Enterprise mobility can create great scope for improvement in personalized customer service, and wealth generation for the private banking sector.
Use of mobile devices to perform banking transactions from the comforts of their homes, is no more a novelty. So now what next? How can banks go one up and generate a wider and a niche client base?
The next logical step to mobile banking transaction is to make personalized banking services available on mobile phones. One of the most lucrative prospects for private banking business is to provide financial advisory and other personalized banking services to high net worth clients.
An All Inclusive net Banking app can be the Solution. Learn how professionals can help with net banking app for private banking sector.
In order to address the needs of high net worth customers, private banks need an all inclusive net banking solution – A mobile application that caters to the needs of both the clients and the wealth managers. While there are existing enterprise management solutions that the banking sector can use, it always the best to invest in customized mobile app development that is tailored to suite your particular requirements.
It is possible to integrate all the required attributes in a single application (in your enterprise mobility management solution). These attributes include but are not limited to:
Compatibility for all Devices and Platforms:
A banking app should be accessible on all types of mobile devices, tablets and across varied operating systems and platforms. They should also have the capability to work for all the future versions of OS, and allow clients to carry out banking operations from anywhere anytime and while on the go.
An enterprise mobility application that offers personalized banking should include consolidated reporting and reporting of non proprietary investments. – All the information about customer investments and assets held with the bank and even those that are not held with the bank. The app should also be able to provide consolidated research reports published by banks and by other third party entities.
Portfolio management is one of the essential requirements. The portfolio updates should be regularly made available, and user should also be allowed easy access to transactional and positional data. Personalized updates for HNW customers from bank and their wealth managers can help build better customer relations. Timely updates regarding portfolio reviews, transaction alerts etc. should also be made available.
Interactive Space for Meetings:
Your app should be a medium that is not just meant to feed client with information, but also allows an interactive platform where the private bank wealth manager/financial advisor can interact and help client via online meetings and video chats, investor forums etc.
Secure Banking Transaction Capabilities:
Mobility applications for high net worth clients should include high security and confidentiality. Access should be allowed via finger print recognition and other such methods. With adequate security measures in place the customer should be allowed to carry out comprehensive banking transaction via mobile device.
Integrated Retail Banking Services:
Users today want easy modes of payment and an application that allows them pay while on the go in an easy and efficient manner can be a winning attribute for your bank. In addition to bill pay, card management, third party payments and requests for check books are also some features that can help you win customers.
Rating Feedback and Grievance Handling:
The user should also be allowed to voice grievances and rate and provide feedback of services availed. Taking user feedback can help banks ascertain additional changes and improvements in their services and hence garner a wider customer base.
As mentioned, planning, developing and implementing a mobility solution can help private banks gain notch up over their competitors and attract a niche high net worth customer base. This in turn helps banks garner more visibility, generate good will and reputation via word-of-mouth publicity and generate wealth.