Technology's great leap forward
ChatGPT has shone a spotlight on AI's — and, more specifically, large language models' — many applications.
With an average response time of 15 to 20 seconds, and its ability to identify subtle patterns, formulate tailor-made responses, and continuously learn, adapt, and improve, it's ideal for a huge range of use cases. Including digital banking research.
Our proprietary AI engine, FinTech Insights GPT, continually feeds our comprehensive, digital banking database into a specially-trained large language model. This means it can parse through 500,000+ user journeys and provide you with complete, accurate answers near-instantly.
More to the point, while we've worked hard to make FinTech Insights as intuitive as possible, every software has a learning curve.
FinTech Insights GPT, by contrast, is as familiar as texting a friend. And if it needs more data, it keeps prompting you.
FinTech Insights GPT in action
Here's how simple using FinTech Insights GPT is.
Say you're an American credit union that wants to benchmark its mobile app.
Traditionally, this would entail compiling a list of competitors, gathering information — either from industry reports or by trying to open an account with each competitor — and manually reviewing the data.
That's easily several months' worth of work, with no guarantee of success. Reports can be incomplete or outdated. And you might not be able to open an account with every competitor, since credit unions have eligibility requirements.
FinTech Insights makes the process much easier. There's no need to open accounts with all the credit unions you want to study. And the information is always current. But while the process is up to 60% faster, it still takes time to gather the data: around one hour per feature.
FinTech Insights GPT, on the other hand, can return information on several features with one click.
Say you want to see the five must-have mobile banking features in the US, for instance.
Type the question in the message bar. You'll have your answer before your fingers leave the keyboard:
Same if you want to check if a competitor — regional bank Truist, for instance — offers these must-have features (FinTech Insights GPT says it has all of them).
Worried this won't be enough to persuade your bosses to approve work on these features?
Ask FinTech Insights GPT how your credit union compares to Truist now, and how the market position would change if you offered more mobile banking features.
1, 2, 3… and there it is. A graph that charts your progress.
Best of all, bringing up the most user-friendly implementations is a snap.
Say you're implementing "replace a damaged card".
Prompt FinTech Insights GPT to "Show me the 5 best implementations for Replace Damaged Card in the US market." Just like that, you'll get the top five:
Click on view for a step-by-step walkthrough of each bank's implementation.
In digital banking research, faster is better
What if you could focus on what's important — building outstanding digital user experiences — instead of pouring a large chunk of your resources into research that, all too often, turns out to be incomplete and inaccurate?
How much time, money, and effort would you save? And, more importantly, how much faster could you roll out market-beating products?
Banks roll out features every four to six months. With most fintechs on two to four week rollout cycles, this pace means they're always on the back foot.
Our clients say FinTech Insights speeds up launch time by up to 60%. FinTech Insights GPT can give you an even bigger boost. Instant — and accurate — answers mean faster deployment, and better outcomes for you and your customers.
Want to see how FinTech Insights GPT can speed up research time and help you build outstanding digital banking features?
Book a FREE, no obligation demo.