Finance apps have radically reshaped our relationship with banking. From Kansas to Kathmandu, everyone can now manage their finances from the palm of their hands. Whether you’re paying a friend with Venmo or applying for a loan via your bank’s app, you’re very likely part of the Fintech revolution. But banking apps are more than just a means to make simple financial transactions. Their accessibility and inclusivity make them instruments of empowerment.
Mobile banking apps are not only changing the way we think about the way we make financial transactions, but they’re also bringing banking services to people in remote locales who have never had access to a bank before.
What’s telling about this banking revolution is just how quickly the notoriously risk-averse financial sector has transformed itself, especially considering the strict regulations and legacy issues that affect the industry. These changes have been driven by bold and visionary initiatives from both startups and traditional banks alike. Indeed, the bar is high for marketers of fintech apps. They have to deliver experiences that will capture both mindshare and a share of wallet.
Explore how Standard Chartered — a bank with roots dating back to 1853 — has embraced neobanking with a Virtual Bank. CEO Deniz Güven gave Adjust a sneak peek at the new venture in our first issue of LTV magazine. Deniz says, “You cannot differentiate in this kind of market with just a new mobile banking app. You have to give a reason for customers to change their banks, which isn’t easy.”
Download LTV issue 1 to read the full article and learn more about “Brave new banking: How Standard Chartered gets it right.”