October 03, 2024

What Customers Want: Navigating the Tension Between Innovation and Regulation

1 hour 3 minutes

Welcome back What Customers Want, a limited 4-part series from the Fintech Takes podcast, hosted by me and Corey Besaw, President of APAC and co-founder of Ubiquity.

In Episode 3, Corey and I are joined by Ahon Sarkar, SVP & GM at Helix, to dive into the natural tension points between fintechs, banks, and those ever-evolving customer expectations.

Financial services are leaning hard on self-service automation, but fintech moves at lightning speed—constantly innovating to craft the perfect solution. So, what happens when customer expectations and fintech's rapid pace don’t quite sync up?

Highlights include:

When fintechs, banks, and platforms first come together, discussions around customer service can be a mixed bag. Banks want to know if the fintech understands support systems or if they’re building from scratch. How do you scale a lean team while delivering an exceptional experience?

Choosing a sponsor bank is like setting the stage for long term success. Alignment is key. Do they have experience managing the complexities of third-party models like BaaS? Can they handle the risks that come with fintech partnerships?

As fintechs scale, banks must strike a balance between fostering innovation and keeping control. It's a bit like managing a kid on a trampoline—gradually handing over trust while ensuring the right safeguards are in place (or so we’d hope!).

As Banking-as-a-Service (BaaS) matures, customer service is becoming a competitive edge—but only if fintechs and banks can align on expectations and regulatory standards. What happens when customer support or fraud spirals out of control?

In the tug-of-war between innovation and regulation, tune in to hear how these growing pains may create a brighter future for customer experience in financial services.

And don’t forget to subscribe and catch more insights on what customers want in upcoming episodes.

Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/

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Follow Alex:

YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos

LinkedIn: https://www.linkedin.com/in/alexhjohnson

Twitter: https://www.twitter.com/AlexH_Johnson

Follow Corey:

LinkedIn: https://www.linkedin.com/in/corey-besaw-8004182/

Follow Ahon:

LinkedIn: https://www.linkedin.com/in/ahonsarkar/

Learn more about Ubiquity here:

https://www.ubiquity.com/

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By Alex Johnson

2020 ratings