Fintech Insights is a “superpower” that delivers comprehensive digital benchmarking, giving customers like US Bank, Bank of America, and UBS a window into how their competitors are building features.
Incumbent banks and fintechs alike want to understand how their features and experiences stack up against those of their competitors; this platform gives them a real-world look at all the digital tools on the market.
Fintech Insights is winning customers by letting them compare every single one of their digital features to those of their competitors – and see what experiences they’re missing.
The idea is simple: The company’s platform includes details about (and videos of) over 500,000 different “user journeys” – from onboarding to fund transfers – from hundreds of digital banks and incumbents. Customers can search the site by company or product to see all the features and functionality that their competitors offer.
Traditionally, banks have only conducted benchmarking or gap analysis a few times a year, Fintech Insights executive Nickolas Belesis told Insights Distilled during the Finovate conference. But the platform allows them to conduct competitive analysis on the fly, leading to better product road-mapping and testing.
By giving banks a clear-eyed, comparative view of their user experiences, the platform is helping them up their game and deliver better products. The firm’s clients include UBS, Bank of America, Fifth Third Bank, Zelle, ING, and US Bank, whose exec called the platform “an invaluable resource for our product teams in prioritizing our product roadmap.”
“The teams have more confidence that the design of new or improved features will be best-in-class,” VP William Calice told Insights Distilled, adding that users at the bank have described it as “a digi-superpower” and “the coolest tool” they’d deployed at work.
Fintech Insights updates its feature logs and videos every week and is always adding new banks and fintechs to its libraries, Belesis said.
“We’re the gold standard of digital banking,” he added. “Everything is up to date.”