Financial institutions caught the drift and brought the innovation to the business running. They also continued to invest in further FinTech development to increase service efficiency. In 2017 the global scope contribution reached 38.9 billion dollars. Considering the competition within it the amount most likely will proceed to raise in the next years. However, the initial implementation of the technology concerned only the automation of the processes and staff management. But the new generations demand more personal and modern approach to their needs. This fact in combination with their untrusted attitude towards traditional establishments resulted in the emergence of more convenient alternatives. New service types explained to the customers how to get money fast. They also showed the direction for the whole field progress: universal access and procedure simplification. To implement the concept, old-fashioned institutions require to set the successive objectives that should be achieved both with technical and managing solutions.  

Globalization

Modern devices as well as appropriate software and applications allow spreading the service without excessive expenses. They help to resolve actual obstacles that have prevented the distribution in the past like location, staff and legal issues. Online banking available for desktop and mobile platforms is not only able to substitute the land-based branches for the majority of customer needs but also show the particular benefits in the new form. It also allows to establish the initial client-provider connection and customize the user experience.  

Accessibility

One of the most repellent matters that stands in the way between banks and young adults are high fees, tedious applying, and other procedures. They don’t want to stop their movement to solve their problems including financial. Using gadget possibilities to bring in to the business the on-the-go trend is a must-do action. But it can’t be fully realized without reconsideration of commonly stipulated conditions. Few-tap services should be available without any harmful consequences.  

Liberalization

Banks used to focus on restricting customers and not on paying attention to them. Although both approaches have the mutual goal of the successful service maintenance the first one nowadays is becoming obsolete. Institutions should find the balance between them without decreasing the outcome quality. Extending remote maintenance possibilities and raising awareness of available limitations and risks via personal banking profiles and mail notifications will bring the cooperation to another level.  

Security

Despite all the benefits of banking digitalization including data organization, in the modern environment, a customer becomes more vulnerable in some aspects. Providing the security that corresponds with the existing demands is the number one necessity to resolve trust issues between parties. The dependency of the innovatory system from the certain means and conditions implies its appropriate maintenance. It includes the availability of staff responsible for this business scope and its regular modernization to adhere to the requirements of the changing environment.  

Flexibility

The main advantage of the alternative financial enterprises is their customer orientation in offer composition. Looking for new ways to open service not just with technical means but also with attractive innovative proposals is the change that should be brought in the business strategy. Another demand to the technology and its operator is the ability to evolve with the field and customer needs in all aspects. Timely adjustments will allow not to lower the bar in various conditions. Bringing the technology to the financial sphere shouldn’t be just the attempt to stick to the world trends. It should be reasonable and planned step to improve the service overall and especially customer experience. To attain the determined goals the suitable digitalizing solutions should be provided only by experienced and trusted IT partners. Such innovations require serious investments but with the right approach they will pay off with excess.