The market is shifting with incredible speed.\u00a0Digital banks and new providers are bringing new products and offers to market, opening new market segments filled with consumers who are looking for enhanced, mobile-first experiences. Right now, you may be trying to provide customers with a richer experience \u2013 and customer\u2019s expectations are rapidly changing and increasing.<\/p>\n
Your customers are now used to information on-demand and expect an experience that is curated for them, allowing instant access to their historical financial records and preferences. They don\u2019t want their phone call to be placed on hold while a human looks up their information. Increasingly, your customers want to self-direct their interactions with their financial institutions. And these expectations are no longer an opportunity for businesses to differentiate themselves with; they are the baseline.<\/p>\n
In an environment where \u2018good\u2019 is the bare minimum, how can you offer your customers that next level of customer experience?<\/strong><\/p>\n One of the most powerful ways to create enhanced experiences that delight your customers is to transform your data and feed real-time analytics.<\/p>\n You will likely have massive volumes of data in legacy systems, siloed applications, Data Lakes and others. This information is valuable \u2013 but it\u2019s information with inconsistent protocols and complexity. So how do you turn legacy data stores, inconsistent language protocols and increased complexity into the data that you need, when you need it, accessed across the entire organisation?<\/p>\n The opportunity lies in\u00a0Data in Motion, the evolution of an\u00a0Operational Data Store which gives you a Data Fabric\u00a0that<\/em>\u00a0is flexible and always-on. This takes the business beyond\u00a0Digital Transformation\u00a0and into Data Transformation, which enables you to provide customers with the next level of insight \u2013\u00a0insights derived from their data and the data you already have – real-time.<\/p>\n And now that you know what you want to create, the key to success is choosing the right technology provider to partner with.<\/p>\n So what are some of the key attributes of a successful technology partner?<\/u><\/p>\n In your financial services business, regulations change constantly, and the pandemic has highlighted the need for more transparency in data. One of the things to look for in a technology partner is a provider who has experience in managing highly sensitive, heavily regulated data systems which serve audit governance as part of a platform integration and not an add-on.<\/p>\n 2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Has exceptional customer service<\/strong><\/p>\n It\u2019s your data. A provider who understands that is key to helping you unlock the true potential of it. Look for a technology company who builds their solutions around their customers and makes you the highest priority.<\/p>\n 3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Simplifies architecture, not complicates it<\/strong><\/p>\n Reliable data delivery comes down to the millisecond. That\u2019s how long you have to respond to what\u2019s driving your customers back to you. Look for a provider who understands that a smaller tech stack is better for your business and beware of the provider who builds you a tower-to-nowhere and leaves you with expensive, unused parts of your system.<\/p>\n 4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Wants to partner with you, not \u2018sell\u2019 to you<\/strong><\/p>\n Some open-source and cloud native solutions opt for a service subscription model \u2013 which seems appealing at first, but you might find yourself left on your own in the long term. When a provider wants to partner with you, they want to work by your side to build and deliver the most value to you and your organisation as a whole. They measure their success by your success.<\/p>\n Now is the time when providers who are always seeking to innovate are really getting noticed. Look for demonstrated proof of innovation as well as a culture of innovation. It\u2019s not just about keeping up with customer demands \u2013 it\u2019s about anticipating those demands before they happen \u2013 and that is what delivers a differentiating customer experience. Companies who have innovation at their core will always drive you forward on your transformation journey.<\/p>\n No matter what stage of the transformation journey you\u2019re in, choosing the right technology provider is pivotal to your customer experience. With the right technology partner, you can achieve greater efficiencies in resources\u00a0and<\/em>\u00a0enhanced customer experience \u2013 the two don\u2019t have to be mutually exclusive. Chosen wisely, the right technology provider can be the difference between\u00a0winning in the turns<\/a>\u00a0versus falling behind.<\/p>\n To learn more about InterSystems and the ways we\u2019re helping organisations turn their data into great experiences, take a look at \u00a0InterSystems IRIS Data System<\/a> or drop Michael a line<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The market is shifting with incredible speed.\u00a0Digital banks and new providers are bringing new products and offers to market, opening new market segments filled with consumers who are looking for enhanced, mobile-first experiences. Right now, you may be trying to provide customers with a richer experience \u2013 and customer\u2019s expectations are rapidly changing and increasing. 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