The electronic age has changed the relationship between customers and banks. Mobile trades increased by 121% between 2017 and 2022, while visits to bank branches dropped. According to research by CACI, the normal consumer averages approximately seven bank visits per year. By 2022, the number of visits annually to will be reduced to four. Consumers between the ages of 18 and 24 will see their bank about two visits annually by 2022.
The convenience of having everything we want in our smartphones has opened up a new, more immediate and effortless way of interaction. As people change, so do their customs and needs. A bank needs to understand what the needs of the clients are in 2019, and it must not only accommodate, but optimize itself.
The increasing use of internet banking has shifted the center of banks from their past physical locations. The bank-customer relationship is very fragile, and the problem is that banks are not ready for this virtual shift.
Banks trust their clients less because banks don’t meet their clients as frequently as in the past. On one hand, banks protect themselves by imposing sending fees and withdrawal limitations, and freezes on any potentially suspicious activity. On the other hand, people no longer trust banks, as they see banks as a entity that rules its clients to exploit their financing.
A new bank-customer relationship needs to be formed, which can assist the client to feel understood, that any doubt or problem solved can be an easy and pleasant experience. To make this possible, the bank needs to know its customers trust them. In this scenario, the AMAAR MANAGEMENT LTD presents itself as a company specializing in the software programming of payment systems. Its creator, Alessio Vinassa, is a Italian entrepreneur who approached the payment industry with the concept of the need for his business. Over the years, he continuously sought the Perfect bank for which he could supply solutions such as:
— A easy and stable bureaucracy, without any sudden changes that might produce doubts with customers
— Minimal sending and receiving times, with no waiting for weeks or even months, because of inspections
— Support that is always available and clear, which solves client problems.
“One of the first activities I began is a gold-mining cave in Burkina Faso (Inti Gold Global Sarl) and absurdly the biggest problem was paying for equipment and the installation. Sending money to another continent can become impossible, especially when you’re a young company,” states the Italian entrepreneur, Vinassa, “The exact same to receive payments. When producing a gold sale, I couldn’t afford to wait for months to get payment from the person I sold it to. Often it happened like this, since the banks blocked for checks the sends of European buyers toward Africa. Time is money for an entrepreneur, and I invested too much time in the bank to justify my business.”
If a bank always requests unnecessary checks, it may slow the company down. If a company continually experiences these roadblocks, it risks coming to a complete stop. Alessio Vinassa then made the decision to create a solution.
The AMAAR MANAGEMENT LTD, after five years of experience in programming payment systems for its clients, has created its own payment institution. The name will be announced in November 2019, but a preview is now available describing what it’s all about.
AMAAR MANAGEMENT LTD’s online payment institution, places the requirement for all users to first have a positive experience by:
— Creating a transparent relationship between institution and customer with mutual trust; customers are ensured no following control, suspensions with no purpose and with no discrimination towards new electronic entrepreneurial activities through initial knowledge that would increase the activation of customers. This guarantees speed of action and safety for the client.
— Managing each stage online; From opening the account to support, the existence of the client in an office is never demanded .
— Customizing the accounts for each client; Getting to know the customer by understanding their particular needs and then proposing suitable upgrades for everyone
— Opening accounts fast; Registering in under 5 minutes; Private confirmation of an accounts in a hour; In 60 minutes, clients can request and receive their virtual card that may be used for online payments immediately.
— 24/7 support.
- Transaction security through blockchain technology
- Digital ID.
1 point, regarding company accounts, must be noted. Firms , that open an account on the internet, take 48 hours for confirmation . From there on, entrepreneurs can choose an update to get services designed exclusively for their business. One of the services is having a personal manager assigned that can provide useful information for their company, like matters dealing with federal regulations and interactions, and how to proceed with bookkeeping.
Business customers will be able to introduce their company through an internet call so that the AMAAR MANAGEMENT LTD payment institution knows immediately what to expect and in order to provide optimal, speedy service with no restraints.
“As customers continue to change how they do banking, AMAAR MANAGEMENT LTD will change the way in which they are served.” Says Vinassa. “Traditional brick branches will be replaced by a service with no time or space limitations. Everything can be done online in total safety and comfort, remaining available 24 hours per day. “
AMAAR MANAGEMENT LTD will print its payment institution in November 2019. 500,000 customers are already prepared to get the payment institution in another 120 days following its publication (potential by established agreements). The payment institution is under construction.
Alessio Vinassa states, “People will begin again or for the first time to trust payment systems. When the service understands its customers, then it may trust them, receiving trust in return. The personalization of the user experience through the integration of online services is the element that most of all can foster the acquisition and loyalty of customers.”