How Finance Businesses Can Benefit from a Finance Portal

How Finance Businesses Can Benefit from a Finance Portal

Note: This post is for any B2B finance brand or a direct customer in the finance industry. This post highlights some of the common challenges that a direct customer might face and how they can be solved using a finance portal.

For many years now, the finance industry has been undergoing a fundamental shift. Digital transformation is changing the way businesses and customers interact with one another.

Everything is shifting online, be it payments or communication. Innovations and trends are emerging in the industry. Businesses are doing their best to keep up with customers’ expectations and deliver seamless experiences.

Understanding your customers’ pain points will help you best cater to their requirements and give your business a competitive edge.

Critical areas, which, if kept unattended, can put off your customers

A. Customer support

You will agree that customer acquisition costs in finance are higher than in other industries. Did you know acquiring a customer can cost five times more than retaining existing customers?

So here, exceptional support to your customers is what helps build trust, foster loyalty, and bring in more business with word-of-mouth.

A common problem

A common area of support where most financial organizations struggle is quick response time. Customers want a solution to their problems in less time. They base their experience on how quickly they get a response.

As per CMO Council, the most important attribute of a good customer experience, according to the customers themselves, is a fast response time.

Given the nature of finance, customer queries tend to be more complex. Because of that, customer support agents have to deal with longer turnaround times and unsatisfied customers.


B2B finance businesses can leverage a finance portal with built-in support functionalities. With features like knowledge base, live chat, etc., you can provide quick support. For instance, with a knowledge base, customers can access articles to get all the information they need to solve their queries.

Know more about how a finance portal can benefit your finance business. Explore all the features that make a portal successful.

Operational inefficiency

Siloed systems complicate processes and hamper operations. According to research firm IDC, do you know operational inefficiency costs companies anywhere from 20% to 30% of their revenue every year?

Inefficiency in business administration not only wastes cost and time but also increases risks and impacts work quality. Moreover, legacy systems can be a security threat to your business and impact the productivity of your staff.


Today, automation in the finance industry isn’t just about online payments and invoice automation. Businesses are leveraging the capabilities of artificial intelligence and extensive integrations to deliver a seamless experience.

Take AI chatbots, for instance. From the point of view of automation, chatbots help reduce mundane tasks and enable customers to self-serve.

Automation can help deliver a consistent customer experience in the following ways:

  • All the internal processes of the finance business have direct implications on customer experience. Automation helps reduce errors and also ensures timely response.
  • Availing chatbots can streamline the customer experience and deliver a more relevant experience.

Use cases of automation in the finance industry:

Automated reports: Compliance offices spend unnecessary time reading all reports manually. Generating automated compliance reports for fraudulent activities saves time and effort.

Onboarding: It is an extensive process that requires manual verification. Automation helps streamline the process and ensures there are no discrepancies.

KYC and AML: Automating data-sensitive processes like Know Your Customer and Anti-Money Laundering helps save time and cost, and reduce errors.

Loan-processing: High-level automation helps speed up the tedious process of loan processing.

Give your finance business a competitive edge using a finance portal. Automate processes using the finance portal to reduce the burden on staff and thus improve efficiency. See how a custom portal can benefit your business.

Streamlined communication

Messaging and communication are how you can set your finance business apart from your competitors. You need to ensure that the communication with each customer is personalized in order to provide great experiences.

Even the documents you share with customers should follow proper formatting and have a professional tone.

Customer-centric solutions like the finance portal can deliver a frictionless experience

With a finance portal, you can provide all financial information to your users at their fingertips. From basic transactions to self-service, a portal can benefit. You can save efforts, reduce manual processes, bring more transparency, and ultimately foster customer loyalty.

There are different types of finance portals like banking, insurance, trading, etc. Choosing what kind of portal to build and what features to include depends entirely on your business requirements.

Features that make a financial portal successful

Typically features can be divided into categories like admin, accountant, user, etc. Given below are some features you need to consider when building a portal for your B2B business.

Integrated support portal: Provide 24*7 support by using a knowledge base, ticketing system, live chat, etc.

  • Admin features: Admins can manage various things like reports, loans, employees and accountants, customers, etc.
  • Real-time communication: Streamline communication by notifying your customers about transactions, agreements, and such.
  • Legal formalities: Save time with features like document scanning, e-signatures, etc. This helps take care of various legal formalities without indulging in a lot of paperwork.
  • Invoice & balance sheet: Generate and send invoices directly using the portal. With the portal’s secure payment gateway, customers can also pay their fees. Accountants can also manage their necessary finance documents.
  • Reporting: Get detailed reports using the finance portal to get a complete idea of your business operations and take further informed decisions.

Get Started Now!

For more than 15 years, we have been helping finance businesses with finance portal development. If you are in the finance industry, we can help you streamline your process with a finance portal. Share your requirements with us, and we will get back to you!


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