Artem Lyashanov analyzes emotional intelligence in fintech apps

The fintech industry is increasingly talking not only about the speed and convenience of services, but also about the emotional component of customer interactions. Artem Lyashanov examines the meaning behind the term emotional intelligence in banking and payment apps and what data confirms its impact on customer behavior, drawing on industry research without evaluating specific products or companies.

What is emotional banking?

The fintech industry's focus is shifting from transactions to emotions, context, and customer life scenarios, transforming banks from service providers into financial partners and sources of long-term loyalty. In practice, this means working not only with app functionality but also with how customers feel during interactions, whether applying for a loan, making a major purchase, or starting their own business.

The tools companies use to implement this approach include several areas:

• Intuitive and well-designed app interfaces;
• Empathetic support in chats and call centers;
• Emotion recognition technologies in individual service channels;
• Preserving human service in the premium segment alongside AI assistants.

Today, banks don't simply provide impersonal services; they act as personal partners who understand and share a client's feelings, whether it's anxiety over applying for a mortgage, the joy of their first major purchase, or the pride of launching a business.

Artem Lyashanov

What data is behind this trend?

Interest in the emotional component is confirmed by measurable indicators of loyalty and willingness to pay more. According to Capgemini, 52% of customers worldwide feel a strong emotional attachment to a long-term bank. This indicates an emotional connection with financial services.

This effect is also confirmed by the willingness to pay for such an experience. According to Accenture, customers are 1.7 times more likely to agree to a higher price if a brand provides an emotionally engaging experience. For financial institutions, this transforms the emotional component of a service from a mere image characteristic into a factor directly impacting revenue.

What's Important to Consider When Assessing the Trend

Despite the attractiveness of the concept, it has limitations that should be considered. Emotion recognition technologies and empathetic interfaces are tools that complement the core product, not replace its reliability and functionality.

One market participant describes the balance as follows: competing with top-10 banks in terms of scale is difficult, and not necessary; it's possible to successfully coexist by occupying a specific niche, including through emotional banking.

Furthermore, the concept of emotions is also applicable to corporate clients, although it manifests differently, as for them, the emotional value of a service is often expressed in predictability, the guarantee that a payment will be received, and the online service will function smoothly. This means that emotional intelligence in fintech is like a layer built on top of the basic reliability of the product, and its effect is only evident when this reliability is already ensured.