Orchestrating Omni-channel experience for the banking customer

The digital landscape today is very different from what it was even a few months ago. With the swiftness in adapting to the digital, the surge in online transactions, the explosion of social media channels, and the use of big data, the digital landscape has evolved, and how!

And, with this shift, most enterprises have strategized ‘Omni-channel Customer experience’ as key to navigate this new digital normal.

The rapid move from offline to online has also quietly shifted banks transitioning towards an Omni-channel strategy. The internet and mobile penetration is at an all-time high, and customers expect more from their banks, both online and in-person. The more connected the customers are, the more they expect from their banks too.

Banking on Customer-centricity

Customer centricity seems to be the driving force as the informed and connected customer is not only demanding but will easily shift his choice of a bank if he is unsatisfied. So, we have banking products offered via multiple channels simultaneously as banks try to keep pace with the demands of a connected customer seamlessly.

Today, customers interact with the bank anywhere and everywhere. Typically, customers interact with banks via their mobile app, website portal, in-person at a branch, ATMs, chatbots, social media channels, etc. While banks have enabled this ease in terms of offering multiple touch-points, the real differentiation lies in the seamless experience.

A Seamless, Omni-channel banking experience

A seamless Omni-channel customer journey means the customers can easily shift channels without having to re-fill information, re-submit forms. It’s not surprising that customers expect consistent, contextual brand experiences across channels.

Banks can do all of these with “save now, continue later” functionality, that continues the process regardless of device. The customer can simply pick up from where he left and continue on the new channel with absolute ease.

Another important aspect of the customer buying journey is online search. Most often, customers research online first and then decide with the bank staff especially when it comes to investments and financial products. This means online searches are more about the new products, offers, schemes, interest rates, etc., but to secure the services the customer visits the branch. A seamless Omni-channel banking experience is one where customers can switch from one channel to another and the bank doesn’t lose track of their journey.

Let technology do the talking!

Today, most banks are leveraging digital-first strategy to keep pace with the customer demands such as seamless channel shifting, enhanced, and frictionless digital interactions. The idea is to focus on the evolving customer journey, and leverage technology to keep up with changing consumer behavior and demands. Here are a few pointers:

• Understand the customer journey with a unified platform that captures data, preferences, and patterns.
• Get ahead with technology accelerators like artificial intelligence (AI) and machine learning (ML), that help gain insights into customer behavior and intent, deliver relevant recommendations, cross/up-sell products, and engage customers with personalized marketing and messaging.
• Use of Advanced analytics and data mining to capture customer behavior, develop insights, and tailor products and value propositions.
• Customer data and behavioral patterns can eliminate friction points experienced by customers, such as having to fill in the same fields across multiple online and mobile forms.
• A perfect eco-system that enables collaboration between digital and human is a great way to maximize efficiency. A well-equipped sales or customer care team can ensure reduced churn and better customer satisfaction. While digital touch-points help better with analytics, there has to be sync-up with offline teams. Customers will know it at the first instance when an Omni-channel experience is missing- for instance, the customer care agent is lost on the application they just made online.

Make way for Omni-channel experience

Did you know creating a seamless Omni-channel offering can drive revenue, reduce churn, make long-lasting customer connections, and improve brand image?

Banking experience has gone digital

There is no denying that banks have evolved from a completely traditional approach to a multi-touch-point scenario.

To look at this more optimistically, the ever-connected customer offers banks with unparalleled opportunities to delight customers. Agreed, customer expectations are at an all-time high but it has also never been easier to connect with customers, understand their needs, and meet them where they want and in ways they want.

A digital engagement platform like UniServe™ NXT offers Omni-channel customer experience solution that truly captures the customer journey across all touch-points. An integrated, customer-centric approach that ensures banks exceed their customers’ needs, and demands. It bridges the gap between digital and physical, helps you stay ahead of the customer with historical data, and intelligent forecasts while connecting all the customer data so that banks can have a single view of their customers across desktop and mobile.

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