Advanced Technology in FinTech

The advent of technology has revolutionized the fintech realm. As banking institutions expand on their digital repository of information and online services, a key area to focus on is improving the consumer engagement metrics. However, a lot of people don’t remember a bank should not ignore its offline modes of communication altogether. Here are some aspects where you can maximize your efforts to bolster consumer loyalty.

Using a humanized approach

This includes providing your consumers with adequate responses on time, solving their problems quickly and offering them finance-related guidance when needed. During a global recession, being approachable and offering a personalized feedback person-to-person works better than sending them a faceless email.

Creating a digital and in-person presence in tandem

Making sure you don’t miss out on the digitalization of banking activities is important but for some consumers, building a rapport with them in person works best. Consumer loyalty metrics are impacted by how effectively you communicate with them so make sure you prioritize both online and offline aspects.

Revamping your consumer reparation mechanism

Going through your existing feedback system periodically and identifying gaps that prevent consumers from engaging with your services is essential. This could be a lack of employees in consumer support or extra help for consumers unable to make the jump to virtual banking services.

Multichannel appeal

Eventually, a good method you cannot go wrong with is assigning equal significance to every medium through which consumers interact with your bank. This gives them the option to choose and engage with one they are most comfortable in.

Boosting your consumer metrics

Ensure that your bank has invested in the latest tools for communication like chatbots, updated FAQs, videos explaining new features, real-time in-app support and more.  Giving your online presence a facelift will also go a long way in giving updated information to consumers and increasing positive interaction metrics.

Timely assistance

A lot of consumers face trouble in finding timely solutions to their problems and queries. Having a long channel of feedback registration is frustrating and outdated. Go for speedier and efficient complaint-resolving systems that assist the consumers at the earliest.

Upgrading the skills of workforce

We’re living in the golden era of technology and ensuring that your employees are equipped with enough technical prowess to deal with the consumers is the need of the hour. Empowering them with the trending digital practices will also help build your virtual identity.

Ease of accessibility

At the end of the day, no consumer wants to engage with a bank who is hard to connect with for any purpose. This even extends to supplying your workforce with accessibility to accurate, updated and holistic information at all times. This would go a long way in optimizing the relationship between consumers and the bank.

The article has been published by the editorial board of the Fintek Diary. Happy Reading. For more information please visit

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