Business Challenge

To expand their digital capabilities and achieve greater integration of its digital services, the bank needed a user-friendly mobile application. This would open up new market growth opportunities and deliver on their customer-centric promise, offering a diverse portfolio of digital banking solutions at the highest level.

One of the challenges was devising a user-friendly approach that would drive adoption and shift the existing paradigm of international transfers requiring offline branch visits.

Solution

A user-friendly mobile interface within the banking app with a smooth adoption of this new service.

• Mobile-first approach: A user-friendly interface allowed customers to transfer money internationally on-the-go, minimizing the need for brick-and-mortar visits.
• Seamless user experience: step-by-step instructions, videos, and meticulously-planned pop-up hints provided a customized experience catering to various technological proficiency levels.
• Data security: A robust personal data security system ensured client data protection, regulation compliance, and established the bank as a trusted transfer partner.
• Human touch for adoption: Mobile onboarding strategies were supported by in-person assistance and real-time staff demonstrations, blending technology with human interaction for effective client familiarization.

Key Features

• Seamless Core Banking Integration: A robust and secure connection with the bank’s core system creates a seamless foundation for the international money transfer service.
• Omnichannel Digital Experience: A unified and consistent user experience across multiple digital channels, including mobile apps, web interfaces, and ATMs, ensured by implementing distinct yet integrated solutions for each platform.
• Secure Collaboration with Money Transfer Systems: Agreements with various Money Transfer Systems (MTS) enabled efficient and secure operations through digital channels while maintaining industry-standard security protocols.
• Rigorous Quality Assurance and Testing: Comprehensive testing and quality assurance measures at every stage ensured the reliability, effectiveness, and security of the integrated system before deployment.

Tools & Technologies

• Native app development
• API gateways
• Enterprise Service
• CI/CD tools
• NoSQL databases

Results

Eight months after implementing the new digital solution, the bank witnessed a remarkable surge in user adoption and utilization of the international money transfer service, demonstrating the solution’s effectiveness and also highlighting the bank’s commitment to meeting the evolving needs of its diverse customer base.

1. The number of international money transfers increased 4 times due to the simplified procedure.
2. Operational costs associated with paperwork like checks and statements were significantly reduced.
3. The bank profits were maximized by reducing customer service staff expenses and cutting transaction costs.