FinTechs are dramatically changing the perception and function of banking. Banks find themselves having to transform into trusted brands and get to know their customers anew by getting close to their needs and understanding their working style. They also need to start providing real help in their areas of greatest need. Also, besides merely focusing on meeting the customer’s financial needs, they should additionally offer real-time, on-demand financial troubleshooting.
The introduction of PFE is the beginning of a revolution in relations between the bank and its clients. The insights that flow from it will primarily build new value for users, intrinsically bonding them with the bank. Along with the development of artificial intelligence algorithms, more and more sophisticated ways will emerge that will pre-empt their clients' behaviour and support them in everyday life. There will be ideas for dynamic adjustment of the bank's communication to key moments in the life of the user, providing summaries after international trips, gift expenses, car running costs since the last refueling or a summary of taxi expenses.