Historically, banks take about 12 to 18 months to incubate and launch a new product. In the present
scenario, your bank simply does not have the luxury of that amount of time. Today’s crisis of trust
has resulted in fickle customers who – if their needs are not responded to within quick time, can
quickly shift allegiance.
The integrated banking platform can enable the conceptualization, development and quick rollout of
products and services, which are segment-specific, at a low cost and risk, to your bank. It can enable:
Design of innovative products and services that are built to fulfill customer needs:
While your bank needs to have a suite of products and services to cater to different segments, a challenge
that must be surmounted is the resources needed to support the initiative, in the long term.
Development of products and services to serve differentiated requirements within customer
segments:
The ability to introduce small but crucial variations by way of bundling or preferential offers increases
your bank’s ability to cater to a larger cross-section of customers, with a smaller core set of offerings.
This helps your bank circumvent the problem described in the preceding point.
Delivery of offerings across all channels, consistently:
The availability of a customer information repository to be used by your bank’s staff, or a portal for
partners, can support your bank’s objective of achieving delivery excellence.
Distribution of offerings in a manner that optimizes your bank’s channel strategy.
You can also leverage the integrated banking platform to: