Personalized offers, financing loans, insurance, seamless payment, and preferred payment mode were key features that came out as top priorities for customers.
A new study from Decta has highlighted the importance of integrated financial services in today’s fintech world. As online shopping and digital payments become the norm, the study has identified some key elements for a seamless customer experience.
Integrated Finance is a new type of software distribution that works with financial infrastructure providers to integrate financial services into existing product ecosystems. Consolidated financial offerings include banks, loans, insurance, payday, and credit cards with brands.
According to studies, fast payment and access to selected payment options are the most important factors for satisfying online shopping. Lack of payment options or conflicts during the checkout process is the main reason for a poor shopping experience, with nearly 49% of respondents saying they would stop buying if they encounter these problems.
Personalized gifts have become one of the main features of the added bonus, which is valued and can be improved by focusing on different demographics. For example, 54% of Americans prefer additional benefits such as premiums and insurance. Gen X participants were more satisfied with personal gifts, while Gen Z and Baby Boomer participants reported lower levels of personal gift-giving.
Refundable payments, frictionless payments, and one-page payments are other favorite built-in features that received the support of respondents. As the crypto industry is slowly trying to get involved in financial services, whether it is a credit card or a crypto-based loan, the study provides insight into targeting and acquiring customers.
Crypto companies have explored loyalty rewards and helped businesses integrate this integrated financial service using blockchain. The cryptocurrency ecosystem saw an influx of institutional investors during the last bull market. Some of the top Fortune 500 companies and traditional hedge funds have jumped on the crypto bandwagon, providing insight into mainstream crypto adoption.
However, there is still a long way to go toward the main goal of making crypto a daily driver for traders. Additional financial studies can help crypto companies gain inspiration from key factors and implement them in crypto-related products to deliver a better customer experience.
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