The financial services industry is marked by commoditization of financial products. Banks are struggling to retain customers, and there are low-to-no barriers for customers to switch their financial services providers when they look to pursue cheaper products. Further, the industry has constantly seen new, non-traditional players who offer competitive new products. Given this market context, traditional financial institutions need to evolve to remain competitive.
Axxiome Digital comes with a set of ready-to-use digital capabilities called digital add-ons, which help financial institutions offer new, experience-rich products. Personal Finance Management (PFM), Analytics and AI, and Secure Video Identification are some of the examples that are available out-of-the-box in the customer self-serve channels. The products are designed to complement some of the existing offerings, enhance user experience, and add value to the customer relationship to increase retention and attract new customers.
As well, with its open API architecture, Axxiome Digital enables financial institutions to open their technology landscape to industry innovators such as fintechs, and collaborate to create innovative products for customers.
Axxiome Digital add-ons enable financial institutions to offer innovative products, grow and retain customers through differentiated products and unique experiences, and deliver continuous value to customers.