Nearshore Americas

Webinar: Fintechs are in Crisis and Jamaica Has Answers

Nearshore Americas will host a webinar on the challenges that financial technology firms are facing following the intense demand that has grown for their services over the last 18 months.

Scheduled for October 20th, 2021 – 2PM EDT/11AM PDT, the event will also examine how Jamaica – with its thriving digital economy – is well positioned to aid and assist in some of the most crucial areas of finctech’s customer service challenges.

Among the keynote speakers are Marlon Cooper, CEO, Symptai Consulting, and Dmitri Dawkins, Fintech operator & commercial director at Phoenix International.

Free Registration for the Webinar Here

The global fintech industry is growing at a sizzling annual rate of over 23%, and even before the arrival of Covid-19, an estimated 64% of consumers had used two or more fintech services or platforms. Now, following the acceleration of digital adoption during the pandemic, a massive 74% of Americans view fintech as part of the “new normal”.  The demand, then, is massive. 

One of the major components of the fintech success story is that its start-ups have lost-cost models. There are no physical branches as there are for traditional banks, so communication between fintech companies and their customers is almost entirely digital. The “digital-first” approach clearly delivers rapid growth, but does it deliver strong customer service that will sustain the influx of consumer interest?

Just a few fintechs currently support their customers through call centers. The vast majority use the aforementioned automated systems. These tend to be woefully inadequate both in terms of time scale – taking between days and weeks to respond to pressing customer needs, thereby creating anxious and angry customer – as well as in terms of the level of understanding that customers need when dealing with personal and business finance matters, which generate a lot of emotions. A key misunderstanding from the fintech industry is that customer support is a horizontal offering and that customers are, in effect, all the same. But small business owners dealing with issues around a loan are very different to customers with personal accounts who are struggling to pay their phone bill.

Retaining the human touch has been highlighted as one of fin techs most pressing concerns. In other words, the industry is certainly in a customer support crisis.

With its growing pool of tech talent and a strong BPO industry, Jamaica is ideally positioned to help deal with much of the issues plaguing the fintech industry.

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Aside from customer support, Jamaica can also provide support in areas such as fraud investigation, business/data analysis, and product design – in addition to software coding.

Join us to hear the insights on how Jamaica is confront this fintech challenge. To register for free for the webinar, click here.

Staff Report

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