Why backbase is omni channel?

  What is Omni-Channel? 🤔

• Omni means "many places,"
• Channel refers to a medium for communication or data transfer,
• Banking includes the services offered by a bank, such as depositing, saving, and withdrawing money.

An omni-channel banking framework, like Backbase, allows banks to create cross-platform applications. This means the same banking services (e.g., deposits, balance checks, or payments) can be accessed seamlessly across multiple platforms, such as websites 🖥️, mobile apps 📱, and ATMs 🏧, using the Backbase SDK (a toolkit for building applications).

A true omni-channel system ensures that you can start a task on one platform and continue it on another without re-entering your details. For example, you might begin applying for a loan on your mobile app and finish it on a desktop, with real-time data synchronization between platforms.

Why is Omni-Channel Banking Important? 🌟

1. Enhanced Customer Experience
   Customers enjoy seamless access to banking services across devices. For instance, checking your bank balance with a single tap on your smartphone is much more convenient than logging into a desktop every time.

2. Reduced Operational Costs
   Omni-channel systems ensure synchronized data across all platforms, eliminating the need for duplicate mechanisms to track and manage information.

   Example: Think of a traffic light 🚦. It serves all vehicles, whether it's a car 🚙, bike 🚲, truck 🚛, or bus 🚌, with the same signals. Imagine if separate traffic lights had to be installed for each vehicle type—it would be expensive and complex to manage. Similarly, an omni-channel system offers a unified solution for all banking platforms, saving resources and simplifying operations.

3. Attracts New Customers
   Flexibility is key! If Bank A offers services across branches 🏦, websites 🖥️, and mobile apps 📱, while Bank B only provides services at branches and websites, most customers would choose Bank A for the convenience and flexibility it offers.

Omni-channel banking makes life easier for customers and more efficient for banks, offering a win-win solution for everyone!