Fintech Confidential’s Post

🔍 Want to know the secret to winning over your customers? 🤔 "Listen to your consumers and make a conscious effort to solve the biggest problems. And at SavvyMoney, that client satisfaction and customer ratings from the financial institutions that we work with drive the DNA of our company. When an FI goes on and on about how great we were to work with and follow up and just the success they've had, that drives the company satisfaction. And the same will hold true for the consumer. When we get that consumer feedback that you changed my life, now you're working with a purpose. There's a purpose behind what you're doing." - JB Orecchia, President and CEO of SavvyMoney Imagine transforming your business by simply listening to your customers 🎧. At SavvyMoney, customer feedback isn’t just valued – it’s the heartbeat of the company 💓. When financial institutions rave about the impact and follow-up, it fuels our passion and purpose 🚀. ✉️ Want more insights like this? Subscribe to our newsletter for more! 1️⃣ Solving consumer problems 2️⃣ High client satisfaction 3️⃣ Purpose-driven work Customer feedback is more than just words – it’s a powerful tool for growth 🌱. Hearing that you've changed someone’s life is not only rewarding but also drives the purpose behind every decision and action. At SavvyMoney, we thrive on this feedback and use it to propel us forward 🏅. Fintech Confidential Leaders One on One Series #CustomerSatisfaction #BusinessGrowth #ClientFeedback #SavvyMoney #FinancialInstitutions #CustomerLoyalty #TeddHuff #FintechConfidential #CustomerReviews #BusinessStrategy #PurposeDriven #ClientRatings #BusinessSuccess #CustomerInsights #ImprovingService #CustomerCentric #SolvingProblems #BusinessMission #CustomerDriven #HighSatisfaction #ListeningToCustomers #BusinessTransformation #FintechPodcast #CustomerFeedback #BusinessPurpose Tedd Huff DD3 Media Fintech Confidential

🔍 Want to know the secret to winning over your customers? 🤔 "Listen to your consumers and make a conscious effort to solve the biggest problems. And at SavvyMoney, that client satisfaction and customer ratings from the financial institutions that we work with drive the DNA of our company. When an FI goes on and on about how great we were to work with and follow up and just the success they've had, that drives the company satisfaction. And the same will hold true for the consumer. When we get that consumer feedback that you changed my life, now you're working with a purpose. There's a purpose behind what you're doing." - JB Orecchia, President and CEO of SavvyMoney Imagine transforming your business by simply listening to your customers 🎧. At SavvyMoney, customer feedback isn’t just valued – it’s the heartbeat of the company 💓. When financial institutions rave about the impact and follow-up, it fuels our passion and purpose 🚀. ✉️ Want more insights like this? Subscribe to our newsletter for more! 1️⃣ Solving consumer problems 2️⃣ High client satisfaction 3️⃣ Purpose-driven work Customer feedback is more than just words – it’s a powerful tool for growth 🌱. Hearing that you've changed someone’s life is not only rewarding but also drives the purpose behind every decision and action. At SavvyMoney, we thrive on this feedback and use it to propel us forward 🏅. Fintech Confidential Leaders One on One Series #CustomerSatisfaction #BusinessGrowth #ClientFeedback #SavvyMoney #FinancialInstitutions #CustomerLoyalty #TeddHuff #FintechConfidential #CustomerReviews #BusinessStrategy #PurposeDriven #ClientRatings #BusinessSuccess #CustomerInsights #ImprovingService #CustomerCentric #SolvingProblems #BusinessMission #CustomerDriven #HighSatisfaction #ListeningToCustomers #BusinessTransformation #FintechPodcast #CustomerFeedback #BusinessPurpose Tedd Huff DD3 Media Fintech Confidential

🚀 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐢𝐧𝐠 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐋𝐞𝐧𝐝𝐢𝐧𝐠: 𝐓𝐡𝐞 𝐀𝐫𝐭 𝐨𝐟 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐉𝐨𝐮𝐫𝐧𝐞𝐲 𝐁𝐞𝐧𝐜𝐡𝐦𝐚𝐫𝐤𝐢𝐧𝐠 🚀   In today’s rapidly evolving digital landscape, the cost of funds remains a pivotal factor for lenders, but an equally critical metric—often making the difference between profit and loss—is the cost of customer acquisition (CAC). As digital strategies take precedence, understanding and refining the customer journey becomes not just beneficial, but essential.   ▶ 𝐖𝐡𝐚𝐭 𝐈𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞𝐬 𝐂𝐀𝐂 𝐢𝐧 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐋𝐞𝐧𝐝𝐢𝐧𝐠? Navigating the cost of acquisition requires a deep dive into customer journeys. Every touchpoint, from initial engagement through application processes like bureau pulls, PAN verifications, Aadhaar authentication, income tax returns and alternative data assessments influences both cost and customer experience. These interactions, facilitated through APIs, come at a price. Yet, the real challenge isn't just the expense but how these touchpoints affect customer perceptions and decisions.   ▶ 𝐖𝐡𝐞𝐧 𝐭𝐨 𝐒𝐚𝐲 𝐍𝐨? Determining the optimal point in the journey to make credit decisions—accept or reject—is crucial. It’s about balancing rigorous underwriting standards without compromising on user experience. This decision can drastically affect your CAC and customer retention rates.   ▶ 𝐁𝐞𝐧𝐜𝐡𝐦𝐚𝐫𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐄𝐱𝐜𝐞𝐥𝐥𝐞𝐧𝐜𝐞 For pioneers in the digital space, benchmarking product journeys (both front-end and back-end) is invaluable. Our recent webinar shed light on effective product management strategies that can enhance customer satisfaction and operational efficiency. Interested?   Check out the session to gain insights into industry best practices: https://lnkd.in/dqNp4fUv   At The Digital Fifth, we specialize in product benchmarking services that cater to entities focused on elevating their Customer Satisfaction Scores (CSAT).   Interested in enhancing your digital lending journey? Connect with us to explore how our expertise can help you build personalized, efficient, and cost-effective customer experiences. 🔗 Contact Us: https://lnkd.in/dPkV9EHn   Transform your digital strategies into customer-centric triumphs. Let’s redefine what’s possible in digital lending together.   Sameer Singh Jaini | Shashank Shekhar | Vikrant Kulkarni | Deepak Sai   #DigitalLending #Fintech #CustomerExperience #ProductManagement #Benchmarking #FinancialServices #Innovation #CustomerJourney #Lending #product #digital #strategy #customer #acquisition

🚀 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐢𝐧𝐠 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐋𝐞𝐧𝐝𝐢𝐧𝐠: 𝐓𝐡𝐞 𝐀𝐫𝐭 𝐨𝐟 𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐉𝐨𝐮𝐫𝐧𝐞𝐲 𝐁𝐞𝐧𝐜𝐡𝐦𝐚𝐫𝐤𝐢𝐧𝐠 🚀   In today’s rapidly evolving digital landscape, the cost of funds remains a pivotal factor for lenders, but an equally critical metric—often making the difference between profit and loss—is the cost of customer acquisition (CAC). As digital strategies take precedence, understanding and refining the customer journey becomes not just beneficial, but essential.   ▶ 𝐖𝐡𝐚𝐭 𝐈𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞𝐬 𝐂𝐀𝐂 𝐢𝐧 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐋𝐞𝐧𝐝𝐢𝐧𝐠? Navigating the cost of acquisition requires a deep dive into customer journeys. Every touchpoint, from initial engagement through application processes like bureau pulls, PAN verifications, Aadhaar authentication, income tax returns and alternative data assessments influences both cost and customer experience. These interactions, facilitated through APIs, come at a price. Yet, the real challenge isn't just the expense but how these touchpoints affect customer perceptions and decisions.   ▶ 𝐖𝐡𝐞𝐧 𝐭𝐨 𝐒𝐚𝐲 𝐍𝐨? Determining the optimal point in the journey to make credit decisions—accept or reject—is crucial. It’s about balancing rigorous underwriting standards without compromising on user experience. This decision can drastically affect your CAC and customer retention rates.   ▶ 𝐁𝐞𝐧𝐜𝐡𝐦𝐚𝐫𝐤𝐢𝐧𝐠 𝐟𝐨𝐫 𝐄𝐱𝐜𝐞𝐥𝐥𝐞𝐧𝐜𝐞 For pioneers in the digital space, benchmarking product journeys (both front-end and back-end) is invaluable. Our recent webinar shed light on effective product management strategies that can enhance customer satisfaction and operational efficiency. Interested?   Check out the session to gain insights into industry best practices: https://lnkd.in/dqNp4fUv   At The Digital Fifth, we specialize in product benchmarking services that cater to entities focused on elevating their Customer Satisfaction Scores (CSAT).   Interested in enhancing your digital lending journey? Connect with us to explore how our expertise can help you build personalized, efficient, and cost-effective customer experiences. 🔗 Contact Us: https://lnkd.in/dPkV9EHn   Transform your digital strategies into customer-centric triumphs. Let’s redefine what’s possible in digital lending together.   Sameer Singh Jaini | Shashank Shekhar | Sreekant Rudrabhatla | Vikrant Kulkarni | Deepak Sai   #DigitalLending #Fintech #CustomerExperience #ProductManagement #Benchmarking #FinancialServices #Innovation #CustomerJourney #Lending #product #digital #strategy #customer #acquisition

Discover the four pivotal reasons why loyalty programs are indispensable in the FinTech industry. Dive into our latest post to explore how these programs drive customer engagement, retention, and revenue in the dynamic world of financial technology. #FinTech #LoyaltyPrograms #CustomerEngagement #CustomerRetention #uLoyal

Quality over Quantity: In the world of Fintech, the mantra "quality over quantity" rings truer than ever, especially in the realm of Customer Care. While metrics like First Response Time (FRT) may seem indicative of efficiency, they can be misleading if not accompanied by a commitment to quality service delivery. Here's why quality should always take precedence over quantity in a Fintech customer care environment: 1. Trust and Reputation ®️: In Fintech, where trust is paramount, every customer interaction is an opportunity to reinforce trust and build reputation. Quality service, characterized by empathy, accuracy, and timeliness, fosters trust and confidence in your brand, setting you apart from competitors and attracting loyal customers. 2. Complexity of Issues 💱: Fintech products and services often involve intricate financial matters, requiring careful attention to detail and expert knowledge. Rushing through interactions to meet quantity targets can lead to oversights and errors, potentially harming customers' financial well-being and damaging your reputation. 3. Long-Term Value ⏳: Achieving high volumes of customer interactions may seem impressive, the true measure of success lies in the long-term value generated from each interaction. Quality interactions, where customers feel heard, supported, and valued, lead to increased customer satisfaction, loyalty, and lifetime value. And see in the hashtags which Fintech company has both speedy FRTs and high Quality of assistance... 😉 The pitfalls of focusing solely on FRT (First Response Time): 1. CX (Customer Experience) : While a low FRT may suggest quick responsiveness, it means little if customers are left waiting for days on end for resolution. Customers value promptness, but they value effective resolution and meaningful support even more. Prioritizing speed over quality can result in frustrated, dissatisfied customers who may seek alternatives. 2. Misaligned Priorities : Setting unrealistic targets for FRT may incentivize agents to prioritize quantity over quality. This can lead to subpar service delivery, increased errors, and ultimately, diminished customer satisfaction and retention. Should Fintech companies prioritize quality over quantity in their customer care efforts? 🤔 By focusing on delivering excellence, fostering trust, and providing meaningful support, Fintech companies can differentiate themselves in a competitive market and build long-lasting relationships with their customers. In the race for customer satisfaction, quality always wins. 😉🏁💼✨ #Fintech #CustomerCare #FRT #QEs #CX #QualityOverQuantity #CARE #LinkedInPost #bpo #contactcentre #Finom #CustomerExperience #issueresolution #learn

🚀 Embracing bold ideas and crafting them around our customers' needs—that's the FinTech way! 💡 We champion bold experimentation, but our true north is always customer satisfaction. Innovation isn't just about tech, it's about making finance work for everyone. What's your top tip for keeping customers at the heart of innovation? Drop a comment! 🎯 #FinTechForward #InnovationNation #CustomerCentric #CustomerIsKing

Mark Oppermann (Webio CRO & CMO) joined a panel this morning at the Credit-Connect's Online Collections Think Tank where the participants shared their expertise on "Customer Engagement and Collections Challenges - Measurement of Collections Risks. What are the challenges?". Here are some of the highlights: As digital communication technology is becoming more advanced and businesses are adopting it, there are huge changes in how businesses engage with their customers. ✔ Integrated Communication Channels: There is a shift towards using a variety of communication channels beyond traditional phone calls. And there's an emphasis on the importance of linking these channels to avoid customer frustration from having to repeat information. This approach aims to cater to customer preferences for digital resolutions while ensuring they don't feel stranded if they need to switch channels. ✔Digital and Self-Service Blend: There is a need for a balanced approach between digital self-service and human interaction. While digital channels offer efficiency and cost-effectiveness, the human touch provided by phone calls or agent interactions offers comfort and reassurance. This balance ensures that customer experience is not compromised in the pursuit of operational efficiency. ✔Customer-Centric Digital Transition: Compnaies need a customer-focused approach to digital transformation. Organisations are encouraged to consider the customer's journey and preferences actively, ensuring digital pathways include clear exits to human agent assistance. This approach is about enhancing the customer experience rather than forcing a digital-only route. ✔Agent Role Evolution and Support: The role of customer service agents is evolving beyond traditional expectations. There's a push towards empowering agents with digital tools and analytics to better serve customers, reflecting a shift towards more complex and advisory roles. This evolution is also tied to improving the recruitment appeal for these positions and acknowledging the emotional and strategic value agents bring to customer engagement. ✔Data-Driven Insights and Personalisation: Businesses are using analytics and data to understand customer preferences and behaviour. This insight allows businesses to tailor their communication channels and customer journeys more effectively. Mark was joined by Neil Costello from Lowell, Ajay Mitha from Interbridge Mortgages and Jodie Trodd (CIMA/CGMA) from Intrum and the panel was hosted by Hosted by Chris Warburton #CollectionsTechTT #customerengagement #conversationalai #collections #credit

10 innovative FinTech business models Today I decided to share the FinTech business models that represent critical avenues for growth and differentiation. Each of the models I will demonstrate addresses specific pain points within the financial ecosystem. These models improve customer engagement, and help companies stay ahead of the curve. #FinTechBusinessModels #FinTechInnovations #BusinessGrowth

🚀 It is all about client satisfaction ... In my #entrepreneurialjourney, I've always been a data enthusiast, relying on analysis to drive informed decisions. When I first ventured into entrepreneurship, I crafted a sophisticated #OKRs #dashboard — a blend of multiple indicators that I regularly updated to gauge my business's pulse and pinpoint areas for improvement. After nearly three years, I made a bold decision — I bid farewell to the dashboard. Why? Because amidst the complexity, there's one #OKR that stands supreme, demanding my undivided attention: #Client #Satisfaction. Placing client needs at the core and steering the strategy toward delivering a personalized, top-notch service—imbued with empathy and a profound understanding of their environment—transformed the business landscape. In this context, where common sense and good practices harmonize with client-centricity, the myriad metrics monitored by OKRs became secondary. It's about seamlessly going above and beyond the initial problem scope and creating an experience where access to #photonics technologies feels not just like a service but like a friendly stroll. At Far Photonics client satisfaction isn't just a metric; it's our DNA core. 🌟✨ #ClientSatisfaction #BusinessJourney