S P E C I A L I S T I N S I G H T
S P E C I A L I S T I N S I G H T
The editor of Intelligent Fin. Tech magazine sat down with Asanka Abeysinghe, Senior Vice President and Chief Technology Officer at WSO2, to explore how customer experience, AI integration and paradigm-shifting innovations like algorithmic trading are reshaping the financial landscape – and what CTOs need to know to stay ahead. believe it’ s a bank. They always say:“ Oh, it’ s a cafe. Why do you call it a bank?” And just like that, the entire experience changed.
What three rules for successful customer experience and customer interface for FinTechs would you never sway from?
1. Security
Due to the sensitivity of finance people should feel from the first touch they are touching a secure website because they are very sensitive.
With over 20 years in the industry, and having worked in the financial domain, you would have witnessed significant changes in FinTech. What has been the most exciting transformation you have observed?
When algorithmic trading came into the picture it was very interesting because the way we wrote those programs changed with computer science and the mathematical knowledge required. The performance was essential, because time sensitivity is vital in trading and requires real-time data and updates to keep up with these programs scaled, and it took us to a different paradigm of programming, as well as from the hardware and how we were engaging on these programs.
Secondly, I would say the customer experience. I do not go to the bank at all. All my financial activity is online and mobile, even ATMs can feel redundant. I think getting digitised and providing that grade-A experience is increasing. Plenty of banks now don’ t require many physical facilities and when customers go to a physical branch, the first question they are asking is:‘ Did you try to log in to your customer portal?’
Initially, the problem people had using digital financial experiences was about security because people are not that comfortable making online transactions and using digital tools has forced banks and financial companies to extend their platforms to the next level, and with this push, most people now trust this digital experience.
Something else that gave me a totally different perspective about the idea of‘ the bank’ is Capital One. They have cafes instead of traditional banks, my kids don’ t even
2. Interaction
Some domains, like TikTok and Instagram, cater to a specific generation, allowing user experiences to be tailored accordingly. However, banking is different. It serves multiple generations, requiring user experience that accommodates both tech-savvy individuals and those who can use a device but are not as proficient. The system should enable them to complete their tasks independently without needing assistance, ensuring accessibility for all users.
3. Support and report systems
Support systems in banking now integrate digital and physical experiences. You can chat online or connect with customer support. If you’ re stuck, you may get an automatic call offering help. This experience must evolve continuously through feedback loops. Consumers should provide feedback, and businesses should analyse user behaviour. For example, if users struggle at step four of a seven-step transaction, improvements should be made. Enhancing these experiences ensures smoother interactions and better customer satisfaction.
In your current role, what is the biggest tech challenge you face?
I think the tech challenge we are currently facing is the AI hype and how leaders are jumping into it without a purpose or a reason.
We work to filter the noise and grasp what matters for each and every organisation because depending on their plans, current state and region, it should be brought carefully into that organisation. As a product company, we have done www. intelligentfin. tech
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