Leverage personal banking software to enhance customer experience

Personal finance software and apps can help customers master the fundamentals, become more efficient with their money management, and even discover ways to meet long-term financial goals.

The best personal finance software is determined by the customer’s current financial needs. Some personal finance software can assist them in mastering budgeting and expense tracking, while others can assist them in managing their investment portfolio. Of course, their budget for personal finance software is essential as well.

In this post, SmartOSC Fintech looks at the best 5 personal banking software and shows you the standout features of each one, so that you can a better idea to enhance customer experience.

Top 5 personal banking software to enhance customer experience

1. Backbase

Backbase’s mission is to help financial institutions accelerate their digital transformation and compete effectively in a digital-first world.

They developed the Backbase Omni-Channel Banking Platform, a cutting-edge digital banking software solution that combines data and functionality from traditional core systems and new fintech players to create a unified digital customer experience.

Backbase enables financials to create and manage seamless customer experiences across any device while delivering measurable business results.

And SmartOSC Fintech is honored to be an official partner of Backbase. Here, you will receive the best advice on technology solutions implemented on the Backbase platform. 

2. Personal Capital – Best for Wealth Management

Personal Capital allows you to manage your financial accounts from a single platform. Include your bank accounts, mortgage, and other credit accounts, as well as investment accounts, to provide customers with a complete financial picture.

Personal Capital can save them from having to switch between tabs to understand where they stand if they have multiple accounts.

3. Mint – Best for Budgeting

Mint is one of the most widely used budgeting and expense tracking applications. Customers can instruct the software to pull their bank and credit card information in order to analyze their spending and identify areas where they can cut back to improve their finances.

Mint allows them to set up alerts for payment due dates and low balances to help them stay on track. These features assist them in avoiding costly fees for late payments and overdrafts on their bank account.

4. YNAB – Best for Habit Building

YNAB is personal finance software designed to assist customers in improving their financial literacy while managing their monthly budgets. The software provides tutorials to help them tackle some of the more difficult financial topics as they create their budget and manage their daily finances. If they’ve been struggling with bad financial habits, YNAB can help them break them by teaching them some basic financial management principles.

The software automatically connects to their bank account, integrating their spending data for analysis and budget tracking. They can monitor their progress toward their monthly budget and take action if they are overspending.

5. Quicken 

Quicken is one of the most well-known personal finance software programs on the market. Customers can use the software to manage all aspects of their financial lives, including budgeting, debt management, savings goals, and even investment coaching. It also allows them to export their data to Excel, allowing them to manipulate and perform additional calculations on it.

Bill pay is one of Quicken’s more advanced features, allowing users to set up payments for their bills directly from the software. They can even use it to track the value of their assets in order to calculate their total net worth accurately.

Conclusion

What can you do to enhance the customer experience in your personal banking software? Here are a few ideas:  Add more features that make it easy for customers to manage their money.  Offer personalized support and advice from bankers who know them well. 

Give customers control over how they interact with the software, whether through chatbots, self-service options, or human interaction. Make sure your software is up-to-date and user-friendly on all devices. Keep track of customer feedback and update your software based on what people want. 

By following these tips and using personal banking software that puts the customer first, you can create an enjoyable experience that will keep them coming back for more! How have you enhanced the customer experience in your personal banking software?

Get in touch with SmartOSC Fintech to be consulted for more solutions on this issue.