Omnichannel for Financials

Building great digital experience and overcoming “silo trap” is a “to-be-or-not-to-be” question for traditional financial institutions.


The first wave of digitalization has helped financial institutions to drastically reduce costs of customer service and distribution of their products.

However, the current wave of digitalization constitutes an existential threat to traditional banks and insurance companies. Great bigtechs (Google, Apple, Amazon, Uber, AirBNB ) and fintechs (PayPal, Iwoca, Lending Club, Atom) take customer experience to unseen levels. For many traditional organizations, this trend means degradation to low margin commodity services and loss of customer base.

Moreover, most financial companies are trapped in silos. For the last 20 years they have run multi-channel strategies, for branches, partners, call-center, internet, mobile etc. However, these projects were run in isolation from each other. As a result, banks have separate business units that compete with each other, which leads to broken customer journeys and poor customer experience.

Building great digital experience and overcoming “silo trap” is a “to-be-or-not-to-be” question. For us this is an “Idea Worth Coding.”

How to build successful omnichannel strategy?

Start with Customer Experience (CX)

Customer journeys do not start in a company branch or even on a company site anymore. They start at google or in social media. Customer journeys cannot be dictated by bank managers anymore. They need to be discovered and rediscovered over and over again. That discovery should lead to a design that responds to the needs of today’s digital customers.

Share the Same CX Across all Channels - the easiest path to Omnichannel Solution

Building great CX is not an easy task. It involves designing an optimal customer journey, great UX, user research, optimizations, changes of internal procedures, lots of integration and lots of money. The result is a great-looking, high-performance application – usually only in one channel. But with a little extra effort, you can make it available to all actors in your business - for your customers, branch staff, call center operators and partners. This will give your sales force that much-needed “customer context” and will reduce your digital spending.

Allow Collaboration

When your application is shared between your customers and employees, collaboration between them is a natural consequence. Do not be afraid to empower your employees with communication tools that will help them become more customer oriented and more productive. Your customers will appreciate this new level of personalised service as they proceed along their customer journey.

Stay Agile, Stay Alive

Omnichannel solution is not a single project. It is rather a direction, or set of initiatives, toward which your organization should be heading. This strategy aim must be achieved step-by-step: in quick and productive sprints.

Think of this as a marathon composed of individual sprints :)

Stick to Open Architecture

In omnichannel solutions you may need to integrate everything to everything. “Spaghetti architecture” is a norm in this business. Even if you have ESB implemented and you focus your integration efforts around it, you still need good API strategy. Every new application you introduce should deliver open API that allows you to extract the value from it even in contexts that you may not yet be able to consider.

Contact us

What’s new?