BLOG

Digital Banking Services: Key lessons to Grow, Scale, and Drive Profits using Digital Analytics

Jul 13, 2020

As the scope of digital banking services expands with the ongoing developments, providers are facing newer challenges that are significantly impacting customer relationships. This has made it crucial for digital banking services providers to adopt measures and analyze factors impacting digital performance. But the question that remains unanswered is – how can next-gen banking firms make the most of the new digital revolution?

According to our data analytics experts, the strategic use of data can not only drive measurable improvement in customer relationships, but also impact risk management, product redesign, business forecasting, and competitor tracking. And to stay profitable and grow in the new digital economy, companies offering digital banking services must adopt a customer-centric business model, diversify the online delivery of digital banking services, and analyze digital footprints.

As financial service providers realize the importance of digitizing their services, there is also a growing need to prioritize investments in digital analytics. Request a FREE proposal to learn how we can help.

However, embracing a digital analytics strategy requires banks to modernize their end-to-end processes and adopt a customer-centric approach to digital banking. In line with the challenges and market requirements, we bring to you four important steps that can help banking service providers ensure that their move to digital banking services will result in greater customer satisfaction and long-term profitability-

Case In Point: How Quantzig Helped Integrate Web Data into the Digital Transformation Initiatives of a Leading Banking Services Provider

A major digital banking services provider based out of North America was undergoing an end-to-end digital transformation for a potential M&A transaction. One of the underlying requirements was to analyze a suspicion of low profitability by examining data anomalies to see whether there were any fraudulent transactions on their mobile and web transaction platforms. This required a detailed analysis of various data sources, including the website and social media. Quantzig’s digital analytics solutions helped them address their challenges resulting in an exponential increase in digital transaction volume from 37% in 2019 to 89% in 2020.

As a result, the client achieved its two-year customer acquisition target within the first four months of operation. Quantzig also helped them transition completely to digital platforms by leveraging data and digital analytics as a core asset to drive business insights, offer personalized services, and stay compliant using best-in-class risk analytics platforms.


Contact our digital analytics experts for personalized recommendations and solution insights.


Digital Banking Services and Analytics: How banks can capitalize on data to deliver better services

Digital Banking Performance Analysis

Conducting an in-depth performance analysis can help companies providing digital banking services to analyze the performance of digital channels, online and mobile, based on the volume, to gauge the value and percent change.

Mobile Banking Customer Analysis

Evaluate your customers’ transactions and interactions within your mobile channel and identify transaction trends and user behavior using advanced analytics solutions.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Emerging Applications of Artificial Intelligence in Medicine

Emerging Applications of Artificial Intelligence in Medicine

The main aim of artificial intelligence in medicine is to mimic human cognitive actions which is directly or indirectly bringing pioneer changes in the field of healthcare. Artificial intelligence in healthcare simplifies the processes of healthcare organizations as...

read more
HR Technology Trends Redefining the Modern-Day Workforce

HR Technology Trends Redefining the Modern-Day Workforce

In 2020, we witnessed rapid changes in workplace structures and business processes amid the pandemic outbreak. Advanced HR analytics solutions proved their potential amid the uncertainties by playing a crucial role in helping businesses understand and engage with a...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.