Webinar: FinTechs Are in Crisis and Jamaica Has Answers

Nearshore Americas will host a webinar on the challenges facing FinTech companies as a result of the surge in demand for their services over the past 18 months.

Scheduled for October 20, 2021 – 2:00 p.m. EDT / 11:00 a.m. PDT, the event will also examine how Jamaica – with its thriving digital economy – is well positioned to help and assist with some of the most crucial areas of finctech’s customer service challenges.

Keynote speakers include Marlon Cooper, CEO of Symptai Consulting, and Dmitri Dawkins, Fintech Operator and Commercial Director at Phoenix International.

Free webinar registration here

The global fintech industry is growing at a staggering annual rate of over 23%, and even before the arrival of Covid-19, an estimated 64% of consumers had used at least two fintech services or platforms. Now, following the acceleration of digital adoption during the pandemic, 74% of Americans see fintech as part of the ‘new normal’. The demand is therefore massive.

One of the major components of fintech’s success story is that its start-ups have lost cost models. There are no physical branches like traditional banks do, so communication between FinTech companies and their customers is almost entirely digital. The “digital first” approach clearly offers rapid growth, but does it offer strong customer service that will support the influx of consumer interest?

Only a few fintechs currently support their customers through call centers. The vast majority use the above automated systems. These tend to be woefully inadequate both in terms of timescale – taking between days and weeks to meet urgent customer needs, creating an anxious and angry customer – as well as in terms of level of understanding clients need when dealing with personal and business finance issues, which generate a lot of emotion. A key misconception in the fintech industry is that customer support is a horizontal offering and customers are, in fact, all the same. But small business owners facing loan issues are very different from customers with personal accounts struggling to pay their phone bills.

Maintaining human contact has been highlighted as one of FinTech’s most pressing concerns. In other words, the industry is definitely in a customer support crisis.

With its growing pool of technological talent and a strong BPO industry, Jamaica is uniquely positioned to help deal with most of the problems plaguing the FinTech industry.

Besides customer support, Jamaica can also provide assistance in areas such as fraud investigation, business / data analysis, and product design in addition to software coding.

Join us to hear ideas on how Jamaica is tackling this fintech challenge. To register for the free webinar, click here.

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