The Financial Services industry is changing. Information technology is becoming more important than ever as banks and credit unions work to implement robust IT systems in order to support online and mobile banking, and do so without creating excess risk. All of this change is helping Financial Services firms become more agile and responsive, and that is the key. The innovation taking place across the sector isbeing driven by evolving customer expectations, increased competition from financial technology companies and intense regulatory compliance pressure.
Customers are pressuring Financial Services firms to up their technology game, and creating true omni-channel experiences is critical. Accomplishing this hinges on:
- Making services available on a wide range of device types
- Ensuring data is shared seamlessly across these channels
- Establishing a smooth customer journey as clients shift between online, mobile and in-person channels
The infographic below details the process of reaching customer where they are.
An omni-channel experience pressures Financial Services firms to not only revamp their technologies, but also optimize their business processes. This is only possible when IT and the business align. You can't expect your workers to respond quickly to a customer query, for example, if they have to go digging to find the relevant data. Conversely, using business process management (BPM) tools to deliver data to your users in the proper context ensures they are always ready to meet customer needs.
All of this adds up to a situation in which creating an omni-channel experience to meet customer demands isn't just a matter of getting services out to your customers, but on properly aligning internal and customer-facing operations. Creating this optimized experience lets you improve customer interactions, giving you an opportunity to capitalize on the technology investments taking place in the back office.
And to learn even more about how omni-channel strategies transform financial institutions, download this eBook.
