SAN Bruno, California-headquartered software company Freshworks Inc. plans to position itself in the local financial technology (fintech) market via its customer experience (CX) technology.
Simon Ma, Freshworks Director and Regional Manager of Sales for the Association of Southeast Asian Nations (Asean) region, told the BusinessMirror the messaging chatbot of the software-as-a-service provider (SaaS) provider allows fintechs to offer better CX.
Ma claims the technology “also increases operational efficiency and saves costs.”
He said the company’s messaging chatbot—a software that simulates human-like conversations with users via text messages on chat—has helped an Indonesian fintech firm achieve a 98-percent customer satisfaction score (CSAT).
Ma said the Indonesian fintech is complemented by their customer relations manager (CRM) offerings, which allow financial services and customer data platforms (CDP) to monitor complex customer records, such as banking history, credit scores, transaction activity, payment preferences and financial goals.
“The CRM also allows our clients to store and update this information based on their unique interests and needs,” Ma said. “In the fintech world, our offerings assist clients in predicting customer needs and creating personalized experiences through product recommendations and financial forecasting.”
He added that by leveraging these technologies, their clients “are sure to gain a competitive edge” in terms of operations and revenue.
Ma said the firm’s CRM software “ensures that customer data and activity history will be available across multiple touch-points” within the client organization, “be it with sales, marketing, or support teams.”
ACCORDING to Ma, employees of a fintech firm using Freshworks’s technology “will be able to provide a better, more engaging and more relevant customer experience, which consolidates customer loyalty and retention, to drive business growth.”
By partnering with support software, a company can gain context on a customer’s past interactions and help them address their issues more efficiently, he added.
“You can also track the customer journey and data across multiple stages of the transaction, whether it is a loan, deposit, or investment,” said Ma. “This way, your organization will gain a holistic view of where each customer is, across the pipeline, where there are bottlenecks and what strategies need to be implemented to assist with initiating or closing transactions.”
Ma said their CRM technology also helps fintech firms facilitate engaging communication with customers by letting them set up personalized campaigns and emails, such as wishing them on their birthdays or anniversaries or promoting relevant products and services.
These campaigns and emails allow fintech firms to engage customers and build a rapport with them, he added.
Although Freshworks has a strong customer base in the Southeast Asian market and among the verticals, Ma stressed that fintech has been a major focus as it has been has been experiencing rapid growth and interest in this segment.
As FinTech customers continue to evolve their business and extend their services to a wider spectrum, we can help them create personalized experiences for their customers, Ma said.
Ma said creating personalized sales cycles is crucial for generating key data points and using them to craft individual campaigns based on each customer’s unique needs.