Home Business Insights & Advice Investment FinTechs change the role of the customer

Investment FinTechs change the role of the customer

by Sponsored Content
31st Oct 22 11:14 am

The last 20 years have seen a remarkable change in the finance industry. Digitalisation has completed its process, at least to date, and today many of the tasks that used to involve travel, phone calls or huge amounts of documents and forms have been replaced, largely by a digital environment that makes life easier for many citizens. Although, all this change has had certain reluctance from part of the population that is less adapted to the digital environment, the agility achieved is undeniable.

However, this new model has not brought about all the far-reaching changes that society has ended up demanding. To a certain extent, because a large part of this process was carried out with the idea of maintaining an existing system, but in a digital environment. But time has passed, and society’s needs and trends have evolved. Today, these more rigid modalities in which the customer’s role is relegated to passivity and the tutelage of the entity with which they work have changed. The users have become accustomed to finding information thanks to the possibilities offered by technology, to searching for what they want to find and forming their own opinions, to making their own decisions.

The recent consolidation of FinTech has been one of the most relevant phenomena in the history of finance. Their irruption has implied a world of possibilities related to innovation and the application of technology to one of the historical sectors. Rather than competing with other entities, its objective has been to provide new solutions and options that are more in line with current needs than those of other “classic” companies. Technology is in its DNA, it is true, but also how to apply it to better connect with a large number of users.

If there are several sectors that have changed radically in the last two decades, the communications sector stands out particularly. The new ways of interacting are more open, flexible, and immediate, and society has become accustomed to them. Why not apply this concept to one of the most important areas of finance, that of investments? FinTech NAGA has taken this step with its social trading platform concept, an approach in which the client has the possibility of contacting other users of the platform and making queries, giving advice and sharing experiences. All in a comfortable, customisable way and in a pleasant and intuitive environment. This is where the consumer takes centre stage, ahead of many of the classic interests of classical institutions.

The NAGA Trade environment is precisely an example of the changing role of the customer. The objective is that this consumer has access to training and information, making tools and means available for this purpose. Its functionality is advanced and its possibilities complete, with more than 1,000 assets to invest in. Its tools for security and privacy protection, as well as its licenses to operate, are also state-of-the-art. But what is really innovative is the change in the concept of the customer, who is given greater freedom and a more prominent and mature role.

The FinTech idea of putting the customer in another place seems to have good results, since its expansion is being remarkable, with a good acceptance by a significant representation of society. NAGA itself already has more than one million customer accounts and has just launched NAGA X, more focused on cryptocurrency-related assets. On the other hand, other areas such as wealth management, financing or new payment methods continue to trend upwards. As it seems, the FinTech journey has only just begun; their next ideas may once again be revolutionary and bring even more innovatory concepts.

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