named a in the Gartner's
Magic Quadrant for
- Low-code platform
In the age of overwhelming digitalization, financial institutions should consider transforming the conventional touchpoints of customer communications towards a unified omnichannel approach. As customer satisfaction continues to be a number one priority in the banking industry, it is crucial for financial institutions to coordinate and strategize customer interactions, in order to prioritize budgets, expand brand awareness and establish a strong connection with the customers. Interaction with customers across all available channels is not just helping to establish great relationship with the customers – it also provides banks with new ways to save and make money. For example, the average cost to a lender for a mobile transaction is 10 cents while a desktop-transaction is 20 cents, and an ATM transaction: $1.25
Today’s consumers want to exploit all available channels to communicate with their bank. Social media becomes one of the most important components that define the process of customer service. In fact, 43% of customers expect social channels to be integrated with other customer service channels.
Despite the fact that multichannel banking has been around for quite a while, it is imperative to understand a unique nature of each communication channel and have a 360-degree view of every customer while developing an omnichannel banking strategy. A new level of personalization allows banks to avoid inconsistency in customer experience regardless of the means and points of interactions.
As mentioned above, customers use different channels to communicate with their banks. Usually, the average customer is able to choose from four major communication sources:
Statistically, the satisfaction levels for servicing at a branch are the highest, with 71% of respondents answering positively to a satisfaction survey, while mobile banking cover over a third of all interactions worldwide. It is crucially important for almost half of all US bank customers to have an ATM as a banking option in their financial institutions. Delivering customer service of the highest quality throughout all communication channels is what makes omnichannel approach the most sensible. One of the best ways to manage customer journey on each stage of interactions with financial institutions is implementation CRM that is designed specifically to match the requirements of the banking industry.
We’ve reviewed industry’s benchmarks and statistics and developed a guide that can serve as a starting point at building a customer centric banking system. This research will showcase the best practice processes to achieve the omnichannel goal in banking.
CEO and Managing Partner Creatio
The last 17 years have been an incredible journey for our team at bpm’online. When we started the company, it was just a handful of young graduates with big dreams, ready to work hard to achieve them.
Over the years, we have experienced lots of ups and downs of growing and running a business. However, there has always been one thing that inspired us: the powerful, unique solutions created on the bpm’online platform by our community of partners and customers, many of whom I am proud to call friends.
Our customers and partners use bpm’online platform and CRM solutions to bring business ideas to life through automation. Solutions that they create reflect unique differentiation of their companies, these solutions are their own creations. It is in the DNA of our customers and partners to generate ideas, create, and to change the status quo. And we’re thrilled to honor and support the creators in each of them!
With that, I am very excited to share the news… Our company has changed its corporate and product names to Creatio!
The new name reflects our strong belief that everyone will become a developer, able to automate ideas and create custom solutions in minutes. We call these solutions “creatios.”
We have rolled out the Creatio renaming on October 30, 2019. I hope you’ll enjoy a recording of an online launch event at creatio.com/new-watch
While our name is changing, the strategy, products, our team and commitment to empowering our users with the best low-code / no-code BPM platform and sophisticated CRM products remain the same. The new name only reinforces our vision of creating a world where any business idea can be automated in minutes.
Please visit our FAQ page for more information on the renaming process. As always, I'd appreciate your feedback and I'm happy to answer any questions.
CEO and Managing Partner