Fintech Companies And Neobanks Advised To Prioritize Hyper-Personalization For Sustainable Growth.

Netcore Cloud, a renowned omnichannel marketing technology leader, highlights the importance for businesses in the fintech and neobanking sectors to implement hyper-personalization as a crucial customer service strategy in order to remain competitive.

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

Saket Kumar Jha, the Chief Revenue Officer, APAC & MEA at Netcore Cloud, emphasized that intelligent customer engagement has become the new avenue for organizations seeking revenue growth and an expanded customer base. Jha explained that intelligent customer engagement encompasses the utilization of predictive tools, models, insights, and data partnered with quality interactions to effectively reach the target audience.

During the event, Chukwudi Nwokike, the Vice President of Customer Success at Netcore Cloud Africa, conveyed the importance of hyper-personalization in the financial industry as the next frontier in customer service. Nwokike claimed that hyper-personalization offers a pathway to achieving business objectives, stating, “The era of simply personalizing content and messages to customers is over, as this approach no longer fulfills its intended goals. Hyper-personalization involves reflecting a customer’s daily life, including their activities, preferences, and habits. For instance, my bank knows the football club I support and, through transaction alerts and account statements, highlights my spending patterns, trends, and habits.”

Furthermore, Bhupesh Utreja, the Country Manager of Netcore Cloud Africa, underscored four critical metrics for fintech app success: Activation (user sign-ups and transactions), Adoption (repeat transactions via the app), Retention/Loyalty, and Cross-sell opportunities. Utreja also recommended utilizing the GRIP (Guide, Remind, Interact, Productise) framework, engaging with advanced Nudge templates, and implementing gamification strategies to enhance user experiences. These tactics empower fintechs and neobanks to increase their revenue and grow their customer base.