Examples of Value Added Services (VAS) in Banking
Let’s talk about how banks are stepping up their game. These days, it’s not enough to offer basic accounts, loans, or credit cards. Customers expect more—they want convenience, personalization, and services that make their financial lives easier. That’s where Value Added Services (VAS) come in.
VAS aren’t just about adding bells and whistles, they’re about creating a better, more engaging customer experience that goes beyond standard banking.
VAS in banking can range from digital tools that simplify financial transactions to loyalty programs that keep customers engaged. When done right, these services don’t just meet customer expectations - they exceed them, creating stronger, long-lasting relationships.
Read this article to explore more examples of using VAS in Banking and Financial Services industry.
10 Examples of Value Added Services in Banks
Peer-to-Peer (P2P) Payment Services
If you're reding this article, you're probably know what is it about. This is the way of instant payments without jumping through hoops. That’s the beauty of P2P payment systems. By offering direct, instant transactions, banks create a seamless user experience.
Customers appreciate the convenience and efficiency, especially for personal and business transfers, which makes this a must-have service for tech-savvy clients.
Digital Wallets
Digital wallets are changing the way people think about payments. They let customers store payment information securely and make transactions without needing physical cards. These wallets don’t just add convenience—they also enhance security.
And when banks integrate digital wallets with other products like credit cards or investment tools, they create a smooth, cohesive experience that customers can’t resist.
Tailored Product Recommendations
Personalization is everything. By analyzing spending habits and financial goals, banks can recommend products that truly resonate with customers—whether it’s a new savings account, an investment plan, or even a travel credit card.
When customers feel like their bank understands them, it builds trust and makes them far more likely to stay loyal.
Loyalty Programs
Loyalty programs aren’t just about points anymore—they’re about delivering meaningful rewards. From cashback offers to VIP perks, these programs add real value to a customer’s experience.
The best loyalty programs go beyond the basics, offering exclusive access to events, early product launches, or even personalized benefits, creating an emotional connection with the customer.
Multi-Currency Accounts
For globetrotters and international businesses, managing multiple currencies can be a headache. Multi-currency accounts solve that problem by allowing customers to hold and manage different currencies within a single account.
This reduces the hassle and costs of currency exchanges, making these accounts incredibly appealing in today’s globalized world.
Virtual Assistants & Chatbots
Nobody likes waiting on hold, and that’s where AI-powered virtual assistants come in. These tools handle routine queries, assist with transactions, and provide 24/7 support—all without human intervention.
Not only do they make customers’ lives easier, but they also free up human advisors to tackle more complex tasks, improving efficiency across the board.
E-Commerce & Marketplace Integration
Banks are finding ways to make online shopping even more seamless. By partnering with e-commerce platforms, they can offer customers instant financing, fintech's like BNPL (Buy Now Pay Later) or special deals at checkout.
This not only enhances the shopping experience but also opens up cross-selling opportunities for banks, creating a win-win situation.
Dedicated Marketplaces to Support ESG Goals
One of the most forward-thinking VAS examples is the creation of dedicated marketplaces integrated directly within a bank’s ecosystem.
These marketplaces can focus on specific themes, such as green products or services that align with the bank’s ESG (Environmental, Social, and Governance) mission.
Imagine a marketplace where customers can find solar panels, electric vehicles, or sustainable fashion, all vetted and curated by the bank.
Customers could use loyalty points or financing options offered by the bank to purchase these products, directly supporting eco-friendly initiatives. Not only does this differentiate the bank, but it also helps fulfill broader sustainability commitments while fostering goodwill among environmentally conscious customers.
Discount Platforms with Partner Deals, Coupons, and Offers
One of the latest trends is building a partnership benefit platform where banks collaborate with other brands to offer exclusive discounts, coupons, and commercial deals to their customers.
Imagine logging into your banking app and accessing deals for travel, dining, shopping, or even local services - all integrated into the banking platform.
These platforms don’t just add value - they create a reason for customers to keep coming back. By aligning with popular brands, banks can enhance customer engagement, drive loyalty, and offer a more holistic financial lifestyle experience.
This approach is especially powerful because it allows banks to position themselves as more than just financial service providers - they become enablers of everyday convenience and savings.
Service Hub Platforms for SMEs
Small and medium enterprises (SMEs) are the backbone of many economies, yet they often face challenges accessing the tools and resources they need to thrive.
Banks can create service hub platforms tailored specifically for SMEs, offering everything from accounting tools and digital tools for online presence to special offers on essential software packages like CRMs or inventory management systems.
These hubs can also feature traditional banking products, such as loans, lines of credit, and merchant services, seamlessly integrated into the platform.
By offering these value-added services in one place, banks position themselves as trusted partners in the SME sector, helping businesses grow while strengthening customer loyalty and engagement.
More Inspiring Global Examples
Let’s look at even more fascinating examples of how banks around the world are stepping up their Value Added Services game. Some of these might not have hit your radar yet, but they’re worth exploring.
Take Tangerine Bank in Canada, for instance. They’ve gamified financial education with their "Orangey Challenges." It’s a clever way to encourage customers to learn more about money management while rewarding them for their efforts. It’s a win-win: the bank boosts engagement, and customers walk away with better financial habits.
Then there’s Maybank in Malaysia, which has integrated food delivery services directly into its app. Customers can order meals from local restaurants without ever leaving their banking platform. It’s not just about convenience; it’s about making the banking app a central hub for everyday needs.
Bunq in the Netherlands is another standout. Their "PlantMyTree" initiative plants a tree for every €100 a customer spends. It’s a fantastic example of aligning services with environmental values—turning everyday banking into a sustainable action.
And how about Starling Bank in the UK? Their "Connected Card" feature allows trusted individuals to shop on behalf of account holders. It’s particularly useful for elderly customers or those who might need a helping hand, demonstrating how banks can deliver thoughtful, practical solutions.
Lastly, Discovery Bank in South Africa links health and wealth with their "Vitality Money" program. By rewarding healthier lifestyle choices with better interest rates, they’re blending financial and physical wellness in a way that feels both innovative and motivating.
These examples show that Value-Added Services don’t have to be one-size-fits-all - they can be creative, targeted, and deeply aligned with the needs of specific customer segments. It’s exciting to see how banks are transforming their services to go beyond transactions and into experiences that truly resonate.
What Goals Can Banks Achieve with Value Added Services?
-> Boost customer loyalty and retention.
-> Differentiate in a competitive market.
-> Drive revenue growth.
-> Create new revenue stream.
-> Enhance customer engagement.
-> Strength ESG commitments.
-> Support SMEs and driving economic growth.
-> Attract younger, tech-savvy customers like GEN Z.
-> Building brand trust.
VAS in Numbers
- Citigroup's Services division, which includes VAS such as liquidity management and trade finance, contributed approximately $4.5 billion in profits, accounting for half of the bank's total profits.
- A comprehensive financial "super app" Revolut's revenues surpassed $2.2 billion, with a record profit before tax of $545 million, reflecting the success of its diversified service offerings.
- Banks offering personalized VAS have observed up to a 40% increase in customer engagement.
- The banking sector anticipates a profit boost of approximately $170 billion over the next five years due to AI-driven VAS.
Wrapping it Up
In a world where customer expectations are constantly evolving, Value-Added Services (VAS) platforms are the catalyst that drives businesses forward. By integrating VAS into your core offerings, you create more engaging customer experiences and unlock new paths to growth.
If you don't know how to start with it or where to find reliable tech partner, contact Ulan Software at business@ulansoftware.com - and we will be glad to help you!
10 examples of value added services in Banks
More inspiring global examples
What goals can Banks achieve with value added services?
VAS in numbers
Wrapping it up