Examples of Value Added Services (VAS) in Banking

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 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.

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 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.

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.

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.

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.

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.

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.