Did you doze off and miss the digital banking revolution? If so, here is your indispensable guide to choosing a digital banking platform
The innovative nature of the financial services industry calls for constantly introducing new solutions to the market. Nowadays, implementing digital banking platform is a must, and should be thought of as a continuous evolutionary process, and not as a project with a beginning and an end.
Banking a modern affair?
Banking customers are insistent in their demand for modern banking platforms, and banks are falling over themselves to provide innovative solutions. Those banks that did not keep pace with the development of platforms in recent years may find themselves having to board a moving – or in some cases, speeding – train. True, the first wagons have left the station, but late adopters may make use of the experience of entities that have already ridden this track. Although no implementation process of innovation can pass without a hitch, you can and should avoid the errors made by the early pioneers.
Make sure you stay ahead
In times of very strong competition, when all manner of bank fees and charges have been trimmed, banks no longer compete on price. The importance of the parameters of banking products has been reduced, outweighed by the increasing demand for enhanced user experience, and paving the way for a properly designed interface for internet and mobile banking to take centre stage. Financial products have always been perceived as somewhat complicated, but the right kind of user experience can ensure that a customer’s dealings with a bank are convenient, comprehensible and rewarding. The kind of user experience that turns tedious tasks into a pleasant experience, at the same time reflects the specifics of the banking brand (brand personality, brand communication, tone of voice), will also go a long way in turning ordinary customers into loyal brand ambassadors. In this sense, every single cent spent in properly designed customer experience is an investment with a potentially huge rate of return […]