14 September 2022
Over the past two years, the pandemic has abruptly brought into focus just how far behind several companies are in their digital transformation journey. What was once taken for granted is now a hurdle to overcome. This is true for several industries, but more so for the banking industry, who has seen a slow but steady change in how customers bank over the last decade.
Suddenly, customers had to perform transactions that were once only possible in-person at a banking branch. This, for obvious reasons, has boosted the urgency to provide a truly unique digital experience for banking customers that is tailored to their needs. One up-and-coming way this has been accomplished has been through Digital Experience Platforms, or DXP for short.
We have already discussed the topic in a previous article, but in short, a Digital Experience Platform (DXP) is an emerging category of enterprise software seeking to meet the needs of companies undergoing digital transformation, with the ultimate goal of providing better customer experiences. DXPs make it easier to contextualize your customers’ digital experiences. A good DXP should simplify how you make, manage, and monitor your customer experiences across any and all digital channels. A few tell-tale ways to know if a DXP is best suited for your business is if it allows you to:
Increasing personalization in more channels can increase purchases by 500%
Financial institutions of all sizes can benefit from utilizing a DXP designed specifically for the financial services industry, and some of these advantages include:
DXPs made specifically for banks are designed to manage the complete engagement-to-results lifecycle across all digital channels, ultimately driving: