The post Covid-19 era has created new data where banks try in various ways through mainly reducing customer service costs and by offering new more profitable products and services. The core of the most necessary digital transformation is the change of mentality in terms of the type of financial contact and the bank-client relationship.<\/p>\n
The<\/u><\/strong> Core<\/u><\/strong> of<\/u><\/strong> Digital<\/u><\/strong> Transformation<\/u><\/strong><\/p>\n This new bank-client relationship needs to be reinvented so that there is a completely new approach, starting from marketing department and attracting customers department to end up to the provision of banking products to payments and transactions.<\/p>\n by Thanos S. Chonthrogiannis<\/strong><\/p>\n \u00a9<\/em>The law of intellectual property is prohibited in any way unlawful use\/appropriation of this article, with heavy civil and criminal penalties for the infringer.<\/em><\/p>\n Since consumers and prospective customers have real-time access to smart digital services, and through the internet and their mobile they can do whatever transactions they want with great ease.<\/p>\n In addition, banks need to redefine their strategy in key areas such as front office transformation regarding the bank’s relationship with customers and partners.<\/p>\n The customer’s way of contacting the bank through multiple channels, such as the internet, telephone and\/or retail banking, is no longer considered customer-friendly or effective for the bank.<\/p>\n Why this is because each channel needs its own workflow, content, information systems and other supporting tasks that confuse the customer.<\/p>\n The modern digital bank<\/u><\/strong><\/p>\n The modern digital bank needs a central omni-channel digital banking platform to orchestrate customer interactions at any point of contact, through cloud-based software, quickly and efficiently creating a central hub centered on the customer and regardless of how it approaches the organization.<\/p>\n This creates the best interaction experience (customer journey).<\/p>\n The personalization of the relationship with the customer (personalized customer engagement), through CRM customer management systems that give 360o<\/sup> customer perspective, offers the possibility of saving time and resources while making customers feel that the bank has an in-depth understanding of their unique needs, providing services and products made specifically for them (tailor made products).<\/p>\n So, the development of strong experience and investment in front office transformation is the “key” to the digital age and the future of the banking industry and certainly depends on it.<\/p>\n Customers require banks to be responsible, honest and to take care of them in person.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The post Covid-19 era has created new data where banks try in various ways through mainly reducing customer service costs and by offering new more profitable products and services. The core of the most necessary digital transformation is the change of mentality in terms of the type of financial contact and the bank-client relationship. The … <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[163,6],"tags":[254,253,169,255],"class_list":["post-456","post","type-post","status-publish","format-standard","hentry","category-corporates-businesses-industries","category-publications","tag-crm","tag-digital-bank","tag-digital-transformation","tag-tailor-made-products"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/comments?post=456"}],"version-history":[{"count":1,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/456\/revisions"}],"predecessor-version":[{"id":457,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/posts\/456\/revisions\/457"}],"wp:attachment":[{"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/media?parent=456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/categories?post=456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trusteconomics.eu\/index.php\/wp-json\/wp\/v2\/tags?post=456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}