‘Fintechs, Neobanks Must Embrace Hyper-Personalisation for Business Success’

Netcore Cloud, a global leader in omnichannel marketing technology, emphasizes that businesses in the fintech and neobanking sectors must embrace hyper-personalization as a crucial customer service strategy to stay competitive.

This insight was shared during the 2024 MarTech Mashup for Fintechs and Neobanks held in Lagos.

In his welcome address, Chief Revenue Officer, APAC & MEA at Netcore Cloud, Saket Kumar Jha, said intelligent customer engagement is the new pathway for organizations aiming to grow their revenue and customer base. He noted that intelligent customer engagement involves using predictive tools and models, insights, and data combined with quality engagements to effectively reach the target audience.

Vice President of Customer Success at Netcore Cloud Africa, Chukwudi Nwokike, stated that hyper-personalization is the next frontier in customer service for the financial industry, offering a path to achieving business objectives. He said: “The era of merely personalizing content and messages to customers is over, as this approach no longer achieves its intended goals. Hyper-personalization is about reflecting a customer’s daily life—what they do and how they do it. For example, my bank knows the football club I support and, through my transaction alerts and account statements, highlights my spending patterns, trends, and habits.”

Country Manager of Netcore Cloud Africa, Bhupesh Utreja, highlighted four crucial metrics for fintech app success: Activation (user sign-up and transactions), Adoption (repeat transactions via the app), Retention/Loyalty, and Cross-sell opportunities. The GRIP (Guide, Remind, Interact, Productise) framework, engagement with advanced Nudge templates, and gamification of user experiences are additional strategies that fintechs and neobanks can use to increase their revenue and expand their customer base.