{"id":10250,"date":"2018-07-20T17:53:21","date_gmt":"2018-07-20T17:53:21","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=10250"},"modified":"2018-07-20T17:53:21","modified_gmt":"2018-07-20T17:53:21","slug":"how-digital-banks-are-raising-the-bar-for-customer-experience","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/how-digital-banks-are-raising-the-bar-for-customer-experience\/","title":{"rendered":"How digital banks are raising the bar for customer experience"},"content":{"rendered":"<p>Digital-only challenger financial institutions have changed customer expectations, including customer service and how customers want to use financial products. They have shown us what is possible with a nimble, tech-driven financial institution. Here are three ways digital-only financial institutions are responding to customer expectations better than their traditional counterparts:<\/p>\n<ul>\n<li><strong>Building online marketplaces<\/strong> \u2014 a marketplace model lets the financial institutions grow their product offerings without having to develop them from scratch. It\u2019s a concept that has been missing in banking for a long time: an Amazon-like platform that lets financial institutions offer other providers\u2019 financial products and services without having to establish individual partnerships or one-off integrations.<\/li>\n<li><strong>Providing products for travelers and mobile workers<\/strong> \u2014 many customers need to be able to easily move between countries. Revolut now offer customers the chance to open a multi-currency account for minimal fees, something traditional financial institutions often find difficult to do. Additionally, they also give customers the chance to access a range of additional services relevant to their lifestyle, such as travel insurance and free unlimited foreign exchange transactions.<\/li>\n<li><strong>Making customers part of the product<\/strong> \u2014 customer experience is key in the digital-banking world. But just because digital-only financial institutions do not have a branch, it does not mean that they are not interesting in interacting with their customers. Most digital-only financial institutions routinely seek customer feedback to make sure their products and services meet all their customers\u2019 needs.<\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-10250 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Overview of the World FinTech Report 2021 (Video)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/overview-of-the-world-fintech-report-2021-video\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/06\/7DURjN1-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-16075\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16075'>\n\t\t\t\tOverview of the World FinTech Report 2021 (Video)\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Ingenico\u2019s 5 payment predictions for 2020'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/ingenico-s-5-payment-predictions-for-2020\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/01\/ingenico-s-5-payment-predictions-for-2020-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-14378\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14378'>\n\t\t\t\tIngenico\u2019s 5 payment predictions for 2020\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Developing IoT solutions in the financial industry'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/developing-iot-solutions-in-the-financial-industry\/'><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/12\/developing-iot-solutions-in-the-financial-industry-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"rpbt-related-gallery-1-11925\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-11925'>\n\t\t\t\tDeveloping IoT solutions in the financial industry\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Digital-only challenger financial institutions have changed customer expectations, including customer service and how customers want to use financial products. They have shown us what is possible with a nimble, tech-driven financial institution. Here are three ways digital-only financial institutions are responding to customer expectations better than their traditional counterparts: Building online marketplaces \u2014 a marketplace &hellip;<\/p>\n","protected":false},"author":5,"featured_media":10247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[77,35],"class_list":["post-10250","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-fintech","tag-customer-experience","tag-digital-banking","b_post_type-bfc-recommends"],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=10250"}],"version-history":[{"count":3,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10250\/revisions"}],"predecessor-version":[{"id":10408,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10250\/revisions\/10408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/10247"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=10250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=10250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=10250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}