Development of a Digital Omnichannel Sales and Process Automation Platform for Retail Financial Services

Financial services

Retail

Digital Transformation Challenges in Retail Banking Operations

The client faces high costs and inefficiencies in product delivery due to reliance on legacy systems and manual processes. Information is fragmented across multiple systems, leading to unreliable client advice, delays in onboarding, and limited capacity to scale for sales peaks or digital channels. There is a pressing need to digitize and automate sales and onboarding processes to improve customer experience and operational efficiency.

About the Client

A mid-sized retail bank seeking to enhance its online client onboarding, product sales, and customer service through a unified digital platform.

Key Business and Technical Goals for the Digital Automation Initiative

Reduce average time to resolve customer inquiries and processing requests by at least 70%.
Digitize and automate over 30 key client onboarding and product sales processes to minimize manual intervention.
Achieve a 67% reduction in errors within online account opening request forms.
Enhance the platform’s ability to handle sales peaks and rapid product rollout scenarios.
Streamline product portfolio management and client-specific service customization.

Core Functional System Capabilities for Omnichannel Sales and Process Automation

Shared control center for deployment and delivery of sales and onboarding processes.
Process orchestration layer managing and automating critical workflows.
Integration with legacy systems for data consistency and reliable information flow.
Automation of sales processes, client onboarding, and new product deployment.
Real-time monitoring, process analytics, and reporting tools for management oversight.
Capacity to model and manage a dynamic product portfolio tailored to individual clients.

Preferred Technologies and Architectural Approaches for Implementation

Workflow engine platform supporting process automation and orchestration (e.g., BPMN-based solution).

Java-based backend services (e.g., Java 8).

Event-driven architecture utilizing messaging systems such as Apache Kafka.

Integration frameworks like Apache Camel.

Web application frameworks such as Angular (latest versions preferred).

Search and data indexing tools like Elasticsearch.

Required System Integrations for Seamless Data and Process Flow

Legacy banking core systems for account management, client data, and transactions.
Internal analytics and reporting dashboards.
External systems for identity verification and compliance (if applicable).

Key Non-Functional Requirements for Platform Performance and Reliability

High scalability to support increased transaction volumes during sales peaks.
Minimum 99.9% uptime for critical process orchestrations.
Data security compliant with industry standards.
Rapid deployment cycles, with approximately bi-monthly releases.
Agile development methodology with iterative planning and review.

Projected Business Benefits and Measurable Outcomes of the Digital Platform

Implementation of the proposed digital omnichannel automation system is expected to reduce processing times by 70%, automate over 30 client-facing processes, and decrease errors in online form submissions by 67%. These improvements will significantly enhance customer experience, operational efficiency, and the ability to quickly adapt to market demands, supporting faster product launches and streamlined client onboarding.