HOW BANKING CUSTOMER JOURNEY HAS TRANSFORMED POST THE PANDEMIC
As a new decade begins, the banking industry is trying to adjust business models to reflect a more digital ecosystem due to the on-going pandemic.
Let’s look back and compare the banking customer journey before and after COVID-19, and why there is an urgency for change in the banking environment more than ever.
HOW BANKING CUSTOMER JOURNEY HAS TRANSFORMED POST THE PANDEMIC
As a new decade begins, the banking industry is trying to adjust business models to reflect a more digital ecosystem due to the on-going pandemic.
Let’s look back and compare the banking customer journey before and after COVID-19, and why there is an urgency for change in the banking environment more than ever.
Leave the flat and get outdoor
Leave the flat and get outdoor
Rich UI/UX Development for omnichannel customer experience
Physical documents required: Carry ID & other personal documents
No physical documents required for verification
Customer onboarding with e-KYC & Intelligent OCR solution for smooth on-boarding experience
Travel to the closest branch
Log in to a bank account with credentials
Progressive Web Application development with end-to-end digital assurance solutions for superior customer experience
Wait inline
No queue:
Everyone is the boss
Mobile-first banking at fingertips to empower customers to manage their finances from anywhere – accounts, deposits, loans, transfers, and lot more.
Fill out the application
- Get missing documents
Auto-fill the form with account details
Digital System Integration & Analytics for eliminating data silos by integrating banking operations
Application in process
- Banks employees involved
- Subject to bank working hours
- Manual errors & bottlenecks
Algorithm at work
- Automatic imports via API’s
- Flexible algorithms
- Superior customer experience
Business intelligence with data processing and analytics for hyper-personalized customer experiences.
Final product decisions (Manual approvals)
- Lower approval rates
- Higher rejection
Turn Around Time (TAT)
- Few seconds to minutes
Robotic Process Automation to improve speed and accuracy of back-office operations in turn eliminating human errors.
