Help Yourself! Which Digital Banking Topping is for You?

Help Yourself! Which Digital Banking Topping is for You?

Leandro Gimeno

Business Development Manager at Strands

Views 504

Help Yourself! Which Digital Banking Topping is for You?

23.11.2016 10:45 am

Banks work hard to improve UX and innovate.

The majority of innovation initiatives focus on digital wallets, hiring UX consultancy services, adopting omni-channel technology, or improving mobile banking. On the other hand, perception vastly differs when you ask retail customers how they would rate banks in terms of innovation.

On this digital journey, banks want to streamline digital operations into mobile banking and save customers from having to visit branches. Likewise, customers don’t want to go to branches in person either, but rather, expect to manage their needs and requirements online themselves. 


Customers will usually request:

Screen Shot 2016-11-17 at 15.53.14.png

Banks tend to think that personalization comes from big data analysis, financial advice, robo-advisors, and user experience, all blended in a nice, fancy, colourful front end. To sum up, what is the real, tangible difference that banks can offer as innovation? 

Actually, aren’t all banks adopting e-payments or intelligent offers in a nice app just like most banks now? If omni-channel means “here’s my functionality, use it for whatever you need,” what will make your bank more successful? 

Innovation then brings the conversation back to this question: “What do you want your digital banking to be like? Imagine suggesting to a customer: “Build your online banking the way you like.”

This then brings us to the concept of ‘topping’, much like we choose the add-ons for our favourite ice cream scoop.  Banks can offer customization settings so each user can pick and choose whatever they find more effective for managing their daily finances.

Strands is the leading innovation company serving more than 450 banks worldwide, allowing banks to give customers a set of omni-channel financial tools to “customize online banking their way,” adding personalised topping  to suit their taste.

Imagine an online banking solution where customers can get an automated set of Expense and Income Categories, where each user can create their own sub-categories, set their own rules, and create their own budgets and goals, to decide what and how they would like their online banking user experience to be.

Screen Shot 2016-11-17 at 16.10.05.png

PFM (Personal Financial Management) is a proven technology, based on machine learning that allows users to set their own rules, in order to get personalised advice about their financial goals and performance.

PFM allows banks to let users add whatever “topping” they want to bolster their financial management  needs. Help yourself! Which topping is for you?


This article originally appeared on

Latest blogs

Shuvo G. Roy Mphasis

Reboot 1.0: How financial services technology can enable the supply chain to support a post-lockdown boom

Ground control and Captain Tom When veteran Captain Tom Moore decided to walk one hundred laps of his garden before his 100th birthday to raise funds to support NHS heroes battling Covid-19 from the frontline, he never imagined that he would Read more »

Lisa Gutu Salt Edge

Building a PSD2 compliant channel: challenges and opportunities for financial institutions

PSD2 obliges ASPSPs including banks, e-wallets, prepaid cards and other companies that offer payment accounts to provide at least one channel for secure communication with third party providers (TPP). Even neobanks or e-money institutions, including Read more »

Thomas Pintelon Capilever

Credit origination - A lot of innovation on the horizon

While consumer credits are becoming more automated and user-friendly to request, all other credits are often still very manual and labor intensive to originate. In this (relatively long) blog I will try to give a description of the (potentially Read more »

Kelly Kearsley

Time Card Theft is a Big Problem. Here's How to Stop It.

Trust is at the core of every employer-employee relationship. You trust your people to do their jobs, and they trust you to compensate them for their work. Most of the time, it works. However, there's always the person looking to bend the rules or Read more »

Daria Afanasyeva UTP Merchant Services Ltd

Cybersecurity – Online payments are getting more secure

Ever since we've been able to buy anything we need with just a click of a button on our laptops or phones, online sales have been consistently increasing each year. Just last year, the total value of UK retail sales was £394 billion, with an average Read more »

Related Blogs

Habib Hanna Diebold Nixdorf

Accelerating Transformation at a Time of Uncertainty

As with every industry in every country, the world of banking has been disrupted to its core in recent months. Consumers have been unable – and in some cases, unwilling – to complete banking processes in person, and the reality is that some Read more »

Alex Malyshev

The Biggest Danger to Branchless Banking

With a third of the global population on lockdown and scores of bank branches closed, many are convinced that branch banking is dead, and the future is branchless. Is this really true? Read more »

Aoife Crean Strands

If It’s So Good, Why Hide It? Invisible PFM - A New Take on Money Management

Banking has gone undercover and it’s been a long time coming. We want our banks to do a lot for us, but it transpires that the less you can actually see your bank doing for you, the better. So, it begs the question: why would banks suddenly decide Read more »

Vaida Pakulyte Strands

Dear Banker, We Need to Talk About UX

Design has changed (and even transformed) a lot of industries: music, technology, electronics, fashion. And not surprisingly,  the financial industry is not immune to their impact. Read more »

Estefania Gual Strands

It’s Not About Millennials

As of 2015, the generation known as ‘millennials’ – those born between 1981 and 2005 - is the largest generation in history, surpassing the so-called Baby Boomers, one of the most important generations of our time, according to Pew Research Center. Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel