by Karol Andruszków

Examples of Value Added Services (VAS) in Banking

Photo representing the subject of the blog

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

Banks worldwide are incorporating innovative VAS to meet the growing expectations of their customers. Below are standout examples that highlight how these services are reshaping the banking industry:

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.

Look at Zelle 👀
Offered by numerous U.S. banks, Zelle enables customers to send money directly between bank accounts instantly, enhancing convenience for personal and business transactions.

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.

Look at Alipay 👀
Operated by Ant Group, Alipay is a leading digital wallet in China, allowing users to store payment information securely and make transactions without physical cards.

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.

Look at Monzo 👀
This UK-based neobank analyzes customer spending habits to offer personalized product recommendations, such as savings accounts or investment services, enhancing customer engagement.

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.

Look at Revolut 🎁
Revolut offers a loyalty program that provides cashback rewards and exclusive perks to its customers, adding significant value to their banking experience.

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.

Look at HSBC Expat 🌍
HSBC offers the Global Money Account, allowing customers to hold, send, and receive funds in multiple currencies, facilitating international transactions.

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.

Look at HSBC 👀
HSBC has implemented AI-powered chatbots to handle routine customer inquiries, providing 24/7 support and improving overall customer service efficiency.

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.

Look at DBS Bank 🛒
DBS Bank has developed the "DBS Marketplace," an online platform that connects customers with various services, including property listings, car sales, and travel deals. This integration allows customers to access a range of services directly through the bank's ecosystem, enhancing convenience and engagement.

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.

Look at BBVA 🌱
BBVA has developed a marketplace within its banking app that offers green products and services, supporting its Environmental, Social, and Governance (ESG) mission.

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.

Look at Chase Bank 💸
Chase Bank features a program where customers can access exclusive deals and discounts from a range of retail partners directly through their online banking portal or mobile app.

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.

Look at Starling Bank 👀
Starling Bank offers a Business Toolkit for SMEs, providing accounting tools, invoicing, and integration with other digital services to support their online presence and operations.

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.

By introducing VAS strategically, banks not only meet customer expectations but also achieve long-term goals like profitability, market leadership, and brand loyalty. It’s not just about banking anymore—it’s about creating meaningful, value-driven relationships.

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!

Categories
Table of Contents:

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

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