The Power of Identity In Retail Banking

The Power of Identity In Retail Banking

With ForgeRock, retail banks can play a deeper role in the everyday digital lives of their customers. More

Published By - WisdomPlexus

Retail Banking – Going Beyond the Transaction To Get Closer To Customers

In the same way that iTunes revolutionized the music industry and Amazon transformed the book trade, digital initiatives are disrupting retail banking and are likely to alter the face of the industry forever.

It’s clear that retail banking is changing fast. Mobile devices and ubiquitous online access are some of the key technologies driving this change. Branch visits are declining, yet the availability of financial instruments and opportunities for customers to interact with their bank has never been more convenient. With these changes, banks need to adjust and amplify their service delivery model – and identity is at the center.

ForgeRock ties customers to unique digital identities so banks can understand who their customers are, wherever they are, without ever meeting them face-to-face.

“The need to manage the identities of people and things, and the relationships between them, will drive CIO’s, CISO’s and digital risk officers to foster unified IAM programs within their organizations. IAM leaders must seek new approaches that enable IAM to propel rather than inhibit digital business.”

With ForgeRock, retail banks can play a deeper role in the everyday digital lives of their customers. More than just a bank, you can become the personal financial partner to all your customers.

Banks should aim to create customer relationships that last for a lifetime. It is no longer sufficient to offer “one size fits all” banking solutions. Digital technology has enabled banks to create personalized products and services for all stages of a person’s life cycle.

ForgeRock ties customers to unique digital identities so banks understand who their customers are, wherever they are, no matter the communication channel. Download the asset to get detailed insights to go beyond transactions be more than digital with Forgerock.

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