Engagement Banking from edX

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

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

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what should give you pause

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

Reviews summary

Strategic overview of digital banking evolution

According to students, this course provides a relevant and timely overview of the digital transformation sweeping the banking sector, particularly focusing on the emerging concept of Engagement Banking. Learners highlight its ability to clearly explain the convergence of technology in banking and the importance of customer-centricity. While the course is praised for its strategic perspective and coverage of AI and ML applications in finance, some learners might find it more conceptual than practical, wishing for deeper dives into implementation or more hands-on activities. It serves as a strong foundational course for professionals seeking to understand the evolving landscape of digital financial services.

Ideal for those new to digital banking, less for advanced learners.

"For someone new to the digital transformation in banking, this course is an excellent starting point."

"If you already have a strong background in these areas, some sections might feel like a review."

"It's a good introductory course, but intermediate or advanced learners might seek more depth."

Offers a high-level strategic view of digital banking.

"Provides a great strategic overview for banking leaders navigating digital change."

"Helped me connect technological advancements to broader business objectives in banking."

"I gained a valuable perspective on the future direction of financial services."

Explains complex digital banking concepts effectively.

"The explanation of Engagement Banking was clear and easy to grasp."

"I appreciate how well complex ideas like AI and ML in banking were broken down."

"The course provides a solid understanding of customer-centricity and omnichannel strategies."

Addresses critical, current trends in digital banking.

"I found the topics highly relevant to the current challenges and opportunities in the banking industry."

"The course content is very timely, covering the digital transformation essential for today's banking professionals."

"It thoroughly explains how technology is reshaping traditional banking practices."

Focuses on concepts, less on hands-on implementation.

"I was hoping for more practical examples and actionable strategies rather than just frameworks."

"While the theory is strong, I felt a lack of deeper dives into how to actually implement these technologies."

"This course is great for understanding the 'what' and 'why', but less on the 'how'."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Engagement Banking with these activities:

Review: The Engagement Banking Revolution by Chris Skinner

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Gain insights from industry experts by reading and analyzing a book specifically focused on engagement banking.

View Digital Human: The Fourth Revolution of... on Amazon

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Acquire the book through a library or online purchase.
Read the book thoroughly, taking notes and highlighting key concepts.
Write a brief summary or review of the book, reflecting on its relevance to your learning objectives.

Volunteer at a local financial literacy program

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Share your knowledge while gaining practical experience in customer engagement and financial literacy.

Browse courses on Financial Literacy

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Identify a financial literacy program or organization in your community.
Contact the organization and inquire about volunteer opportunities.
Attend training sessions provided by the organization.
Assist in conducting financial literacy workshops or programs.

Complete online quizzes on key concepts of digital banking

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Test your understanding and reinforce key concepts of digital banking through interactive online quizzes.

Browse courses on Online Quizzes

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Identify online platforms or resources that offer quizzes on digital banking topics.
Take multiple quizzes to assess your knowledge and identify areas for improvement.
Review your answers and research the correct responses to strengthen your understanding.

Two other activities

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Engage in a peer-to-peer learning group focused on banking innovation

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Engage in collaborative discussions and knowledge sharing with other professionals to explore innovative approaches in the banking sector.

Browse courses on Customer Engagement

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Identify and connect with professionals working on banking innovation.
Establish regular meetings for discussions, presentations, and knowledge exchange.
Contribute to the group's collective understanding and explore new ideas.

Develop a proposal for a new digital banking service

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Showcase your understanding of the banking industry and customer needs by creating a proposal for a novel digital banking service.

Browse courses on Digital Banking

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Identify a problem or opportunity in the current banking landscape.
Research and analyze the market, competition, and customer needs.
Develop a concept and value proposition for a new digital banking service that addresses the identified need.
Create a detailed business plan outlining the service's features, target audience, and revenue model.

Career center

Learners who complete Engagement Banking will develop knowledge and skills that may be useful to these careers:

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.

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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.

See salaries and explore the career path for Technology Transformation Manager

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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