Discover how Advocate consultants tackled the challenges of omnichannel banking (Internet Bank, Mobile Bank, Open API).
Omnichannel banking lets clients perform and execute the same banking operations through various channels, e.g. a website, a mobile application, even letting them start an operation on one channel and finish it on an other by performing real-time data synchronisation. Providing a true omnichannel solution and complying with the PSD2-mandated Open API and SCA requirements meant a challenge for Hungarian Bank so Advocate consultants were asked to help.
Challenges of Omnichannel Banking
In order to provide true omnichannel approach for all customer segments (from retail individual to large corporates) a new Authentication and Authorisation Management System (AAMS) was designed by senior Advocate IT Business Analysts. The bank was using a legacy online banking system which was responsible for providing the Internet Bank front end and a data management module which was used for managing customer data and hardware tokens by a dedicated e-Channels back office team.
For enabling the bank to increase the number of the customers and introduce new, PSD2-compliant signatory devices in accordance with the bank’s e-Channel strategy, the implemented solution was designed to be able to take care of the following use cases:
Streamlining business processes for omnichannel access contracts
With the help of the new centralised customer access management system, our client was able to streamline the formerly document-based customer on-boarding processes for e-Channel access.
By providing a rule-based workflow, the manual task of entering data by the e-Channels back office team was eliminated by letting the branch officers / call centre operators and corporate bankers initiate the on-boarding or contract modification process and by requiring only an approval for certain changes from the back office personnel.
By integrating the AAMS with the Internet Bank, an online contracting wizard was designed and developed in order to provide a self-service online contracting method for certain customers to claim and activate the new PSD2-compliant signatory device. The self-service wizard is served by the AAMS with the possibility of finishing the claim / activation process in the branch as well.
With the help of the new AAMS, approximately 3000 work-hours were spared in the branches in the first three months thanks to the self-service online contracting and the e-Channel Back Office team’s workload was halved because of the provided new rule-based workflow.
How it was achieved - from requirements analysis to roll-out
The complex task of the introduction of a centralised authentication and authorisation management system was done by the help of our consultants who were responsible for the whole requirements analysis, system specification, testing and roll-out (including branch trainings) tasks.
Advocate consultants performed the task of analysing the current branch and back office-related processes, optimise the future workflow. After several interviews to the main stakeholders, understanding the requirements, the concept of the new Authentication and Authorisation Management System was conceived, allowing the bank to streamline and renew its processes regarding e-Channel customer on-boarding.
Working in an Agile project framework, a detailed software requirements specification was written in an iterative manner and was handed out to the outsourced development company who were responsible for the implementation. The specification contained the following:
With a carefully planned project plan, a multi-phased introduction was planned by providing usable software versions from the first time, the project team was able to deliver solutions a few months after the project kick-off.