When I asked our customers about their 2016 priorities, the majority had omnichannel banking and digital transformation initiatives topping their lists. This is why I would like to share with you UBA’s story of how they moved towards guaranteeing the delivery of a seamless, omnichannel customer experience with a real-time transaction monitoring and analytics solution.
One of the largest financial institutions in Africa, UBA is responsible for the completion of more than 2 million customer transactions per day. A key part of UBA’s digital transformation strategy involved a recent investment in a scalable e-banking platform. This platform has allowed the Bank to extend a variety of products and services tailored to meet different financial needs and consumer banking habits. With electronic transactions growing in volume, and customer products and services becoming more complex, UBA realized there was more risk of undetected transaction slowdowns and banking system failures taking place. The Bank needed an effective way to:
- Proactively manage customer transaction performance across all banking channels
- Have a good view into product behavior across all banking channels
- Monitor third party hosted switches and integrated applications across all banking channels
An aggregate, end-to-end view into every customer transaction has changed the way UBA engages with their customers and the way they resolve their channel-related issues. The Bank can now monitor multi-protocol payments and service transactions originating from mobile banking, online banking, ATM and POS channels, and utilize customer interaction data to proactively identify transaction slowdowns and failures before they impact customers. Reported wins to date include:
- Improved customer experience through the delivery of a seamless, omnichannel banking experience
- A 15% improvement in mean-time-to-repair (MTTR) times
- A 2% reduction in ATM maintenance stream costs
- A shared transaction data and central monitoring hub across all banking channels
- Reduced failed customer interactions due to higher banking system availability and better capacity planning
If omnichannel banking and digital transformation initiatives are topping your 2016 priority list, please take 5 minutes to read the full case study.