An Experian survey paints a stark picture of Americans’ financial uncertainty amid the pandemic—and suggests opportunities for forging stronger connections with customers and employees by offering resources to help that can keep them connected and engaged
Giving small business clients resources to protect their financial health in this time of crisis can not only create additional touch points with brands, but can be a saving grace. This generates long-term goodwill and, ultimately, client loyalty. As COVID-19 continues to wreak havoc, small businesses can use all the help they can get.
The consumer trend data shows consumers are resolving to improve their credit score in 2020 by increasing their income and paying their bills on time. The recent consumer survey showed that 51% of consumers are making plans to increase their income potential in 2020.
By helping customers to improve their finances and to safeguard their personal data, these high-value services also give lenders insight into customer needs and creditworthiness, and can help uncover a new revenue source. Greater understanding of customer priorities in turn enables timely, targeted product offers that address customer needs and offer great ROI potential.
As customer service continues its rapid shift to digital channels, consumer-finance companies have a powerful opportunity to engage customers and add value to the user experience. Credit education solutions can give customers valuable, personalized information and help lenders deliver relevant, prequalified credit offers that meet customers’ needs.
Secured credit cards are time-tested vehicles for enabling consumers with no or limited (thin-file) credit history to build their credit score profile. Pairing secured cardholders with individualized credit education services can help consumers and credit card issuers reach that goal.
Recent Experian research found that innovative digital resources are highly effective at informing, educating and energizing millennial audiences. That makes credit education services, delivered over the digital and mobile channels where millennials are most at home, an ideal millennial-outreach vehicle.
Consumers love to use fintech services for the instant accessibility and convenience they provide; but as more and more providers are entering the financial technology space and offering the same services, it’s harder for consumers to tell providers apart.
Today, Fintechs have a significant opportunity to educate and empower millennials with impactful credit education services. We know millennials are technologically savvy, but studies suggest that they need help building financial wellness.
Fintech companies can get ahead of consumer demand by offering identity protection solutions that cover individuals and their families. Offering solutions that detect cyber threats to personal data, can help Fintechs build loyalty with their customers while gaining a competitive advantage. Bundled identity-protection solutions give fintechs an edge in the market by providing an additional [...]