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What’s Your Digital Banking Resolution?

The Times Square ball has dropped and holiday decorations have been packed away, restoring cosmic order to our schedules as we fall back into our daily routines. Like many people, you’re returning to the office and being confounded by the annual question: “What is your new year’s resolution?”

Whether or not you sign up for a gym membership, reflection in any capacity is important. As you reflect on your personal goals, consider the direction of your financial institution’s digital banking platform. Perhaps it needs to learn a new language or bulk-up on new functionality. In the spirit of personal and professional growth, here’s five Digital Banking Resolutions to consider for 2018.

1. New year, new look – According to The Financial Brand, removing friction from the customer journey is the highest ranking retail banking prediction of 2018. The user experience is much further reaching than just a modern look and feel. For instance, can your platform expand or contract to fit various screen sizes? Do account holders have full functionality no matter the device used? If the answer is no, then it’s time to say goodbye to friction in 2018.
2. Bulk up – Building out your application with remote deposit and other transactional services is vitally important to modern account holders who expect self-service tools—equally important is how you expand your offerings. Consolidating vendors can greatly improve operations, streamline your digital banking platform, and lower costs.
3. Scale-up – If implementing new products and services is sluggish and expensive, your digital banking platform may have a weak foundation. Investing in Open API architecture enables your solution to grow with your financial institution and swiftly scale-up to meet account holder demands.
4. Learn a new language – A large section of the market may be excluded from your services simply because your digital banking platform can’t speak a second language. Consider your local market and tailor your platform accordingly.
5. Get smart – Digital banking can uncover a wealth of information about account holders, especially when the consumer and business platforms sit on the same application. A consolidated view of accounts can provide useful data for targeted marketing campaigns and insights on improving the customer journey.

Start a conversation with us today to see how VSoft can be your partner in the new year.

Click here to learn more about Arya, our digital banking platform.

 

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