While digital banking has made it easier than ever to spend money, it has also provided more ways to help customers manage their money effectively, including financial inclusion and education. In a series of articles we dive further into discussion and topics that can help you succeed.
While digital banking has made it easier than ever to spend money, it has also provided more ways to help customers manage their money effectively, including financial inclusion and education. In a series of articles we dive further into discussion and topics that can help you succeed.
The pandemic, inflation, and the ongoing cost of living crisis have significantly impacted how consumers spend and save money. At the same time, the use of digital banking services has increased in the past two years. While digital banking has made it easier than ever to spend money, it’s also made financial management much more accessible, helping millions of people to keep better track of their finances and to save money.
Around one in five UK adults have low financial capability, meaning they lack confidence navigating financial matters and the digital world. If this wasn’t enough, high inflation is putting more pressure on financially vulnerable people without the resources or skills to protect themselves from rising costs. As a result, there’s now a growing imperative – both societal and regulatory – on financial services (FS) providers to support customers and improve their financial wellbeing.
ieDigital offers the Interact digital engagement platform, which aids in workforce management, data analysis, customer self-service, and creating a safer financial environment. Interact is flexible, secure, and supports multiple devices and channels, enabling a truly omni-channel experience.
Core banking systems and digital banking suites are very different beasts. They may both be software genres, but they change at such different speeds that they demand a different governance approach. Download to learn about a pace-layered application strategy and how that applies to banking and financial services software.
ieDigital has been selected by Suffolk Building Society as its partner for a new eSavings platform. The digital platform will allow the Society’s members to access a range of online savings products, which is part of the Society’s wider digital transformation programme across many areas of its business.
Big banks have adopted savings goals and other digital services to attract digital-savvy customers. While building societies may have struggled to keep up with the rapid pace of innovation, they have the potential to excel in offering these services to their members.