Multi-channel banking is old hat. When it comes to retail banking, ‘omnichannel’ is the new darling of the industry. Omnichannel is far more than a fleeting infatuation. It’s an approach that can deliver serious benefits to banks’ bottom lines. In order to tap into these results, banks need to raise their game to meet customer expectations and keep them on-board. Key to this is the ability to deliver a seamless experience over any device.
The multi-channel approach meant more customer touchpoints with the bank. But with that came mounting IT complexity. By implementing a unified omnichannel strategy, banks can reap the rewards of a 360 degree view of customer activities. This will provide them with a detailed profile for each customer. As a result, banks will be able to better determine how to allocate budgets to providing targeted services to customers across the entire suite of channels.
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