Whitepaper: Customer experience in the new reality: Challenges for banking ecosystems

Banks are definitely no longer just providers of banking and financial services. In the new digital reality, these institutions are expected to become partners that will support clients daily and make their business and work easier. To respond to those changes, it is important to focus entirely on the needs of our customers and provide them with additional services and products that go beyond transaction banking.

Banks and financial institutions more and more often provide customers with tools that allow them to establish a relationship with the bank and use the products and services it offers in an easy, intuitive way. The common trend of moving all banking services to the internet is the essence. The entire life cycle of the relationship is digital, with a focus on maximizing customer satisfaction and the best possible experience the customer has when interacting with a financial institution.

That is why aggregates, the so-called Ecosystems, have become so popular, especially for business customers. These customers need to use many service providers to support basic operations of their businesses on a daily basis. Their providers include leasing companies, factoring companies, various types of authorities, insurance companies, debt collection companies, and accountants. To this group also belong IT companies offering solutions such as: on-line shops, tools for digital document workflow and exchange, digital signatures, analyses, and many, many more. Ecosystem is the idea of creating an environment around the core banking platform. It is a customer-friendly environment offering a Valuable Added Service (VAS). In addition to higher customer satisfaction levels and additional revenue per relationship, ecosystems reduce the potential risk of losing that customer. Read this whitepaper and learn what your customers’ needs are in the new digital reality, and how you can respond to them with your banking platform.

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