Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
5 Things Any Client Would Want in a Financial Institution
Guest Post | Sep 20, 2021
Loan facilities are the ultimate solution to many problems, especially those involving accidents and natural disaster. Nevertheless, one could hesitate a little before deciding to opt for loans and financial support, unless, of course, they find the below facilities offered by an institution.
Low Interest Rates
Interest rates are the first thing that might pop in a potential client’s mind at once when they want to consider getting a loan of any type. Clients would truly wish for the lowest possible interest rates because it surely is no fun paying a lot, is it?
See: John Ruffalo Interview: Resiliency in Uncertain Times
The interest rate offered by a financial institution is usually what will determine a client’s decision, that is, whether or not they should go ahead with the specific institution for their loan requirements. Thus, the lower the rates are, the happier the client, and the higher chance that they’d choose the specific service.
Simple Application Procedure
Let’s not deny it, complex application procedures do not appeal to any client, especially to those in need of urgent financial support. There is a high chance of financial services losing their clients owing to this reason alone. Clients usually seek urgent financial assistance when they are in some kind of trouble. In such situations, dealing with other complexities is the last thing they’d want to, or be able to do. Thus, the simpler the application procedure is, the likelier the client will choose the service.
Quick Approvals
As mentioned previously, clients do not wish to waste time. In fact, they cannot afford to. The reason they look simple procedure is obviously, because the whole process becomes quicker. When a client has applied for a loan, they want to receive approvals at the earliest. Thus, any financial company that offers the facility is always going to be a client’s first preference. There might be so much that a client may have got to do with the money he has borrowed, and so, the sooner things work out for him, the better for sure! Look up litigation funding Canada has many such services. You can find the best and fastest ones available.
No Hidden Fee
It is true that clients fear being charged with hidden fee when it comes to loans and financial dealings with institutions. Such things are serious matters to clients, and ideally, shouldn’t be happening with them when they’ve placed their complete trust in an institution for support. Any fee being charged, whether in connection to your auto accident loans or something else, needs to be communicated to the client. So do the rest of the terms and conditions.
Multiple Services
The availability of multiple services is always seen as a great benefit by clients. In other words, nothing can be more relieving and fulfilling to a client if solutions can be offered by a single organization to their multiple problems. There are many financial institutions who offer wholesome services that clients benefit from hugely. In fact, some may look for such institutions more particularly. Therefore, Companies offering a range of quality services are likelier to draw more customers, naturally.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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