How to Create a Seamless Customer Experience in Fintech Today

The most crucial aspect of any product or service, regardless of the industry, is customer experience. Nowadays, having a positive customer experience (CX) can make or break a startup, and even well-established companies can fall victim to poor CX.

By Medb Kiely-Cuddy · Author at Blockmate.io

Myspace is an example of this, losing to Facebook in part due to its cluttered and disorganized interface with too many ads. As a result, users desired a social media platform that provided tailored content in an easy-to-use format, leading to Myspace losing almost 50% of its customer base in 2010.

With 97% of websites failing to provide a satisfactory user experience, it’s crucial to stand out from the competition. To create a super app, you must provide clients with a streamlined and valuable user experience, including an onboarding process that is hardly noticeable. By doing so, you can differentiate yourself from the competition and offer customers a seamless experience that eliminates the need for any other app.

Super Apps

The key to success in any industry is to offer a customer experience that exceeds their expectations. WhatsApp became the leading messaging app because it was inexpensive and easy to use. It could be installed on any platform in seconds and was connected using only a phone number. With over 2 billion users, WhatsApp has become the go-to app for messaging for many people worldwide.

Spotify, launched in 2006, has gained a reputation as one of the most popular music streaming apps in just a few years. With over 170 million users, Spotify uses a simple “freemium” model that lets users discover new music tailored to their tastes through complex data collection. The app is incredibly easy to use, and songs play within 285 milliseconds. The human brain perceives anything shorter than 250 milliseconds as instantaneous, making the Spotify experience seamless for its users.

Google Search has proven to be the ultimate search engine; after all, how often do you hear people telling others to “just google it?” It’s the most widely used search engine globally and handles more than 3.5 billion searches per day. With a 92% market share, Google provides tailored, high-quality search results for almost any query with little visual noise. The website integrates advertisements into its design seamlessly and can return millions of results in just 190 milliseconds.

The common thread in these successful apps is that they offer an unmatched customer experience, providing users with everything they need at their fingertips in seemingly no time at all.

So how do you create this in the fintech industry?

Creating a next-gen fintech app

For a fintech super app, you need to meet the customer at every point in their journey. Instead of pain points, you need touch points. And it all needs to be done in an intuitive and streamlined way. Any financial product the customer might want needs to be provided, This includes personal finance services, wealth portfolio management, and financial screening, all while being AML (Anti Money Laundering) and CFT compliant and, most importantly, quick and easy to use.

For traditional finance, you can integrate open banking APIs like Plaid or Nordigen into your app to offer these services. However, to really capture every need of your customers, you’ll need to integrate Web3 options too.

With over 320 million people using cryptocurrencies worldwide, it just makes sense to cater to this huge market by offering services for both conventional and digital assets. On average, crypto users have more than three crypto wallets and tons of different crypto apps. And when you add in all the traditional financial accounts and apps they have, it can be a real headache for your clients. Onboarding users needs to be a pain-free process for both you and your users.

If you want to stand out in a crowded market, offering your customers a service that connects all their assets and accounts seamlessly in one app gives you an edge.

Next, you need to be fast. In today’s internet age, attention is a limited resource. If a mobile website page takes more than three seconds to load, over half of the users will leave. To successfully integrate crypto options and onboard new clients, the process needs to be straightforward, quick, and efficient. That’s where our API comes in. It can link your users’ Web3 wallets and accounts to your platform in mere moments.

Adding Web3 options to your services can significantly boost your user base and increase profits. For example, after introducing cryptocurrency options in 2018, Revolut acquired over 6.5 million new customers in a year. And the good news is, it doesn’t have to be a regulatory nightmare with weeks of coding.

With Blockmate’s API, you can seamlessly integrate a wide variety of crypto services into your next-generation fintech app or platform. This will provide your customers with the speed and convenience they crave, ensuring you stay ahead in the game.

Blockmate: One API for every Web3 integration

What Blockmate adds to your toolkit:

Smooth onboarding: Our Blockmate Link feature allows your Web3 users to connect to your app instantly. You can integrate it into your app as a simple, customizable login widget, making the customer experience even smoother. In just a few clicks, you’ll be able to onboard Web3 users and start connecting them to your project with our hassle-free, no-code solution.

Detailed insights: With Blockmate Analytics, you can access a real-time breakdown of your user base and activity, including potential bot activity, core demographics, and transactions. This helps you tailor your product to your Web3 community perfectly. Our analytics dashboard shows you all the information you need to understand your users.

Compliance: Our API ensures that you remain compliant with AML and CFT regulations through risk scoring of transactions based on the sources of digital assets. We check your users’ funds against sanction lists and third-party databases to ensure that you can operate with peace of mind.

Financial screening: You can use our API to verify your crypto users’ identity, including KYT (Know Your Transaction) checks. Easily integrate Web3 screening processes into your user verification process in minutes.

NFT management: Our comprehensive suite of NFT management tools lets developers build a customized NFT management app or service. This includes tools to verify NFT holders’ identities and create a single portfolio to view and manage all types of NFT contracts.

Aggregated financial view: Through our API, you can access aggregated and categorized crypto data. This can be used for bookkeeping, accounting, financial overviews, as well as analytics. Our services let you offer your clients a full financial overview and deeper insights so they can make data-backed decisions for their future savings and spending.

Forget hours and days of writing code and aggregating data. With Blockmate, you can integrate Web3 services in minutes. Book a quick call today if you want to learn more about our API and what you can build using our tools.

The future of fintech

fintech companies that embrace a holistic view of finance can capitalize on a growing market of consumers who shop, spend, invest, and save in multiple ways. By providing your clients with a seamless and integrated experience that merges traditional finance, open banking, and Web3, you can build a super app that satisfies all their requirements.

To keep up with the rapidly-evolving world of finance, it’s essential to be quick and adaptable. This means embracing new financial technologies and innovations as they arise. By using APIs like Blockmate, you can effortlessly integrate Web3 services into your product and focus on creating a seamless customer experience for your users.

Blockmate. It’s how you integrate Web3 into your fintech app.

Happy Zapping!