FinTechNomad’s Post

The Financial Conduct Authority has made it very clear on how firms should ideally treat its retail customers 👨👩👧👦. The Consumer Duty will likely dictate how both incumbent institutions and FinTechs go about with Product Design, Partnerships, Pricing and more. Stay tuned for more blog posts around these topics! 📚 In the meantime, here's a 4 min read on the basics of the Consumer Duty: https://lnkd.in/erfAVauE #FinTechNomad #FinTech #FinancialRegulation #FCA #Compliance #ConsumerDuty #Finance #Money #Investing

In today's complex business landscape, precise and transparent financial records are essential. Payment reconciliation, a critical yet often overlooked task, ensures every dollar is accurately accounted for. By meticulously aligning sales transactions with bank statements, businesses can uncover discrepancies, prevent fraud, and ensure regulatory compliance. I shared the role of payment reconciliation with PaymentsJournal, and our solutions offer real-time transaction matching and advanced analytics, making reconciliation efficient and accurate. To thrive, businesses must prioritize robust reconciliation systems. Read my full insights on Payment Journal here: https://bit.ly/4foNaWZ #FinancialIntegrity #PaymentReconciliation #BusinessFinance #Automation #Growth

How can you get the balance between automated and personalised service right?⚖️🤔 There's now an expectation for financial providers to connect personally with the consumer, creating an experience, not just a transaction...🤝 Read more⬇️ https://lnkd.in/eEYV6tpR

The Consumer Duty regulations are reshaping expectations for financial services, and here’s how your contact centre can not only meet but exceed them. (Why this matters...) The financial industry is rapidly evolving, and with these latest regulatory changes, adapting and innovating is more crucial than ever. But what exactly does this mean for your contact centre? ✅ Improved Customer Trust - Aligning your operations with the Consumer Duty boosts transparency and trust, essential ingredients for customer loyalty. ✅ Enhanced Service Quality - Create new strategies that can elevate your service, turning every customer interaction into an opportunity for growth. ✅ Competitive Advantage - Stay ahead of the curve by adopting practices that differentiate your services in a crowded market. 👉 Learn more in our latest blog post: https://loom.ly/okOe7xI #FinancialServices #CustomerExperience #ContactCentre #ConsumerDuty

Are manual updates and delayed rate changes slowing down your payment processing operations? Interchange rate assignment can be complex, but it doesn’t have to be. Explore how automated systems can help streamline your rate updates and keep your business running smoothly. Let's connect to discuss solutions that will enhance your efficiency and accuracy! Ready to optimize your interchange rate process? Connect with us to learn more: sales@verinite.com #PaymentsInnovation #InterchangeRates #FintechSolutions #DigitalPayments #PaymentProcessing #BankingInnovation #Compliance

Given that consumers are more likely to abandon their #credit applications if their experience is friction-filled, financial institutions must simplify and streamline their processes. Read this blog post to learn how.

Explore how payment optimization is critical for #subscription success in this commissioned study conducted by Forrester Consulting on behalf of Recurly, offering key insights on the impact of #payment failures on subscriber #churn and growth. Discover insights and practical advice to help you build a more resilient, subscriber-centric payment experience capable of scaling as dynamically as your market does. Download the study now: 🔗 https://lnkd.in/gNgRWBj5 #KeepAGoodThingGrowing®️

Is manual data collection slowing you down? 🐌 Collecting financial data manually isn't just time-consuming—it’s a barrier to efficiency, accuracy, and customer satisfaction in the lending process. 📉 We built Assess to help simplify the way you collect and review financial data; 📂 No more paperwork: Say goodbye to manual submissions and the hassle of chasing documents. 📊 Automated data insights: Gain instant access to comprehensive customer data through a secure and seamless process. ⚡ Faster, smarter decisions: Focus on making informed lending decisions, not on gathering information. Ready to eliminate manual data collection and transform your workflow? Click here to see how Assess can improve your process 👉 https://hubs.ly/Q02CNmr-0 #Lending #OpenBanking

In the finance domain, RAG chatbots can help with account inquiries, transaction tracking, and bill payments. They can also provide financial advice and investment guidance. By automating these tasks, financial institutions can reduce the workload of their customer support teams and improve customer engagement.