When it comes to customers, experience is everything. Customers don’t differentiate between small organizations or larger ones, nor differentiate between channels, once they enjoy the best level of satisfaction and best quality service then, they expect same kind of experience from a small firm as they do a larger one. While larger organizations with deep pockets can afford digital transformation initiatives but not all businesses enjoy such luxury.
For such organizations that are constantly looking for ways to turn business dream into a reality, FinTech is a beacon of hope that opens the door to new business possibilities and elevates customer experience with high end solutions that they could only dream of before.
They say technology is a great leveler and there can’t be a better example than FinTech because banking services what was once a domain of banking and financial institutions has seen much start-
up players in this space competing with the large and established banking corporations. But this isn’t to say the traditional banking institutions are falling behind in the digital race, because they certainly in the race.
But banks because of their legacy systems and regulatory frameworks are slow to change and can’t leverage emerging technologies as quickly as FinTech companies. Here are some of the ways technology brings revolution in the financial services industry:
