In the always-on, 24/7 feedback loop of financial services, technology accelerates change, and customer expectations constantly evolve.
The noise can be deafening. Yet, a report from PYMNTS found that the most potent insights and opportunities aren’t found in the latest algorithm or blockchain breakthrough, but in the surprisingly simple, often overlooked practice of listening — deeply and strategically — to customers.
A new PYMNTS eBook, “The Listening Economy: How Customer Conversations Are Transforming Financial Services,” compiled perspectives from 14 industry leaders who revealed how tuning into the unfiltered voice of the customer is not just good service, but a critical driver of innovation, trust and profitable growth.
The eBook made the case that direct customer exchanges serve as a compass for shaping strategy, fueling innovation and strengthening relationships in the financial services, payments and digital economy sectors. It’s about shifting the focus from data collection to a genuine interpretation of underlying concerns and market trends.
As the payments landscape becomes increasingly commoditized, the ability to transform payment moments into opportunities for brand engagement, loyalty and enhanced security hinges on understanding what clients truly need. The 14 leaders said the most transformative products and impactful business decisions don’t emerge from internal echo chambers or traditional research alone; they originate from meaningful dialogue with those who use the services every day.
From rethinking outdated processes based on direct feedback to identifying new revenue streams by listening to client questions, the insights shared underscored the central theme that strategic listening turns customer conversations into profitable growth. It requires a commitment to engagement that goes beyond transactional interactions, seeking to build trust and co-create value.
For professionals in banking, FinTech and the broader digital economy, the message is clear: The future belongs to those who not only hear their customers but truly listen and act decisively based on what they learn.
Here are seven insights from leaders featured in the eBook, highlighting diverse ways the industry is using customer conversations.
“Let’s be real: Most FinTech conversations still circle around two basic topics: ‘How fast can I move money?’ and ‘How do I lower costs?’ Both are important, of course, but the savvy clients — the ones who’ve seen it all — are now coming to us with a smarter question: ‘How can my disbursements become a source of revenue?’ This is precisely the topic of conversations we’re having with our clients. And it’s the one that matters most.” — Jon Gaskell, senior vice president of Strategic Partnerships, Ingo Payments
“The highest compliment a customer can give is: ‘They truly understand my business.’ That kind of trust isn’t built overnight. It comes from consistently delivering value and honest communication that goes beyond the basics. It’s about showing up with purpose and proactivity, moving past transactions to become a true partner in their success.” — Anat Hoida, head of Global Strategic Partnerships, Marqeta
“The publicly untold stories behind North’s long-running success in product innovation are the ‘Aha!’ moments that stem from customer conversations. Though we are one of the leading FinTech companies in the payments space, and have been so for over 30 years, we’ve always prided ourselves on fostering the personal relationships that help us grow and succeed along with our customers. Evolving the payments landscape is never work done in a vacuum.” — Preet Patel, senior vice president of Product, North
“At Boost, we prioritize an ‘ears first,’ deeply consultative approach to customer conversations. We’ve found the most powerful insights and best relationships come from what customers say they need to solve for, not what we assume. I recently spoke with a Hong Kong-based merchant that ships computer manufacturing parts to U.S. companies. The firm was exploring trade finance alternatives to prevent delays in shipping and speed up accounts receivables payments. It was a perfect example of a very real challenge: How do international businesses unlock working capital without slowing down operations or waiting weeks for funds?” — Zachary Held, head of Product and Commercialization, Boost Payment Solutions
“One of the most thought-provoking questions I’ve heard from a top customer lately was this: ‘How do I know if offering a new payment method will actually increase my sales — or will it just add more complexity to my operations?’ It’s a deceptively simple question. On the surface, it’s about choice. But at its core, it’s about making confident, data-informed decisions in an increasingly complex payment landscape. And it’s a conversation we’re having more frequently across industries — from retailers and airlines to subscription services and digital platforms.” — Maria Prados, senior vice president of Go to Market Global Enterprise, Worldpay
“Customer feedback isn’t just commentary to be collected — it should spark action. Every subtle behavior pattern, complaint or repeated question is a signal pointing toward an experience that should be reviewed. Yet many organizations treat feedback as a data point rather than something to act on. At Concora Credit, we treat this input as a roadmap — one that guides us toward building deeper relationships and smarter solutions.” — Kari Lyncha, senior vice president of Operations, Concora Credit
“In today’s digital economy, software alone doesn’t create competitive advantage. Partnership does. At Coupa, we’ve learned that the most impactful results come not just from deploying technology, but from building deep, trust-based relationships with our customers. Trust is what elevates a traditional vendor-client relationship into a true strategic partnership. And it begins from the very first interaction.” — John Frank, chief customer officer, Coupa
These insights revealed that the most valuable conversations aren’t just about troubleshooting or sales pitches. They are about uncovering unmet needs, challenging assumptions, building trust, and collaboratively charting a course for the future.
By prioritizing genuine dialogue, using feedback to drive innovation and informing partnerships with data, financial institutions and FinTechs can move beyond transactional relationships to build the loyalty and shared success essential for thriving in the listening economy.
As technology advances, the fundamental act of listening remains one of the most powerful tools in the financial services arsenal.
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