What to Consider When Designing Banking Flows for Customer Experience

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Improving the customer experience (CX) is the number one priority for major banks today. Of the 50 largest global banks, three out of four are now committed to transforming the customer experience in some form, according to McKinsey . In an increasingly competitive market, financial institutions are massively adopting emerging technologies to stay relevant and meet new customer demands. Issues around the loan lifecycle, risk management, compliance, and account management are typically faced with bottlenecks in banking uk business email database workflows themselves. Intelligent business process management software (iBPMS) offers a solution to improve the customer experience for banks today. This blog post explores iBPMS use cases in finance, bank office automation, and common mistakes when implementing and designing banking workflows, concluding with a summary of the need for digital transformation.




What does iBPMS look like in finance?
The most prevalent trend in banking today is going digital. In an age of convenience and speed, customers don’t want to waste their time with a bank that doesn’t provide them with a seamless customer experience. To achieve this, banks are turning to iBPMS. BPM is a broader discipline that involves the continuous improvement of business processes across an organization. In short, it’s a mindset. When applied through technology, the software component holds the power to automate business processes that were once manual, labor-intensive, and paper-based. iBPMS digitizes workflows across multiple departments of the bank, orchestrating harmony between people, work, and systems on a centralized software platform. How does iBPMS do this? In banking, these platforms seek to digitize the front, middle, and back offices of financial institutions to create a seamless customer experience.