Digital Banking Environmental Checklist Please assess to what extent digital transformation has already become part of the culture in your organisation.
Do you know your customers’: Personal data Financial profile and history Habits and behaviours Areas of influence Do you have social media presence? Corporate website Facebook Twitter Other communities Do you have a community? Groups of customers associated by profile as defined by marketing An internal employee community in the intranet A customers’ community on the internet An open community on the internet Can queries and complaints be addressed at: Branches? Corporate web sites? Through social media channels? Through a community of users? Is there a customer rewards scheme in place? Standard, on average balances per product Based on product usage By social media interactions By peer-praised activities in the user community
The more boxes you can tick in this list, the more you are ‘in the game’. A traditional banking approach will tick only 8 to 10 boxes. A modern enterprise geared to digital banking will tick almost all of them, or at least 12. The list above is one that will define your flexibility. Your ability to react, analyse and learn. In order to assess the foundation for your digital transformation strategy please review the technical check list. GFT Group | › gft.com
Digital Banking Technical Checklist Your digital transformation needs a solid foundation, built on four corner stones.
Digital platforms Is your backbone or backend solid, stable, efficient, online, and available 24/7? Do you have a multichannel strategy? Do you have an omnichannel strategy? Are your applications responsive? Personal finance management Do you provide customers with graphical, visual or forensics reports of their finances? Do you have an alert system for the financial events your customers experience? Can your customers set financial objectives and track them? Are you able to issue prescriptive solutions to avoid undesired situations or issue forecast recommendations to customers? Real-time decisions Do you have a big data cluster? Do you store customers’ information for processing Can you take real-time decisions depending on customer actions? Can you push ad-hoc, real-time offers, products or recommendations to customer apps or devices? Mobile payments Are your websites/apps able to handle all kinds of money transfers? Do you also provide peer-to-peer (P2P) payment options? Do you have NFC (or similar) payment solutions? Can you start a payment from a picture of a bill or from a PDF?
A traditional banking approach should get around 8 points and a fully digitally oriented approach would score at least 12. An enterprise scoring 16 has the necessary foundation to be on track and cope with the pace of digital transformation. But your work is never done. As we describe in our Point of View, customersʼ needs will change and so will technologies GFT Group | › gft.com