Software Group: Unified Multichannel Strategy for Enhanced Customer Experience

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Kalin Radev, CEO
Today’s customers take an “anywhere, anytime, multiple-device-access” approach to their banking needs and the explosive growth of customer interaction touchpoints has blurred the lines between traditionally defined customer outreach channels. Customers usually toggle between devices during online processes such as applying for bank accounts, loans, or credit cards. For example, an individual can initiate a credit card application on his smartphone, submit the required documents through a web portal and visit the bank’s branch only to sign a few documents. Alternatively, now netizens have options to add digital signage to avoid any physical travel to a bank’s branch. So what does this new trend hold for the financial service providers?

For financial institutions, it is imperative to unify this multichannel approach under an omnichannel strategy and offer a seamless customer journey across devices. However, the barriers to implementing the omnichannel strategy lie in sizable investment, complete technological redesigning, and a longer deployment period. At the forefront of addressing the digitalization and omnichannel integration needs of the financial sector is Software Group, a global technology company that helps financial service providers digitize their business and successfully go through the process of digital transformation.

Software Group’s digital banking platform enables financial institutions to interact across multiple customer touchpoints. Their best-in-class data collection and analysis tools capture consumers’ intent at every touchpoint and then analyzes the intents to provide financial service providers with the relevant insight to offer a more personalized conversation with their consumers. “We are helping financial institutions to design, launch, and unify their digital products through an integrated digital banking platform and drive organization-wide omnichannel strategy,” says Kalin Radev, CEO, Software Group.

The company’s experience and expertise in more than 75 different financial markets across the globe have helped them shape the digital platform to cater to virtually any financial institution. From a technical architecture perspective, the platform is a consolidation of two layers. The first component of the platform is the integration layer that connects internal and external data systems for transactions and/or information sharing. The second one is the presentation layer that gives financial institutions the ability to design workflows for their multichannel customer touchpoints.

The key features of the consolidated platform are its simplicity and flexibility to meet and fulfill the digitalization needs of any financial institution.

We are helping financial institutions to design, launch, and unify their digital products through an integrated digital banking platform and drive organization-wide omnichannel strategy”

Clients can quickly adapt and implement the intuitive platform within 6 to 12 weeks, instead of the conventional deployment time of one to two years. Radev says, “Our shorter implementation time enables our clients to launch their new products and services into the market quickly.”

Recently, Software Group helped one of its clients, a bank with a footprint in over 20 countries across Asia. The geographically distributed workforce posed an immense challenge for the bank’s daily operations. The bank’s top priority was to unify their key employees spread across different branches and ensure a seamless experience for their customers. The institution leveraged Software Group’s expertise to create a cloud-based platform that allowed all members across their financial institutions in Asia be part of a shared platform.

“The main differentiator of our service is the digital competence we offer to our clients through powerful integration architecture and how we organize and orchestrate their cross system, cross channel workflows,” remarks Radev.

In March 2019, Software Group signed a loan deal with the European Investment Bank to receive EUR 18 million funding. The company will invest the funds in two main areas – primarily in R&D and innovations, and also in business development and marketing. In the next three years, Software Group will focus on developing new technologies, platforms, and products in the fields of insurance, factoring and the Internet of Things (IoT). The company also plans to invest in strategic partnerships with other technology vendors and consultancy organizations. “Currently, we are optimizing our platform to cater to the wide range of demands from the top players in the finance domain,” adds Radev, voicing a optimistic future for his company.

Software Group

Sofia, Bulgaria

Kalin Radev, CEO

A global technology company specialized in digitalization and integration solutions for financial services institutions to improve organizational efficiency and customer outreach