Aakash over time observed there are significant lags in many banks regarding transaction processing time and that itself was a weakness.
In the current digital landscape, customer satisfaction is the key. Even banks that were once believed to be quite conservative and traditional have not remained unaffected due to the advanced technologies. Aakash Aluwala, the leader of banking and technology knows this concept well, so he has come up with functional strategies which contain ways of enhancing the use of technology in financial activities. Such strategies improve the user experience and, customer satisfaction in the banking services.
Revolutionising Banking with a Customer-Centric Approach
Aakash over time observed there are significant lags in many banks regarding transaction processing time and that itself was a weakness. Today, with customer attention span rapidly reducing, the client wants service delivery to be smooth and fast; if not, they end up being frustrated with such services offered to them.
In this approach, he applies monitoring tools to identify bottlenecks in the transaction flow. In the process, these tasks, indicators, and targets would be scrutinized down to a detail that would allow him to note the opportunities for change. This would result in some great decreases in the processing times. Now imagine a situation when a customer tries to make a wire transfer. Historically, this approach entails some processes that would also add to hours of waiting time. Aakash’s strategy shall pin down such delays and rationalize the process so that the customer may realize the efficient transfer.
Therefore, his skills in business analysis are not limited to transaction processing. He understood that with the existing setup, he was only making the customers more confused as most banking user interfaces (UIs) were complex and not very user-friendly. For instance, it is sometimes possible to create an ineffective user interface for a mobile banking application that hides most of the necessary options in the drop-down lists and submenus; thus, people who need to learn their account balance or pay the utility bill in the blink of an eye will have to waste their precious time on searching for what they need.
These are some of the areas of pain that Aakash recognizes and as a solution, redesigns the User Interface to make it as useful as possible. This could include for instance: good flow and organization, clear and recognizable icons and buttons, and functionalities that have default buttons on the home screen. Due to Aakash’s identified strategies that focused on the simplification of the UI and the centrality of the client’s requirements, we can conclude that the goals set lead to a more effective and satisfactory use of banking services.
Fortunately, unlike many people, he already realizes that innovation is not a one-off process. Intending to perpetuate the level of customer satisfaction, he has introduced the feedback loop that relies on actual data. This system is capable of tracking users’ activity and collecting customer feedback in the form of a questionnaire or poll. This information is then processed todetermine how the user experience can be made better. For example, the feedback loop may suggest that one of the ‘sub-features’ of the mobile app is not popular among the clients or is unclear. This way, it is possible for Aakash’s team to enhance the feature’s capabilities or even exclude it and make the general process smoother.
His functional strategies offer several different benefits for both banks and their customers:
• Enhanced Customer Satisfaction:Customer loyalty would be enhanced with this solution since they were highly satisfied due to shorter transaction time complex user interface and personalized services.
• Improved Operational Efficiency:By selecting Aakash’s solution, the costs of banking can be shortened. The solution largely reduces the occurrence of transaction types and includes a simple interface, which would lighten the burden on customer service departments. Not only would it save the bank money, it would spur increased efficiency as a result of having to go through the extra step.
• Data-Driven Decision Making:The information derived from the feedback loop could be used by the banks to predict future trends and plan product strategies. Therefore, the use of this approach ensures that the different banks are adapting to the changing needs of their clients.
• Stronger Customer Relationships:With the above being executed by the bank, it could be very certain that they have fostered good customer relations. This would occur through the appearance of personalized services, and care for the customer needs that enhance trust between the banks and the customers.
Aakash Aluwala’s functional strategies are long overdue and seem to have bright prospects in the growth and development of banking. Through such approaches, the banking institutions will be in a position to shift from constraining techniques and come up with activities that customers appreciate. This would culminate in a future where banking is effective, convenient, and, in essence, more fulfilling to all the stakeholders. Thus, with the help of technology, Aakash provides a glimpse into the future by presenting a new approach to banking. This is where the power lies in the hands of banks as they try to sustain and grow in the face of competition while actively working on the formation of a more profound and valuable bond with the clients.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Akaash Aluwala")
)
)
)
)
)
)
)
)
)
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}