CUSTOMER JOURNEY

Digital banking: walk a mile in your customers’ shoes How you can step up the customer experience with engaging, immersive and personalized services

In today’s experience economy, people expect their banks to guide them on a personalized journey that helps them achieve their near and long-term financial goals — not try to sell them products and services they may not want, need or understand. To operate in this new way, you need to know (and ideally, predict) what the customer needs at important life moments — a kid going off to college, a new baby, retirement, a new house — and then propose tailored offers at the right time, with seamless access and consistent quality across all physical and virtual channels.

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“Is my dream possible?”

Meet James, a long-standing customer of a retail bank we’ll call “Bankinect.” After years of saving and dreaming, he is visiting a neighborhood where he hopes to buy his first house. As he strolls down a much-loved street and finds the perfect property with a “For Sale” sign out front, he wonders, “Can I qualify for a mortgage? What would the monthly payment be? Is my dream possible?”

James doesn’t want to spend time scouring Bankinect’s website to find a mortgage that might work for him, or make an appointment at a faraway branch. He wants to know right now if his dream could become a reality.

How about real-time loan offers with just a tap?

Now, imagine that Bankinect has a mobile app that gathers contextual information from external sources, including James’ GPS location from his phone and up-to-the-minute real-estate listings from Zillow. The app uses APIs to combine this information with the bank’s internal back-end data about James’ accounts, income and spending habits to provide him with customized loan offers in real time.

With new innovative financial technology firms (FinTechs) nipping at your heels, this ability to “walk a mile in your customers’ shoes” is an essential step in your digital journey and isn’t as far as you might think. In fact, you probably already have all the data you need to transform the customer experience by making it connected and personalized everywhere. All you need now is a way to bring it all together with integration, APIs, beautiful apps and real-time analytics.

To deliver the dynamic and personalized interactions customers now expect, banks need to create fast and innovate often.

By bringing partners, developers and employees together in a powerful customer experience network with a shared purpose, they can connect data from anywhere to co-create services and experiences that generate new revenue streams and increase customer loyalty.

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CX NETWORKS IN FINANCIAL SERVICES

Co-create and co-innovate with a customer experience network

Axway AMPLIFY™ is a cloud-enabled data integration and engagement platform that empowers banks to create customer experience networks, where they join forces with their expanding digital ecosystems to co-create and co-innovate immersive, responsive and personalized digital services and experiences.

AMPLIFY provides the app development, integration, API lifecycle management and analytics that banks need to better anticipate, adapt and scale to meet ever-changing customer expectations. They can:

• Innovate quickly by creating digital “mash ups” of existing services (loan, policy proposal, payment, etc.)

• Provide a seamless and secure customer experience across mobile, online, call center, ATM and in-branch interactions

• Co-create and innovate with partners to aggregate digital services, open distribution channels or

share information to accelerate digital innovation and create value for the bank’s entire ecosystem

• Monetize data and monitor SLAs in real time using powerful analytics

API-first approach, customer-centric experience

Leveraging existing data and services to create a totally new, high-value customer experience is true innovation, and it is how banks must evolve in the experience economy.

AMPLIFY is a unified API-first platform that securely fuses data and services together to create digital banking mashups like an app for personalized loans on the fly. For example:

• An external API requests authentication credentials as James signs in on his smartphone. He is also prompted to enable geolocation services on his device.

• Policies establish links between the bank’s back-office loan services data, risk and screening

systems, its credit bureau partner, and external pricing data for the specific property James is interested in.

• Within seconds, the mobile app presents James with the customized loan information he wants and needs — and the bank has earned a happy customer for life.

• Mobile analytics help Bankinect improve conversions with visibility into usage and performance.

Follow along as “Bankinect” uses Axway AMPLIFY to reimagine the customer experience.

WATCH THE DEMOhttps://www.youtube.com/watch?v=7m1k1cHpp1U&feature=youtu.be