Viola

IT DEPENDS ON THE CONTEXT: FROM EMBEDDED TO CONTEXTUAL FINANCE

April 3, 2024

Banks & Lenders, Financial Services, Merchants

Jifiti was featured on Viola’s Contextual Fintech Map.

According to Viola, the holy grail to creating the ultimate customer experience is in the intersection of embedded, personalized, and on-time. Or, in a word – contextual.

Based on this theory, Contextual Finance can be best understood through the lens of intent. Generally, purchasing a financial product is not the customer’s main objective, but instead is a complementary intent. For example, a person doesn’t wake up with the desire to take out a loan, but they might have the need to buy a new fridge after theirs breaks. This primary intent of purchasing a new fridge drives their actions while taking out a point-of-sale loan or line of credit is a complementary intent that helps them achieve their primary goal. By taking the context into account and embedding a financial product into the customer’s journey toward achieving his primary goal, Contextual Finance can provide customers with a seamless, personalized, and real-time financing experience.

Read more in Viola.

Jifiti powers white-labeled embedded lending solutions for banks, lenders and merchants.

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