Payment Training Programs: Every Fintech Needs It But No One Wants to Admit It
April 29, 2022
How would you rate your company’s onboarding program?
Chances are you’re at least somewhat satisfied with its performance — you may have an internal team training program, or you could facilitate meet-and-greet sessions to assimilate new members of your sales staff and product development teams. Perhaps your employees learn the ropes through online training materials outsourced from other fintech providers.
Regardless, your team performs their respective duties, so if it ain’t broke, don’t fix it, right?
In reality, most companies inhibit growth as a result of inefficient and inconsistent onboarding programs. How? Because they rely on two misguided approaches to training their key talent:
- Self-guided online programs
- Internal team training from current directors
- Improve sales efficacy and efficiency. Outfitting your team with payment professionals improves customer acquisition and retention rates, as they can establish themselves as trusted authorities in the space.
- Expedite strategy implementation. Payment training reduces your team’s learning curve, which translates to rapid deployment of key talent and expedited KPI achievement.
- Accelerate product development. By better understanding your customers and the broader payment industry, your product developers can save time determining the most appropriate and desirable features.
- Streamline internal and external communication. When everyone has the same understanding and speaks the same language, your organization can reduce misinterpretations and unnecessary delays.
- Increase talent retention. Sales members quickly reach a point of confidence in their abilities, empowering them with the skills to succeed and higher work satisfaction.