Harnessing the Influence of Customer Experience to Deepen Financial Inclusion in Digital Banking

Building Customer Experience in Digital Banking age to Deepen Financial Inclusion

There’s a need to rethink customer service experience by building on the existing gains to create a robust and sustainable quality customer experience that will bring the under-served and unbanked into the financial net.

Lack of sustainable customer service experience has been identified as a major obstacle in deepening financial inclusion for business growth and economic vibrancy.

According to Enhancing Financial Innovation and Access (EFInA), Nigeria, Africa’s most populous country, has 36.8 per cent of its adult population excluded from the financial cycle.

The country’s apex bank, Central Bank of Nigeria launched an initiative aimed at bridging the excluded gap and improving customer service delivery.

Provision of exceptional customer service is central to business growth. Helping to attract, retain and gain more customers in competitive business industries.

According to Deloitte, a multinational professional services network, people prefer engaging with online and mobile platforms and desire 24/7 access to financial institutions from their smart devices.

The advent of technology with the deployment of same, in innovative solutions has redefined financial operations and services.

Digital banking, an offshoot of the advent in technology, is the digitisation of traditional banking services and activities.

Generally, these services and activities were only available to customers physically inside of a banking hall.

However, as technology continued to evolve with the paradigm shift of customer purchasing habits, financial institutions must continuously seek innovative technological solutions to meet the demand of a 21st-century customer.

Many financial institutions have not fully prioritised digital solutions, forsaking the vast potential value and leaving many unbanked and under-served ignored.

New customer propositions and better service models, enabled by technology, are creating opportunities for much more lucrative returns.

While you seek creative strategies to rethink customer experience in your business, a number of financial institutions are also leveraging technological solutions that aid quality customer service experience. These solutions offer a digital banking customer centric approach in a market dominated by cost pressures, stringent regulatory requirements, and increasing competition.

  1. SystemSpecsowned payroll software solutions, Remita offers a modern age payroll system for financial institutions which in turn deepens customer-banks relationship and promotes financial inclusion.
  2. Arttha is a Digital Banking Software Solutions & Platform that provides seamless services across all devices and channels thereby minimizing development costs. It does this by simplifying human interactions across all points in the digital and physical worlds.
  3. Sab is a software provider, offering fully integrated software that help banks in building an exceptional multi-channel customer experience. It provides personalized solutions for brands that are adaptable on a global scale.
  4. Bring is another digital banking software provider that leverages Backbase omni-channel Banking Platform ensuring the creation of simple and convenient experiences to achieve and optimize excellent customer engagements.
  5. Access Bank, one of the largest banks in Nigeria offers Remita Payroll solutions to serve its customers as an integral part of its beyond-banking strategy.
  6. Remita Payroll & HR is an innovative online digital solution that empowers SMEs and large organisations to easily process and pay salaries and manage other related human resource needs.
  7. Temenos, with advanced cloud-native, cloud-agnostic, AI and APIs, provides end-to-end modern banking functionality capabilities that increases agility and speed-to-market for banks and financial services firms in acquisition of new customers. Creating an omni-channel experience involving web, mobile, and in-branch interactions.
  8. ITC Infotech with its experience management framework, help banks listen, analyze, engage, measure and create a customer activated enterprise across multiple channels. Redefining their digital banking experience management solutions.

Despite the penetration of these innovative technologies, there’s a need to roll out more platforms and initiatives that will bring leading experts and major stakeholders together to discuss how quality customer service can be attained in this digital age especially for business growth.

Building customer experience in digital banking is the right way to deepen financial inclusion. There’s a need to rethink customer experience by building on the existing gains.

The Digital Customer Experience Forum 2020 happening on the 10th – 11th June, 2020, at the Double Tree by Hilton, Nairobi Hurlingham, Kenya, is an event designed to discuss the importance of customer experience in digital banking era serves as a major bridge to this topical issue.

The event organised by MJD International has been tailored to create an engaging platform that seek to provide innovative concepts, ideas and framework that will offer excellent customer service delivery in this digital age.

Industry experts will share their thoughts on how to segment client base and create personalized customer experiences, customer financial literacy, and customers’ self-servicing.

At the forum, participants will take a critical look at how to rethink customer experience in the era of digital banking for economic development.

The forum connects key players in the industry and leading experts from the financial ecosystem to discuss how to refocus customer service experience in this digital era and bring the underbanked and the unbanked into the financial net.

The two-day forum provides interesting and interactive panel discussions, top-notch topics and question and answers session that will provide a framework to build on.

The event offers discussion on how to democratise and adopt digital marketing and agency banking as an effective way of building a robust bank-customer relationship.

This forum offers the ideal opportunity of networking among regulators, industry experts, senior managers, decision-makers, and practitioners and the regulators.

The event will offer stakeholders technical skills, customer experience management program in playing a leading role in a competitive environment and boost global financial inclusion

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Awadhesh is currently the CTO, Tydacom and is a renowned expert in Telecom networks, data center management, OFC layout, Antenna design Innovation, UHF/VHF communications, computer networks, managed services operations.
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