Personalization & Customization: Feed Technology Offers The Perfect Blend

Welcome back to The Feedcast, where we continue our conversation with Wook Chung, Chief Product Officer at Farrow Bank. In this episode, Wook provides further insights into the world of feed technology, its impact on user engagement, and its potential applications in various industries. Wook emphasizes that feeds serve as the initial point of interaction with users. For instance, when you open a banking app, the content at the top of your feed can draw you in. This one- way engagement is a delicate balance, and its one of the reasons why the banking industry has been hesitant to adopt feed systems. Successful platforms like TikTok thrive on a dedicated feed-only approach, emphasizing the importance of sending the right content at the right frequency. Farrow Bank, committed to financial inclusion across income classes, aims to help paycheck-to-paycheck consumers by making economics work for them. Wook envisions the future of banking as potentially cashless, with brick-and-mortar banks gradually giving way to digital alternatives as the online-native generation becomes more comfortable with virtual spaces. Turning to healthcare, Wook notes the growing need for personalization in this field, even more than in banking. With advancements in AI, healthcare could offer more tailored recommendations. A feed system could provide personalized health tips and insights, enhancing the patient experience. As for the future of feed technology, Wook acknowledges uncertainty about the next big breakthrough but underscores its enduring presence. Organizations have a tremendous opportunity to leverage AI and other technologies for customer engagement through feed systems, enabling possibilities not feasible in traditional brick-and-mortar spaces. Join us in this episode of The Feedcast" as we explore the evolving landscape of feed technology and its potential to transform various industries, from banking to healthcare. Wook's insights offer a glimpse into the dynamic world of feeds, making this episode a must-listen for those interested in the future of technology and user experiences. Key Points [00:45] The balance of the right feed in the right cadence [08:45] How does Wook create a personal experience in a digital space? [12:26] The future of banking: brick and mortar vs. digital [15:22] What can the healthcare system learn from the Facebook’s of the world? [19:26] What’s the next big channel for consumer engagement? [21:54] Is feed tech here to stay?