What exactly is Omni digital?

Omni digital banking is about bringing "Digital business models" to life across all possible customer journeys & touchpoints, by sprinkling that dash of intelligence in every moment of truth, by shifting the focus from products and transactions to what the customers value & when, where, how they want it.

Let's delve deeper to see how a "Truly" Omni digital customer journey helps enhance customer engagement resulting in scalable revenue expansion for Banks.

Meet Nick - A Digital Native

Nick is a 28-year-old digital native, who like most people his age prefers communication via chat. He is active on several social media platforms and is comfortable sharing his information online for better quality services. He depends on his smartphone for completing online transactions and is interested in receiving personalized deals and offers.

He recently visited the bank's website, browsed through different products, and spent most of his time in the personal loans section, and did a loan simulation for a USD 2000 loan. Before exiting the website, Nick registered with the bank to receive alerts on upcoming deals and offers on his mobile.

AI-Powered Customer Intelligence

Based on his location, time of day, device, clickstream data, ISP/Network information, loan simulation & registration data, the bank AI system collects the following information about Nick's persona:

Nick is interested in taking a personal loan

Located near an upscale tech park, works for a partnered MNC

Reached via search engine PPC ad

Spent 3.8 minutes on personal loan pages

Used loan calculator for 6-month payback

Preferred communication: WhatsApp

With the help of the data, the bank was able to convert a completely anonymous visitor into a hot prospect, and collect enough information about his persona to help personalize the financial journey.

"Our research shows that WhatsApp use has risen by 200%+ since March 2020 — the highest growth in any channel with the least amount of Digital Banking Presence"

WhatsApp Banking Conversation

The bank registers Nick on WhatsApp & sends a welcome message. The next day Nick interacts with the bank on WhatsApp Chatbot. Here's how AI helped personalize the interaction:

WhatsApp Bot: "Welcome back Nick! I understand that you were looking at our personal loans yesterday. Would you like to continue the conversation?"

Automatically recognizes the customer based on the registered number and initiates a human-like conversation based on the previous interaction for seamless continuation of the customer journey.

Nick: "Sure, tell me about the Prepayment penalty."

The customer is able to directly ask his query and easily find the information he is looking for without having to browse through multiple menu options.

WhatsApp Bot: "The Prepayment penalty for personal loans is 2%. As an employee of BankBuddy, you are eligible for instant approval of personal loans up to USD 2000 with no processing fees. Would you like to go ahead and apply?"

With the information gathered during the initial interaction about his employer, AI offers the customer a personalized offer.

Seamless Agent Handoff

The customer is connected to an agent on the same channel i.e. WhatsApp, to complete onboarding and answer all questions that the customer might have regarding the particular product. This ensures a frictionless journey from discovery to fulfillment.

Key Benefits of Omni-Digital Banking

Personalized Journeys

AI-powered insights create tailored experiences based on customer behavior and preferences

Seamless Integration

Consistent experience across all touchpoints and communication channels

Real-time Intelligence

Instant recommendations based on customer behavior and contextual data

Reduced Friction

Complete transactions within preferred channels without switching platforms

It's time for OMNI-DIGITAL BANKING