The future of financial services: implementing customer journeys

“Focuses on technology and a personal approach to an extremely friendly customer journey. That’s where the future lies,” says John Koetsier (managing director of N26 Holland). “A lot is happening in the mortgage world. A number of things are of course very clear: Digitization and sustainability, for example, are high on the agenda of all mortgage lenders.”

These are the words of John Koetsier, CEO of N26, a European neo-bank that entered the market in 2013 as a FinTech start-up. The company is headquartered in the German capital Berlin and is active in 24 European countries with 10 different offices in Europe and more than 1500 employees with 80 different nationalities.

The focus is on a new approach that is mainly about customer experiences: everything is managed from one manageable app. Simplicity, transparency and efficiency are the 3 most important pillars of the N26 customer journey. Since its launch in 2015, more than 7 million European customers have chosen N26 as their daily bank.

Koetsier is part of the panel (of the Outvie Mortgages Event) where the step forward in financial services is discussed. Themes covered are: neobanks: the emergence, opportunities and benefits; prospects in financial services; change of roles in the chain; where is the ‘sweet spot’ of customer journey and other forms of collaboration and customer loyalty thanks to the accelerated spread of digital services.

Trend: harmonization of European rules

“If I zoom out, I see more at European level, I expect more harmonization at European level and fewer differences in national legal requirements, which allows us to make local implementations more uniform. The importance of harmonization, which we again experienced for recently, in a broader context, is one of the EU’s biggest challenges. “

“Specifically for banks, harmonization at European level creates the opportunity to benefit from a larger domestic market and to be able to offer a counterweight to banks from America. An example of a consequence of this at the local level is taxation. In the Netherlands, under European pressure, it has “For example, consider abolishing the interest deduction on mortgages. It is a slow but certainly progressive process.”

“We in the Netherlands are a guide country in the European mortgage market and can benefit from this trend. On the one hand, we have already come a long way with communication throughout the mortgage chain. On the other hand, we are also the leader in Europe in terms of product technology, looking at digital acceptance. reaping the benefits together at European level. “

“My vision for the future? That you see a house for sale with a QR code. You scan this with your smartphone, you give permission to share your data and within 5 minutes you get clarity on what you can do financially and “not complete with advice and a binding offer. This example shows the potential of mortgages when data and technology are combined with the expertise of people in a specialized team,” says Koetsier.

Fully digital with a focus on the customer

“For example, we do not work with physical bank branches ourselves, we are a fully digital bank. Our mortgage offer also becomes completely paperless: We offer a digital customer journey where we support the customer and advisor as much as possible via various contact channels. We are reasonably far in, we want implement all current digital capabilities if they add value to the customer journey. “

“In addition, we will take the lead in embracing and implementing new initiatives, of course taking into account legislation and regulations. Of course, the theme of sustainability is also an important part of our policy. At the same time, I dare say that we reduce the proportion of mortgage lenders in, should not make the issue of sustainability bigger than it is. I believe that, above all, we can play a role as a catalyst for going through the necessary transition together. But that transition we do not reach alone, we really need to do it together with chain partners. “

“A customer journey where people experience control over the process at all times, both at the end of the financing and subsequently.”

“We focus on financially facilitating the house’s sustainability, we leave the advice to specialized parties. We do not focus on a specific target group, but on offering a friendly, transparent and simple digital customer journey where the customer is in control and is consciously committed. in making economic choices. “

Chain parties work together

“Visitors to the Mortgage Event are all parties in the chain. It is interesting to see these parties gather there. Hopefully it will inspire us to work even further together,” Koetsier continues. “Non-participants lack substantive knowledge, such as the latest developments in the development under discussion, the place that certain companies are given in the value chain and, of course, the new technologies that are being presented.”

“I also expect that new entrants to the market will be discussed and that it will be clear how they view the specific market. For example, as mentioned earlier, it is important for the N26 to make explicit use of the latest technology with the aim of giving the customer the best possible journey, a customer journey where people experience control over the process at all times, both during the financing process and afterwards. “

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