Digital banking. The art of the possible in 3 use cases.

September 8, 2022

How can financial services companies drive real value and service clients and members
though digital engagement? A report by Altitude Consulting and Axway details a
number of use cases to help you visualize the art of the possible in digital banking and
imagine new ways to grow your organization’s capabilities, gain a competitive edge,
and deliver superior customer experiences. 

Top digital banking use cases

No. 1: Consumer spending insights

Financial documents and data from external credit and bank accounts can bridge the gap between banking and buying, uncovering opportunities for banks and credit unions to proactively engage customers. Customer life stages, psychographics, brand loyalties and other triggers help to create a personalized experience. 

No. 2: Personalizing products and experiences

Allows banks, credit unions, and other financial services providers to combine data from external sources, including other banks, brokerages, credit issuers and investment managers, and combine it with first party data such as buying history, credit score, income, age and location, to build a deep understanding of each client's unique needs. 

No. 3: Bill payment management

Improved billing and payment capabilities offer customers more payment options an increase customer engagement. Open banking APIs let billers send bills directly through the bank or credit unions's channels and use detailed consumer behavior data to deepen loyalty and offer the right product at the right time. Schedule an open banking strategy session to learn more. 

*Download this digital banking checklist as a pdf

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