The jolly joker platform for customer-friendly banking experience Part 1.
What is omnichannel banking platform?
The term ’omnichannel banking platform’ refers to a digital banking system which allows clients to access banking services through multiple channels: online baking portals, mobile apps, ATMs and physical branches as well.
What is the goal of omnichannel banking platform?
The main objective of designing an omnichannel banking platform is to provide bank clients with a seamless and consistent banking experience across all available channels, both physical and digital.
The system, for example, allows a customer to start a transaction on their mobile app and complete that in a branch without having to start the process over again.
Furthermore, omnichannel banking platforms use data analytics and customer insights to personalize their services, offer targeted promotions and full range of financial services for the clients with respect of their financial situation.
As this platform is a way to convenient and flexible, personalised banking services, implementation can enhance customer satisfaction and undoubtedly contribute to the competitive advantage of the bank.
There are several advantages that Omnichannel retail banking offers for both customers and banks:
1. Variety of available banking channels: customers can access banking services through several channels, from which they can choose the one which is the most convenient and best suits to their user preferences
2. allowing them to choose the most convenient way to interact with their bank. They can start a transaction on one channel and complete it on another without interruption, resulting in a seamless and consistent experience.
3. Increased customer satisfaction and loyalty: Omnichannel banking provides customers with greater flexibility and convenience, leading to higher levels of customer satisfaction and loyalty. This, in turn, can result in increased revenue and profits for banks.
4. Personalization: Omnichannel banking platforms use data analytics to offer personalized banking experiences based on customers' behavior, preferences, and history. This enhances the customer experience and increases engagement with the bank.
5. Cost savings: Omnichannel banking platforms can reduce the costs associated with maintaining physical branches, as customers can conduct transactions through digital channels. This can result in cost savings for banks and potentially lower fees for customers.
6. Competitive advantage: Banks that offer an omnichannel banking experience gain a competitive advantage in the market. It enables them to attract and retain customers by providing them with a convenient, personalized, and seamless experience that sets them apart from competitors.
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