BANKING
46 the ‘ app economy ’, mean that banks and fintechs must now focus on selling experiences .
Elaborating on this , Harper explained the importance of cutting through the noise to focus on the fundamental , basic elements of what makes a good personalised banking solution . “ We ’ re trying to increase customer engagement ,” he said , “ but we ’ re also conscious of making sure it ’ s the right engagement . If you look outside of finance , Apple is a great example of a brand that ’ s done just that : it absolutely ensured that the fundamentals were right by simplifying everything , creating a really intuitive and easy to understand user experience and then building all of those very personal experiences and interfaces on top of that foundation . Similarly , if you look at the likes of Facebook , Amazon or Uber , they ’ re really showing how you can create loyalty and engagement just by getting the customer experience right – that ’ s what banks should be aiming for .”
For Harper , an effective personalised experience must be based on a firm understanding of exactly what each consumer needs in order to get the most from their interaction with a technology or service . Since its founding in 2009 , Meniga has created digital services , platforms and apps for major banks including UOB , Santander , Tangerine and more in 30 countries worldwide , improving the digital banking experience for more than 60 million end customers . The effective use of data lies at the heart of this success , with the company ’ s host of services
JANUARY 2020