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Engagement Banking

Rudrabhatla Lalitha, Malladi Surya Prakasham, Rabindra Mohanty, and Avinash Agrawal

Banking has witnessed lot many changes during the last two decades and beyond the visualization of many bankers. The convergence of technology in banking is continuously proving to be a great enabler and a simultaneous disruptor. The digitalization of banking processes and services has induced changes in the fundamental ways in which banking is conducted. Digital reach has helped in the expansion of banking to hitherto underbanked population segments.

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Banking has witnessed lot many changes during the last two decades and beyond the visualization of many bankers. The convergence of technology in banking is continuously proving to be a great enabler and a simultaneous disruptor. The digitalization of banking processes and services has induced changes in the fundamental ways in which banking is conducted. Digital reach has helped in the expansion of banking to hitherto underbanked population segments.

While customer-centricity is the central concept, the ways and means to translate customer-centricity into real customer appreciation are looming large in the minds of many bankers.

In the above backdrop of digital convergence of banking and customer-centricity, the concept of Engagement Banking started emerging on the horizon. Engagement Banking is the customer centricity manifested at the level of customer-centric digital experience.

The current course is intended to unravel the concept of engagement banking, the need to break free from the legacy approaches and reinvent the various Business operations models to match the evolving needs of today’s customers and enhance their experiences.

What you'll learn

  • Technological convergence in Banking and emergence of digital banking.
  • Understanding Customer Centricity and Omnichannel enablement in Banking
  • Understanding the digital behaviour of customers and their evolving needs
  • Understanding causative factors for shift in traditional banks approach from brick to click
  • Various technological aspects involving banking platforms, AI&ML, Analytics, NLP etc bridging the gap between the bank processes and customer experiences leading to better engagement.
  • Engagement Banking – A game-changer- weighing the pros and cons in optimizing experiences across all channels

What's inside

Learning objectives

  • Technological convergence in banking and emergence of digital banking.
  • Understanding customer centricity and omnichannel enablement in banking
  • Understanding the digital behaviour of customers and their evolving needs
  • Understanding causative factors for shift in traditional banks approach from brick to click
  • Various technological aspects involving banking platforms, ai&ml, analytics, nlp etc bridging the gap between the bank processes and customer experiences leading to better engagement.
  • Engagement banking – a game-changer- weighing the pros and cons in optimizing experiences across all channels

Syllabus

WEEK -1: Orchestrating the Customer Journey- speed and convenience
WEEK – 2: Strategizing Engagement Banking as a growth model
Week -3: The levers for Customer Engagement

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Examines banking industry convergence with technology, a critical topic for learners who aspire to be at the forefront of the finance industry
Outlines the evolution of customer-centricity and the digital transformation of banking industry
Analyzes the impact of technology on banking processes, services, and customer experiences
Introduces Engagement Banking, an emerging concept that helps bridge the gap between traditional banking practices and digital customer engagement
Highlights the challenges in meeting the evolving expectations of customers
Provides insights into the technological aspects, such as AI, ML, Analytics, and NLP, that can enable banks to personalize customer experiences

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Activities

Coming soon We're preparing activities for Engagement Banking. These are activities you can do either before, during, or after a course.

Career center

Learners who complete Engagement Banking will develop knowledge and skills that may be useful to these careers:
Technology Transformation Manager
Technology Transformation Managers lead the implementation of new technologies within banks. With the rise of digital banking, these Managers must understand the emerging technologies in the banking industry. By providing this knowledge, the course will help them fulfill their role and may lead to breakthroughs in digital transformation.
Product Manager
Product Managers are responsible for developing and managing products for banks, including digital banking solutions. The course will provide an in-depth understanding of the market for digital banking and what customers expect from these products.
IT Manager
IT Managers are responsible for the design, operation, and maintenance of computer systems. With the advent of digital banking, the infrastructure required for banks has changed. IT Managers who work for banks must keep pace. The course Engagement Banking will familiarize them with new and emerging technologies in banking so that they may fulfill this responsibility.
Digital Marketing Manager
Digital Marketing Managers plan and implement marketing campaigns that utilize digital technologies. The course Engagement Banking will be highly useful for these Managers because it covers the emerging technologies in banking, the digital behavior of customers, and how banks can leverage this information when designing marketing campaigns.
Banking Consultant
The course Engagement Banking covers topics like customer-centricity and digital behavior of customers. This is beneficial to Banking Consultants, who advise banks on customer-facing issues. It provides insight into strategies that make for good customer experiences and the emerging technologies that enable them.
Financial Analyst
Financial Analysts use the data that banks and other financial institutions provide to prepare investment recommendations for clients. Taking the Engagement Banking course provides insights that these analysts may not receive in their typical coursework.
Sales Manager
Sales Managers typically work in retail branch banks. With the increasing adoption of digital banking, the role of these Sales Managers is changing. Anyone seeking to enter or advance in this role should take this course to understand the convergence of technology in banking, the rise of digital banking, and customer-centricity.
Treasury Manager
The Treasury Manager oversees the financial health of the bank. The course provides a deeper understanding of how digital banking affects the strategies and practices that Treasury Managers should adopt.
Operations Manager
The role of Operations Managers is to plan and organize bank operations. These operations are significantly influenced by new and emerging technologies. The course in Engagement Banking will help to familiarize Operations Managers with these technologies and how they are applied within the industry.
Risk Manager
Risk Managers are responsible for identifying and assessing risks to banks. As digital banking introduces new risks, Risk Managers must stay abreast of the technologies and strategies that are used to mitigate these risks. The course Engagement Banking covers topics like technological convergence, digital behavior of customers, pros and cons of engagement banking, and more.
Strategy Manager
Strategy Managers help to develop and implement business strategies. As digital banking matures, the strategies that banks pursue must change. This course provides Strategy Managers with the information necessary to conduct effective strategic planning in this changing environment.
Data Analyst
Data Analysts may work for banks. As banks transition to digital banking, Data Analysts can play an important role. This course provides a rounded understanding of digital banking so that Data Analysts can make effective use of the new data that is available.
Business Analyst
Business Analysts help companies to improve their business processes. Some of thefe processes occur within a bank's digital platforms, which are themselves an evolving target of innovation. By taking this course, Business Analysts can gain deeper insight into the digital banking revolution so that they may inform their clients about best practices and future trends.
Management Consultant
Management Consultants provide advice to organizations to help improve their businesses. Some of the individuals and organizations that they advise work in the banking industry. This course may provide insights that are helpful to these consultants when advising banks on issues related to digital banking.
Change Manager
Change Managers help organizations to plan and implement major changes within their operations. In the banking industry, this course may be useful in helping Change Managers understand the strategic shifts that banks must take as they transition to digital banking.

Reading list

We've selected seven books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Engagement Banking.
Provides a glimpse into the future of banking. It explores the ways in which artificial intelligence will change the way we bank and the implications for banks and customers.
Provides a framework for understanding why large organizations often fail to innovate. It valuable read for anyone interested in the challenges of innovation in the banking industry.
Provides a practical guide to lean startup methodology. It valuable read for anyone interested in starting a new business or innovating within an existing organization.
Provides a unique perspective on starting a new business. It valuable read for anyone interested in entrepreneurship and innovation.
Provides a framework for understanding the challenges of marketing and selling technology products to mainstream customers. It valuable read for anyone interested in marketing and innovation.
Provides a practical guide to getting customers for a new business. It valuable read for anyone interested in starting a new business or growing an existing one.

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