Benefits for banking of working with omnichannel platforms

by Infocorp News
Marketing Automation Digital Banking Clients Omnichannel Platform
Infocorp 2 min. read

The increasingly demanding requests from consumers together with the technological trends in the last few years are two features that delineate a new scheme in the commercialization of products including financials. Hence, working with bank omnichannel platforms is more and more a requirement than a fashion or trend.

Nowadays, a large number of transactions are processed on the screen: computers, smartphones, tablets or television sets account for 90% of them equivalent to 4.4 hours per day. Furthermore, many times consumers use the devices combining them with intelligent phones as the backbone of most of our operations and the point of departure for multiple screen activities. On the other hand, 82% of clients use mobile devices to make their decisions about a product, and this is because smartphones allow clients to easily compare companies.


Consumer’s demanding behavior is revealed by the fact 65% of them declared that their experience using a website or application has been “very important” in their decision to recommend a brand.
Source: Qualtrics

InfoCorp plataformas omnicanales para la Banca

5The Omnichannel Experience

Based on our consideration of this phenomena, one of the main objectives from the banks is to achieve consistent, integrated, and convenient omnichannel experiences for the clients with the most fluent interactions possible between channels since there is a clear relationship between the aforementioned and the valuation performed by the offerors:


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85% percent of clients having positive experiences believe their banks are doing a good job when offering consistent experiences in all the channels. In contrast with the case when the experience is negative, 34% believes their banks offer consistent multichannel experiences.

Source: The Financial Brand



Omnichannel banking services require a lot more than expanding the channel offer. In order to map the client journey reflecting the specific needs of each one, the classic segmentation based on demographic and financial factors such as gender, age, and sales potential is not enough. Instead, it is necessary to provide a description of client segmentation based on a multidimensional basis, considering the objectives, frustrations, motivations, and behaviors from the clients, such as specific banking habits, and preferences for certain products as well as the use of the channel. The answer to these requirements arises from the omnichannel platforms facilitating and streamlining the process.

Financial marketing challenges

The implementation of an omnichannel strategy also obliges banks to invest in the appropriate technical infrastructure and in superior data analysis capacities since key aspects of the strategy include the possibility of changing the channel, and real-time interaction. This requires high-level integration and system performance to carry out the monitoring activities of each client.



Only 27% of European banks surveyed have a unified client registry tracking the interactions with the bank through all channels.

Source: Banking Hub



Those data are consumables to be decodified by analytical engines to personalize messaging or track the time dedicated to certain searches. In turn, these will be perceived as signals of interest in a product or service especially to quickly make the appropriate offer and increase sales effectiveness. There are also external data sources such as social networks or websites for the purchase of properties enabling the retrieval of trends. The significance of the information and consumer data for financial marketing specialists is more important than ever.

Unfortunately, even if the need to capitalize on advanced analytics for knowledge-based marketing is perhaps the most important trend, it occupies a very low place in the current priorities.


Benefits for banking of working with omnichannel platforms

Only 13% of the 157 financial institutions surveyed revealed having the prevailing objective to expand or improve data analysis capacity.

Source: The Financial Brand



In conclusion, based on this approach focusing on the best consumer experience, and data analysis potential, personalized communication must be strategic for the banks since its benefits include higher response and conversion rates, brand loyalty, and extended scope of brands. In order to achieve this, omnichannel platforms aligning marketing, sales, and operations in one single place increasingly prevail.

InfoCorp plataformas omnicanales para la Banca

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