It is generally calculated that businesses must spend between four and ten times more to acquire a new customer than to keep an existing one . With that in mind, we would like to share several strategies risk departments can employ to help deliver a strong customer experience, an important component of customer loyalty.
We were interested in the P2P payment startup Cookies for quite a while now. When we met co-founder Lamine Cheloufi at the Pioneers Festival 2016 in Vienna, it was about time for an interview.
At the Pioneers Festival 2016 in Vienna, we met Maximilian Tayenthal of the rapidly growing mobile banking startup NUMBER26 and talked to him about the evolution in finance and what it means for their business.
We interviewed Raj Singh and Jürgen Hütter from online lender Avant about the reasons alternative lenders gain ground, why the US offers better prerequisites for the business and what the bank of the future will look like.
In London, we had the pleasure to meet with Co-founder and CEO Matiss Ansviesulis and PR-Specialist Viktorija Gorcakovaite from Creamfinance.
We talked to Michael Mellinghoff, Managing Director at TechFluence. Being a longtime banking professional with several years of experience with FinTech startups, we asked him about some of the key questions in the industry at the moment.
Teun von den Dries talked to us about his company GeoPhy and the role of fintechs in the finance sector.
Tel Aviv based startups App Dome offers what they described to us as “Security as a Service”.
We met a part of the Scalable Capital team in London: Adam French (Founder and UK Managing Director), Dr. Manuela Rabener, (Global CMO) and Marianne Slamich (PR specialist).
Thomas Joykutty, working at the London office of Deloitte Digital, was part of the “Grid” team at Fintech Connect Live. We talked to him about their project, the terms fintech and insuretech and tried to take a look into the crystal ball.
New technologies have shown to be a driving force behind new business cases. Most of the time, however, banks are not really pioneers regarding these kind of changes. New providers keep pushing into traditional business areas and use innovative technologies to generate additional value for the customers. Particularly the past year needs to be viewed as a wake-up-call for the banking sector to push its efforts in the digital sector. How can banks react to challenges posed by new competitors like Apple Pay? Taking a look at other industries reveals a lot of opportunities apart from the risks. To use these opportunities, banks need to adjust their strategies smart and consistently.
The finance sector is increasingly affected by the presence of fintechs. But many of these finance start-ups do not really reinvent the banking business. What they do is adjusting it in a way that the customers can make better use of it. Berlin fintech company Bergfürst offers shares of young and growing companies to private investors and offers real estate investments since 2014.
The virtual world created certain new customs. Decision-making is heavily influenced by the digitalization and this is, of course, also true for bank marketing. Customers inform themselves online, exchange opinions in the social networks and post online ratings. What used to be personal correspondence is now anonymous convenience in the world wide web. This online society calls for a new understanding of marketing and the way of dealing with the customer.
BUSINESS CASES Co-Creation - this is the term by which the Consorsbank treads new paths in the retail business: They involve their customers in the development of products and services. Thereby, modern means of communication like Social Media and communities play increasingly important roles in the individual client business. Initial exerience has shown that the customers happily accept the opportunity to make a contribution, which makes the concept a significant step towards the future of banking.