How embedded finance improves CX: Josh Karpen

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4,425 followers

6mo

Embedded finance enables better CX. Our Director of Strategy, Josh Karpen, shares his thoughts on how it seamlessly integrates financial services into the customer experience. While often focused on the customer experience, embedded finance also streamlines back-end operations. Learn more here: https://hubs.li/Q02Nsw3j0

Transcript

If you could recommend three things that a company should focus on in order to bring a successful Financial service Oregon product to market, what would they be? I think the number one thing is their customer. Consumers today have more options than ever before to choose between financial services providers. And what's unique about embedded finance is the synergies between the financial service and your brand create unique value propositions. So focusing on who are your customers, what is their experience today and what are their expectations from the brand allows us to think holistically about what customer value we're delivering. And in what form that value is being delivered? I think #2 related to that is the user experience. You want it to feel like it's your brand. You don't want it to feel like this is an entirely new journey for them to go through. And so thinking about their expectation and their needs and how those are evolving and the user experience that we're providing to deliver the financial service is key to see the right adoption and the right activity that we're expecting in these programs. And lastly is a little bit forward thinking, but it's about the product road map. Consumer preferences and expectations. Expectations are are changing frequently. And so how are we thinking about what's to come so that we can make sure that we can keep the product relevant and keep delivering the value that we focused on in kind of our key pillar of #1 focus on the customer value. Because the last thing we want is to deliver a product in market that crushes it for three years and then all of a sudden our customers are expecting. XYZ and we can't deliver. And so working with a tech forward provider and an innovator in the space allows you to keep the foot on the gas, on the kind of cutting edge of innovation to make sure that if there's new technology or if consumer preferences change, you're able to provide those services and keep those customers and continue to deliver value, not only today, but as your consumers evolve and as your brand continues to evolve. In the future.

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