Service integration in banking: Why do you switch when you can get everything from a single source?
Customers expect simple, digital solutions from their bank. But what has long been taken for granted in everyday life, such as booking a hotel, often proves to be tedious in the world of finance and insurance: fragmented services, confusing app landscapes and long service paths. The result is frustration and a growing willingness among customers to switch banks. Banks are falling behind on their promise of convenience. The following article shows how banks can remain relevant in their customers' everyday lives with platform solutions.
Customers want more than just banking – they want digital support for their everyday lives.
Bank customers are no longer prepared to put up with complicated procedures for simple services. Changing electricity provider, changing address or submitting an insurance receipt should be as easy as booking a hotel – digital, fast, centralized. But the reality is often different: Financial and insurance services are fragmented, customers have to fight their way through app landscapes, service hotlines and portals. The result is frustration, media disruptions and ultimately a greater willingness to switch among customers.
According to the latest CX Score study by msg, 60% of customers want a central platform that they can use to manage different life situations, such as a move, digitally and in a coordinated manner. More than half of all respondents (52%) would even manage their insurance policies directly via the bank, including advice and optimization.
Banks that do not meet these expectations run the risk of becoming irrelevant in the everyday lives of their customers.
From bank to platform: how institutions can create real added value with integrated services
The solution is a consistent service integration that combines the bank’s traditional offering with digital, everyday value-added services. Implementation requires a new understanding of the platform economy, strong partner ecosystems and the intelligent use of technologies.
Our consulting and implementation expertise:
Platform design & IT architecture
We develop modular system landscapes that seamlessly integrate financial, insurance and third-party services – with a focus on data security, customer centricity and scalability.
Digital service journeys
Whether relocation, change of household or life events – we design process-oriented customer journeys with measurable benefits for end customers and process relief for institutions.
AI-supported customer advice
With intelligent analysis modules, we support the optimization of existing insurance contracts, provide impulses for closing deals and create cross-selling potential based on real customer needs.
Insurance management as a white label solution
We offer central portal solutions for managing insurance policies, including contract import, needs analysis and closing functions – fully embedded in the bank’s digital offering.
Become a service hub for your customers in just a few steps
How can your banking platform become an everyday helper for your customers? We will show you specific implementation scenarios - from ideation and technology setup to integration into your existing portal. Simply contact us for a non-binding CX potential analysis.
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