For FinTechs and financial institutions (FIs), voice of customer (VoC) is more than just an amalgam of data insights — it is a pathway to better customer experiences for clients and consumer end users.
Gaining access to that data faster and more securely permits FIs and FinTechs to put those insights into practice more quickly, allowing them to intuit customer needs and transform insights from real-time data into new features and product improvements in anticipation of customer demand.
In Winning At VoC: Powering Exceptional Customer Experiences With Edge Cloud Technology, a PYMNTS and Fastly collaboration, we examine the strategies leading FinTechs and FIs employ to quickly access and optimize the value of their VoC data as a part of an overall customer experience strategy.
Truist, a community-focused FI formed in 2019, leverages edge cloud technology to achieve consistent product performance and gain swift access to customer insights. According to Ken Meyer, the company’s executive vice president and chief information officer for channel engineering and innovation, the company’s data-driven approach empowers it to pivot with agility as client demands change over time.
Stash aims to make personal finance management and investing simple for consumers through a user-friendly app. According to Gavin Grisamore, vice president of information security for Stash, the company understands that speed and security are critical for customer experience excellence, and both depend on fast, reliable data and data visibility. Stash, like many other leading FinTechs, uses secure edge cloud technology. “When working in the cloud, organizations must understand that the configuration is changing daily or sometimes hourly, and having visibility into configuration changes and possible exposures is vital,” stated Grisamore. That visibility, he said, is what helps FIs and FinTechs manage innovation in security.
Like many FinTech companies, Laurel Road, an online lending solutions provider knew that infrastructure modernization was a critical part of its customer experience strategy. Modernization means incorporating VoC insights into the very fabric of business operations. According to Arjun Sirrah, head of product engineering at Laurel Road, the most efficient way to modernize is to use existing infrastructures in tandem with edge cloud technologies to simplify innovation processes. Using edge cloud technology, financial services providers can save time as they plan, test and launch new products geared toward customer experience objectives.
As FinTechs and FIs reimagine their approach to customer experience, their access to data and their ability to implement changes based on customer needs evolves. In addition to greater visibility over data and faster response times to customer requests, companies seeking to implement changes based on new VoC insights need the ability to implement those rapidly and with consistency across networks. According to many leading FinTechs, using a robust technology such as edge cloud as the basis of their VoC efforts is a wise move.
To discover how leading companies are winning at VoC innovation, download the playbook.