Banking, Finance & Insurance

Digital

Technology

Marketing

Solutions

The banking and finance industry is competitive as well as regulated. As customers are shifting to online banking, the digitization of this sector is inevitable. Various commercial banks are investing in digital solutions to provide improved customer services.

At INCITERZ

Digitalization of Banking & Finance Sector

Banking and finance sector is one of the largest contributors to the economy. It is a growing sector that is on the path to digital transformation. Customers are moving towards online banking because of ease and convenience. To keep up with the demands of the customers, it is important that businesses keep up with the digital trends.

In 2021, the global commercial banking industry was valued at USD 2540.3 billion. The projected value is estimated to grow 11.5% annually by 2031, reaching USD 7404.4 billion. The businesses can expect exponential growth, however, digital transformation is going to be a big part of it. To help businesses leverage these growth opportunities, implementing digital solutions is essential.

How the Banking & Finance Industry has Evolved?

Banking & Finance CHALLENGES

Providing Digital Experience

Post-pandemic many customers have shifted to digital banking. Providing a digital branch experience to customers has been a major challenge for banks.

Security and Privacy Risks

Security concerns are one of the biggest challenges to the banking and finance sector. Since banks deal with sensitive data, ensuring proper measures to secure it is essential.

Data Analysis

Banks and financial institutions need data-driven solutions to keep track of their business objectives. There should be clear KPIs and monitoring systems for efficient planning.

Integrating Technology

Banks utilize complex legacy systems that can be difficult to integrate with modern digital solutions. Poor integration can cause security risks and technical glitches

CURRENT TRENDS IN BANKING & FINANCE

Banking and finance industry is going through a major shift. Various digital solutions have been introduced which seek to streamline functions and improve customer service. Knowing the latest marketing and technology trends is crucial for businesses to get an edge over others.

CURRENT TECHNOLOGY TRENDS

Blockchain

Many banks and financial institutions are using blockchain technology. It is one of the best ways of protecting and verifying data. It also creates encrypted records that cannot be tampered with. Using blockchain also helps in the easy tracking of transactions.

Big Data

Large amounts of data that are organized but not structured are known as big data. Big data is the latest technology that helps banks forecast customer behavior based on past trends.

AI and ML

Artificial Intelligence and Machine Learning have enabled banks to handle huge amounts of customer data and analyze it. By using AI and ML, banks are able to track the latest trends and evaluate them to create future strategies. The data also enables quick decision-making and a better understanding of customer behavior.

Cloud Banking

Banks use cloud-based architectures to increase convenience and reduce errors. Cloud banking also helps in global transactions and P2P payments. It improves the quality of contactless transfers as well.

Embedded Finance

This is one of the biggest technological trends in the banking industry. Embedded finance allows non-financial platforms to integrate a few financial services such as payments of debt, insurance, credit cards, etc. for the convenience of users.

Neo Banks

Neo banks allow users to go fully digital and contactless. They are cheaper alternatives to traditional banks and can be used for daily transactions. Using them along with traditional banks can be a great way of simplifying various processes for customers.

Robotic Process Automation (RPA)

Automation can help banks improve various functions. It can take care of various back-end tasks such as loan processing, customer onboarding, and more. By automating these processes banks can improve the efficiency of their services.

Open Banking

It helps banks easily exchange data with other institutions. Through the use of APIs, it provides third-party payments a way to go through and get completed.

CURRENT MARKETING TRENDS

Content Matters

Content is still one of the best ways of attracting customers to your business. There are various content formats that can be used such as blogs, ebooks, infographics, etc. to provide current and prospective customers with content that creates value for them.

Customer Engagement

Engaging your customers is essential to retain them. Customers who feel more engaged tend to be more loyal. Banks should direct their efforts towards improving engagement with customers to ensure their continued interest and loyalty.

Chatbots

Customers appreciate services that are convenient and quick. Many businesses are turning to chatbots to help customers get quick answers to their general queries. Creating and programming efficient chatbots can certainly do wonders for a banking business.

Omnichannel Marketing

Various businesses are combining and integrating their online and offline marketing campaigns to create a seamless experience for their customers. Such marketing efforts are concentrated towards one single goal which helps in achieving a better rate of conversion.

Personalization

One of the biggest marketing trends in the banking and finance industry nowadays is personalization. Businesses that are utilizing hyper-personalization are the ones getting the most business. Sending personalized emails, push notifications, etc. are helpful in retaining customers and enduring their long-term loyalty.

Artificial Intelligence

AI can analyze customer behavior and predict the probable course of action that the objectives marketing campaign should take into consideration. Integrating AI can streamline various processes and also help in creating systems that are geared towards better customer experience.

Predictive Analysis

By combining historical data with ML algorithms businesses can do predictive analysis. It will inform them of repetitive consumer behaviors to plan marketing strategies that will address the future needs of their customers. It also helps businesses stay updated and prepared for the upcoming trends.

Leveraging FinTech

Many banks are collaborating with various FinTech companies to create applications and programs that will address the needs of their customers. This helps banks stand out in a densely competitive market.

SOLUTIONS WE OFFER

Inciterz utilizes a diverse stack of solutions that are tailored to adjust to the evolving nature of the banking, finance, and insurance industry. We offer customized plans to address the technical and marketing needs of your business.

TECHNOLOGY SOLUTIONS

Strategy

The business and finance industry has started leveraging digitization heavily. Having a strategist in your corner who can plan and implement digital transformation and drive results will improve your ROI significantly.

Design

We offer end-to-end design solutions. From logos to brochures, our team creates compelling visuals to attract your target audience.

Web Development

Websites are the representation of your business. We offer full-stack web development services to create an attractive and user-centric website for your business.

timothy-hales-bennett-OwvRB-M3GwE-unsplash

Mobile App Development

Mobile apps are very popular in the banking and finance industry. They help you connect with more users and provide fast and convenient services. We design and develop apps that will help your business attract a wide base of audience.

possessed-photography-zbLW0FG8XU8-unsplash

Chat Solutions

We provide chat solutions for your app and website. They provide a better user experience. We combine the latest technology with user research to create comprehensive chat solutions.

MARKETING SOLUTIONS

Strategy and Consulting

Strategy is the core of all our plans. Our strategy consultants possess valuable insights into the banking and finance industry. They leverage these insights to create marketing solutions that are geared towards data-driven results.

Content Marketing

Content is the foundation of your brand. From acquisition to retention, a strong content marketing strategy is a must to attract customers. We offer comprehensive content marketing solutions to help your business achieve long-term success.

Search Engine Optimization

We have an experienced SEO team that provides comprehensive solutions to ensure your website ranks on top. We provide in-depth SEO audits and create strategies to help the visibility of your banking and finance business.

App Marketing

Apps are an essential part of your banking and finance marketing strategy. We provide app optimization services to improve the personalized experience of users.

Paid Advertising

We provide PPC and social media advertising solutions to help your business reach a wider audience. We set a budget and create effective ads to expand your customer base.

WHY CHOOSE US?

Inciterz is a team of dedicated marketing and technology consultants. We have gained years of experience and expertise by brainstorming successful digital solutions for the banking and finance industry.
Our team keeps itself updated with the latest technology and marketing trends in the industry. We create valuable digital assets and integrate them with the latest technology. Our decisions are driven by data and we are constantly upskilling ourselves to provide our clients with the best services.
We prepare customized plans as per your needs. With us, there are no limits to what you can achieve. Contact us now to learn more about how our strategies can take your business to the next level!

Real Estate & Property

On-Demand Solutions

Social Networking

Food & Restaurant