Engaged banking offers big rewards (an increased customer base and greater revenues, for a start), but financial services organizations interested in implementing omnichannel solutions face meaningful challenges: your new and existing systems have to work together – as do their data – and you have to make room in your budget for a new solution. A customized Mindtree engaged banking approach can help tackle all three concerns.
First, let’s define terms. An omnichannel banking solution provides seamless integration of online and physical banking channels – branches, mobile banking, wearable technology, online banking and ATMs – so customers receive fast, secure, consistent service.
Sounds perfect, doesn’t it? But if you’re thinking about roadblocks, let’s look at the usual suspects.
Your organization probably has core systems that rely on conventional databases and methods of banking with disparate channels, product lines and business units to incorporate. To add digital touchpoints such as online banking, mobile banking apps, and wearables, you’ll have to integrate all these systems both with each other and with the omnichannel solution.
To engage with customers’ life journeys, banks must collect and analyze a lot of data to provide a personalized experience. Migrating to omnichannel banking means integrating existing data from legacy systems without data leaks, all while making room for new information and data analysis mechanisms.
In the wake of the global financial crisis, banks face considerable budget concerns. They want a low-risk way to adopt digital banking that will still yield a measurable ROI. [When we say “ROI,” we’re talking about business value – as defined by you.]
The Mindtree approach to engaged banking addresses these challenges and helps financial institutions adopt omnichannel successfully. Here’s the big picture:
To learn more about the Mindtree approach to digital services, download our e-book: Are You Living in a Digital Fairy Tale? Make Digital Real.