Bogotá, March 10th, 2020.- The great challenge that financial institutions face today is to put the customer at the center of everything they do. This is why Latinia, company specializing in real-time event processing software for banking, provides details of how banks can take advantage of the context of their clients to propose actions that benefit their financial life.
“Let’s imagine a Grizzly bear in a river trying to catch salmons, and let’s think that this river is the financial life of a bank customer, where every second things [salmons] happen: Salmons are these charges, payments, or invoicing’s. Money is constantly in motion (as salmons do), but does it make sense to wait for the customer to go to the bank, check their website or enter the App if everything is in continuous action?”, Says Oriol Ros, Latinia’s director of corporate development. The executive adds: “We believe not and that is why we bet on being that bear that, within the river of the client’s finances, observes and catches the salmon, that is, identifies something relevant to the client and communicates it.
The customer of a bank generates between 6 and 8 daily financial events, almost all of them indirect, which means that, although he/she is awareness when withdrawing money from an ATM or paying for lunch, many other unnoticeable things that happen can be an opportunity for both the bank and the customer to be alerted and communicated.
“We at Latinia analyze the moment and the context of the person in real time, and we notify them of the next best action for their finances. In that sense, if we are on the 7th day of the month and we see that the client has spent 72% of his credit, we can offer to extend his quota after sending him the relevant notice triggered after a payment done with his card, for example “, explains the Latinia executive.
The bank must understand that their model must be focused on the client 100%, since it has two of the most intimate assets of the consumer, on the one hand, its money, and on the other, its data, which makes banks are the customer’s most trusted store.
“Nowadays most of the technological options are restricted to ‘saying’ something to the client when he ‘appears’ or ‘disappears’ in/from the channel, for example, when he accesses the bank’s App and the entity, taking advantage of the fact that the client is online and accessible, offers him/her something. At Latinia we are committed to another type of approach: we believe it is convenient to act when something really relevant happens in the client’s financial life, not when they are in the channel checking their balance”, concludes Oriol Ros, Latinia’s director of corporate development.