{"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='BFC FinTech Monitor 16th \u2013 23th October'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-16th-23th-october\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/10\/hYQSYz1-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-15460\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-15460'>\n\t\t\t\tBFC FinTech Monitor 16th \u2013 23th October\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='5 things wealth managers should keep in mind going forward'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/5-things-wealth-managers-should-keep-in-mind-going-forward\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/10\/5-things-wealth-managers-should-keep-in-mind-going-forward-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13729\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13729'>\n\t\t\t\t5 things wealth managers should keep in mind going forward\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='HR needs to embrace changing mindset of employees'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/hr-needs-to-embrace-changing-mindset-of-employees\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/04\/417208-PD794A-200-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12557\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12557'>\n\t\t\t\tHR needs to embrace changing mindset of employees\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],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/10250"}],"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}]}}