The Internet of Things (IoT) is a concept that describes a totally interconnected world. Some vehicles, kitchen appliances, and even heart monitors are now connected through the IoT. And as the Internet of Things continually grows, more devices will join that list. Ultimately IoT is able to help people in a number of ways by saving time and simplifying daily activities. One of the industries that will be benefiting from IoT the most is the banking industry.
Fintech is a big deal.
What makes it such a powerful tool is how it works to effectively position your Financial Institution as an advocate your account holders.
Let me share a recent example of what a danger legacy business practices are in a world that has moved on.
A decade ago, Geezeo launched as a SaaS company providing digital financial management solutions to US community banks, regional banks, and credit unions. Since the beginning, Geezeo built its technology infrastructure leveraging Amazon Web Services, which has allowed us to scale quickly and seamlessly.
There is plenty of talk about cybersecurity both internally and externally. And it’s no surprise that cybersecurity in the financial sector, in particular, is a huge industry. Cybercrime, in general, is a $600 billion industry, and at some point in all those breached accounts and all that compromised security, financial institutions will pay either directly or indirectly.
It’s one thing to shop for a new fintech platform. It’s another to actually buy one.
Then it’s entirely another to integrate that platform into your current operations. This is the culmination of all that planning, researching, negotiating and spending.
It can be a very harrowing experience. Or, it can be a dynamic experience with a new and valuable client.
Drama-Free Emergencies and Stress-Free Fun with Your PFM
February is the shortest month, but it has a pair of what we call “sneak-up events” in it.
These are events like Valentine’s Day and the long President’s Day weekend that tend to catch you by surprise, since they usually sneak up on you and aren’t likely planned for in your budget. These tend to be the places where all your good budgeting and savings goals take the biggest hit.
When thinking about holidays, is Valentine’s Day on your list for spending big? Well, it should be because last year, 135 million people in the US spent $30 billion on this holiday. It is important to try not to lose your head when you’re giving with your heart.
Granted, that’s easier said than done. As the infographic shows, Americans are expected to spend an average of $221 on Valentine’s Day. That’s a pretty special day.
The question is, are you prepared for it financially?
Since the best marketing is often built on personal connection, then creating a unique customer experience builds a personalized journey tailored for each person you want to reach.
Your customers want to know that you understand their unique needs, and more and more they are coming to expect that when you talk to them, your messages are relevant to their needs and desires. And a strong personal financial management (PFM) platform allows you to do that.