Omni Channel Banking


Banking Channels’ capability has consistently evolved, most recently as the Omni-Channel. Importance of the Omni Channel arises from the fact that in the era of dynamically shifting preferences, 98% of millennial move from device to device, and channel to channel each day, and 90% use multiple screens sequentially to complete a service. While a customer segment may prefer to do an Email or Phone based request for Support or Resolution, they are most likely to use the Digital Channels to avail a transactional Banking Service. Digital marketing and cross-selling is also heavily dependent on digital channels, customer experience and 360o view. An Omni-Channel platform is a compelling need for banks to grow in the competitive market.

Three Challenges to consider in the Omni Channel

  • Services are fragmented - Discrete, disjointed distribution and legacy systems have evolved over the decades of growing banks. Many services are also external to banks (e.g. credit approval, KYC check, social login)
  • Multi-Channel Lifestyle - Multiple channels are the new lifestyle choice and if not fulfilled, bank can lose customers
  • Need of Seamless Experience – With different channels, comes the challenge of keeping consistent content and seamless experience from channel to channel

Business Benefits

  • Customer Acquisition, Retention and cross-selling up by 20%+
  • 40% Faster Deployment and cost-effective
  • Enable multi-channel digital lifestyle
  • Foundation ready for API Banking and Digital Marketing