Delivering an Omnichannel Customer Experience: Why a Single Platform Is the Way Forward

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7 June 2017
Bob Meara

Most banks aren’t yet delivering omnichannel customer engagement.

Abstract

Celent has released a new report titled Delivering an Omnichannel Customer Experience: Why a Single Platform Is the Way Forward. The report was written by Bob Meara, a Senior Analyst with Celent’s Banking practice.

Most banks aren’t yet delivering omnichannel customer engagement. The path forward need not be long and complex, but institutions seem slow to catch on.

Omnichannel delivery is a key component of what it means to be a digital bank; 50% of large banks are developing or refining omnichannel strategies, while smaller bank segments lag behind. Above all, institutions should begin with the end in mind, while prioritizing initiatives based on short-term business objectives. Omnichannel customer experience platforms (CXPs) offer an excellent way to do this.

“Omnichannel retail delivery is a vexing challenge, particularly for larger financial institutions. Many are chasing urgent priorities, such as digital customer acquisition without (in Celent's opinion) giving adequate consideration for a longer-term architecture,” commented Meara.

“Omnichannel CXPs represent an excellent architecture choice to accommodate both short-term and long-term objectives, without requiring the rip and replace of legacy channel platforms. More banks should be considering this option,” he added.

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