Financial services
Win new customers and drive active account use
There is no limit to the ideas you can bring to life with subscription bundling powered by the Bango Digital Vending Machine®.
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Banks, credit unions, wallets / card providers and other financial institutions find it hard to win new customers and grow customer value, facing many challenges:
- Personalization: Generic financial products don’t appeal to today’s customers, who expect highly personalized services tailored to their individual needs and life stages.
- Transactional relationships: Many financial institutions focus on transactional relationships rather than building long-term, value-driven engagements with customers. Banks that don’t engage customers regularly with customers risk losing them to more proactive competitors.
- Low contact frequency: Regular, value-added interactions help reinforce the relationship, providing cross and upsell opportunities.
- Switching costs: As financial services become more commoditized, customers are more willing to switch providers for better interest rates, lower fees, or improved services, making retention more difficult.
- Undifferentiated rewards: Loyalty programs need to offer compelling rewards that resonate with the customer base. Programs that are too generic or have limited value fail to build customer loyalty.
Making finances fun
By combining the necessary nature of personal finances with the freedom to choose from a limitless range of subscription services, your customers will start to discover that there is fun in their finances.
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By incorporating subscription offers into banking products and services, you can drive relevant customer behavior.
- Move customers from free to paid packages and up through membership levels
- Increase engagement with your app: Build loyalty and upsell additional services
A few examples:
- Offer Amazon Prime when a customer takes out a home improvement loan
- Gift a Netflix Premium plan to customers when a family member opens an account
- Give customers a week of Disney+ when they top-up their wallet with a defined value of spend on specific things
- Give Spotify for free with every car loan
- Discount a wide range of subscription services for each month funds are moved into a savings account
Key benefits
- Speed to market: Get to revenue faster, launch in weeks rather than months. Hit the ground with the best tech to make onboarding a breeze
- Platform benefits: Transparent, predictable cost of ownership. New features, upgrades and content provider changes included. Eliminate unexpected service fees. Early access to new content providers and subscription products
- Simplicity: Quickly add new subscriptions partners through the DVM™. Let the DVM handle the complexity of subscription offer management, pricing, durations and payments.
- Offer optimization: Leverage data insights to optimize offer creation, customer segmentation, and boost conversion rates. Create subscription offers to match subscribers needs and preferences.
- Connect once and scale: Remove the need for multiple one to one integrations. Connect once, access an ecosystem of over 100 of the worlds leading content providers, all through one DVM.
- Configurable CX: Powerful, configurable consumer interface. Minimize effort, resources and time to setup, ensuring brand consistency and compelling user experience.
Powering the leaders
Join the world’s most successful content providers that rely on the DVM™ to bundle their product with over 80 telcos. Discover how leading subscription products including Netflix, Disney+, Amazon Prime, Duolingo and YouTube benefit from subscription content hubs including Verizon, Liberty Global and Optus.
Subscription bundling starts here
Accelerate growth and scale your business with Bango. Find out how you can reach and convert more online users to paying subscribers with the Bango Digital Vending Machine®.
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