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Retail Banking: Beyond Banking and The Smart Bank

Digital Strategy Transformation Roadmap 2019: Bank, Asset Management, Insurance Company Approaches

Retail banking is experiencing a major digital transformation that is shifting products and services from a mass production environment to the new banking ecosystem of individualized, client-first experiences, dynamic usability and deeper engagement. Newly enhanced “smart banks” must be able to meet or exceed customer demands and expectations, all while taking a fully-flexible, omni-channel approach. Banks possess the strong desire to digitize so as to optimize operational efficiencies, reduce costs, and drive profitability as they make sound and often large investments in technology.

Given this, Synechron is working with tier one Retail Banks in the following areas to consult them on their enterprise scale digital and technology strategies and working with them to deliver it.

  • Digital Branches and ATMs - Whether it’s reimagining current physical bank branches and transforming them into friendly, beautiful and efficient digitally-forward spaces, or evolving branches into inviting, digitally-equipped bank “cafés”, or conceiving of and actually constructing brand new digital-first servicing pods for customers to engage, learn and purchase, Synechron has the bank branch design, architecture and implementation experience.
  • Cards, Payments, and Loyalty Programs - Synechron is working with an array of Retail Banks to re-design evolutionary cards, payments, and loyalty programs with core capabilities including the use of Open API Technologies, and full omni-channel strategies.
  • Consumer Lending – Home Mortgages, Home Equity Loans, Auto Finance, Personal Loans - When discussing digital transformation, Technology architectures will need to adapt to microservices, OpenAPIs, usable UIs and Cloud
  • Transactional Services – Savings, Website, Mobile Services, Open API - Synechron is helping banks intelligently transition to a digital-first operating environment which lets today’s on-the-go customers conduct a variety of banking transactions and tap into personalized services and products uniformly across the full omni-channel landscape.