On this week’s episode of News & Views, The Fintech Times Podcast team speak about digital banks continuing to capture users, how false declines are harming retailers’ reputation on social media and why 40 per cent of businesses are struggling to balance security and customer experience.
A momentous occasion for The Fintech Times Podcast team as they hit their 150th episode, the conversation starts on the topic of false declines and consumers’ responses to failed payments on social media. While stats suggest extreme customer dissatisfaction, the Podcast team unanimously agree that taking to social media to voice anger is a bit of an overreaction and that in fact that level of security is not only necessary but appreciated too.
The discussion then moves to how popular banks’ digital apps are, with research revealing that neobanks saw a greater amount of downloads in the past year. The team note how incumbents are keeping pace with digitally native banks who previously were one step ahead when it came to digital offerings.
The last topic raised on the podcast surrounds businesses’ priorities and what is more important: security or customer experience. The team highlights how there is a disconnect between firms and consumers and how data is used.
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Read the articles discussed in this episode:
False Declines Are Harming Retailers’ Reputation on Social Media as All Ages Voice Complaints Online
Twilio: 40% of Businesses Struggle to Balance Security and Customer Experience
Digital Banks Continue to Capture Users, As Android Banking App Downloads Increase by 13% in 2023
