Omni Channel Virtual Banking

Inspiration

In the current COVID-19 situation, most of the branch related operations have become extremely difficult and hard to cope with for our day-to-day usual requests. Most of the branches remain closed and people want to follow safety measures that in-turn increases the duration to fulfil a request if they have any.

This led to our idea of Omni-Channel "Virtual Banking".

What it does

Imagine if we were to have a Virtual Bank and it does all operations that are performed in a branch but in a much effective manner with less time, less hassle and above all from wherever we are. Some of the benefits are as follows

1. Any form of device can be used to bank virtually (i.e., Laptop, mobile, tablet, desktop etc)
2. Customer can find a nearest branch within a mile radius and will be able to see slot availability based on red(Extremely busy), Yellow (moderate busy) and Green (Available) and then choose to fill a form for the purpose of visit to join a queue.
3. Virtual queue placement with notification. Customer will join a virtual queue and will be notified if he is next, thus saving a lot of time
4. Video conference ,audio conference and web chat facilities to have real time interaction with the customer and branch colleague.
5. Skill based routing (ex: If translator is required, then a colleague with that particular skill will be assigned to the customer)
6. Automated background API calls or service calls to authorise the customer while in virtual queue, thus when the case is assigned to branch colleague they already know what is the purpose of customer visit and all KYC checks done.
7. Microservices based architecture to call APIs based on the options selected by customer thus reusable across applications.

How we built it

The prototype was built using the following tools

1. PEGA PRPC 8.4 community edition
2. Postgres DB
3. Tomcat Application server

Challenges we ran into

Lack of funding and PEGA OOTB capabilities for some of the features like integration with conference facility. We had limited time to work on the prototype.

Accomplishments that we're proud of

Building a minimal prototype to visualize our idea

What we learned

Pega 8.4 features gives leverage to take advantage of COSMOS UI which could present a good digital experience. With focus to More AI and ML based application the future is going to be virtual.

What's next for Omni Channel Virtual Banking

AI and Machine Learning capabilities can be exploited to provided seamless service to customer. With easy Integration of Video conferencing tool with Bank Colleague's calendar , the experience of customer could be highly personalised. This would also eliminate the risk being posed by laws, making banking operation to completely go virtual.

Built With

• 8.4
• microservice
• pega