Category: Fintech

Dear Tech: Let’s Do Better

Big Data, Data as Property, Disruptive Technology, Fintech, Innovation, MarketingTech, Web/Tech, Women in Technology

We all want to believe in something larger than ourselves. We want to believe that our words, deeds and actions can make a difference in the world – what Steve Jobs described as “making a dent in the universe”.

But over the last decade, it feels like we have all been knuckling down, focusing on near term data – the next quarter, the month end numbers, the little things that allow us to scrape by week-by-week.

I’m not suggesting all these things are not important. After all, we do need to make our numbers, pay our rent, keep the wolves from the door.

But when did we give up on our dreams of creating a better place than the one we found ourselves in? When did the BIG picture become the landscape for our fears rather than our aspirations? Isn’t it time we re-evaluate?

If there is something that the last decade has taught us, it’s that complex change requires complex solutions. Sure, we can gravitate towards the simple slogan and an easy promise – but the simple truth is that change is hard. It requires effort. And that this future is already here.

The good thing is, is that we’re not alone in this. We have access to the best and brightest minds of our generation, right now. There are massive global corporations turning their attention to fundamental issues and a future that is full of opportunity not fear. It’s why I love this open letter from IBM.

https://www.youtube.com/watch?v=gNF8ObJR6K8

Technology was the defining innovation of the 20th Century, and it looks to be continuing into the 21st. This open letter represents not just an invitation, but a call for participation. Together we can make a difference in the industries that employ our populations and provide purpose and work – like finance, retail, telecommunications and healthcare. But the same rings true for government, the environment and society. Technology has the potential to impact poverty, wellbeing, education and even champion data rights as human rights.

It’s possible. We’ve just got to expect more from technology and the people who work with and in it.

Hey BizCover Insurance, Welcome to the Internet

Customer Experience, Financial Services, Fintech, Innovation

For the last few years I have been using BizCover for business insurance. It has been very competitive and convenient. Until now.

A couple of weeks ago, my bank noticed a suspicious transaction on my account and alerted me. After a quick call, we realised that it was entirely fraudulent – which meant that my card number had been compromised and needed to be cancelled.

Happily, the new card arrived within days and normal operations resumed. Except, of course, that regular payments had to be updated.

Which brings us back to BizCover.

As a small business owner, I seek convenience and flexibility. I look for the best deal possible. And I have recommended BizCover to many people – colleagues, contractors and other small businesses. Their rates are competitive and they are flexible. You can review policy options, check rates and signup online. It is a fantastic service.

Up to a point.

But what happens when things change? Surely, you can just login and update your details, right?

It appears not.

Now, it feels like I am making a mountain out of a mole hill. After all, tomorrow I will call and sort out the details. But I see this as a more instructive challenge for most digital businesses. Which – for better or worse – is all businesses.

We have spent the last decade figuring out how to get our customers to buy online – and we have done this relatively successfully. But now we need to go further. To figure out how to get them to remain our customers, and to serve them online.

Sure, this can be challenging when you offer a brokerage service. But that’s part of the deal.

If you want the sale, you’ve got to continue to service the channel.

It’s time that fintech – and especially insurance companies, brokers and stakeholders invested the effort to understand this new marketplace. It’s not just about the upfront dollars, but the ongoing relationship. This really is an internet driven commercial world now, and customer service and convenience should not be a special service. It just gives you a seat at the customer’s table.