Branch Banking Gives Way to Customer-Focused Digital Services
The emergence of fintech and neo-banks has increased the level of innovation across the financial services industry. Branch banking is giving way to digital contactless banking services. The advantage of location is displaced by the ability to offer the products customers want with the service assurance they expect.
Progressive branch banking is transforming faster by partnering with neo-banks. Neo-banks fill the gaps in aging product portfolios. Neo-banks embrace fintech, often based on advanced technology. This new collaboration increases the service portfolio at a lower cost but the integration can also increase the complexity of service delivery.
Success in this new world is spelled SERVICE. AIOps enables Operations to up-level their service commitment to customers.
CHALLENGE: Seamless Integration of Neo-Bank Services Into the Product Portfolio
Banks are replacing high touch interactions at branch locations with machine assisted transactions and contactless mobile services. Customer populations are changing and so are their interests in bank services. Collaborating with neo-banks provides a fast way to deliver a menu of services and products aligned to the changing markets.
To enable growth, IT needs to examine Operations and choose technology to improve service delivery without inflating costs. IT Operations is a critical function for banks intent on competing in new markets. Their customers are on the move and expect their bank to be open and available when they need them.
Service Operations needs to support the business strategy with a service-centric delivery model:
- Reduce the time required to approve credit – eliminate system wait times
- Provide the convenience of transferring money between accounts to avoid credit delinquency and insufficient funds fees
- Provide digital wallets to help customers invest and save
- Lower the cost per account to return value to shareholders
What’s the model for ensuring the customer service experience?
- Gain visibility and discover dependencies within and between systems leveraging AI and machine learning
- Detect issues and service anomalies fast before they impact service performance and result in unnecessary operational cost
- Prevent service interruptions resulting from change
How a Regional Bank Used VIA AIOps to Enable New Services
VIA AIOps – End-to-End Service Assurance
Built on an open core foundation – scales to billions of analyzed data points
Observability across service layers supporting fault, performance and change management
Uncovers the how and why of system behavior to enable active response
Advanced anomaly detection with continuous learning delivers faster detection
Frequently Asked Questions and Answers
What is AIOps for financial services?
AIOps for financial services is the application of AI, correlation and automation to keeping digital banking services available and performing. As branch banking gives way to digital and contactless services, the competitive advantage shifts from physical location to the ability to deliver the products customers want with the service assurance they expect — which makes operational reliability a commercial issue rather than a technical one.
How does AIOps help banks integrate fintech and neo-bank services?
Partnering with neo-banks fills gaps in ageing product portfolios and expands the service portfolio at lower cost, but it also increases the complexity of service delivery — more integration points, more dependencies, more places for a failure to originate. AIOps addresses that by correlating telemetry across the combined estate, so an incident originating in a partner-delivered service can be identified as such rather than investigated across every internal system first.
What does explainable AI mean in a financial services operations context?
It means the platform shows the reasoning behind a conclusion, not just the conclusion. When VIA AIOps identifies a root cause or recommends a fix, it exposes the evidence and the relationships that led there. In a regulated environment this matters twice over — an operations engineer will not act on an unexplained recommendation, and an auditor will ask how a decision was reached.
How does VIA AIOps prevent outages in digital banking channels?
Through advanced anomaly detection with continuous learning, which surfaces degradation before it becomes an outage, and through observability across service layers spanning fault, performance and change management. The platform is built on an open core foundation that scales to billions of analyzed data points, so detection operates across the whole transaction path rather than on sampled data.
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