Keeping Up to Date with Axxiome Solutions: Episode 1
Welcome to our new blog series, where we explore the global banking landscape and the challenges banks face in keeping pace with evolving customer demands and rapid technological advancements. This first episode focuses on our view on the current state of the banking IT landscape and how it hinders banks’ ability to implement seamless, future-ready digital strategies across all customer interaction points.
The IT Struggle: Banks Caught Between Innovation and Legacy Systems
Banks worldwide are caught between rising customer expectations and aging IT landscapes. Over the past decade, accelerated by the pandemic, digital transformation efforts focused on customer-facing channels, delivering new mobile and online banking experiences. Meanwhile, core banking systems, branch applications, and back-office tools remained largely untouched, kept running but not modernized.
The Reality of Legacy Systems: High Costs & Inefficiencies
Now, as customers return to hybrid and in-person banking, branches continue to provide high-value, face-to-face experiences. However, high operating costs push banks to rethink their branch networks. The vision? A seamless, AI-driven, omnichannel experience. The reality? Disconnected systems, outdated devices, and legacy infrastructure hinder progress.
For centuries, branches looked and operated the same. Today, banks are redefining their role – testing pop-up formats, coffee-shop-style locations, and video teller services. But real transformation requires more than just new formats. It demands modern IT foundations. Technology built 15, 20, or even 40 years ago cannot support the digital-first, integrated banking of the future.
Introducing Axxiome Digital Branch & Teller
How Axxiome Digital Branch & Teller Transforms Banking Operations?
Axxiome Digital Branch & Teller offers a path forward. This solution serves as a versatile module within Axxiome Digital, empowering branch networks, back-office operations, call centers, and beyond. Its flexibility allows Axxiome Digital to adapt to a variety of use cases across all banking channels. In particular the Teller & Branch capabilities can go from providing a Single Customer View (or Customer 360), to all processes and transactions included in Teller Services (Start and End of Day, Cash and Cheque operations, reconciliation and many more).
Why Axxiome Digital Branch & Teller Matters to Banks
Axxiome Digital Branch & Teller provides banks with a Cloud-Native solution that can be integrated to their existing Legacy IT architecture (including software and peripherals) and enable them to smoothly transition to a Digital Branch experience that is integrated seamlessly with the other customer channels – such as Mobile or Online Banking. Once implemented, Axxiome Digital Branch & Teller enables several cost reduction opportunities – like removing paperwork operation or reducing IT costs – as well as it allows for the implementation of any Branch Strategy and new technologies – such as AI.
Core Values and Goals
Axxiome Digital Branch & Teller helps bank leverage their existing assets whilst completely transforming customer and colleague experiences across the board.
- Customers: Customers will be able to experience a branch network that is completely embedded on to the bank’s digital channels. They’ll get better personalised advice, quicker and better services.
- Colleagues: Branch and Back-Office colleagues will have better access to customer’s data, they’ll have a single application to cover all their needs, they’ll have a user experience that is familiar to them and they’ll be able to leverage all the flexibility of a fully digital technology (for example, leveraging mobile devices to execute their activities).
- Business: The bank will experience increased customer satisfaction with less operational costs.
Core Challenges Resolved by the Software
When looking at branch processes across banks from all around the globe, there are several challenges that can be seen very often. An excessive amount of paperwork being used in branches – from customer receipts, to internal ones –, a great deal of inefficiencies in the use of the peripheral devices used in the branches, a huge IT cost needed for keeping branches running, a great deal of manual work (which is also error prone) and very little flexibility to implement significant improvements.
Axxiome Digital Branch & Teller changes all this.
Real-Life Scenarios: Transforming Bank Operations Across the Globe
Axxiome Digital Branch & Teller has enabled banks worldwide to overcome complex challenges and achieve significant results:
- Central and Eastern Europe: A Tier 2 bank reduced transaction times by automating processes, cutting clicks per transaction from 17 to just 1 with Axxiome Digital Branch & Teller.
- Europe: A leading bank now provides a digital experience whilst continue to leveraging their legacy core banking application.
- Latin America: Facing regulatory pressures, a regional bank replaced its outdated application within eight months to achieve regulatory compliance and operational efficiency.
- United States: A bank provided Banking as a Service (BaaS) to fintechs, expanding their customer base by 10-fold in only a few weeks.
Unmatched Coverage: Key Features of Axxiome Digital Branch & Teller
Axxiome Digital Branch & Teller covers over 99.9% of the functionalities required in tellers and branches. These are some of the highlights according to our customers:
- Flexible Dashboards: Integrated with tools like email and calendars for seamless operations.
- Instant Receipt Delivery: Send receipts via email in real-time to improve customer satisfaction.
- Guided User Experience: Simplified UI with keyboard shortcuts for efficient workflows.
- Multi-Language Selection: Empower end users with the ability to switch languages seamlessly, ensuring a localized experience for diverse customer bases and multilingual teams.
- Peripheral Device Integration: Boost productivity with cheque scanning, digital signatures, and customer identification.
- CRU/CDU Integration: Optimize cash handling with seamless integration of Cash Recycling Units (CRU) and Cash Dispensing Units (CDU), reducing manual processes, minimizing errors, and boosting branch efficiency.
- Cloud-Native Architecture: Reduces IT costs and complexity while ensuring scalability.
- Comprehensive System Integration: Connect effortlessly to one or multiple core banking systems and CRMs, creating a unified data ecosystem that improves workflow efficiency and enables a 360° customer view.
- … and more.
Unlock Your Bank’s Potential
We’ve talked about the challenges facing the branch network, with consolidation, closures and new strategies that can’t be implemented due to complex legacy technologies. The digital transformation programs executed by most banks in the last few years have mainly focused on customer-facing channels, while the bank employees have been left with a disconnected and aged internal systems, limiting the ability to deliver seamless, modern experiences.
Axxiome Digital can change all this and provide banks with a technology that will enable any branch strategy, removing all constrains created by the existing technology whilst allowing the bank to explore new initiatives across branches, back office or call centers, or even exploring new lines of businesses, such as banking-as-a-service, fintech enablement or others.
The future of banking depends on flexibility, innovation, and a commitment to delivering exceptional value to customers and employees alike. Axxiome provides the tools to make that future a reality.
Engage with Us: Start Your Bank’s Transformation Today
Outdated systems don’t have to limit your bank’s potential. With Axxiome Digital, you can modernize your operations, enhance customer satisfaction, and reduce costs - all without disrupting your existing infrastructure.
Take the Next Step:
- Learn More About Our Solutions: Gain a comprehensive understanding of how our solutions can bring measurable value to your institution:
- Book a Free Demo and Consultation: Explore our solutions in action and learn how they can address the unique challenges faced by your institution.
Did you find this article interesting? Can you relate to any of the topics described in it? Feel free to share your thoughts, experiences, or future plans with us. Let’s talk about real Digital Transformation!
