So where should an organization start to achieve this transformation? The customer context!
Developing the customer context stands as a precursor to formulate any customer journey. In developing this customer context, sources of data such as products/services data, customers, support, click stream etc. should be intertwined together. In order to reach the right customer context it is also empirical to incorporate the accumulation of data from the inception of customer's journey with the organization.
In the case of a retail bank, onboarding processes positions as the first interface between the customer and the bank. The era of the involvement of underwriters during the accumulation of documents from customers is long gone. Banks are now digitizing the processes by scanning documents such as PDFs, images, text - both structured and unstructured. The accurate digitization of this onboarding process supports the organization to realize huge savings in the OPEX.