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Capabilities such as mobile banking have quite significantly changed the way banks and other financial institutions connect with their customers. Banks can now carry out output management efficiently by producing account statements, which users can conveniently access using their smartphones. While these statements serve the purposes of providing the transaction details and account summary to the customers, they lack when it comes to cross-selling of bank’s products. Alex Lin, Chairman and CEO of FUCO&SOLUTION believes that financial bank statements are the most efficient and valuable channels for communication between banks and customers. Considering this, FUCO&SOLUTION monetizes the bank statements and enables cross-selling and up-selling of financial products along with effective content management.
Holding a staggering 40 percent market share in Taiwan, FUCO&SOLUTION personalizes credit card and bank statements for mobile devices by integrating their software with the bank transactions. “People don’t go to their mobile banking apps or online banking portals to explore other products offered by the banks. They might do some transactions, but they never buy cross-selling products,” explains Alex, addressing the obstacles faced by the financial organizations in marketing their products. The bank statements not only help in marketing variety of products offered by the company, but also deliver a convenient method of follow-up for the transactions made by the customers. Using the transaction history, customer preferences, and purchasing behavior, the statements offer financial advisory on products such as loan applications, installment payment methods, and mortgage feasibility.
Statements not only help in marketing various products offered by the company but also deliver a convenient method of follow-up for the transactions
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