How to build better fintech products through integrations feat. Gil Feig, CTO and co-founder of Merge
- Fragmented systems and journeys can limit financial firms' ability to offer smooth CX. Product integrations can provide a solution though.
- Merge CTO and co-founder Gil Feig discusses the company's role in product integrations and how these integrations can unlock 3 critical use cases for financial firms.
Financial firms face growing pressure to deliver products that meet the evolving expectations of customers.
Financial firms encounter 2 major challenges when it comes to customer experiences:
- Offering secure data access: Providing secure, high-quality, and controlled access to their customers’ financial data in order to provide valuable services on top of that data.
- Designing a smooth UX: Delivering a smooth UX, whether that’s allowing customers to make fewer mistakes when transferring data between systems or reducing the number of applications a client has to manage actively.
“We’ve learned [about these challenges] firsthand from our customers, which include Ramp, Revolut, and BILL,” says Gil Feig, CTO and co-founder of Merge. “A common denominator across these goals is the need for customer-facing integrations.”
Merge is a platform that helps firms integrate with clients’ cloud-based accounting, payroll, and HR systems.
Siloed systems and fragmented customer journeys often hinder financial firms’ ability to provide cohesive solutions and smooth customer experiences. Product integrations can offer a way to overcome these challenges.
That’s not lost on bankers. 69% of business leaders at mid-size to large banks rely on product integrations to delight customers consistently, while nearly 47% view them as essential for avoiding customer issues, according to a recent survey by Merge and Centiment.
So, how can financial firms optimize product integrations in the face of their backend technical challenges?
This is where companies like Merge can step in.
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