The banking sector pioneered digital transformation in Russia. On the one hand, banks strove to deal with credit portfolio degradation, more pressing industry legislation, and negative macroeconomics trends. On the other, they faced ever more demanding customers and fierce competition with other banks, FinTech, and social networks.
Digital transformation gave the banking sector a total makeover. Today's market leaders not only address core business agenda, but also build comprehensive ecosystems as a single point of contact to cover and even anticipate any customer needs. This can be a variety of services, including assistance with residence selection, financing, purchase, registration or rent, as well as accounting, mobile virtual network operators (MVNO), and different marketplaces.
Digital service progress and continuous transformation of bank's business units are possible only if developers and IT professionals are closely connected. Their effective communications and process maturity directly influence customer experience, new service time-to-market, flexible product line planning, as well as building and rapid scaling of partner ecosystems.
Responding to these challenges, CROC Digital Insight combines the best management consulting practices, mastery of creating digital solutions, and CROC's long-term track record in sophisticated infrastructure and integration projects. We support our customers throughout the project lifecycle: from the very idea, hypothesis, and prototype to IT infrastructure transformation and roll-out of brand-new solutions. We help our customers embrace the most innovative technology and adopt global best practices: detailed analysis, customer journey management, omnichannel communications, predictive analytics, and the forecasting of customer churn and lifetime value.
More than half of Russians (53%) use mobile banking (apps on their smartphones and tablets), and about a third (30%) use internet banking. Mobile banking will keep winning customers. According to CROC Digital Insight's survey on Russian banks’ digital maturity 2019, every 10% increase in the number of bank’s digital customers reduces its cost-to-income ratio by 2.5%.
Banks already enjoy our support in developing their own ecosystems (for instance, our solutions for mobile virtual network operators). CROC Digital Insight offers a turn-key software platform creation, from identifying user needs and integration with internal systems to development of handy customer communication tools.