Given the ongoing competitive pressures being levied on consumer and commercial banking institutions, most digital transformation projects start with components that are client facing. These solutions are critical in purpose; presenting a new, easier to work with and appealing look and feel for the bank. Never the less, while these achieve the short-term goal of enhancing the way bank customers can interact with the bank, they are fraught with limitations and fundamental barriers for delivering the service improvements that they by design, inherently promise.
Issues start with the fact that portal applications are more often than not, disconnected in look, feel and functionality from the back-office systems necessary for conducting the end-to-end, bidirectional processing of a specific client request. Rather, what we see are numerous starts and stops, where one system reaches its logical end and then hands off to another system or person. Practically stated, the ability to launch an onboarding process from a portal application creates less customer friction initially, but unless that application is supported by end-to-end processing and seamless two-way client interaction, processing improvements are rarely achieved and customers are ultimately less than impressed.
With this in mind and in response to feedback from both customers and the broader market at large, we have released an Omni-channel product, that will serve as an enhanced presentation layer for the bank’s prospective and existing customers, while also offering the seamless integration with client onboarding and credit product origination operational processes.
Our product “OmniConnect” features a dynamic and functionally extensive Online-banking platform (OLB) served through Web and Mobile (iOS and Android). This client facing front-end can then be seamlessly integrated with our AccountConnect Customer Onboarding and LoanConnect Credit Product Origination solutions, delivering the true front-to-back functionality necessary for promoting faster processing time, improved risk management and compliant behavior throughout.