Infosys Strategic Vision



Data and technology: A secure and integrated data architecture is critical for banks. Data integration across touch points and channels helps provide customers with an immersive experience irrespective of the channel. Robust data architecture is crucial for campaign management, marketing and predictive analytics. Multi-disciplinary experts at banks must collaborate to define the data structure and elements to capture customers’ channel preferences and product portfolios.

Banks must focus on collecting, managing and integrating disparate data sources to gain a 360° view of the customer. A consolidated customer view helps banks provide smart offers by combining products. The capabilities can be enhanced to provide a holistic product relationship view of the customer as well as multichannel transactions related to social media interactions. The expanded 360° view of the customer offers superior customer segmentation capability

Bank’s technology architecture must support the digital application infrastructure vis-à-vis cross-connection of data from various channels for a consistent user experience. It must be scalable to ensure the expansion of data generation and device interactions. It must have a service oriented architecture and service-based components. The CRM solution must offer visibility into relevant customer data across multiple channels of the bank. In addition, the solution must monitor transaction data, location data and unstructured data (from social media, online chat and call center) of customers.

Analytics: Banks must understand the intentions of customers and gain insights using advanced analytics. Banks can reinforce the analytics environment by adopting, for example, cloud technologies along with Hadoop and Revolution R while focusing on ’Big Data’. Real time analytics can be achieved using predictive models and sophisticated analytics platforms such as Tableau for data visualization. Banks can use advanced analytics solutions for bespoke offerings that harness structured as well as unstructured data. The analytics application must focus on traditional areas such as customer segmentation, offer optimization and performance evaluation as well as key aspects of digital, voice and text data analysis, sentiment analysis and pattern recognition.


Strategy: Banks must have a multi-year road map and an integrated omnichannel banking strategy. They must adopt an agile operating model and a phased approach to omnichannel implementation. In the initial phase, banks must focus on consistency between the physical and virtual customer experience. Such an approach ensures accelerated implementation and minimal IT deployment or infrastructure disruption, and requires lower investment. A Chief Omnichannel Officer must lead the initiative with support from the CXO for cross-functional collaboration. As part of the migration toward omnichannel banking, banks must realign customer service (e.g., change branch timings and staffing). The omnichannel platform must be activated for customers as well as employees for a unified workplace.

Banks must avoid overlapping investments and investments in siloes, across channels. Revenue maximization for one channel at the cost of other channels must be discouraged. All channels are not equally important for banking products and services. Banks must use business intelligence to position relevant products and services in the right channels. Banks must address service issues promptly regardless of the channel. The policies and procedures must be consistent and clearly outlined across channels.

Measurement: Banks need to measure the success of omnichannel banking from a customer’s point of view. Metrics must provide visibility into customer touch points and interactions such as account opening, account servicing, and product sales and service. Multichannel metrics must provide intelligence and measurement for individual touch points as well. This will help enhance operational performance at the channel level. Metrics must be able to also measure the impact on long-term aspects such as the customer lifetime value and overall customer relationship. Banks must rate omnichannel banking metrics against industry benchmarks – for individual channels as well as cross-channel customer experience. Moreover, banks must monitor customer interactions on channels such as ATMs, branches, online, and mobile as well as social channels such as Twitter and Facebook.


Omnichannel banking delivers tangible bottom-line and topline benefits. Investment in omnichannel banking is an opportunity cost in the short term, but generates significant revenue in the long run. Omnichannel banking is an imperative for banks because it offers compelling business benefits.



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