Temenos (SIX: TEMN), the software specialist for banking and finance, today announces the launch of Digital Engagement, a set of modules within Temenos’ front-to back digital offering intelligent real-time customer marketing and engagement.
Digital Engagement equips banks with the technology to provide a richer, more personalized, real-time experience to their customers. Digital Engagement brings together multiple datasets, (locational, transactional and contextual), which banks can then analyze and act upon. It generates value-added insights about their customers so that they can offer the right product or service at the right time and through the right channel.
In 2015, 895m mobile banking interactions occurred in the UK; a figure that, according to the British Banking Association, is predicted to rise to 2.3bn by 2020. Each of these interactions is an opportunity for a bank to engage with their customers, offering real-time, relevant products, rewards or offers. Digital Engagement allows banks to incorporate these opportunities into automated campaigns. Over time the system will learn and adjust the campaigns as it analyzes results, meaning that with each interaction, the customer receives a more tailored and relevant communication than the last.
At the center is ‘SingleBrain’, powering Digital Engagement by removing silos and streamlining communications. SingleBrain uses a cycle of four recurring processes to:
1. Detect. Capture real-time events both internally and externally.
2. Decide. Apply profile-adapted algorithms.
3. Deliver. Decide if and when to deliver relevant communications, and through which channel.
4. Discover. Record the effectiveness and outcome of the decision path taken - continually learning, adjusting and improving campaign programs.
Dharmesh Mistry, Chief Digital Officer at Temenos, comments: "Temenos’ investment in digital is reaching new heights. Digital Engagement powered by ground-breaking SingleBrain is going to transform banks’ ability to personalize every touchpoint and communication with their customers - and, more importantly, learn from every action, to improve that personalization exponentially. But is the SingleBrain coupled together with a pre-integrated product catalogue that revolutionizes banks’ front office capabilities and enables them to give great customer experiences.
Evert Vandenbussche, Digital Banking advocate and Chief Operations Officer at KBC Ireland comments: "At KBC Ireland we take the customer experience very seriously. Outside of our industry, consumers have become accustomed to access to all kind of services via digital channels, and they expect financial services to be delivered with the same speed, cost, performance and convenience as any other digital service. With this new launch, Temenos has not only demonstrated their commitment to modern technology but also their ability to design the user experience of the future with their digital roadmap."