Deloitte Launches Experience by BankingSuite to Help Banks Quickly Deliver Truly Digitized Front-End Experiences

According to Deloitte’s 2023 Banking and Capital Markets Outlook, as macroeconomic uncertainties continue to intensify, banks are contending with a number of deep, fundamental shifts. With rapidly evolving customer expectations and increasing adoption of digital banking, consumers are looking for banks that offer frictionless interactions and omnichannel experiences that help them do what they need, when they want, wherever they want – easily and reliably.

Where traditional banks have failed to offer this to their customers, digital challengers have stolen market share, and so now, more than ever, organizations are looking to transform the experience they deliver. But it’s not easy to achieve.

We regularly see banks facing a no-win choice: “renting” customer experience solutions from providers that limit customization or scaling large teams to build from the ground up. Having implemented vendor solutions for hundreds of clients, we’ve seen first-hand the challenges they faced when modernizing their customer experience, often losing the ability to innovate at the pace they need.

We think it’s time to re-write the model, eliminating the trade-offs and giving banks the best of both worlds. Today we’re launching Experience by BankingSuite to do just that.

Underpinned by Flutter, Google’s open-source UI toolkit, Experience by BankingSuite is the latest tool in our Converge portfolio. It builds on years of Deloitte studio research on design and experience and saves banks thousands of hours of development effort, allowing them to deploy highly personalized customer experiences across all digital touchpoints quickly.

We’ve taken care of the new standards for experience that customers have come to expect, with all the technical foundations needed for today’s modern digital apps ready to go and a full inventory of pre-built journeys for institutions to customize. Additionally, banks are able to build on top – refining, extending, and making it their own. It’s a unique model that allows banks to achieve the best of ‘buy’ and ‘build’ with their development efforts focused on the differentiated experiences and features that are authentic to their brand and valuable to their customers. Make self-service easy, give nudges to improve financial well-being and reward your customers’ loyalty with meaningful personalization.

“Banks recognize the user experience has never been a more important differentiator, and we see many of them sitting on ideas that could power real growth for them,” said Tim O’Connor, BankingSuite offering leader and principal, Deloitte Consulting LLP. “Experience by BankingSuite puts the power back into the hands of these organizations and helps them make the leap on their terms. No one knows their customers and their markets as intimately as our clients and our entire model is geared to help free up time for them to focus on customization.”

The platform is available for organizations to co-own, license, purchase to license, or own it outright to offer flexibility for organizations to build experiences authentic to their bank’s needs, strategies, and goals.

“We equip clients with the tools to nurture customer happiness, improve customer financial well-being, and build strong user loyalty, with total flexibility over how they assemble those experiences,” said Ryan Geyer, chief product officer for BankingSuite, Deloitte Consulting LLP. “They can operate, scale and innovate at the pace that suits them while we help to upskill their internal teams, so they have the option to take over the platform on their timeline.”

Whether you’re looking to transform your customer experience, modernize your servicing capability or even migrate your organization to a next generation core, find out more about how the broader BankingSuite platform can support you on your journey and save you thousands of hours.

Converge by Deloitte platforms are used by leading consumer, retail, banking, insurance, wealth management, life sciences and healthcare companies in more than 30 countries. Backed by a five year $750 million investment in research and software development, talent and alliances Converge by Deloitte is helping to reinvent and reimagine industries leveraging the breadth and depth of Deloitte and its ecosystem.