To branch or not to branch? That seems to be the question… and it is not an isolated question, it is a fundamental question that banks are considering all over the world. Some banks invest in them, others look to reduce their branch numbers, many are already in a second-stage of their branch-network-reduction program, and many branchless banks have already built successful business models; in most cases these are new challenger banks that were born digital, and the number for them keeps growing.
The truth is that branches are in a profound transformation and in any case, they will not look the same as they did some years ago (even as little as 5 years back).
In most cases one of the biggest hurdles that banks face when it comes to re-thinking their branches is the legacy technology. Many branches run on several different applications, rather than one; and they have all grown inorganically over the years covering holes as if they were preventing the ship from sinking. It is in this situation that many banks face the challenge of digitization. How can banks transform branches when they need employees to do so many things manually? When there are peripheral devices that work standalone because they don’t integrate into systems? When it takes three different systems to serve one customer? Or when the systems are so entangled together that moving one piece could make the whole thing fall?
Axxiome Digital provides banks a holistic solution that covers all processes of a branch (as well as all customer facing channels and Open banking). Processes that go from onboarding a new customer, to deposits, withdrawals, multi-currency transactions as well as locking / unlocking cards or accounts, etc. All processes are delivered in a state-of-the-art architecture enabling omni-channel experiences across all channels and parties of the eco-system, including all necessary peripheral devices and with the most robust authorization and security features.
Thanks to its natively digital architecture, Axxiome Digital can become the technology that allows any branch strategy, from traditional branches to fully digital branches, as well as enabling branches in non-traditional places such as coffee stores, shopping malls, etc. Its open API architecture enables the execution of any process through any device, and its fantastic integration capabilities make it easy for Axxiome Digital to integrate to one or many legacy core banking solutions while administering all business processes and rules centrally and providing the best possible customer and user experience. Even digital banks can benefit from Axxiome Digital by integrating it to their Digital banking platform and provide great customer service through a call centre, chat or other forms of communication.
So, whatever the question – from employee processes to patchwork legacy systems – find out how Axxiome Digital Teller fits into your branch redesign strategy, allowing digitization within the branch and therefore taking customer, and user experience to the next level.