Embedding Fintech Services to Business Platforms: Maximizing Customer Analytics - ERP Spain.com - España y América Latina

While Fintech services and platforms become more and more prevalent in our day-to-day life, seems like other relevant business platforms on the digital sphere are watching the newcomers as APIs to be consumed only, not as a relevant component of the product or service lifecycle these incumbent platforms provide for their customer base. However, fintech platforms represent a huge opportunity for these mature digital platforms to gain insight into other opportunities that were not visible when you stop seeing what happens before, during and after a customer pays for the order using a banking or fintech platform: Increased sales from customers that, with a much-needed credit line, could be placing a bigger order Increased brand fidelity if smaller, more frequent transactions are brought together to recognize repeat business, even if the customer did not claim the transactions New revenue streams coming from fees generated by insurance policies, credit card reference or invoice factoring created as part of day-to-day business Better value for customers when larger orders can be placed on behalf of a pool of customers that bid together for discounted prices on volume. There are only a few examples of the opportunities that established digital and brick-and-mortar players are letting pass for not understanding that the main advantage that fintech companies bring to the table is the ability to see a problem or an opportunity from a clean-slate perspective; as well as the agility to design and implement for specific businesses and models. A revenue-sharing model between fintech and established layers for the benefits of customized, advanced analytics would be the model to think outside of the brick-and-mortar box.