White paper: The ROI of Omni-channel Digital Banking
The growing importance of digital channels has made them a central investment area for banks. However, most of the banks calculate their ROI in digital channels the wrong way. Just like ten years ago, they continue seeing the implementation of an omni-channel digital banking platform as a cost item.
In fact, digital banking offers tremendous potential for cost savings, customer retention, and upsell or cross-sell opportunities.
This report uses simple quantitative models to help you calculate the value banks can derive from omni-channel digital banking solutions. More specifically, you will learn how to:
- Estimate what a customer is worth to you using the back-of-the-envelope method;
- Calculate the cost of a customer acquisition and onboarding and how to decrease it;
- Grow the share-of-wallet per customer and avoid attrition or hidden defection;
- Lower the cost of routine service interactions and transactions through digitization;
- Cut down the costs on codebase maintenance by internal IT departments.
So how much does digital banking actually cost banks and how can they stem the flow of inflated costs and lost opportunities? Download this Backbase report to find out.
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