A Q&A with Jesse Swash, Co-Founder.

Twelve months on from the start of the pandemic and the first lockdown, have banks embraced technology enough to accelerate digital transformation to better serve customers, especially the underserved?

The most powerful thing about technology is its incredible ability to reach seamlessly deep into every aspect of our lives. Harnessed in the right way it can be an incredible force for good.

Just think how easy it is to now book a taxi, grocery shop, book a flight or pay for your TV license. Can any of us imagine returning to queuing in a post office or standing in a long line at Tesco?

Technology thought of in this way is an incredibly powerful way to reach everyone, the over-served and the underserved alike. Technology can make services, that were previously relatively arduous and sometimes downright in-accessible, easier to access, understand and use.

This kind of digital transformation through the application of technology works best when it’s aligned with the needs of the user or in this case the customer.

Want an example? Just think about the new banks. A significant part of their allure is in their ease of use. Back when we could all meet for dinner splitting the bill was a headache. Monzo, recognising a real customer pain point, solved this problem with a swipe of a thumb, and with impressed colleagues and friends rapidly becoming new customers and advocates, it drove further adoption and reach for the disruptor bank brand.

The new brands, downloaded, clicked, and swiped, are the key to reaching everyone. In many ways this change has already happened and is accelerating in the times we’re all living through right now – and will continue to live through for the near future.

Harness technology in this way and the question is then, what are you trying to communicate and what action do you want them to take? Because reach and access are no longer a real problem.