Fintechs are one of the fastest growing sectors in the financial industry mainly due to the increased need for accessible, on the go, cheap banking services. Offering a range of new financial services, these companies are receiving huge investments but now need to find a way to stand out from competition: could face-to-face be the best door to customer acquisition?
As new technologies arise, every sector in the economy is changing and the banking sector is no exception to the rule: From physical branches to mobile apps, the way we do banking is evolving but one thing remains the same, the value customers give to a tailored and personalized service. Research done by TimeTrade shows that 27% of customers still visit their local banking branch twice a month and only 6% didn’t visit their local branch last year. Furthermore, 71% of customers feel they have a personalized experience when visiting their bank. Therefore, how will fintech companies solely based on digital interaction solve this lack of physical presence?
The most difficult thing for an app based company when starting off is client acquisition: without impulse there is little motivation for someone to download the app and no guarantees they will become a regular user. Furthermore, Silicon Valley analyst Andrew Chen attests that “the average app loses 77 percent of its users in the three days after they install it. After a month, 90 percent of users eventually stop using the app, and by the 90-day mark, only 5 percent of users continue using a given app.”
That’s where Acwyre comes in, with a staff of 20 + years’ experience in F2F and a successful record of working with app based companies, we guarantee a strong ROI and help explain what you do directly to the people who need it the most: your customers. Recently, Verint Inc. has released a study showing that “consumers who prefer to do business through digital channels are more likely to swap providers than those engaged through personal interactions […]. In other words, a more personal touch in customer service helps to drive retention and loyalty.”
While the reach of digital marketing is significant it’s impact will never be as strong as F2F: building relationships with your customers through human interaction and a personalised service. Get in touch with us today to see how we can help your brand reach its potential customer base.
 Definition: Understand when technology is applied to financial services or used to help companies manage the financial aspects of their business, including new software and applications, processes and business models.