Listening Is the New Power Move in Financial Services

In today’s fast-moving financial services landscape, driven by relentless technological advancement and ever-evolving customer expectations, one timeless tool is proving more essential than ever: listening.

According to PYMNTS’ latest report and eBook, “The Listening Economy: How Customer Conversations Are Transforming Financial Services,” the industry’s most valuable insights aren’t being uncovered in code or technical solutions, but in strategic, authentic conversations with customers. Drawing from the experiences of 14 top industry leaders, the eBook emphasizes that customer dialogue is not just a courtesy—it’s a core driver of innovation, trust, and long-term profitability.

Rather than defaulting to traditional data collection or internal brainstorming sessions, more organizations are leaning into customer conversations as a compass for decision-making. As Jon Gaskell, senior vice president of Strategic Partnerships at Ingo Payments, noted, FinTech discussions often revolve around how to move money faster or reduce costs — but more sophisticated clients are now asking how disbursements themselves can become revenue generators. This shift in dialogue reveals deeper business concerns and opens up new growth avenues.

Anat Hoida, head of Global Strategic Partnerships at Marqeta, underscored the value of this shift, pointing out that the highest compliment a customer can offer is saying, “They truly understand my business.” This level of trust, she explained, doesn’t come from transactional interactions alone — it’s the result of consistent value delivery and proactive communication that positions financial firms as partners in their clients’ success.

For companies like North, cultivating personal relationships with clients has been key to product innovation. Preet Patel, the company’s senior vice president of Product, said that North’s success over the past three decades has come not from isolated innovation, but from real-world, customer-driven “Aha!” moments that steer development. Even as one of the top players in the payments space, Patel emphasized that innovation doesn’t happen in a vacuum.

Boost Payment Solutions has adopted what Zachary Held, head of Product and Commercialization, describes as an “ears first” approach. This deeply consultative model helped them uncover pressing operational issues — such as the challenges faced by a Hong Kong-based merchant struggling with trade finance delays — by listening to what customers actually need rather than assuming from afar. These insights help Boost offer tailored, impactful solutions.

Maria Prados, senior vice president of Go to Market Global Enterprise at Worldpay, reflected on a recent customer question that stuck with her: “How do I know if offering a new payment method will actually increase my sales — or will it just add more complexity?” She explained that while it may sound simple, the question points to a broader challenge: making confident, data-informed decisions in an increasingly complex payment ecosystem.

That feedback loop is something Kari Lyncha, senior vice president of Operations at Concora Credit, believes many still get wrong. Too often, organizations treat customer feedback as background noise or mere data points. In contrast, Concora sees every repeated question, subtle complaint, or pattern in behavior as a signal — a roadmap for improving the customer experience and deepening relationships.

John Frank, chief customer officer at Coupa, echoed the importance of trust in navigating the digital economy. He emphasized that while software can solve problems, it’s true partnership that delivers lasting value. That trust, he said, begins not with technology, but with listening — building a relationship from the very first interaction.

As the PYMNTS eBook argues, the companies most likely to succeed are those that treat customer conversations not as support tasks or survey responses, but as strategic touchpoints for long-term growth. The most valuable exchanges are not about troubleshooting or pitching, but about uncovering unmet needs, questioning assumptions, and co-creating the future.

In an age where financial services can often feel impersonal and automated, the simple act of listening — genuinely and strategically — may be the industry’s most powerful competitive advantage.