AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Fintech Insider Podcast by 11:FS
930. Insights: How do fintechs build loyalty? With Monzo and Yonder
Jan 23, 2025
Vuokko Aro, Chief Design Officer at Monzo, and Tim Chong, Co-founder and CEO of Yonder, discuss the evolving landscape of customer loyalty in fintech. They explore how emotional connections and referrals drive user advocacy, particularly among younger generations. The conversation highlights the shift from traditional banks' cash bonuses to fintech's focus on meaningful engagement and personalized experiences. Aro and Chong emphasize the need for genuine relationships and tailored strategies to build lasting loyalty in an increasingly competitive market.
46:46
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Loyalty in financial services is increasingly based on emotional connections, requiring banks to engage meaningfully beyond mere transactions.
- Younger consumers favor fintech solutions over traditional banks, emphasizing digital features and peer recommendations in their banking choices.
Deep dives
The Importance of Diversifying Financial Relationships
Keeping all your financial resources in one place can lead to significant risks, similar to the idiom of putting all your eggs in one basket. Spreading savings across multiple banks enhances security and maximizes returns, allowing individuals to minimize risk and gain flexibility in their finances. With advancements in technology and the rise of fintech companies, consumers can now easily manage accounts across different institutions, effectively diversifying their financial portfolios. This trend underscores the importance of a strategic approach to savings and financial management.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode