Le Banking-as-a-Service (BaaS) : le futur des stratégies « Customer-Centric » ?

the future of “Customer-Centric” strategies?



The revolution is on its way. Digital banking services have begun their metamorphosis. The “Customer-Centric” approach is now essential for developing a business. Driven by digitization, the e-commerce boom, the rise of instant payments and transfers, financial services are taking on a whole new importance. And it is no longer a secret that the digitization of the banking sector has accelerated considerably over the past two years. In the wake of digitization and the development of embedded financial products, the integration of these services into non-banking products or processes has become a standard that many customers no longer want and cannot do without. The fact that financial services are now offered exactly where and when the need arises is a development expected not only by companies as an alternative but also by end customers.

A vision that is only in its infancy

The health crisis has changed a lot of things at all levels. Consumer habits in particular have led to a paradigm shift. The French are now looking for security, whether physical (avoiding high-traffic areas) or financial (unnecessary expenses to protect their savings). To do this, they use online purchases (e-commerce growth of 11.8% in 2022 according to the FEVAD in search of good deals. A fear remains, that of fraud or And this is where a step to make the difference in the customer experience: the checkout process Offering different payment solutions (with security at the heart of the process) to customers is a true “Customer-Centric” strategy in its own right.

Even if the bank card remains predominant (82% of consumers use it for online payment), new payment solutions are becoming more and more present in the daily life of the French (mainly for the new generation).

It is in the face of this observation and to best meet the needs implied by this new use that fintech developed mainly in 2021. France FinTech’s annual report announces a record year: 2.72 billion euros were raised in 2021 by French fintechs (this represents an increase of 174% compared to 2020).

Banking-as-a-service: essential to boost your development

French fintechs represented 32,000 jobs in 2021. For 20% of them, it was a question of offering new payment solutions.

These newly created companies have come up with a very long list of new financial services, all reimagining classic business models or bringing something entirely new to the market. For example, it is now possible for a non-banking company to offer its own financial solutions (Banking-As-a-Service).

It is thanks to this “on the ground” vision that fintechs have a head start on the big, long-established financial giants. Indeed, a fintech that integrates financial services into its business model at the right time, can make a big profit out of it.

The success factors of a fintech, as with any business, are linked to customer satisfaction, which is found in a fluid and transparent end-to-end experience. Moreover, as with any product, the brand must be at the center of attention in addition to offering impeccable services.

According to Dr. Peter Fader, Professor of Marketing at the Wharton School of the University of Pennsylvania, the “Customer-Centric” approach corresponds to a strategy that aligns the development of services and products with the current needs of a segment. of customers. In order to achieve this objective, it is essential to place the customer at the center of the strategic objectives of the company in a real logic of customer loyalty. And this is what companies that implement embedded finance solutions offer. Sharpening a strategy involving its own financial services (even if you are not a banking company) will be a real plus for optimal customer satisfaction and therefore foolproof loyalty. Non-banking companies, get support to offer your payment solutions. You will come out a winner!


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