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control by creating better services with fewer barriers to accessing their finances . It ’ s an unfortunate fact of modern life that we often have no option but to trade our privacy , for greater convenience .
Yet , despite the perception created during the 2008 financial crisis , today ’ s financial institutions really are trying to put the wellbeing of customers at the centre of everything . In fact , during a conversation called ' Unpacking the Futuristic World of Biometric Payments , Virtual Cards & Robot Bankers ', Axel Cateland , Head of Banking at Spendesk , revealed that Spendesk has spearheaded a campaign to give virtual cards to " employees so that , while incurring expenses on the job , they never need to be out of pocket . It is a noble cause when emphasis on employee welfare has become such a major component of retaining staff in all sectors .
But that isn ’ t all . The entire basis of virtual banking , biometric payments and AI is intended to make the experience quicker and more seamless , for the end user . And it ’ s working . As Will Sorby , Director of Product , Financial Empowerment at N26 states , through use of AI “ 80 % of the time we have an accurate understanding of what a customer is looking for just by what they type into the app for their first question ”. As with many financial service providers , the ultimate goal is to help customers navigate their complicated financial lives as easily as possible .
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