Flawless On-Boarding Is Indispensable for Growth and Customer Loyalty
This year at #Sibos 2017, breakthrough technologies will be explored as a driving force impacting financial institutions by delivering immense value to customers. I invite you to meet with an Appian executive for a demonstration and discussion on how innovative technology could drive flawless customer on-boarding and deliver an omni-channel experience, effectively driving top-line revenue and profits growth.
Financial institutions must deploy and ensure smooth on-boarding experience to retain profitable customers and thrive in the long run. Numerous case studies exemplify that banks who master the on-boarding process can defend against early attrition, improve success with cross-sell and up-sell, and successfully transfer revenue-generating assets in-house much faster.
I invite you to meet with an Appian executive at Sibos to explore using a digital platform approach to implementing a flawless on-boarding process.
On-boarding is where the relationship begins once the initial courtship ends. Fact-based research indicates that customers’ lifetime value and profitability is virtually set in stone in the first 90 days of a relationship. However, the path to successful on-boarding includes major hurdles. By definition, the on-boarding process is cross-departmental, creating communication and collaboration challenges. Adding to these obstacles are inflexible legacy systems that lead many institutions to revert to manual processes, which are error-prone and challenging to optimize.
How can modern banks ensure a flawless on-boarding process?
Flawless On-boarding Demands Innovative, Yet Proven Technology
The emergence of new technologies brought by FinTech companies have had an indelible impact on banking services. Customer expectations are continuously reset with the massive influence on commerce by the GAFA effect, led by Google, Apple, Facebook, Amazon—all of whom have set high quality standards.
Creating great on-boarding experiences demand superior and proven on-boarding information technology systems. The only certain way to deploy on-boarding successfully is by revamping the existing process application on a modern work platform.
How Omni-Channel Strategies Transform Financial Institutions
Digital disruption is changing the customer service game. The convergence of rich data and digital platform technology is enabling omni-channel strategies for banks, enabling financial institutions to reach customers where they are via connected experiences. It’s all about delivering seamless and consistent interactions between customers and their financial institutions across multiple channels—anytime, anywhere.
For banks, omni-channel requires the ability to understand and serve customers with a view across all activities and channels—all based on integrated systems of engagement. The good news is that an omni-channel approach provides numerous opportunities to understand and interact with customers continuously, consistently, and conveniently using context to create more relevant, mutually satisfying experiences.
So, how and where should leading banks start?
The technology approaches of the past will clearly not deliver an on-boarding system that will provide the organization with long-term competitive advantage. But utilizing a modern innovative platform that enables vastly greater automation, communication, and collaboration than any traditional IT system can get you there.
Appian offers an innovative technology platform that can provide modern bankers highly flexible on-boarding systems that turn a challenging process into a pillar of strength and a foundation for rapid future growth.
I look forward to seeing you in Toronto.
Vice President, Global Banking and Capital Markets