From Bank Charges to FINTECH. How Absence of Support Led to Revolution in Banking.

 

From Bank Charges to FINTECH. How Absence of Support Led to Revolution in Banking.

The commercial banks have tried when it comes to serving the larger population of the African market segments. Retail and corporate banking are the 2 biggest areas covered by the big names in Nigerian Banking Industries.

People want more than just banking. They need experience. And they need where they can keep their money for safety.

A bank is defined in the study of commerce and or business study as a place where money is kept for safety. So how come are they now charging customers arbitrarily without descriptions?

The charges that many customers encountered over the years are exorbitant. Some must let go of it because they are too busy to be coming into the banking and feel no need to start public drama. And how about the elderly whose account got charged for no good reason or evidence but couldn’t have access to the physical banking hall?

What is the government doing about all these deductions? And how about failed transactions?

The solutions to issues we are facing are what brought about FINTECH. And much is expected from them in the areas of accountability. We need a FINTECH whereby when we deposit N1,000 that same amount should remain there till the following day and even one week. They should not turn it into 3 figures as in N898 or N898.01k

Any debit or deductions must be fully explained. Customers deserve to be educated.

For the fact that most FINTECH are running an online space. They are strongly urged to stay close to their customers 24/7. They should be found when needed across all social media handles. This is where quality support comes into play. Your customer support should not act robot by copying and pasting out-of-point answers to clients’ queries or inquiries.

The business of FINTECH with the public is a business of money. A client that is doing business with you would like it when you respond faster to queries and they would feel bad when neglected. Being neglected they could even feel you have shut down and operations and that you have gone away with their money. So, you need to stay in touch with your clients and ensure your mobile app has enhanced functionality that customers can play around with and get the perfect online banking experience using their devices.

FINTECH has a higher chance of changing the business outlook in this country. Only if they are going to put the people first and take customers’ feedback as a product-led function for overall NPS.