This Is How Fintechs Add-Value To A Bank
Apurvaa Gaikwad
Project-focused Business Analyst with expertise in IT fintech and strong documentation skill
In the race of Fintech VS Banks. Here's how FinTechs add value to a bank and create a space of 'FRIENEMY' (a combination of two characters of friend and enemy at the same time)?
Innovative product offerings: Fintechs often focus on developing innovative financial products and services that are more convenient, user-friendly, and cost-effective than those offered by traditional banks. This can help banks to attract new customers and retain existing ones.
Enhanced customer experience: Fintechs can also help banks to improve the customer experience by providing intuitive and easy-to-use digital platforms that allow customers to easily manage their financial accounts, make payments, and access other financial services.
"Adaptability is not imitation. It means power of resistance and assimilation." - Mahatma Gandhi
Increased efficiency: Fintechs can also help banks to streamline their operations and reduce costs by implementing advanced technologies such as artificial intelligence, machine learning, and blockchain. This can help banks to increase their efficiency and competitiveness.
Risk management: Fintechs can also help banks to better manage risk by providing tools and technologies for analyzing and predicting potential risks. This can help banks to minimize losses and maximize profits.
Data analytics: fintech solutions help banks to gain insights into customer behavior and preferences by analyzing data from various sources, such as social media, mobile apps, and other digital platforms. This can help banks to tailor their products and services to better meet the needs of their customers.
Overall, fintech can help banks stay competitive and relevant in today's fast-paced and rapidly changing financial landscape.
Very informative. Thanks for sharing!
Interesting, Thanks for Sharing! ?? #JujiStudio
Overseas Educational Consultant
1 年Informative