3 minute read
Solutions for Success
Solutions for Success: Customer Experience is the Real Competitive Advantage
The Solutions for Success series features timely issues and best practices from CBA Associate Members. CBA recently met with Matt Mingenback, Vice President at Fitech, to ask a couple of questions pertaining to multi-channel marketing. In an industry where technology is changing by the minute and a business environment in which contactless sales are becoming the norm, the ability to stand out from the competition is proving daunting, if not impossible, for many companies. One payment technology company, however, has built its business strategy around the customer experience and is leveraging its collective capabilities and strengths to drive revenue for its bank partners. Here’s how they are doing it.
In a sea of payment providers, how can banks identify the technology partner to help them ensure success today and tomorrow?
The WIIFM—What’s In It For Me—principle is as strong today as it’s ever been, but rather than focusing exclusively on your bank, look at the proposed value of the partner through the eyes of your customers. Are the products and services described important to them? Can your customers implement them quickly and easily? Are the solutions flexible and scalable to grow in lockstep with their business?
Your payment technology partner should ask the same questions when identifying and investing in solutions for you.
Community banks are more than a funding source for small businesses; they provide value- added services to help local businesses operate more efficiently and remain both competitive and relevant.
How does a tech-forward mindset correlate to long-term value for your customers?
Customers are more likely to renew a relationship if their interactions with a company are fast and easy. This is especially true when it comes to technology solutions. From rapid onboarding to speed of integration to accessibility, effective processes are essential when delivering a positive customer experience.
Fitech, as an example, offers multiple ways to set up a merchant account, including a digitally secure application that can be completed via email or a link embedded in your banking platform. Bank partners can pre-load customized pricing and program parameters so that merchants only need to add their demographic information to apply. Within 24 hours, merchants can be approved and begin accepting payments.
Partners benefit from an equally effortless journey utilizing Fitech’s open API for a truly seamless software integration. And consumers can pay the way they want, whether that’s via a mobile device, digital wallet/ApplePay or online.
Your merchants have enough details to manage; accepting payments shouldn’t be one of them.
How do successful companies innovate?
They collaborate. They communicate. And they cooperate; working together to generate ideas that become better, more inventive and satisfying solutions for their customers.
Whether you’re adding merchant services to your portfolio or putting the pieces in place for the next big project, choose a technology partner that understands your business needs and focuses on the customer experience to give your bank a competitive advantage.
Fitech, like the CBA, focuses on the interests of community banks exclusively. For help crafting your payment strategy and to learn more about the payment solutions that Fitech offers, please visit www.fitech.com.
Matt Mingenback
Vice President, Sales FITECH
A personal message from our President:
THE STS GROUP DIFFERENCE
