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How to create a seamless customer experience in fintech today

Medb Kiely-Cuddy




March 16, 2023

How to create a seamless customer experience in fintech today

No matter what industry you’re in, the most essential aspect of any product or service is customer experience. In today’s world, customer experience (CX) can make or break a startup.  

CX can also be the downfall of long-established companies. Myspace lost to Facebook partly due to its disorganized interface and cluttered ad space. Users wanted a social media experience that presented tailored content in an easy-to-digest manner. In 2010, they lost almost 50% of their customers following an aggressive in-site advertising model.  

With 97% of websites failing at user experience, it’s more important than ever to stand out. To create a killer app, you need to provide the client with a streamlined and valuable user experience and an onboarding process that they barely even notice.  

Super apps offer the customer an experience so comprehensive and seamless that it removes the need for any other app.  

Super Apps

WhatsApp became the go-to messaging app by offering a low-cost alternative to messaging that was highly familiar to users. It could be installed on any platform in seconds and connected using only a phone number. With over 2 billion clients, WhatsApp has replaced phone calls and text messages for many users worldwide.

Spotify was only created in 2006 but has quickly gained a reputation as one of the most popular music streaming apps, with over 170 million users. It did so with an incredibly easy-to-use “freemium” model that lets users discover new music tailored to their unique tastes through sophisticated data collection. With the human brain perceiving anything under 250 milliseconds as instant, Spotify plays songs within 285 milliseconds.

Google Search has proven to be the ultimate search engine, after all, how often do you hear people telling others to “just google it?” It is the most visited website worldwide with a 92% share of the global search engine market and handles more than 3.5 billion searches per day. Google search results are tailored and high-quality, giving users exactly what they’re searching for with almost any input. Advertisements are integrated into the design of the website with little visual noise. Google is also able to return millions of results in 190 milliseconds.  

What these apps have in common is that they offer an unparalleled customer experience with all users might need at their fingertips in what seems like an instant. CX is the core tenet of building a reputable and profitable company.

So how do you create this in the fintech industry?  

Creating a next-gen fintech app

To create a super app in fintech, you have to provide the customer with everything they might need in an intuitive and streamlined way. This includes personal finance services, wealth portfolio management, and financial screening, all while being AML (Anti Money Laundering) and CFT compliant and easy to use.  

Several open banking APIs (Application Programming Interfaces) like Nordigen or Plaid already offer this to the traditional finance sector. However, you’ll need to integrate Web3 options to provide a truly comprehensive service to clients.  

With over 320 million crypto users worldwide, it makes sense to cater to this ever-growing market of customers with both conventional and digital assets. The average crypto user has over 3 crypto wallets and even more crypto apps. This, combined with the apps and accounts they use in traditional finance, can pose a headache for your clients. Onboarding users needs to be a pain-free process for both you and your users.  

Offering your customers a service that connects all their assets and accounts seamlessly in one app gives you an edge in a highly competitive market.

Secondly, you need to be fast. Attention is a finite resource in the modern age of the internet. 53% of mobile website users will leave a page if it doesn’t load in 3 seconds. Integrating crypto options and onboarding new clients needs to be simple, streamlined, and speedy. That’s why our API can connect your users’ accounts and wallets to your platform in a matter of moments.

Integrating Web3 options into services can considerably boost your company’s user base while increasing profits. After introducing cryptocurrency options in 2018, Revolut gained over 6.5 million new customers in a year. And it doesn’t have to be a regulatory headache with weeks of coding ahead.  

With Blockmate’s API, you can safely integrate a wide range of crypto services into your next-gen fintech app or platform and offer your customers the speed and convenience they expect.

Blockmate: One API for every Web3 integration

What Blockmate adds to your toolkit:

User onboarding: With Blockmate Link, your Web3 users can instantly connect to your app with our no-fuss, no-code solution. It can be integrated into your app as a simple, customizable login widget, making the customer experience even smoother. In just a few clicks, you’ll be able to onboard Web3 users and start connecting them to your project.

Detailed analytics: Blockmate Analytics allows you to access a real-time breakdown of your user base and activity, including potential bot activity, core demographics, and transactions, to tailor your product perfectly. Our analytics dashboard shows you all the information you need to understand your Web3 community.  

AML/CFT compliance: Our API helps ensure that you remain AML and CFT compliant with risk scoring of transactions based on the sources of assets.  We check the sources of your users' funds against sanction lists and third-party databases to ensure that you can operate with peace of mind.

Financial screening: You can use our API to verify your users' identity, including KYT (Know Your Transaction) checks. With Blockmate, you can easily integrate Web3 screening processes into your user verification process in minutes.  

NFT management: Developers can build a customized NFT management app or service using our comprehensive suite of NFT management tools. This includes tools to verify NFT holders’ identities and create a single portfolio to view and manage all types of NFT contracts.  

Aggregated financial view: With our API, you can access aggregated and categorized crypto data for apps or corporate finance. This can be used for bookkeeping and accounting as well as providing a full financial overview to your clients. Our services let you offer your clients deeper insights so they can make data-backed decisions for their future savings and spending.  

Forget hours and days of writing code and aggregating data. With Blockmate, you can integrate Web3 services in minutes. Book a quick call today if you want to learn more about our API and what you can build using our tools.

The future of fintech

The fintech companies that embrace a holistic view of finance can capitalize on a growing market of consumers who shop, spend, invest, and save in multiple ways. By offering your clients a seamless experience that blends traditional finance, open banking, and Web3, you can create a super app that meets all their needs.  

The world of finance moves fast, and to future-proof your fintech solution, you need to be just as fast. That means embracing new financial innovations as they arise. By using APIs like Blockmate, you can easily integrate Web3 services into your product and focus on what really matters, curating the perfect customer experience.