How Commercial Banks Are Accelerating the Customer Journey [Infographic]
Blog: Appian Insight
Commercial banks have long grappled with process workflows that make new customer on-boarding a slow, tedious process. In many cases, employees must move back and forth between digital and paper-based processes, interact with users in other departments and ensure customer-facing interactions go smoothly. All told, the traditional process workflows surrounding commercial bank customer on-boarding can be slow and tedious, leaving prospective clients with a negative first impression.
Business process management (BPM) software empowers commercial banks to digitize their processes, letting them enact operational strategies that create a smooth customer journey.
Commercial banks are facing new challenges as customer abandonment rates increase. At the same time, greater parity in services is making it extremely difficult for banks to differentiate themselves. These factors come together to make customer service the primary way for firms to gain a competitive edge, and effective on-boarding processes are the first step in finding success.
BPM-based digital platforms connect data and processes across lines of business and allow organizations to quickly create unique apps to meet their specific needs. These capabilities empower commercial banks to personalize their workflows and on-boarding processes based on the specific needs of their clients. The result is a faster, more efficient and increasingly customer-focused on-boarding setup that fuels engagement.
Creating an engaging customer on-boarding experience hinges on connecting the disparate parts of your organization in order to keep users attached to the data and processes they need to get the job done. A digital platform accomplishes this by aligning process and data workflows and offering app development platform functions to ensure your employees get the information they need, when they need it. The result is an on-boarding process that is easier to manage internally, leading to a better experience for customers.
Learn more about accelerating the customer journey in the new eBook: Want to Accelerate the Customer Journey? Don’t Wait on these Three On-Boarding Improvements.
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