What do customers expect from their banks in a digital age and how can financial institutions truly add value and strengthen their relationships with customers? In the latest episode of The Fintech Show, our UK Country Head Karen Wheeler discusses the challenges the banking industry faces in 2018:
“There has been continual change since 2008. GDPR, open banking, PSD2, Fintechs driving innovation and the likes of Amazon and Google entering the market have all created huge challenges. For the traditional bank players, there is great opportunity. They can build on their heritage and trusted status with customers and combine forces with Fintechs and companies like Affinion to develop innovative solutions and new capabilities.”
Karen discusses how loyalty and reward programmes have changed dramatically over the last couple of years and how banks can use data intelligently to develop products that create a real emotional connection with customers and ultimately drive loyalty and business.
Iain Kirkpatrick and Vernon Hill of Metrobank and Benoit Legrand from ING join the debate and share their views on how regulations such as GDPR and PSD2 are impacting them and how partnerships with Fintechs can bring mutual advantage to all.