In recent years, there has been a growth of Fintechs, which is reflected in the adoption of their tools and financial solutions by different individuals, businesses, companies, and corporations in general. However, the dynamic environment of the sector has caused Fintechs to customize their service, adapting to the needs of their customers, one of these factors being customer support in their native language. Below, we will explain why it is essential for Fintechs to provide support in the native language of their customers.
Greater convenience for customers
A customer will feel more comfortable and confident if a Fintech communicates in his native language. Generally, when customers can express themselves in their native language, communication will be more fluid, in addition to establishing a relationship of trust with the company, thus improving the user experience and the customer’s level of satisfaction with the financial product or service.
Effective communication
Language can be a barrier or a bridge between two different cultures. When two people do not share the same language, communicating and understanding each other can result in difficulty. Providing support in a customer’s native language ensures a more effective, fluid, and accurate communication process. For example, customers can formulate questions more clearly or best express their problems or concerns. All of this will significantly aid in the resolution of potential incidents.
Differentiation and competitive advantage
Competitiveness is a relevant factor in a foreign market, so Fintechs must make additional efforts to acquire and retain customers. Offering support in a customer’s native language can be a competitive advantage for a Fintech, as users tend to positively value companies that can address their needs in their native language.
Let us suppose Maria has a question and does not know English, then she will need to use an “online translator” to communicate with support, which will make the communication process much more difficult. On the other hand, if the company provides support in her native language, then Maria will not have to worry about “translating” what she will say, as she will express herself freely without worry.
Because of this, if a company communicates with its customers in their native language, its retention or loyalty rate will likely be higher, and it will be able to differentiate itself from other companies that do not offer support in that language.
Adaptation and cultural differences
Fintech companies that provide a service in the customer’s native language, can better understand their preferences, characteristics, and cultural differences, thus providing a more personalized service tailored to each customer’s needs.
It is important to note that each language has its own set of words, grammatical structures, and idioms that reflect the vision and values of a particular culture. The choice of certain words and phrases in a language may convey specific ideas or emotions that may not translate directly into other languages. For example, some languages may have specific terms to describe concepts that do not exist in other languages.
Expansion into new markets or territories
If Fintech wishes to expand internationally and consolidate new markets, it must offer support in the native language of those newly discovered territories or markets. Using the native language in a target market shows respect for its culture and reflects the company’s “willingness” to adapt to the preferences of its new customers; this can create an emotional connection with local consumers, as they feel valued and understood. These factors will be critical to success in that new environment, allowing the company to win new customers or retain existing local customers.
About Pilsenga support
It is important to emphasize that the Pilsenga ecosystem (designed for medium-sized companies) offers 24/7 support in the customer’s language by native speakers and is currently available in Spanish, Italian, and English.
What do you think about this topic? Do you want to know more about Pilsenga’s service?
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