When banks are your friends: behind the scenes for a real-time omnichannel banking experience.

I’ve watched this video dozens of times, and every time I laugh again.  It only runs 2:54 – you’ll laugh too.

We laugh, quite simply, because it’s funny – but in addition to its humor, each time I see this video I dig deeper into the opportunity it represents.

This video provokes critical questions and ideas about the future of banking.

I recently published a research brief on “Omnichannel Banking” (to read more click here.) When I first saw this video last April (at NICE’s Interactions Global Customer Conference), I felt that it validated my previous work in this area and took it one step further − application.

This video dramatically shows one possible answer to the question: What does an Omnichannel banking experience really feel like?

  • Personal
  • Convenient
  • Easy
  • Seamless

However, much more interesting is the question the video begs the viewer to ask: Is this possible?

The answer is: Yes. But how can we achieve it? Let’s start by looking more closely at what we see about “Steve” and his experience with “Fair Bank.”

What I see: on the surface in omnichannel banking.

Simply put, Steve needed money, and he needed it right away.

He began by using his bank’s mobile application to check his balance. When Steve realized he needed more credit, the mobile app provided him with two options to connect with a bank representative: proceed to his nearest branch or connect to the call center. This concept may seem overly simple, but setting intentional boundaries for delivering services through technology platforms is key.

Next, the bank’s call center system leveraged all the information available in real time. Steve was expecting to jump through hoops just to be able to speak with a human being, but instead the system knew to connect him directly to an agent. This agent, Linda, was prepared and equipped with all the information necessary to service Steve’s request.

Linda was able to send Steve the details of the available offer directly to his mobile device. When Steve accepted the terms, the proper protocols were in place to allow verification and fulfillment all in real-time.

In a matter of minutes Fair Bank was able to solve its customer’s problem painlessly and immediately. This is what Omnichannel banking should feel like—a truly Wow- moment in customer experience.

What we don’t see: behind the scenes in omnichannel banking.

The things we don’t see going on are the most important elements of how this Wow-moment is achieved.

Fair Bank has figured out how to embed integrated data sources and advanced analytic capabilities into its innovative technology platforms.

It goes even deeper than that. What’s behind the curtain?

As people are critical to delivering on any of these strategic endeavors, we must conclude that Fair Bank has put as much effort into its leadership and talent development. And that leads me to some critical questions the video raises for me:

  • How has Fair Bank used proprietary segmentation to identify Steve?
  • How is Fair Bank using advanced analytic modeling to offer credit line increases through their mobile channel?
  • How has Fair Bank integrated data sources from multiple product businesses to offer integrated product solutions?
  • How is Fair Bank using analytical technology to create innovative capabilities for immediate delivery?

Just think about what goes on behind the curtain.

Here on my blog, I’ll continue to explore these questions – and other aspects of the strategy necessary to create a true Omnichannel banking experience.

So, you’ll have to stop back to see what I have to say about:

  • Segmentation
  • Analytical modeling
  • Data integration
  • Analytical technology
  • Leadership and talent
  • And more…

As I do, I’d love to hear what other questions or answers you have about the future of banking…when banks are your friends.