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DIGITAL READINESS ASSESSMENT FOR BANKS

Understand your Bank's Digital Maturity to Guide and Validate Strategic Investment Choices

UNLOCK DIGITAL POTENTIAL AND VALUE

Axxiome's Digital Readiness Assessment aids financial institutions in strategic investment choices, streamlining time and costs within their digital transformation initiatives.

Our approach offers an objective measure of a bank's digital maturity, drawing from market insights. This clarity on strengths, weaknesses, and benchmarking against top-tier institutions provide invaluable data for strategy formulation, goal setting and pinpointing essential action areas.

Axxiome presents a spectrum of assessment options, from a self-guided digital quick check using a mobile app to a thorough review encompassing core aspects of digitalization. Additionally, we offer specialized assessments concentrating on architecture, applications, UI/UX, and customer experience.

45% Less Low-Value Projects
30% More Projects in Target
20% Higher Staff Productivity
30% Risk Reduction

Approach

Our assessment method pinpoints your current digital maturity level while highlighting potential weak points and opportunities. This clarity fosters decisive action and well-informed choices.

Both, our Digital Readiness Assessment and our comprehensive Digital Transformation Service, revolve around dimensions of digital business models, innovation, digital channels and customer experience, technology, processes, and data. Our benchmarking database encompasses approximately two hundred diverse banks, ranging from small to large, serving retail and corporate clients, and spanning regional, universal, and specialty sectors.

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    PERSONAL DIGITAL CHECK-UP

    A self-guided assessment via our mobile app or web platform, requiring just 30-40 minutes. Receive immediate results during a complimentary 30-minute feedback session with our experts.

    • With about 60 questions, we delve into the bank's digital strategy, technology foundation, online banking platforms, mobile apps, and customer interaction facets such as online service availability, user experience personalization, and AI solution adoption
    • Post-evaluation, we summarize your bank's digital maturity, emphasizing areas of improvement, opportunities, competitive positioning, and actionable recommendations
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    CROSS-DIVISIONAL DIGITAL ASSESSMENT

    Adopt a cross-divisional approach to illuminate varying perspectives and stages of digital maturity within the company, bridging both business and IT.

    • Each participant conducts a detailed evaluation across various dimensions
    • Results are consolidated by division
    • Highlight the strongest and weakest scores for transparency
    • Benchmark against top-tier institutions and internally between divisions
    • Engage in intra- and inter-departmental workshops for discussions and collective maturity level classification
    • Collaboratively determine actionable measures
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    DIGITAL ARCHITECTURE ASSESSMENT

    A focused evaluation of your digital architecture and application landscape, utilizing a Workshop-based assessment approach that can be carried out internally or across IT and business.

    • Examine key processes
    • Evaluate application, data, and technology architecture
    • Validate business/IT strategy, customers, staff, channels, user experience requirements
    • Identify gaps and develop actionable solutions
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    CUSTOMER EXPERIENCE ASSESSMENT

    Review of the bank's front-end capabilities by our experts, emphasizing UI/UX and the smartness of the customer journey. Results are collaboratively reviewed in workshops where we define actionable steps.

    Key focus areas include:

    • Website
    • Online Sales and Conversion
    • Online Services
    • Mobile Apps
    • Onboarding
    • Omnichannel Communication
    • Innovation and Sustainability Agenda

Tools and Assets

Leveraging effective tools and assets, aid in streamlining data collection, analysis, and reporting, all essential for digital readiness assessments. They enhance accuracy, simplify the process, and deliver actionable insights for strategic decisions.

Benchmarking Database

The database includes around 200 banks, ranging from small to large. It features retail and corporate segments of regional, universal, and specialty institutions.

ASSESSMENT Tool

Intuitive mobile/web tool offering 60 questions on key digital maturity dimensions. Provides a swift high-level assessment and preliminary recommendations.

CUSTOMER JOURNEY MAPPING

Helps visualize and understand the customer's digital interactions, identifying pain points, and opportunities for improving the overall digital experience.

Digital Experts

Provide guidance and expertise throughout the assessment, helping formulate tailored recommendations based on industry best practices and market trends.

Benefits

  • Informed Decisions: Know where you stand today by harnessing insights from the assessment.
  • Identified Areas of Improvement : Know what is holding you back from attaining competitive advantage and retaining relevance in the digital marketplace.
  • Precise and Actionable Recommendations: Know what areas to transform first that offer potential wins in terms of immediate ROI and set a clear roadmap.
  • Maintain Business Agility: Gain ability to respond to market shifts and emerging opportunities.
  • Strategically Position the Institution: Navigate future challenges and capitalize on opportunities within the dynamic digital landscape.
  • Optimize Processes: By minimizing manual tasks, thereby enhancing overall operational efficiency.

FREQUENTLY ASKED QUESTIONS

WHY CONDUCTING A DIGITAL ASSESSMENT?

The purpose is to evaluate the institution's preparedness for digital transformation and identify areas for improvement.

How long does it typically take?

The duration varies based on the institution's size and complexity, usually ranging from 20min with our quick check mobile solution and a few days to a few weeks with our comprehensive approach.

What types of data are analyzed?

The assessment analyzes data related to technology adoption, customer behavior, cybersecurity, and digital strategy alignment.

How does it benefit our institution?

It provides insights to improve customer experience, and operational efficiency.

How can the assessment help us?

The assessment provides clear recommendations highlighting key areas for improvement.

What happens after the assessment?

After the assessment, the recommendations and identified improvement areas can be used to develop a tailored digital transformation strategy and implementation plan. For more details see Digital Transformation Service.