AMAAR MANAGEMENT LTD: creating a customer-friendly bank

AMAAR MANAGEMENT LTD is a programming company that specializes in creating payment systems, and will release a payment institution in November under its name. Its founder, Alessio Vinassa (https://alessiovinassa.com), wishes to create a system that can provide tools for people to manage their money, and to reestablish trust with their bank, thanks to a transparent and constant support relationship.

Today the need for change remains constant for all companies. People’s lifestyles and needs change, and to survive, companies must adapt as lifestyle pace and demands change constantly. Thus, to be successful, they must optimize themselves, and give consumers “the best” and “more” than their competitors.
The goal of a company is always singular: finding customers and satisfying them. Money and positive word of mouth are the result of this goal. Getting caught up in obsolete ways of doing business because “We have always done so”, or rejecting innovations in service because the company has managed without it, is to dig one’s own grave for each brand.

In this article, we talk about one of the oldest sectors in the world, whose archaic form dates back to before the birth of Christ, and one that is having great difficulty in entering the new technological era: the banking sector.

In some respects, the challenges for the banking sector are similar to those of many other business sectors. How should banks adapt so that they may thrive in a constantly changing world? How can they differentiate themselves from their competition? How can they positively exploit the power of technology? In many ways, it is too bad that they don’t.

Today’s users expect simplicity and ease of use, but traditional financial institutions are notoriously poor at providing products suitable for customers and satisfying their needs.

 Poor legacy-style support

Banks aim for positive customer service in the branch, and leave online support in the shadows. Today, however, there are very few people who still physically go to the bank, and that number is particularly low with younger customers. Telephone and online support is often incomplete; it seems that what is provided is never enough, and that if you do not physically see a person at the counter, the resolution to your problem is hindered. It has become habit to call a support number or start an online chat when you have a problem, and if that does not solve it, we are more likely to change service rather than adapt to bank failures.

 If you move from home, you have to find a new bank

It is rather difficult to maintain a long-distance relationship with your bank, especially if there is no branch in your new location. However, should you need support and there are no branches nearby, and there is little offered for online management, you will need to find a new bank. The lending institution has many online features, such as online bill payment, budget and account management, but they are also able to call you to resolve problems. For corporate accounts, banks often require their customers be physically in the bank to proceed with control checks.

 Extremely expensive or unobtainable services

The problem that is most felt by consumers is that every person has different needs but only standardized account types are offered. If a customer has a specific need, the bank should provide them with a service that can provide them with the necessary means of carrying out their business in a simple manner. For example, if a business needs to send and receive frequent intercontinental transactions, too many other costs can become a hindrance, as can the frequent checks (which are common on international transactions).

 People lose confidence in the bank

Many people have declared that they have less confidence towards their bank. They seem to think that “I would rather put my money under my pillow than in a bank.” In some cases, the advent of technology and the reduction of the true management of relationships have aggravated this because the increased physical distance between the client and bank has led to a broken relationship. Banks no longer know their customers, and therefore doubt them, as proven by the frequent checks, limits, and blockages. The banks have proven incapable of providing what a “digital generation” wants. The entrepreneur, Alessio Vinassa, has decided that if an optimal banking service does not exist, that it was time to create it.

 A bank in step with people

Alessio Vinassa is an entrepreneur of Italian origins who has been looking for a service for several years that is suitable for managing the funds of his own company, which works with organizations throughout Europe and even overseas. The search for a bank with which to manage company funds was not easy. First of all, the bureaucracy is slow. The thought of opening an account in a bank day is a utopia. For company accounts, it can take weeks, if not months. After providing everything necessary to give the bank the transparency it demands, you can start working. Maybe.

“I spent many days in the bank. I entered in the morning and left at closing time to bring the documentation to allow them to check that everything was in order in my account,” says Alessio Vinassa. “I fully understand this attention from the banks. The problem is when it becomes a barrier, because it doesn’t actually allow me to carry out my business. I have to spend my time presenting documents that the bank already owns every time.”

Justifying your business becomes a problem when it doesn’t allow you to proceed with your business operations. After years of searching for the bank with the most cooperative bureaucracy, Alessio Vinassa realized that it wouldn’t be found until the banks began to trust their customers (and vice versa). Thus, he made the decision to create his own payment institution.

 Company AMAAR MANAGEMENT LTD is ready to release its payment institution

AMAAR MANAGEMENT LTD is a programming company. It specializes in the field of payment systems. After scheduling applications and payment platforms for its customers, its programmers are completing the creation of a payment institution on their behalf. The name of the payment institution remains unpublished and will be revealed next month. For now, we know some features of what their service will be.

 Support will be available 24 hours a day, every day. For clarification or help, customers will receive support via online chat with operators or by telephone.

  1. The customer’s presence in the office will never be required. The account is opened online, and in the early hours, the customer can already receive a virtual card with which to shop online.
  2. A personal account is verified in an hour, once the customer sends the necessary documents.
  3. A corporate account is verified in just 48 hours. After verification, the owner can use his or her basic business account. Then, you can choose upgrades to get the services to speed up and optimize your business. Getting wider margins than the amount of sending and receiving or shorter transaction times is possible. The staff is available to chat online with their customers to learn about their business and also to provide useful services if the owners need it.
  4. Digital ID, the customer’s proof of identity information.

 The core of the system will be to give customers their accounts without surprises. The payment institution knows its customers and can give them confidence. And customers can once again gain confidence in payment systems, with the ability to follow them at every step.

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