Banks operate in a challenging world of rapid technological change, technology-savvy customers, and increasing expectations. In this environment, banking through disparate and insufficiently coordinated channels is quickly becoming obsolete. To prosper and gain a competitive advantage, banks must begin moving to omnichannel banking while customer readiness around the world is strong.
Internet Business Solutions Group (IBSG) calls this new reality the “Era of Omnichannel Banking.” Omnichannel banking is different from the current “multichannel”
approach in which banks encourage customers to use the least expensive channel, while delivering minimal cross-channel consistency and an inconsistent user experience.
Omnichannel banking provides a consistent experience across channels to provide customers with seamless access to financial products and services—where and when they are needed.
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