The Record - Issue 21: Summer 2021

113 F I NANC I A L S E R V I C E S “Banks should be part of their customers’ everyday lives. They should make efforts for timeless engagement and aim to make each customer a brand ambassador. Every customer ’s need is different and the goalposts are continuously shifting. Customers want easy-to-use self- service products, like Netflix and Amazon, and expect the same experience from their banks. Now is the time for banks to embark on their digital transformation journeys to provide customers with banking that is designed around their lifestyle through digital offers, personalised services and timely insights. The three main aspects of contextual lifestyle banking are: acquisition, via self-service customer on-boarding and content management; engagement, via gamification, e-marketplaces and rewards and loyalty management; and servicing, via virtual cards and social banking. The ability to deliver a differentiated experience in every step of the journey is the key in retaining brand loyalty. Let’s welcome the era of the ‘experience economy’.” “At VeriPark, we believe customers should tell their story only once, no matter which or how many channels they are using. When people interact with their bank, they demand to be treated as unique individuals and expect engaging interactions that fit their connected world. With our Intelligent Customer Experience suite, whether they apply for a loan, open an account or dispute a credit card transaction, customers are able to move seamlessly across devices and channels. This results in a consistent and personalised customer experience at every touchpoint. When the pandemic struck, banks had to come to terms with the newfound space between them and their customers. As the focus fell on replacing paper-based and in-person processes with their digital alternatives, it became crucial to maintain personalised client interactions and continue to serve, solve but also sell. To achieve that, we offer banks a carefully planned and strategic approach, that will serve them well long after the pandemic ends.” “Automation is an absolute for operational scalability, but also to deliver exceptional experiences to banking customers. For example, payment processing increasingly relies on automation, providing customers with quick and reliable digital access to their accounts. Nintex products allow banks to automate operational workflows, enabling customers to request setup, access and changes to payment options. This automation provides a self-service tool to customers and scales back-office operations. The request form is created in Nintex DocGen and Nintex Workflow processes the request, which then connects to Nintex RPA to fulfil the request. Nintex RPA helps to process data quickly and with greater accuracy, increasing efficiency and freeing up valuable human resources so they can spend more time performing meaningful tasks and focusing on customer service. Nintex Promapp allows banks to map their processes, as well as create governance around those processes thereby adhering to risk and compliance policy and procedures.” Karen Reichle Vice President of Global Customer Success Engagement at Nintex Rajesh Saxena CEO of Global Consumer Banking at Intellect Design Arena Zubair Ahmed EVP & General Manager of MEA at VeriPark