This year’s World Retail Banking report states “banks are struggling more than in the past to provide consistently positive experiences to their customers”
  • IT infrastructure with complex network of processes, escalating costs and manual dependencies to deliver communications through multiple distribution channels
  • Banks do not have a single view of their customers across lines of businesses(savings, credit card, loans)
  • Higher operational costs due to manpower intensive change management and mail finishing
  • Downstream applications like CRM and collections do not have consistent view of customer statements; long call handling times and high customer disputes
  • E- Adoption rates of customers to digital mediums are low, only 10% of the subscribers opt for e-delivery and make online payments. Source: Finextra Research
  • Today’s diverse customer base requires a balanced network of distribution channels that work together fluidly