As far as the financial industry is considered, it stands at the cross roads of the next era of digitalization as major technological advancements are waiting to get recognized. Financial industry has donned a whole new face today and the financial customer are leaning more and more towards mobile technology as it is the Reigning King nowadays.
Let’s have a more insightful look at the things that are prompting the financial customers to go mobile.
- 24x7 Trading
With Mobile, the financial market is at their fingertips and the ventures related to financial services are more accessible and prompt as ever. Customers no longer have to dedicate a whole day to complete their financial assignments, instead with mobile it can fit into their existing lifestyle with ease.
- Growing Landscapes of the financial Industry
The financial customers nowadays use e-wallets and other electronic mediums through their phones for money transfer, exchange and m-commerce. This by far has played a great role in providing new vistas to the financial industry.
Looking at this trend, the upcoming financial companies are cashing on the opportunity and simplifying online and electronic transactions. Thus, the financial customers will have broader choices and massive money related subjects can be completed just at a tap.
As the adoption in still in its infancy, the major concern is to educate the consumers and make them aware about the benefits and usage of these services.
Also Read: How Business Apps for Financial Sector are making a difference
- The Role of Big Data
Thus Big Data becomes crucial in this scenario and looking at its upward surge, a whopping 64% of the companies have started to invest in Big Data and enhance their analytical strategies. Therefore, it is important for the financial customers to understand this aspect in-depth as 2016 is spoken off to be the year of major implementation of Big Data.
This value based financial driving strategy is gaining ground and deep links with this technology can show optimum and radical results for the organization.
- Accrediting Accuracy
The contemporary data and research allows the customers to make considerate decision thus reducing the risk factor completely. The statistics involved are the result of hours of research work thus is bound to prove invaluable. This will result in increased financial trading success, increase profit and improved customer satisfaction.
From the expert’s perspective, social media engagement and analysis is a big probe in providing quick engagement with the customers. The integration of financial services with social media platforms provides quick and effective feedback to the customer, respond to their queries and give information according to that.
Social media has added the competitiveness, but has also provided advantage to the financial sector to provide better customer service that result in enhanced investments. Financial customers also look forward to the social media integration with the financial services, as it allows them to express their views and suggestion about their experience.
- Future of Financial Technology
Their ubiquitous framework helps the customers to concentrate on fragmenting the market instead of consolidating it.
Also Read: The Dawn of Next-Generation Mobile Banking – What You Need to Know
Mobile technology having empowered most of the fields of businesses is still taking baby steps in the financial industry. But, the inception of them has been so wonderful that the financial customers are more than happy to choose them over the traditional methods
Customers are really happy with the value based service, multichannel reach and the researched insights that mobile technology provides within the financial services. Therefore, both the financial customers and the organizations are gradually shifting to mobile as more than the luxury it has become a necessity in this step on the edge completive business world.