Insights

The power of self-service

October 15, 2021

Adopting fintech to drive business efficiencies and to improve client service is not a new concept. According to a report by The Global City* published in February of this year, 82% of global financial services firms expect to increase fintech partnerships in the next 3-5 years. Alternative digital banking will certainly be one of these.

So which of the cutting edge developments in the alternative digital banking sector are the ones to look out for?

I’d say one of the key features to look out for is self-service.  But what do I mean by that?  Self-service is the ability to be in control of your platform, your registered users and authorised signatories as well as being able to open new accounts almost instantly.  In a business where you may be running multiple, multi-currency bank accounts for hundreds, if not thousands of your own clients, the time it takes to administer changes to the platform could be better spent on other tasks. 

Rather than making online requests of your digital banking provider, imagine being able to make those changes inhouse, immediately? Having the ability to alter permissions in real time, reflecting if your administration team grows or changes or if a team member leaves the business, is a game changer. With EWG’s dynamic and flexible technology, you can.  

Upon set up of your platform, individual user’s permissions are aligned with your Board’s exacting control requirements and authorised signatory specifications. With the EWG platform we can give an authorised individual the permission to make any further changes themselves. From an administrative perspective both set up and maintenance are therefore extremely intuitive, process efficient and highly scalable.

The concept of self-service has other advantages too. Not to mention the advantages of being able to make real time changes from a compliance perspective.

At EWG we are constantly evolving our platform, introducing new functions that make our clients lives easier with the aim of further enhancing their ability to deliver the best client service.

*Operated by the City of London Corporation

To find out more about the power of self-service, and how EWG can help you drive business efficiencies and improve client service, please contact Warren Sanders, Director, on +44 (0) 1534 601212 or email warren.sanders@ewggroup.com

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