FINSERV
“ Customers now want everything at their fingertips , instant service , fresh new apps that have innovative values and go beyond the traditional offering .
“ Klarna is a great example of an exciting fintech that revolutionised the market through the offering of instant credit that the traditional banks couldn ’ t at an appealing point in the customer ’ s purchase journey .”
Marwick adds that established companies relying on legacy systems are falling behind in comparison to the new generation of finserv companies . “ This type of innovation is why some incumbents are now losing out to new fintechs that are offering quick and easily accessible products meaning the only choice they have is to entertain new market entrants .”
A focus on security and data With cyber-attacks and fraud crimes on the rise , companies can also differentiate
“ Customers now want everything at their fingertips , instant service , fresh new apps that have innovative values and go beyond the traditional offering ”
themselves by making the customer feel safe . This assurance must be rooted in customercentric services so that even if additional levels of security are required , processes are still swift and simple for the user .
Lamers says companies need to consider adopting a ‘ security-by-design ’ approach ,