Posted by Puneet Chhahira (View Profile | View All Posts) at 11:09 AM
Channels were at the frontline of digital disruption in the banking industry and continue to be hugely influential in banking transformation. Channel experience is a critical factor in how customers rate their overall banking experience. Also, for an entire generation, the value of a bank's product and service offerings is only as good as its mobile channel. Channel innovation, therefore, still represents a huge opportunity for banks to deliver a differentiated and personalized experience to their customers. Little wonder then that it tops the innovation and investment agenda at a large number of banks.
Continue reading "Innovating for Omnichannel " »
Posted by Shabbir Mahesri (View Profile | View All Posts) at 11:01 AM
According to an IDC Infosys global cloud adoption study conducted late last year, the top two sectors to have formalized cloud strategies were telecoms and financial services, in that order. But when it comes to hybrid cloud adoption, financial services were the clear forerunners.
Continue reading "A la carte your cloud" »
Posted by Gaurav Singla (View Profile | View All Posts) at 8:36 AM
Banking jargon like multi-channel banking
, cross-channel banking and now, omni-channel banking, has led to confusion among bankers and customers alike. Bankers are unsure as to what banks actually want to offer to their customers, while customers do not know what they can expect from banks' channel banking solutions
Continue reading "Evolution of Channel Banking" »
Posted by Sunita Shelar (View Profile | View All Posts) at 7:00 AM
A pronounced shift in the banking scene, from brick and mortar edifices to virtual spaces, begs the remark, "Banks are dead, banking is alive." Giant strides in technology have brought about a sea change in the way banks function today, with on-the-move, push-of-a-button transactions across geographies and time zones, customer service sans human interactions, and all of this available 24x7x365. Another positive offshoot of this trend is that banks today cater to the literacy-challenged unbanked masses with basic banking services
and simultaneously attract high net worth individuals and corporate houses with privileged, elitist offerings, with equal ease.
Continue reading "Need for a Unified Content Strategy in the Changing Banking Scenario" »
Posted by Anupam Garg (View Profile | View All Posts) at 9:45 AM
Currency is broadly defined as anything that can be used as a medium of exchange to buy or sell goods and services. This need not necessarily be a physical object. In the barter system, which was a precursor to the system of money, goods and services were simply "traded" without any specific medium of exchange.
Continue reading "Virtual Currency" »
Posted by Amit Vats (View Profile | View All Posts) at 6:37 AM
The banker's definition of a 'channel' is notably different from that of the vendor community in general, and this is reflected in the kind of solutions existing today, which claim to solve the multi-channel puzzle.
Continue reading "It's a banking channel...No, I think it's another device!" »
Posted by Medha Mehta (View Profile | View All Posts) at 2:30 PM
At 11 a.m. there was maddening rush in my branch. It was peak summer, temperatures were soaring and customers were frustrated with how long the cashier was taking to single-handedly attend to them. Ironically, there was also a kiosk available for depositing cash, but it was completely ignored by the throng of people who preferred to wait in line so they could hand it over to an official. Unable to take it any longer, I started urging customers to give the machine a try; with a little help and within ten minutes, the lobby was empty of all but three. The lesson? Merely installing an alternative channel won't do the trick.
Continue reading "Channel Banking: Automated yet Human" »
Posted by Sathish Krishnan (View Profile | View All Posts) at 11:54 AM
Are banking customers happier using self-service than being served? Well, according to a study of nearly 27,000 customers of a U.S. retail bank, the answer to that is...an anticlimax. Apparently, users of self-service channels are neither no more nor no less satisfied with service than their branch banking brethren. That being said, self-service customers are less likely to change banks, if the move comes at a high switching cost. That's a double-edged sword, if there ever was one!
Continue reading "Are you being served?" »
Posted by Rakesh Aggarwal (View Profile | View All Posts) at 7:47 AM
Why? Because it is more than just a channel, an interface, another window to customers. Indeed mobile banking
has the potential to change the future of banking itself. And the lives of those excluded from the mainstream of branch banking.
Consider a market like India, where 40% of the population is unbanked, but 70% will have access to a mobile phone by 2016, as per Gartner. The mobile has emerged as a viable tool of financial inclusion. What it needs is support, in the form of government policymaking and product innovation, to realize its potential.
Continue reading "The Mobile to Bank the Unbanked World" »
Posted by Shekhar Kapoor (View Profile | View All Posts) at 5:58 AM
Mobile banking is staging a strong comeback in the United Kingdom, driven by smartphones and other 3G enabled devices which promise a rich user experience. Monitise, the mobile banking specialist, estimates annual mobile banking growth to be a whopping 30%. Mobile remittances are also on an upward trajectory, aiming at £6 billion by 2012.
Continue reading "Succeeding in UK with the bank-focused model of mobile banking" »