Coforge boosts digital channels for a Multinational Bank leading to a surge in customer engagement

Challenges.

The bank's outdated legacy applications, which had served for 25 years, no longer met the demands of modern, technology-driven customers. These antiquated systems offered limited functionality and failed to align with the expectations of contemporary users. Recognizing the potential risks associated with technological obsolescence, the bank initiated a Strategic Platform Modernization initiative, aiming to fully replace the legacy platform. This ambitious undertaking sought to enhance the overall user experience while mitigating the risks posed by outdated technology. 

Solution.

Our team became deeply involved in augmenting customer journeys across MobileX, DSP, and other digital channels. Multiple squads were mobilized to develop enhanced functionalities spanning Branch Management Back Office & Counter Terminal operations, Drop & Collect services, Mails & Banking functionalities, and more. Moreover, Coforge started integrating the bank's app with payment SDKs to ensure seamless transactions. 

With over 40 technologists and domain experts, Coforge engaged in agile scrum teams responsible for various modules. This collaborative effort adopted a two-week sprint framework to modernize, maintain, and migrate components. 

One of our key endeavors included the introduction of a novel user journey within the personal mobile app that empowered users to define their investment and savings percentages under the Pots and Goals framework. 

Furthermore, we enhanced the mobile experience by integrating a Transaction Enrichment Library into the MobileX platform. This integration empowered customers to view spending patterns categorized by specific areas. 

Our approach followed a "Build Once, Deploy at Scale" model, which drove the transformation of these digital channels. Our continuous value delivery strategy revolved around prioritized User Stories, developed in close collaboration with the Core Banking, Channels, Investigation, and Data Platform teams. Coforge has been actively supporting the client's journey towards banking 2.0 modernization.

The Impact.

• Enhanced user experience: Improved digital channels led to a significantly better user experience, likely increasing customer satisfaction.
  
• Increased app engagement: The improved experience resulted in a surge in customer engagement with the bank's app.
  
• Higher retention & loyalty: Increased engagement likely led to heightened customer retention and loyalty due to innovative features.
  
• Deeper customer understanding: Improved digital channels likely provided deeper insights into customer needs for future development.