The Disruptive Force of Finchat

by | 9 Apr 2021 | Content & Experience

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The way that consumers handle finances is undergoing a seismic shift. Physical totems of the finance sector – high street branches, paper correspondence, even coins and notes – are declining in usage.

Instead, finance management is increasingly digital.

Today’s consumers are accessing and engaging with their finances online – be it through a website, an app, a messaging channel, or a blend of web-based services.

The consumer message is clear: quick, convenient clicks on a screen trump traditional interactions and all the effort they entail.

It is against this backdrop that fintech is soaring. As customers of financial services (FS) demand digital options, FS brands must meet their needs adequately.

And this, in part, means digitised customer service, accessible from any portal at any time.

Enter intelligent ‘finchat’ options.

The live chat explosion

Consumer appetite for chat is something of a communication phenomenon. Over the past decade, chat has risen up from the ranks as a non-traditional customer service channel, to rival and often even outrank telephone and email.

For today’s online customer, accessibility is golden, and convenience is key. Consumers are used to immediacy as they communicate and access information. In an era of availability, anything that consumers are looking for can be found at the touch of a screen or the click of a button.

This real-time revolution has had a profound impact on customer expectations. Namely, customers demand quick, easy support in the channel of their choice. In a move away from the telephone, customers want the option of quick-fire digital interactions that fit into modern lifestyles.

It is live chat that answers the heightened customer service call for instant online connectivity. Today, live chat is not only accepted by customers, but increasingly demanded.

Simply, chat is the quickest, easiest and most efficient way for customers to communicate with businesses in the digital age.

And financial institutions are now taking note of this fact, too.

Introducing finchat

Finchat: Financial services chat. The most advanced of which is steeped in conversational AI and able to integrate into a broader technology ecosystem.

So, consumers are handling finances online. Meanwhile, consumer demand for chat has never been higher. This makes incorporating real-time web support more an imperative than an elective for today’s FS brands.

The patently opportune nature of chat is especially true in light of recent innovations. Now, chat is a central fintech focus area. Chat technology is currently undergoing major transformative development progress. Indeed, the latest live chat software entering the market is capable of more than ever before possible.

No longer is chat a standalone contact channel. A broad finchat ecosystem is emerging – one that blends bots, messaging platforms, AI, omnichannel conversations, and a mix of open APIs together with conventional live chat channels.

Financial services chat – or finchat – is ever smarter, ever more cost-effective, ever more lucrative. Chat technologists are converging to offer a disruptive new engine for digital conversations.
While chat is valuable, cutting-edge finchat is proving invaluable to the competitive FS brand.

To continue reading, please download the full WhosOn white paper in PDF format: Resource – WhosOn finchat disruption white paper.


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