Reading Time: 38 mins

HOW BANKING CUSTOMER JOURNEY HAS TRANSFORMED POST THE PANDEMIC

As a new decade begins, the banking industry is trying to adjust business models to reflect a more digital ecosystem due to the on-going pandemic.

Let’s look back and compare the banking customer journey before and after COVID-19, and why there is an urgency for change in the banking environment more than ever.

HOW BANKING CUSTOMER JOURNEY HAS TRANSFORMED POST THE PANDEMIC

As a new decade begins, the banking industry is trying to adjust business models to reflect a more digital ecosystem due to the on-going pandemic.

Let’s look back and compare the banking customer journey before and after COVID-19, and why there is an urgency for change in the banking environment more than ever.

technologies_you_should_invest_for_the_future

BANKING BEFORE
COVID-19

banking_after_covid_19_84 × 84

BANKING AFTER
COVID-19

banking_before_covid_19

TECHNOLOGIES YOU SHOULD INVEST FOR THE FUTURE

leave_the_flat 84 × 84

Leave the flat and get outdoor

leave_the_flat 84 × 84

Leave the flat and get outdoor

rich_ui_ux_development_for_omnichannel_customer_experience

Rich UI/UX Development for omnichannel customer experience

physical_documents_required

Physical documents required: Carry ID & other personal documents

no_physical_documents_required_for_verification

No physical documents required for verification

customer_onboarding_with_e_kyc

Customer onboarding with e-KYC & Intelligent OCR solution for smooth on-boarding experience

travel_to_the_closest_bank

Travel to the closest branch

log_in_to_a_bank_account_with_credentials

Log in to a bank account with credentials

progressive_web_application

Progressive Web Application development with end-to-end digital assurance solutions for superior customer experience

wait_inline line draw

Wait inline

everyone_is_the_boss

No queue:
Everyone is the boss

mobile_first_banking_at_fingertips

Mobile-first banking at fingertips to empower customers to manage their finances from anywhere – accounts, deposits, loans, transfers, and lot more.

fill_out_the_application

Fill out the application

  • Get missing documents
auto_fill_the_form

Auto-fill the form with account details

digital_system_integration

Digital System Integration & Analytics for eliminating data silos by integrating banking operations

application_in_process

Application in process

  • Banks employees involved
  • Subject to bank working hours
  • Manual errors & bottlenecks
algorithm_at_work 84 × 84

Algorithm at work

  • Automatic imports via API’s
  • Flexible algorithms
  • Superior customer experience
business_intelligence_with_data

Business intelligence with data processing and analytics for hyper-personalized customer experiences.

final_product_decisions

Final product decisions (Manual approvals)

  • Lower approval rates
  • Higher rejection
turn_around_time

Turn Around Time (TAT)

  • Few seconds to minutes
robotic_process_automation

Robotic Process Automation to improve speed and accuracy of back-office operations in turn eliminating human errors.

TRANSFORM FOR THE SELF-SERVICE CUSTOMER-FOCUSED BUSINESS WITH THE RIGHT TECHNOLOGY FOR

superior_customer_experience

Superior Customer
Experience

mobile_friendly_process line drawing

Mobile-Friendly
Process

a_true_time_saver line drawing

A True
Time Saver

365_24x7_open line draw

365*24*7 Open

quick_approvals graphic icon

Quick Approvals

zero_to_minimum_human_intervention

Zero to Minimum
Human Intervention