The payment experience for customers is in desperate need of an overhaul. Despite technological advancements and availability of third-party customer service outsourcing opportunities, billing and collection systems are still rudimentary at best. Especially when it comes to the healthcare industry, where patients are taking on more [...]
When you walk into a bank’s physical branch, how many millennials can you seen swarming the counters? Probably none. Gen Y is also becoming an endangered species in traditional financial outlets. These tech-savvy customers tend to gravitate towards mobile and phone applications for most of their [...]
Traditional banks can leverage fintech collaborations to end the onslaught of challenger banks. Here's a look at how that combination can elevate customer experience - the number one factor for brand loyalty.
Loyalty is a brownie point. Great CX is indisputable. Outsource customer experiences to get them right, every time.
Debt collection is one of the oldest-standing practices in the world, considered older than the history of money itself. It existed during the barter system, going as far back as 3000 BC. In those days, if debtors could not pay back their borrowings, they would have [...]
Let’s suppose a person wants to buy a car. They can go online, research the various models available within budget, visit a showroom, test-drive the vehicle and make a decision. They are also walked through the various payment options available to them, including EMIs and loans. [...]
When someone says internet fraud, the immediate image that may come to mind is that of sophisticated criminals, adept at identity theft and online hacking. Yet, there is another seemingly simple, duplicitous act that costs businesses billions: chargeback frauds. Also called friendly frauds, this particular technique [...]
Picture this: a person visits a car showroom with the intention of making a purchase. A sales representative approaches her/him and offers to help. After exchanging pleasantries, he goes on to give the customer a complete tour of the facility, insists on introducing his colleagues, and [...]
Alternative payment methods such as mobile wallets, and UPI are gaining popularity as we inch towards a digital India. Nevertheless, credit card payments see a robust growth, at 25%. In 2018-19, consumers spent 30% more using their credit cards than they did the previous year. With [...]
Foreign exchange is not a new-age phenomenon. Currency trading goes as far back as the first century C.E. The role of shulhani or exchange bankers has been outlined in the Babylonian Talmud, the Jewish sacred text. Pilgrims from far-off countries would bring large amounts of foreign [...]