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7 Ways Fintech Can Lift User Engagement with Personalized Videos

fin tech

The “Netflix Effect” is spreading like wildfire and now it has almost engulfed every industry under the sun. And fintech isn’t immune to it at all. Consumers nowadays want their bank, payment apps, or any fintech product to understand them like Netflix.

 

Just like how Netflix learns what you enjoy watching, consumer wants their fintech corps to learn about them and use that to help them with better management of their money, interest rate, stocks, and the like.

 

For fintech companies, making customers happy is super important. And why not, consumers have at least 5 choices for everything. That’s why being the best at making customers happy is a big deal, and personalization is a big part of this.

 

This is where video personalization at scale platforms like Gan.AI come into play, empowering Fintech Corps to deliver unparalleled personalized experiences that foster long-lasting customer relationships.

 

Fintech Corps can use Gan.AI’s cutting-edge AI models to create millions of personalized videos tailored to each user’s unique preferences and behaviors.

 

This level of personalization not only enhances the overall CX but also makes customers feel that corps have a deep understanding of their financial needs, building trust and loyalty. 

 

Below are 7 use cases for payment wallets, stock brokerages, crypto apps, and others fintech corps can use:

Use Case 1: Personalized Onboarding and Feature Exploration

The onboarding process is a critical touchpoint for Fintech, setting the tone for the user’s overall experience.

 

Corps can create personalized video walkthroughs that guide users through the app setup process, highlight relevant features based on their preferences, and provide valuable insights and tips for maximizing product potential.

Video Script Example:

 

Welcome to @Payment Wallet Name, @User Name! We’re thrilled to have you as a part of our community.

 

To help you get the most out of your new digital wallet, I’ve put together a personalized walkthrough that highlights the key features and services relevant to @Specific Use Case.

 

This video will guide you through setting up @Specific Feature and provide valuable insights on how to optimize @Key Metric.”

Use Case 2: Personalized Financial Literacy and Budgeting Tools

Empowering users with financial knowledge and budgeting tools is a key differentiator for payment wallets, banks, and investment apps.

 

Corps can create tailored educational videos that address each user’s specific financial concerns and goals.

 

These videos can cover a wide range of topics, from budgeting and saving strategies to investment advice and credit management, positioning the fintech company as a trusted financial partner.

Video Script Example:

 

As a valued user of @Fintech Name, I wanted to share some personalized insights on @Specific Financial Topic that could potentially benefit you.

 

Based on our understanding of your @Financial Goal/Situation, we’ve created a tailored video that covers @Key Concepts/Strategies.

 

Our goal is to empower you with the knowledge and tools you need to make informed financial decisions and achieve your long-term objectives.

Use Case 3: Personalized Offers and Cashback Promotions

Offering personalized deals and cashback promotions is a powerful way for payment wallets & apps, credit card companies, and banks to drive user engagement and loyalty. 

 

They can create compelling and personalized offer videos that directly align with each user’s spending patterns, preferences, and interests.

 

These videos can showcase exclusive deals, highlight potential savings, and incentivize increased usage of the product/service.

Video Script Example:

As one of our valued users, I wanted to share an exciting new promotion from @Fintech Name that could potentially benefit you. 

 

Based on your recent @Shopping Category transactions, we’ve curated a personalized @Cashback/Discount offer at @Merchant Name.

 

This exclusive deal is tailored just for you and could help you save @Potential Savings Amount on your next purchase.”

Use Case 4: Personalized Reminders and Bill Payment Notifications

Timely reminders and bill payment notifications are essential for ensuring a seamless user experience with payment wallets.

 

Payment wallets can create personalized reminders that not only capture the user’s attention but also provide valuable context and information. These videos can include due dates, payment amounts, and even personalized tips for better financial management.

Video Script Example:

 

Just a friendly reminder, @User Name, that your @Bill Type payment of @Amount is due on @Due Date.

 

To avoid any late fees or service interruptions, we recommend making the payment through your @Payment Wallet Name wallet.

 

In this video, we’ve also included some helpful tips on how to set up automatic payments and track your monthly expenses more effectively.”

Use Case 5: Personalized Loyalty and Rewards Programs

Building user loyalty is a critical component of any successful payment wallet, credit card, or stock/crypto brokerage strategy.

 

They can create tailored loyalty and rewards program videos that highlight each user’s progress, achievements, and potential benefits. These videos can showcase personalized rewards, exclusive perks, and incentives, fostering a sense of recognition and encouraging continued engagement.

Video Script Example:

 

Congratulations, @User Name! You’ve reached a new milestone in our @Loyalty Program Name.

 

As a valued member, we wanted to share this personalized video highlighting your achievements and the exclusive rewards you’ve unlocked.

 

This includes @Personalized Reward 1 and @Personalized Reward 2, tailored specifically to your preferences and spending habits.”

Use Case 6: Personalized Security and Fraud Prevention

Ensuring the security and trust of users is paramount for Fintech providers. Fintech Corps can create tailored security awareness videos that educate users on best practices for protecting their financial information and identifying potential fraud.

 

These videos can be personalized with real-life examples, tips, and step-by-step guidance, fostering a sense of confidence and trust in the payment wallet’s security measures.

Video Script Example:

 

At @Fintech Name, your financial security is our top priority. That’s why we’ve created this personalized video to help you stay vigilant against potential fraud and protect sensitive information.

 

In this video, we’ll cover @Specific Security Topic, e.g., identifying phishing attempts, securing your device, etc. and provide practical tips tailored to your @User Profile/Behavior.

 

Together, we can ensure a safe and secure digital payment experience.”

Use Case 7: Personalized Cross-Selling and Upselling

Cross-selling and upselling additional services are crucial for maximizing the lifetime value of users for fintech users. 

 

They create compelling and personalized product and service recommendations that directly address each user’s unique financial needs and goals.

 

These videos can showcase how additional offerings can complement and enhance their existing experience, driving increased adoption and revenue.

Video Script Example:

 

As one of our valued users, we wanted to share an exciting new offering from @Payment Wallet Name that could potentially benefit you.

 

Based on your recent @Transaction/Behavior, we believe our @New Product/Service could help you @Key Benefit, e.g., earn more rewards, streamline payments, etc.

 

In this personalized video, we’ll highlight how this new offering integrates seamlessly with your existing wallet, providing a tailored experience that aligns with your financial goals.”

Parting Thoughts

Days aren’t far away when the fintech corps will start to suggest services and tips to you before you even ask. Instead of waiting for you to come to them, they’ll offer you the right services or advice based on what you need. 

 

Fintechs will need to work on creating a holistic personalization strategy. We have covered how to go about creating a personalization strategy using the 4W framework in the article here: How To Build Your Personalization Strategy Using The 4W Framework

 

Further, video personalization at scale offers a powerful competitive advantage. Given that videos are the most favored communication medium in 2024, Fintech can use personalized videos to deliver a level of personalization that resonates deeply with its users.

 

Editor Recommendation: A Comprehensive Guide on How to Choose The Right Video Personalization Platform

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