finance portal

The finance industry mostly relies on legacy systems. But to keep up with changing customer preferences and remain competitive, it’s crucial to go beyond digitalization and adapt to customer-centric solutions to deliver a frictionless experience.This is where finance portals developemnt are useful.

A finance portal provides all the financial information at the fingertips of the users. Users can make basic transactions and even solve their problems themselves. It saves your team’s efforts and time otherwise spent on manual reporting, lengthy billing procedures, and repetitive communication. You can bridge the communication and transparency gap between your clients and stakeholders with finance portal development.

You can leverage multiple benefits by adopting digitalization in your organization. In this article, I will walk you through those benefits along with the types of portals depending on the financial services.

Let’s start!

Types of Finance Portal

Financial institutions provide various types of deposit and lending products to businesses, end customers, and both. Thus, the finance portal and its features differ based on the services that you offer. It can be banking, insurance, stock market, wealth management, or something else. Here are the top three types of finance portals that are in high demand.

  • Banking Portal

As a bank owner, you have a lot of operations to perform and manage on daily basis besides attending to customers. A banking portal reduces your burden by allowing your users remote access to your services, including investing money, fixed deposit, fund transfer, etc.

  • Insurance Portal

The insurance portal simplifies the new insurance plan, sign-up procedure, claims, and navigation through the insurance process for customers. It provides a mid-way to both – policyholders and agents to connect and access information while carrying out their tasks themselves. All the manual tasks like claim approvals status are automated.

  • Trading Portal

If you’re in a stock market business, this is the type of finance portal you should develop. The trading portal allows businesses and investors to trade in different financial institutions and monitor their investments with intermediaries. The key features of the trading portal would include real-time quotes, charting tools, a news feed, a list of updated stocks, payments, transactions, and analytics.

Similarly, you can develop a finance portal with service-specific features for brokerage firms, credit unions, mortgage companies, and other financial institutions.

Why You Should Use a Finance Portal

You can compete with the startups that are leveraging AI and Big Data to complete the loan process in 10 minutes or less. Forward-thinking, customer satisfaction, streamlined operations are some of the other reasons you should have a finance portal.

Here are more:

  • Data Security

Security is the primary concern for customers, and when it comes to financial aspects, it’s paramount. There are concerns about data access and the way it’s being used. Besides, digital transformation provides financial institutions with a treasure trove of user data.

A finance portal ensures that the data won’t be compromised. It provides authorized access to its users based on their roles and rights. For instance, Tier 1 employees will have access to basic customer details, while managers on the top level can access the privileged accounts, and so on.

  • Improved Productivity

Using new technologies to reduce costs was a popular strategy in the 1990s and 2000s in the financial sectors. That remains relevant to date. However, there are various other benefits of automating processes using the finance portal. One is reduced burden on agents and support staff.

Most of the people nowadays are investing in policies and mutual funds. Having a huge number of tickets can impact the productivity of your staff. With the portal, your agents can focus on priority issues and let customers handle the basic activities such as claim requests, transactions, status tracking, etc., on their own.

Not only this, other activities like credit scoring, fraud prevention, risk analysis can also be automated thanks to the data crunching of AI. This allows you to utilize your resources efficiently and improve overall business performance.

  • Customer Experience

The key to customer satisfaction is the support you offer. It’s difficult to attend all the customers and be available round the clock with human support. The finance portal ensures that your customers get the help they need whenever and wherever they want. It offers self-service, allowing customers to accomplish their tasks/activities themselves without any agent’s support.

For example, digitally, they can open a bank account in merely 5 minutes, which takes 5-7 days in the traditional method. Portal offers a frictionless customer experience. Plus, features like AI chatbots can be game-changer. It eliminates the waiting list by automating query handling and gives your support agents time to focus on complicated issues.

It further helps gather data that aids financial institutions in predicting customer demands and providing services and solutions proactively. For example, they can take instant feedback and surveys and improve their services. This kind of digital experience allows financial firms to offer everything from policies, loans, support, status, quotes with effective segmentation and improved targeting, that too, across all channels.

  • Centralized Approach and Better Visibility

Traditional approach and legacy systems don’t provide firms the clarity they need in terms of churn rate. However, the portal unifies everything, providing a 360- degree view of the business. It enables customers and agents to work together – share data and documents, and perform policy and banking-related activities.

Finance portal provides a smart dashboard that you can use to get better insights. In terms of numbers, you can literally know the profit and loss, customer retention rate, and more.


A finance portal can help you enhance the customer experience in multiple ways – by reducing turnaround time, customer acquisition costs, manual work, support costs, etc. However, deploying one for your business can be challenging. Financial institutions like yours need to evaluate their requirements and define what needs to be shifted to the finance portal. For example, insurance companies can allow policyholders to claim requests, check status, and register for new policies on their own via a portal.

Align your requirements and strategies to get the most out of your finance portal development.

Read More Article: Here


Please enter your comment!
Please enter your name here