Customer-Centric Digital Transformation
We help banks and other financial institutions become digitally driven organisations fit for the future.
21st century financial institutions face 21st century problems. Chief of these is the need for an ‘always-on’ digital approach which places the customer front and centre of their operations. With digital lifestyles, customers are becoming increasingly tech-savvy and want immediate, secure and easy access to their accounts and the services offered by banks and other financial institutions. At the same time, a smart digital strategy allows institutions to rapidly capture and analyse intelligent data insights and real-time trends about what customers really want – tailoring their services in an agile way.
Those that fail to digitalise effectively will be outpaced by their competition. But in the rush to meet the pressures of more demanding customers, some institutions are likely to fall victim to poorly executed digital efforts. A lack of strategy definition and in-house technical expertise can result in low confidence, slow progress and badly designed solutions – something that institutions simply cannot afford. Their standards of service and the digital experiences they provide are hugely important factors that impact customer choices and brand loyalty.
Critical Software has worked with various clients in the financial services sector, including international banks, building trusted and secure digital solutions for their customer journeys and helping them to understand how technology can transform business. Our approach is based on four main pillars:
- Reinventing the customer journey
- Leveraging the power of data
- Redefining the operating model used by institutions
- Building an intelligent, digitally driven organisation
Our solution places an omnichannel approach to the customer journey at its heart, identifying and resolving issues such as the secure collection and correlation of customer data between different channels. From arcane back-office processes to archaic front-end applications, we transform existing business technologies and integrate them with newer and better platforms. The goal? Improving how institutions interact with and serve their customers.
Understanding their customers, as well as their expectations and context, is fundamental to aligning services to real customer needs.
By leveraging the power of data science and artificial intelligence, we help our clients build the technological undergrowth which powers a highly customised service offering, transforming customer experience to unlock higher levels of efficiency. From the way financial products are configured to the full aspect and navigation of their online and mobile systems, intelligent algorithms work to shape effective personalisation experiences in financial services.
As customer loyalty to incumbent institutions is challenged by new entrants and new services, the ability to ‘read’ customers mind and invest in their success may be the decisive factor in incumbents’ survival.
Our long-standing experience, proven methodologies and team of expert engineers create bespoke and resilient solutions for our clients, working to their specific requirements. We’re not just technically-minded though – we know the world of finance and we work closely with our clients to understand their business objectives. After all, technology is nothing without a clear plan. On completion, we ensure our clients are able to fully own their digital strategy and the technologies that support it.