Blogs

The fintech revolution sweeping through Australia’s financial services sector is rapidly changing the rules of the game for all players and the next generation of customers you’re chasing will absolutely love it.

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Banks have changed a lot since teams of tellers served customers with cash and paper cheques. Back then, many banks closed their doors at 4pm and if you missed out, bad luck.

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The buy now, pay later (BNPL) market has been growing at a phenomenal rate over the past few years, with transaction volumes skyrocketing and companies such as Afterpay, Zip and Latitude having grown from start-ups into multibillion-dollar enterprises. But despite its growth, the sector faces challenges as it enters a new phase in its evolution.

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The continued emergence of digital banking is pressuring traditional banks to increasingly modernise their services to keep up with the times.

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You’d be hard-pressed in today’s market to find an Australian bank or institution with a customer engagement strategy that isnt data-driven; that hasn’t attempted to bring all its data holdings together to aid customer engagement; and that isn’t trying to do some or all of this in the cloud.

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