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Direct Banking Strategy to Increase Flexibility & Customer Centricity


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Digital Banking is transforming banking operations. Direct banking or e-banking, a subset of Digital banking is at the helm of this transformation. Its importance as a strategic tool to acquire and retain customers, is forcing augmentation of new features every day. The choice depends on two critical factors which run to the heart of a bank’s long-term goals - customer value proposition designed by bank and the technology enablement. What all consumer banking features do financial institutions want to offer without putting security and reputation at stake? How to add value on user experience? The slides and associated white paper talk about this and more.

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Direct Banking Strategy to Increase Flexibility & Customer Centricity

  1. 1. Copyright © 2014 HCL Technologies Limited | Designing the perfect Direct Banking strategy Maintain customer-centricity while ensuring flexibility in responding to changing customer preferences
  2. 2. 2 Copyright © 2014 HCL Technologies Limited | Direct Banking – The Road Travelled Over the period of time, e-banking applications have evolved in various ways: Independent Development Product Augmentation Dedicated e-banking suites • For rolling out e-banking services incrementally using step by step approach • To better connect with end users (these product offerings used to have their own language) • Scenario of forward integration, where Core Banking vendors deployed extensions of their banking platforms • Earlier Core Banking systems could not be launched on browser; hence there was an inherent need to have internet based client platforms • For providing full range of banking services and content for retail, private and corporate-banking customers • Independent vendors have managed to replace existing internet banking application by their dedicated Direct Banking suites.
  3. 3. 3 Copyright © 2014 HCL Technologies Limited | How to add value on user experience i.e. look and feel, home page setup, bank’s brand management ? What all business functionality/processes do need to be customized / changed and to what extent ? What would be the impact of proposed Direct Banking on existing IT landscape? Does the proposed application comply with security policy as laid down by corporate? How robust is the proposed application for performance and downtime minimization? Before leveraging Direct Banking as a strategic tool.. Before banks start to use Direct Banking as a strategic tool, they need to address following challenges
  4. 4. 4 Copyright © 2014 HCL Technologies Limited | In this White paper you will find.. This white paper examines various aspects and challenges associated with Direct Banking deployment and upgrade. We also compare Direct Banking products and independent developments undertaken by banks, along with best practices to be followed. How to leverage Direct Banking as a strategic growth tool Benchmarking Methodology for Direct Banking Best Practices for Banks Worldwide Conclusion – What it means for the Banks CLICK TO DOWNLOAD WHITE PAPER