It is proven. Forward-leaning financial insitutitions that digitize and innovate are able to grow in an increasingly competitive market. The secret to their success? Differentiation.

In a world where customer engagement reigns supreme, how are financial institutions delivering on the promise of value? How are they generating memorable experiences that encourage a consumer to choose one brand over another? What are the specific qualities to consider when making that decision? These fundamental questions define a growing trend for all brands: to build an affinity with each and every customer, means delivering value with every interaction across the customer journey.

To deliver delightful customer experiences, consistently, often entails firms embracing digitalization. It is not enough to simply create and deliver a financial product or service via a single digital channel. Instead, it requires tailoring products and services to meet the specific needs of customers wherever they are, whenever they need them. For financial institutions, this means examining processes and systems from the core side to the digital – a next-gen digital banking system designed to support seamless customer experiences from beginning to end.

Fortunately, forward-leaning financial firms are embracing proven, cloud-native digital and core banking platforms that not only enable them to deliver tailored financial products and services, but also accelerate time to market, cost effectively and at scale.

Why financial institutions are embracing next-gen digital banking innovations

A flexible financial structure capable of satisfying the modern day customer is the critical path that many banks, fintechs, neobanks and non-financial institutions are choosing to boost growth and brand loyalty for their companies today. As a result, award-winning, next-gen digital banking platforms such as Cyberbank are empowering financial firms to differentiate themselves and deliver real value to their customers.

Five top reasons to embrace bank modernization

• Economic: Use a next-gen digital banking platform, Cyberbank, from Technisys supports large volumes of transactions by aggregating current accounts into a centralized account. Since many IT service providers typically charge per account, this centralized approach dramatically reduces service costs.
• Operational: Dynamically create tailored digital financial products (e.g., savings, debit, loyalty) without adding legacy platform overhead or IT cross-loading costs.
• Commercial: Deliver tailored digital offerings that fit the needs of the bank or consumer. For example, offer installment payments such as “Buy Now, Pay Later” or offer overdraft capabilities with a debit digital wallet product.
• Strategic: Enables banks to offer personalized and relevant products to each customer at the point of need, which helps the financial institution increase profit margins and growth in micro-segments with agility and speed.
• Emotional: Create memorable customer experiences that people talk about and manage ubiquitous shopping moments. Create a brand reputation that customers will love and recommend to their peers.

As you, and your financial firm, look to navigate growing customer demands, constant competitive pressures and increasing costs, consider the power of a proven, next-gen digital banking platform empowering financial firms to embrace a more integrated and universal platform where all banking products and services can operate from one single system in real time.

About Technisys

Technisys is the next-gen digital banking platform that redefines the customer experience. Technisys’ unique end-to-end digital backbone enables financial institutions to create and deliver financial products, dynamically, at every customer touchpoint. Giving banks and fintechs the agility to tailor offerings that become integral to a customer’s lifestyle in new and profound ways, down to the segment of one.