Spanish startups often talk about customer experience as the next battleground for fintech.
Yet a recent case in California suggests that empathy itself may be the missing ingredient in this race.
First City Credit Union, founded in 1937 and now managing nearly $1 billion in assets, has recently partnered with Ribbon to integrate what they call “productized empathy” into the member journey.
The initiative was put to the test when a grieving widow, Mrs. McSweeney, received a condolence bouquet and a handwritten note from the credit union—gestures made possible by Ribbon’s automation platform.
Productizing empathy to build loyalty
What could have been a closed account instead became a new membership, as the experience convinced her to join the credit union.
Ribbon’s strength lies in balancing automation with human care.
Its platform is designed to handle sensitive workflows such as condolence processes, which gives staff more time to focus on personal interactions.
“Our AI is designed to let institutions scale empathy,” explained Saeid Kian, CEO of Ribbon. “We want families to focus on grieving, not paperwork.”
For First City, this approach is more than a symbolic gesture—it is part of a long-term strategy.
“When our members face life’s hardest moments, we want to be present in meaningful ways,” emphasized Nav Khanna, the credit union’s CEO.
In Spain, where fintechs are increasingly looking for ways to stand out beyond pricing and speed, Ribbon’s model offers a new perspective.
It suggests that loyalty can be built not only on convenience, but also on genuine care and empathy.
As the market matures, the real question may no longer be who has the fastest app, but who can truly make empathy part of their service model.
This article includes a client of an Espacio portfolio company