Are you worried about the logistics of your fintech company? Use our blog to identify the problems you need to solve as soon as possible.
Behind each card delivered in a timely manner, there is a logistics strategy that, for most fintechs, is not very important until real problems appear. However, when a situation is not resolved in time, the consequences can impact both user satisfaction and the company's reputation.
What can be done in these cases? Keep reading to learn about the main obstacles currently facing the fintech sector, how to recognize them in your own operation and what actions you can take to solve them.
What are the logistical difficulties holding back fintech growth?
Physical distribution of cards, documentation and devices
Sometimes, shipments that should take days, are delayed for weeks; deliveries do not go as planned due to addresses that are not properly managed, or returns become a waste of resources that were not contemplated and that end up hurting profitability margins.
Lack of transparency and monitoring in shipments
The lack of updated data causes fintech personnel in Mexico to spend a significant amount of time answering manual inquiries or resolving issues regarding the status of the shipments being made.
Unfortunately, the uncertainty of users, since they do not receive any updates, can lead to an increase in the abandonment rate of the service. Don't forget that people value speed as much as visibility and transparency.
Data protection and confidentiality during the logistics process
In the fintech context, information security is everything, so the transfer of cards, technological devices and documentation must be carried out carefully due to the type of information they contain, since a data leak can involve direct monetary losses and commitments customer trust.
For this reason, it is insisted that fintech companies have logistics systems with strict transport, storage and delivery controls; in addition to auditable processes that certify every movement, encryption protocols, identity checks and the continuous monitoring of deliveries.
Regulatory aspects
It is mandatory for fintechs to be prepared for the regulations imposed by authorities on privacy, financial information management and technical requirements in the physical delivery of documentation and electronic devices, especially when expanding their operations or entering new markets.
Ignoring regulations or not having the capacity to comply with them in logistics can lead to fines, legal sanctions or operational restrictions that will eventually limit the company's growth potential.
You might be interested in: 5 Challenges of Distribution Logistics and How to Face Them
What can a fintech do to overcome its logistics challenges?
A viable solution is to work with a specialized logistics provider. who has both the infrastructure and the experience to respond in an agile manner to market demands, and who understands the challenges of the financial-technological sector.
For example, if the number of late or erroneous deliveries is at an unsustainable point, a logistics partner will ensure that your shipments reach customers without problems and that both parties have real-time monitoring; it will also facilitate immediate intervention in case of delays and prevent returns, as well as repeat orders.
With regard to security and data protection, with a logistics partner on your side, you should not worry that confidential information will end up in the wrong hands at any of the logistics phases, since in many cases processes are established that guarantee the encryption and privacy of a product or document.
Finally, it's worth regularly training your internal team so that they are aware of logistics procedures and know how to act when a problem occurs that interrupts the operation, such as a bottleneck.
Every e-commerce has its own challenges, like a larger brand, the important thing is that the problems that arise are followed up and everything flows with total efficiency.
Are you willing to join the forces of a logistics company in your fintech and make changes that will help you retain more customers? According to Statista, fintech users are expected to exceed 380 million by 2025, so you should start implementing measures to keep you competitive.
Advantages of choosing Cubbo as your fintech logistics provider
- We deliver the same day to your users in Mexico City and in 1.6 days nationwide
- We operate on weekends and holidays
- Traceability at all times for your company and your customers
- We have our own technology team that allows you to work with a single supplier
- Reports that will show you the performance of your operation in real time
- We adapt to the needs of your business
Schedule a consultation so that we can give you more details about these and other logistics services with which we can boost your fintech so that its growth is constant, and can anticipate the demands of the future.
Although you have the last word, remember that not all suppliers are ready to strengthen the fulfillment and logistics of fintech companies. Put an end to all the obstacles that are holding you back together with Cubbo.
