At Go-Live Faster, our Retail Banking experts alleviate the complexity associated with Retail banking implementation by assessing your Go-Live readiness through our AI based algorithm. Go-Live Faster’s Readiness platform equips the Bank’s team to identify implementation risks and mitigate them upfront.
Retail banking, also known as consumer banking, is the typical mass-market banking categorized by high-volume low-value transactions with large client base. Moreover, Banks are adding to their product offerings to provide a greater range of services for their retail clients. In addition to basic retail banking accounts and customer service from local branch financial representatives, banks are also adding teams of financial advisers with broadened product offerings, with investment services such as wealth management, brokerage accounts, private banking and retirement planning. Considering this high volume any system implementation in retail banking is highly critical and imagining the impact any glitch would create, it is utmost important to have all critical defects tracked and system tested thoroughly before Go-live.
Retail & consumer banking, already a high-volume transaction environment, are adding branch based financial planning & investment advice through an expanded base of advisors and personal bankers, which is making supporting system implementations exponentially more complex. The exponential complexity also means exponentially more points of failure during implementation and enhancement projects and exponentially more opportunities for unfound and corrected defects to create a negative customer experience. It is the utmost importance, given how our modern complex and integrated environments, to ensure all defects are identified, prioritized based on impact to customer experience, and the system and data are thoroughly and efficiently tested.