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Evolving customer experience with Cloud computing in BFSI landscape
Evolving customer experience with Cloud computing in BFSI landscape

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The current financial and business environment is undergoing a transformation. Consumers are spending more time online than ever before for both business and personal purposes. The average consumer is now comfortable in utilising online services for their requirements. As they increasingly rely on their smartphones to make purchases, browse the web, and track their financial activities, they look for a quick and simple solution. This leads to consumers looking for a cloud-based platform that allows them to monitor their financials and banking services in a secure and convenient manner.
A bank or fintech company can serves its customers with their needs and an easy-to-use platform that works for them. To help them reach their goals, there are a few key advantages which any company can bring to its customers when it comes to digital financial services, and here are five of them.
1. Time – a valuable asset: Time is valuable for financial services business, but it’s also valuable to your customers. People value time, and they want digital experiences that align with their lifestyles. They want quick answers to their queries and solutions to their problems.
2. Security – protecting customer’s sensitive information: When it comes to trusting a financial services company, security is at the top of the list. While utilising the cloud, the cloud provider adheres to national and international security regulations while employing the most qualified IT personnel to combat cyber-attacks. Furthermore, cloud providers backup customers' data on multiple servers located in different geographical areas to facilitate disaster recovery. This reduces the risk exposure of the users' data.
3. Enhanced efficiency for better experience:  In today’s competitive landscape, efficiency is ofan utmost priority for any financial service provider, whether it is bank, insurance or a fintech company. Customers want to make their financial transactions as efficient as possible, and they want to be able to do it from anywhere, anytime, without having to go to a branch. Collaboration and real-time work can happen anywhere in the world thanks to the cloud as it provides solutions across the entire institution.
4. Ensuring satisfaction of customers through Cloud: At the end of the day, the primary goal of any fintech company is to ensure the satisfaction of its clients. The only solution to this is to focus on the people, and the flexibility of the cloud makes it easy to create people-focused services. Even if they have automated email or chatbots set up for customer assistance, they can customise their cloud technology to enhance these programs. Additionally, cloud services can be combined with AI and machine learning programs to create tailored offers and experiences for customers based on their behavioural habits.
5. Providing online services: With more people spending more time online every day, consumers today are more likely to use the internet before looking for solutions elsewhere. Without a strong digital offering, potential customers will likely look elsewhere for a service that satisfies their needs. By using the cloud to build online services, it can retain customers and once a FinTech company builds a solid cloud foundation, it can interact with its customer in multiple ways to interact and find solutions for its customers.

​In the modern world, ensuring customer satisfaction is at the heart of any banking or fintech organisation. Harnessing the power of cloud computing technology is vital in meeting clients' dynamic expectations. Thus, adopting cloud computing solutions, any BFSI company can enhance its agility by enabling a smooth and customer-centric journey that drives growth for its clients as well as for the fintech company

For more insightful blogs like this, please visit: https://www. kfintech.com/blog/


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KFintech serves the mission-critical needs of asset managers with clients spanning mutual funds, AIFs (alternative investments), pension, wealth managers and corporates in India and abroad. The company provides SaaS based end-to-end transaction management, channel management, compliance solutions, data analytics and various other digital services to asset managers across segments, as well as outsourcing services for global players.

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