Fintech applications are on the rise to address the post-pandemic financial uncertainty, by leveraging the presence of big data they have on consumers and turning it into digital products. (Warren, 2021)
💸Financial health/ budgeting apps can address the pain point of losing overview of existing contracts and subscriptions by:
- Leveraging AI to focus on personalized offers in fintech industry
- Creating smart products and responding to customer requests at scale
- Smart dashboards and KPIs to provide overview on financial status
- Predictive AI algorithms to offer suggestions of payments, upcoming fees and reminders based on history of transactions.
🗄️References:
Warren, A. (2021, November 16). Cognizant BrandVoice: Personal Financial Wellness: A Banking Opportunity And Imperative. Forbes. https://www.forbes.com/sites/cognizant/2021/11/16/personal-financial-wellness-a-banking-opportunity-and-imperative/