Digital banking multichannel solutions enable banks to deliver banking services through various digital channels, via customer-owned self-service devices. The solutions are also commonly referred to as “online banking” or “mobile banking.” Multichannel solutions enable banks to digitalize the account servicing, customer support and transaction origination capabilities of financial products. They are commonly provided as the customer experience component of a digital banking platform. Digital banking multichannel solutions address the growing demand for convenient and accessible banking services outside of the traditional branch delivery model. They solve the business problem of fragmented customer experiences by providing a unified solution that integrates various digital channels, like online banking, via websites, mobile banking apps, text banking, digital wallets and social media platforms. This ensures that customers can perform banking transactions, access account information and receive support consistently across digital channels.
A digital banking platform (DBP) enables a bank to begin the transformational process of becoming a truly digital bank that is ecosystem-centric. A DBP also enables banks to achieve business optimization. However, that is not the end state. For banks seeking only business optimization as the goal of their digital banking strategy, a digital banking multichannel solution will meet those needs.