-connected digital experiences but banks have not delivered.
Lack of personalisation in the current account space is becoming increasingly apparent to consumers. This has led to a plethora of new tech-oriented entrants attempting to steal market share. Consequently resulting in differentiated everyday spending propositions. These leverage digital technology and data to create and enable bespoke solutions for specific customer segments.
Don’t Ignore the Golden Egg
Consequently, this only gets more and more likely with the advent of Open Banking. New entrants have designed their services – and indeed their back ends – to deliver precisely what customers expect from other experiences in other sectors. Customers are demanding services which improve their financial health at a fraction of the time and cost. So how can you ensure customer retention and (re)gain market share?
At FINkit, we’ve conducted extensive consumer research to give our clients some MVP’s for how to start along the journey of delivering better everyday spending services.
Please CLICK HERE to arrange a FREE team discovery workshop to understand how you can put in place better banking products quickly with FINkit.