Sparking Innovation takes a look at how Personal Financial Coaches have become the killer apps for companies trying to win customers in the retail banking space.
Who do you trust to provide you with the best advice about managing your finances? The traditional banks clearly feel that they own this space, but the rise of Open Banking and the increasing sophistication of AI has open the door to new entrants.
In the battle for retail banking customers, Personal Financial Coaches (PFC’s) are becoming ground zero. Players understand that winning this battle will define who thrives and who may not survive in the new banking world.
In this episode, we talk to Mandana Dilmaghani, Virtusa xLabs Service Design Lead, and Anil Awasthi, Virtusa’s head of Retail Banking about the evolving PFM space and how players like Toucan, Plum and Yolt are designing and delivering engaging solutions using emerging tech.