ANNOUNCEMENT: Appsynth has joined forces with Deloitte!
Appsynth helps financial institutions in Thailand and Southeast Asia to embrace digital innovation, shaping the future of finance through open innovation, embedded finance and customer experience excellence.
Market challengers, disruptive technologies, evolving behaviours and regulatory adjustments are reshaping traditional banking models. As technology changes the relationship between people and financial institutions, legacy strategies are no longer effective. Consumers are more willing to explore services from new providers, with 59% recently choosing a financial product from a provider other than their main bank, further diminishing loyalty to traditional institutions.
Modern-day users expect financial services that are quick to access, simple to use and tailored to their needs. To stay competitive, BFSIs are turning to digital-first strategies and leveraging data to offer more personalised experiences. Focusing on values like transparency, accessibility and inclusion, can help transform the perception of financial institutions being formal and complex to approachable and trustworthy.
To stay relevant, BFSIs will need to look beyond traditional products and standard digital offerings. By partnering with other ecosystem players, BFSIs can create more integrated propositions and platforms that blend banking and non-banking services across different touchpoints. This diversification—into wealth management, digital payments and other value added services—unlocks new revenue streams and deepens customer relationships.
Through embedded finance, traditional financial institutions can unlock new customer acquisition channels and reach untapped market segments by integrating services within partner ecosystems. This approach allows banks to meet customers at their “point of need” – on e-commerce sites, mobility apps and beyond – creating seamless, contextual experiences. Embedding services within non-financial platforms makes financial interactions a natural part of the customer journey, maximising conversions while helping traditional BFSIs stay relevant in today’s evolving market.
Improve verification and onboarding processes to activate new users quickly and securely.
Differentiate on experience to attract new customers, increase loyalty and boost transactions.
Open-up your platform through Super App expansion or distribute your services via partner applications.
Re-engage customers to drive adoption of new services and prompt desired actions.
Apply game mechanics to increase frequency of use and encourage desirable customer behaviours.
Use data to enhance user experience with relevant and targeted content and service recommendations.
Asset and wealth management firms in Southeast Asia are evolving to meet the demands of an increasingly affluent and tech-savvy client base. A growing trend is the integration of digital platforms and advanced analytics, enabling firms to offer more personalised, goal-based financial planning.
We partner with asset and wealth management firms to implement innovative digital solutions, helping them navigate these trends, seize new opportunities and stay competitive.
The growing adoption of AI and advanced analytics is enabling hyper-personalized services, while embedded finance and open banking initiatives are expanding the range of products and services banks can offer. With increasing competition from fintechs and neo banks, traditional institutions must modernise quickly and optimise customer experiences to compete with digital-first challengers.
We help retail banks reimagine their future, designing seamless digital experiences that not only meet today’s demands but also set the stage for tomorrow’s growth.
Industry trends are moving away from traditional financial products towards more customer-centric propositions, particularly in the health and life sectors. Wellness solutions bundled with preventive services are becoming increasingly common among insurers in Southeast Asia.
Demand is also growing for micro-insurance solutions embedded at the point of sale. Partnering with established digital platforms to design seamless, embedded experiences enables insurers to create contextually relevant customer touch points.
From retail banks to asset managers and insurers, Appsynth can help you innovate and grow.