At Chime, they claim to firmly believe that their members’ experience with our products is at the core of their success.
That’s why Chime claims it continuously goes the extra mile “by investing in simple, beautiful, easy experiences that allow their members to control their money and make progress towards their goals.”
At every turn, Chime says they “work to best serve members’ needs—and exceed their expectations.”
Nic Cadwallader, Chime’s VP of Member Experience, said:
“Being as close to our member base as possible is at the heart of our long-term success because they have so much potential to drive innovation and ensure we’re being thoughtful about what we create and meeting their needs. Our members are the people who will give us great ideas or tell us when something isn’t working. We talk about being member obsessed, and we are—and one of our goals is to build a Chime they are as obsessed with as we are with them.”
A considerable part of Chime members’ experience is their trust in the firm, which is foundational to their business and, “as a result, their number one priority at Chime.”
Their customer service team works daily “to help their members succeed, by providing helpful resources, critical account support, and responding to member needs as they arise.”
They work both proactively and reactively “to ensure that their members’ accounts are safe—so they always have peace of mind when it comes to their money.”
At the beginning of 2023, they designated this “The Year of the Member,” and their commitment to their members has not gone “unnoticed.”
In fact, it’s been “a monumental year for Chime—they’ve received numerous industry accolades and recognition for a customer-centric approach.”
The firm claims that Chime has been “one of the most downloaded banking apps in the US2 (Peer set large banks and Neobanks) since 2020.”
Considering the competition among large banks and neobanks, they’re especially proud of this one.
The update also mentioned that Chime’s journey towards customer excellence is not just about winning awards; it’s “about delivering on a promise to our members.”
Their commitment to providing an outstanding member experience is “a daily practice, not just one to be marked with an award or achievement.”
They’ve created a suite of financial services products “that directly address the needs of everyday people to help them unlock financial progress—and their members’ financial well-being is at the heart of everything we do.”
Although Chime and other Fintech challengers have been working hard to improve the financial system, there’s still a lot of potential to provide better services to consumers. It has become clear, especially after the major banking crisis, that traditional financial institutions are going to need a lot of help as we head into 2024.
Regulatory compliance, frictionless onboarding, and seamless user experiences are going to be key when it comes to driving the industry forward in a sustainable manner. The modern consumer does not have a lot of patience, and are being presented with a large number of competitive options. That’s why it will be the survival of the fittest.
Fintechs are increasingly competing by providing smoother cross-border transfers, instant local payments, improved B2B services, flexible payment options like BNPL, attractive deposit rates, and by offering widely accepted payment cards.
In 2024, we are likely to experience a significant transformation of the financial services sector, which has been accelerated by the COVID outbreak of 2020.