Infosys leverages innovative digital solutions for retail consumers from a global bank
by Analytics Insight
January 30, 2022
Infosys helped a global bank streamline governance to ensure customer centricity across all banking functions, increasing value realization.
Infosys is the world leader in next-generation digital services. The company helps its global customers through the process of digital transformation. One of its clients is a US-based bank that serves over 30 million customers through its award-winning digital banking capabilities. Its well-developed retail division includes a full range of financial products and services with advanced digital banking capabilities and a retail banking network. The bank has embarked on a multidimensional digital transformation program to improve its customer experience and simplify service delivery. Its goal was to create a state-of-the-art banking platform with a mobile-first strategy, AI and ML solutions, strong security, and omnichannel delivery. Another issue they want to tackle is reducing the manufacturing time for new products and upgrading the technology of the underlying systems.
The banking client had appointed Infosys as the lead IT delivery partner for its multi-year digital transformation program. Infosys teams were tasked with providing development and testing support for new applications, production support for new and existing applications, DevOps, and infrastructure support. Infosys had succeeded in transforming the waterfall execution model into an agile model based on Scrum in all teams. He has helped approximately 200 professionals from development and QA teams transition to more than 26 agile scrum teams spread across multiple time zones and geographies. As the nature of the program was complex, the implementation of new technologies came with several challenges in the management of employees. To address this issue, Infosys created a targeted training program to reskill employees to improve adoption.
Infosys’ solution resulted in seven improvements. It revamped the customer authentication and registration process across desktop and mobile banking platforms. This meant the company had to redesign user interface flows, integrate services and migrate nearly 90 million profiles from old mainframes to a new, secure platform. Infosys has also created a security dashboard for this purpose.
To transform core payments, Infosys enabled the bank to deploy an omnichannel architecture that integrates with both front-end and back-end systems. It also added a new channel that facilitates faster money transfer through Zelle, a banking product. With the help of Infosys, the customer can enable the integration of B2C payments with PayPal.
For a mobile-first strategy, Infosys created a native mobile app with a dedicated offshore mobile browser lab for device testing and round-the-clock support. The mobile app supports digital wallets like Apple Pay, Samsung Pay and enables cost-effective remote deposits.
To enhance the customer experience, Infosys leverages technology expertise and user interface innovation to modernize platforms with unique solutions. Some of the solutions included redesigning the online banking website with dashboards and preferences, support for ADA compliance and insourcing, online offers, rewards and cashback, the implementation of budget analysis tools for consumption and investment accounts and the activation of P2P transfers.
Infosys has identified omnichannel integration and digital modernization of banking systems as a critical area. The company created a roadmap to upgrade and integrate iPad banking solutions across 3,000 branches, built an enterprise-wide omnichannel authentication platform, and enabled direct calling since the mobile app.
The banking customer’s digital wallet is enriched by Infosys with next-generation digital platforms powered by AI and ML. The team developed AI and ML-based risk scoring models for authentication and enabled NLP-based search optimization. A voice-integrated conversational chatbot for customer service was also developed for the client.
Infosys helped the bank streamline governance to ensure customer centricity across banking functions, increasing value realization. The fundamental principles of the commitment are flexibility, transparency and traceability through which an open and transparent culture can be encouraged.
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