Payments and Transaction Banking Customer Experience – Client Integration as Competitive Edge for Banks
- handhold large corporate clients through their integrations to bank channels
- build custom file format mappings for large and medium-size individual clients
- underserve small clients
- ignore ERP and Treasury vendors.
Three Philosophies for Client Integrations
- connectivity – how to transfer data in a secure manner between client and bank
- alignment of data/file formats between client systems and bank systems
- Promote bank standard to clients
- Build customisations for clients
- Encourage vendor testing
Philosophy 1: Promote bank data format standard to clients
- Publish high quality, up-to-date information on the data formats – documentation, guides, schemas, etc. The can cover the bank versions of standards ISO 20022, SEPA, US ACH, US Wires, or even the bank proprietary file/message formats.
- Provide sample files that the client can learn from
- Provide self-service sandboxes so the client can build and test according to their own timetable.
- Monitor client activity to ensure a client is making progress and proactively contact the client with offers of support if they notice that the client is encountering problems
- Define a process: Clear steps that the client can follow to achieve readiness for acceptance testing (banks often refer to this stage as UAT = User Acceptance Testing)
Philosophy 2: Build data format customisations for a client
- Define a process: Clear steps so that the client understands what is going to be done by both sides to achieve readiness for acceptance testing, including how the data formats will be mapped.
- Provide self-service tools to allow clients to test the mapping customisations that the bank creates for them;
- Over time, categorise clients and build accelerators that implement common mappings that can be reused across clients;
- Archive realistic files from each client and use in automated testing. Run regression tests periodically to check that client files are processed correctly, especially when bank systems are changed.
Philosophy 3: Encourage vendor testing
- Provide an easy signup process for vendors to do banking testing
- Publish high quality information on the file formats
- Provide sample files containing data that can be used in their testing
- Provide self-service sandboxes so the vendor can build and test
Banks can create a competitive edge by combining elements from these tree philosophies – best in class banks have all three of these in use. Whichever philosophy you choose to implement, XMLdation can provide solutions to allow your bank team to deliver a winning customer experience.
- Help clients that want to align with your bank standard by opening the XMLdation Client Testing solution to them
- Help clients that need customisations by leveraging the XMLdation’s capabilities to map different file formats and messages
- Help vendors to streamline client integrations with your bank by opening the XMLdation solution to them with standard file formats and mappings