Consistent experience builds trust

Take this as a testimony of hard work and commitment to our mission to be the catalyst for financial inclusion and fintech adoption in emerging markets globally. Our parent company, MC Systems, serves customers in 26 different countries while wearing the hat of being the only Caribbean-based technology company to offer a core banking platform.  

MC Systems was also the recipient of a vanguard award for outstanding achievements in technology, fintech and cybersecurity. Then, it is safe to conclude that offering quality service pays off.

Having been in the regional fintech space for over 50 years, MC Systems is aware of the nuances associated with operating in the Caribbean. With the acquisition of the Phoenix International Core Banking System, their digital footprint was expanded to focus on reaching every last customer and providing financial education, thereby extending financial inclusion beyond borders. Ultimately, MC Systems believes that it is not only the accessible customer who should be reached but also the underbanked and unbanked.

Here are three ways your financial institution can create a banking experience that is exceptional and built on trust.

1. Work from the inside out

To establish a trustworthy and future-focused financial institution requires an internal system that can respond to the end user through highly efficient workflows. This, will in turn:

• Improve your internal processes to ensure your customers have consistent customer experience.
• Automate repetitive tasks to shift your business’ focus to innovation and creativity.
• Improve the capacity and education of your internal team by ensuring that everyone is aware of common processes.
• Create and implement human-centered designs to design workflows and iterate as the business grows and the customer’s needs shift.

2. Streamline the customer experience: Omni-Channel Banking

An efficient internal system has now been created; now what about the customers’ needs? How can your processes drive revenue and growth? One such way, particularly for the Caribbean and Latin American region, is an omni-channel banking experience. This is one recommended way to consolidate the banking process and ensure that a straightforward route is established for customers to access services.

With an omni-channel experience, the customer benefits from features including online scheduling of appointments to in-person onboarding and gains flexibility and a deeper understanding of the bank’s systems. This ensures that expectations are managed, giving customers the opportunity to tailor their experience to their lifestyle. Transitioning between offline and online channels without disruptions, uncertainty or confusion also gives the customer a sense of confidence, which can lead to an improvement in your ratings.

An established omni-channel process also simplifies the onboarding process through the synchronization of channels and provides a consistent experience that the customer can rely on and trust. For your financial institution, the outcome is a loyal customer and lifetime relationship that constantly delivers value.

Having a Caribbean-based fintech partner such as Phoenix International can help your financial institution create an omni-channel experience that is best suited for your financial institution, your country, and your customers.

3. Integrate solutions that improve safety and security.

Point-of-sale payments and digital wallets decrease the public’s reliance on cash as society moves towards safer, more convenient ways of spending. This provides a sense of security for both the customer and the merchant. While cash is convenient and accepted everywhere, it can restrict the customer’s experience when interacting with many products and services.

By integrating modern and convenient solutions, the unbanked, underbanked, and highly banked can join the financial ecosystem and benefit from various seamless experiences in their locale. However, this starts with their financial institution and the extent to which financial institution can provide tools to simplify their daily experiences.

Financial institutions are established as the caretakers of the customers’ funds and information; therefore, having an ironclad cybersecurity set up gives the customer a sense of peace knowing that their information and funds are safe under intelligent tools that can flag discrepancies and stay on high alert for fraud, scams, and hackers. Phoenix International uses Microsoft Azure for financial institutions to ensure that digital tools and other financial services are maintained with secure tools.

If this sounds overwhelming for your financial institution to start or adopt, Phoenix International is here for you with managed services that can ease the burden of integrating modern and responsive solutions. Create a sense of trust through education, security, and consistency. It can be done, and we are here to help. To get started, book a FREE discovery call to speak to our highly trained account executive at More Than Just Banking – Phoenix International.