From next-generation
branch operations to omnichannel approach for digital banking
services.
From loan origination to equity brokerage services, there's
a clear trend of both retail and corporate customers gravitating
towards more convenient forms of using banking services. As smart
phones and tablets become more and more affordable and
indispensable from the customers' daily life, Financial
Instituitons are also providing services available through smart
phone applications and online channels.
There are many challenges for providing digital services for
customers. Rigorous regulatory requirements were needed to be
eased (backed by the EU-regulated new PSD2 directive), new
technology advancements in IT had to be utilized (e.g. widespread
VoIP and video-chat capabilities) in order to be able to provide
the services that suit the micro-decisions customers are making
everyday with a smart phone in their hand - for example loans for
small amounts, credit card application, online customer
onboarding.
Only in the past few years, with the widespread availability
of smart phones, Financial Institutions started realizing a true
omnichannel approach in their digital services portfolio -
allowing the customer to start an operation on one channel and
finish it later on another. For a succesful transition,
corporations had to internalize the digital-first approach in
product management, which also posed many challenges to the IT
landscape - sometimes with the necessity of upgrading outdated
electronic channels (Internet Bank, Mobile Bank applications).
Advocate Organization Development
has a leading role in supporting Hungarian Financial Institutions
in order to be able to provide 21st century digital banking
services. Our professional consultants use their expertise and
experience in different business and development activities that
are related to transitioning to a true omnichannel, digital-first
approach:
Business workflow and
process optimization: evaluate and review business processes,
identify bottlenecks and future-oriented solutions to existing
problems.
Support and lead product
development and supervise sales channels: design and introduce
new online solutions (from e-Banking to electronic brokerage
solutions), help managing the product portfolio.
Regulatory compliance:
consulting and development services to comply with PSD2
regulations.
IT Consulting, Business Analysis, Test
Management
We were helping
our partners in different projects, ranging from developing
interfaces to Core Banking system, implementation of customer
access management systems, integration to limit management, etc.
Our professional consultants use their expertise and
experience in different business and development activities that
are related to:
Providing end-user support
and consulting services for well-known systems and processes
provided by: Electra, Omikron Multicash and Smart Office, online
brokerage platforms, etc.
Providing IT Business
Analysis, Development and Testing services: IT consulting
services for integrated satellite systems, middleware and
distributed interfaces/applications.
Latest Digital Banking Projects
Mobile Banking Upgrade project
With the help of Advocate consultants' expertise of
Omnichannel Banking, one of Hungary's bank was able to transform
it's outdated Mobile Banking solution to be a trendsetter mobile
application aimed to cater to the more feature-savvy customers.
Our experts put a big emphasis on designing features that could
be easily used for the obliged moratorium-induced customer
interactions while making sure the traditional transactional
features wouldn't be left out from the renewal process.
Secure Online Payments
PSD2 obliged banks to mandate strong customer
authentication (SCA) for approving online payments with their
credit or debit crads (card-not-present transactions). All card
services providers had to introduce a way to do this and with the
help of Advocate consultants several Hungarian Banks were
succesfully introduced new, PSD2-compliant methods of secure
authentication with SMS or bimoetry-based authentication
procedures.
Featured
Case Study
Customer access management
system
Design and introduction of a centralized customer access
management system for e-channels. Providing IT Business Analysis,
Development and Testing services.
Featured
Case Study
Assessing the impact of PSD2
Assessing the impact of PSD2 for the business operations
and for the IT-landscape as well with providing a feasibility
study with multiple detailed scenarios.
Single sign-on solution for
e-channels
Introduction of a single sign-on solution for all retail
and corporate digital banking channels (from payment services to
investment services).
Corporate Electronic Banking
system upgrade
Providing IT Business Analysis, Development and Testing
services for upgrading Electronic Banking system for Corporate
customers, introduction of a solution enabling access for smart
phone users.
