Introduction
It is no secret that interactive finances within FinTech services have proven to be essential over the last few years spanning the FinTech Revolution. Not only do they tend to engage wider audiences but it also forces FinTech Companies and startups to come up with new and innovative ways to assure customer retention. In this week’s blog post we look at just how important interactive features within FinTech are, as well as what is in store for the near future.
Engages a wider audience
No matter the type of interactive feature, whether it be an AI chatbot, virtual rewards or personalised analytics, these are all done to ensure customer retention as these methods enable FinTech services to reach a broader audience. This highlights the importance of interactive features in the sense that it encourages all ages to engage with their finances and learn more about their expenditure habits in a more exciting way, promoting financial inclusion as well as a greater sense of financial literacy.
Adds greater appeal
Dealing with one’s finances can sometimes be viewed as a mundane task, however, with the addition of different interactive features that FinTech services have to offer, this changes everything and gives it a completely different outlook. Interactive services that include AI features as well as personalised analytics and savings tools tailored to the customers needs somewhat makes it a bit more appealing than dealing with traditional banking institutions where one may face long queues or rely on strict opening times to deal with any query.
The versatility of these features
As mentioned, by having a variety of interactive features focusing on different aspects, maximises companies reach in the sense that there is something for everyone to resonate with. Additionally due to the fact that FinTech services are wholly online, a good range of interactive features somewhat make up for the fact that there are no face to face interactions when dealing with customers queries or questions they might have about their accounts and financial worries. Having said this, interactive tools within FinTech services therefore provide a platform where customers can be met in an alternate way.
What the future holds
From looking into the possible effect interactive features have within the FinTech sector, it is apparent that they are of great importance. Even Though FinTech services are not in a position to completely replace traditional banking institutions, they are definitely becoming more appealing and this is mainly due to the interactive features they have to offer.
