KBC invites non-customers to use its mobile app

KBC invites non-customers to use its mobile app

KBC is opening up its mobile app to the wider public beyond its customer base, providing access to a range of third party non-banking services.

Taking the banking-as-a-service model to its natural conclusion, the KBC app will provide non-customers with an array of services beyond the usual account management and transactional options.

Users who download the app will be able to immediately buy De Lijn and SNCB public transport tickets and pay for parking at 4411 and Q-Park sites. By the end of the year other services will become available, including airport lounge and fast-lane passes, group energy purchasing deals, merchant discounts, and mobile safe deposit services.

Karin Van Hoecke, general manager for digital transformation at KBC Belgium says: "The distinction between customers and non-customers is becoming increasingly blurred. Consumers are looking for the fastest and easiest way to meet a particular need and they only want to see information and services that are relevant and tailored to the way they organise their lives.

"They expect to have access to a much wider and more attractive package of services, which they want to be able to activate quickly and easily from a single central app, without fuss or having to download 10 different apps.

"KBC will focus on this heavily in the years ahead. We’re going to develop KBC Mobile into an open platform that is readily accessible to every consumer and adds genuine financial value."

Comments: (2)

David Mooney
David Mooney - Alliant Credit Union - Chicago 19 November, 2019, 19:51Be the first to give this comment the thumbs up 0 likes

I would challenge the premise that consumers want to access a range of services through a bank app. What's the value added?

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 20 November, 2019, 14:33Be the first to give this comment the thumbs up 0 likes

I've often wondered why every bank website tells me to log in - which means I need to be its customer - when it provides a lot of products and services (e.g. forex, payments) that needn't be restricted to its customers. Most payment fintechs (e.g. UPI apps like PhonePe, Google Pay in India) work off of banking rails and I've always wondered what stopped banks from capturing this market with their own apps. I could think of two reasons: (1) Fintech apps are early to market with superior UX (2) Fintechs are in the valuation game, can afford to spend huge amount of money on customer acquisition, give away their services for free, eat their costs (e.g. MDR), and sustain losses for a long time via VC funding.

Interesting move by KBC. If the bank can match the UX and marketing budgets of fintechs, this can lead to interesting outcomes.

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