Successfully adopting new technology is only part of the challenge organizations face in this time of disruption.
Understanding the full impact of how technology platforms are radically changing business models requires a broader, more holistic look at the buyer’s path to purchase and how Fintech allows financial services to follow them on that journey.
The rise of Fintech – financial service technology – is driving dozens of new start-up companies operating in what was once the exclusive domain of banks and insurance companies. Instead of banks providing lending, payment and insurance services, financial services start-ups and even e-commerce marketplaces and retailers are realizing they can integrate these financial services withing their own offerings to capture a share of the financial service revenue opportunity, simultaneously making it easier for customers to complete their buying journey.
Jerome Dwight, co-founder and director of SEEC’s new Centre of Excellence in Digital Finance and Fintech, illustrates the point this way: “as a customer, I don’t wake up and say, ‘I really want to get a terrific car loan’. Instead, I wake up saying, I really want to get that new Mustang. Financial services players need to rethink how they engage with their end-consumer in this manner – its an exciting time because Fintech provides the path to a richer more connected experience with the customer”.
In a new video interview, Dwight talks about the new program and why seeing the problem holistically is essential for businesses to succeed in the very near future.
The integration of payment/lending solutions with simple applications that allow people to order the products and services they want on their smartphone or tablet is the key trend that is disrupting traditional finance transactions.
To help companies and organizations take advantage of this disruption, SEEC has designed a new three-day program that not only explains what Fintech is but also how it is fuelling a revolution that presents new opportunities for partnerships and a larger client base.
The FinTech Revolution: Redefining Financial Services in the Age of Disruption (starting Nov. 4, 2020) is a new three-day program being delivered in the Virtual Classroom. For more information and to register, visit the program web page.