Category: Resources

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Blog
Justine Melman

How Banks Can Build Better Data Alliances

Hyper-personalization is changing the face of digital marketing. By unifying proprietary data with third-party and contextual data sources, customer-centric leaders in financial services can create experiences that meet customers’ needs in real time. Banks can push this evolution forward even further by creating alliances with other non-competitive brands and playing the role of “concierge” to tailor meaningful experiences down to the individual consumer.

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Does Your Bank's AI Partner Have The Right Data Strategy?
Blog
Justine Melman

Does Your Bank’s AI Partner Have The Right Data Strategy?

It would be a mistake to think that the AI revolution will be this easy. Training a great algorithm — the AI equivalent of building a great app — isn’t enough to create a successful AI initiative at your bank. An algorithm is only as good as the data it’s trained on. And data management and governance in financial services is extremely complex, especially with data privacy laws like GDPR and CCPA now on the books. Adding to the complexity, it’s become increasingly clear that the easiest way for banks to access innovation in AI is to collaborate with fintechs.

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Navigating-Changing-Customer-Expectations-In-Financial-Services
Blog
Jannine Krish

Navigating Changing Customer Expectations In Financial Services

It’s no secret that Big Tech companies like Apple and Amazon have shifted customer expectations over the past decade. Frictionless digital transactions, next-day shipping, and other streamlined omnichannel experiences have become the norm across multiple industries. Companies that can’t deliver may already find themselves falling behind.

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Blog
Rebecca Engelberg

Fighting Credit Card Misalignment With Personalization

It’s in every bank’s best interest to place well-aligned credit cards in their customers’ pockets. Customers spend 32% more and put a higher share of their monthly spend on credit cards when a card’s fee structures and rewards match their spending.

These primary card behaviors make it more likely that customers will purchase other products from the same bank, too. In fact, primary card customers are 15 times more valuable to banks than casual card customers over the long term.

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Harnessing the Power of Branches in Your Digital Strategy
Blog
Justine Melman

Harnessing The Power Of Branches In Your Digital Strategy

The rise of digital banking has not meant the demise of the physical bank branch. In fact, it’s just the opposite. At many banks, branches are still the most important retail sales channel. In the same way consumers prefer visiting their local Apple Store to troubleshoot computer issues in person, they also like an actual human to guide them through major financial decisions.

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Four Digital Experiences that Boost Customer Loyalty
Blog
Justine Melman

4 Digital Experiences That Boost Customer Loyalty

Digital channels are important battlegrounds for customer loyalty in banking. Customers’ expectations are increasingly set by big tech companies that offer frictionless, streamlined digital experiences — experiences that they’re starting to bring to financial services in the form of eWallets, loan products, and more. Banks must leap ahead if they want to remain competitive, and attract and retain the types of loyal customers who generate their steadiest revenue streams.

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Blog
Hossein Rahnama

Big Tech Can’t Be Trusted With Consumer Data — Here’s Why Banks Should Take Over

You probably already trust a bank with your life savings. Why not your personal data?
Imagine you could set up your Android smartphone so that instead of sending your location data to Google, it would go to your bank, sort of like setting up direct deposits for paychecks. The bank would store that data securely alongside your purchase records from Amazon, your web browser history and any other information collected about you via digital means.

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A letter from our CEO Hossein Rahnama
Blog
Hossein Rahnama

A Letter From Our CEO

Every year at this time, I take a few moments to reflect on what we’ve been able to accomplish together as a team at Flybits. And while each year has culminated in some amazing achievements, this year was something truly special. Not only because of how Flybits has grown but also because we are witnessing a change in the financial services industry that is leading to revolutionary developments.

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Optimizing The Cardholder Lifecycle - Part 4: Retention
Blog
Rebecca Engelberg

Optimizing The Cardholder Lifecycle Part 4: Retention

Acquiring a new customer is up to 25 times as expensive as retaining an existing one, according to Harvard Business Review. That makes the fourth and final phase of the cardholder lifecycle, retention, extremely important to banks. By reinforcing card value proposition and proactively addressing potential causes of churn, banks can reduce their costs while also building loyalty.

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Blog
Rebecca Engelberg

Making Payments The Hero Of Digital Transformation In Banking

Every day, more and more credit and debit card transactions take place without a customer ever touching their card. From Venmo to Apple Pay, bigtech and fintech players are launching services that erode banks’ interface with customers, making it harder than ever for financial institutions to build and maintain brand loyalty.

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