Blog Post

We’ve re-engineered our platform in response to the changing digital banking landscape

As the financial services ecosystem continues to shift around us, we’re proud to have launched Ezbob Express, our new high-speed, data-driven customer acquisition platform.

It’s a modular SaaS platform that delivers more customers to companies, in a more profitable way. The advanced cloud-based modular design offers unmatched deployment speed and flexibility – which is exactly what today’s financial institutions need to stay at the forefront of their customers’ thinking.

It has also enabled us to move beyond lending and account opening solutions to offer our clients support on a wider array of financial services products, such as overdrafts, credit cards and asset finance.

Meeting the need for speed

The simple reason behind this re-engineering of Ezbob’s platform is that our technology is now required by all parts of the financial services industry.

Whilst the industry has been exploring digital transformation for more than a decade, it’s fair to say that the COVID-19 pandemic has effectively exposed both leaders and laggards when it comes to providing an outstanding digital user experience.

Repeated lockdowns have seen consumer expectations rise further. When it comes to their money, people now demand the same instant service and excellent user journey from their financial services providers that Amazon and the other big techs provide. And in an age of embedded finance, if financial institutions can’t meet these demands, it’s these big techs, who are now rolling out financial products, that their customers will turn to.  

This widespread consumer demand for instant decisions means there’s never been such a pronounced need for speed and accuracy when it comes to credit risk decisioning, a critical element in best-in-class financial services.

Financial institutions must become more agile, and they know it. The conversations we’re having with clients include the importance of intelligent customer acquisition where there’s a need to make the application and onboarding process as easy and intuitive as Amazon and Netflix – in addition to using analytics to generate data to provide a better customer experience and enhance profitability.

Supporting a larger industry

Ezbob Express helps companies in three key areas: offering financial services companies the flexibility of filling gaps in their digital transformation strategies by harnessing its modular design, enabling them to make complex credit and risk decisions at lighting speed, and facilitating the growth of embedded finance by adding financial services to almost any sales process.

As a leading innovator in customer acquisition technology for financial services, Ezbob has made its name by providing digital onboarding services for a host of banks and financial institutions, including Metro Bank, Santander, and NatWest.

Yet as technology inexorably advances, the emergence of embedded finance, which enables both existing financial services providers to extend their product offering and non-financial services companies to start providing banking services, has also become an important growth area.

With the support of solutions like Ezbob Express, any company – regardless of sector – can embed a financial service into their purchase process, including opening customer accounts, credit card applications, and consumer and business loans. Thanks to its proprietary AI-enhanced decisioning algorithms, Express can make precise credit decisions in real time, providing customers with instant, personalised offers.

The particularly unique aspect of the Express product is that it enables clients to transform their customer onboarding into a streamlined, automated digital journey by reducing customer input by 75% and increasing completed applications by 400%. It’s a quick and seamless journey.

We’re confident that Ezbob Express’ modular approach enables financial institutions, and non-financial brands that wish to integrate financial services into their offering, to add the functionality needed to achieve a best-in-class digital experience. I invite you to get in touch to discuss how we can meet the specific needs of your organisation.