E-shop for banking services
Finasta – the largest private banking and wealth management company in the Baltics and one of the most innovative financial service providers in Lithuania. As of 2015 it is integrated into the largest domestic banking group Siauliu bank.
Finasta has always strived to increase value of its clients’ assets by employing highest quality innovative financial service solutions.
Thin network of bank branches country-wide posed a challenge of finding a cost-effective way to get closer to Finasta’s current and prospective clients.
Finasta was always a flagman in providing innovative service solutions to the market and was therefore ready to take its business to the next level by increasing efficiency through greater employment of technology.
Technology-based approach was given a task to increase accessibility of Finasta’s banking services without a need of further inefficient investments into a brick-and-mortar branch network.
Already a leading asset management company in the Baltic States, Finasta were ready to take business to the next level by making their services even more accessible and efficient to both current and prospective clients. However, it was hard to achieve as the bank had only four branches across Lithuania and were looking for new, more cost-effective and convenient ways to get closer to their customers.
After carrying out a thorough analysis of the workflow of every single department in the bank, we created a brand new model of a modern platform, allowing clients to sign up for banking and make a deposit with Finasta without ever leaving the comfort of their home.
We simplified new client acquisition into an easy to follow three-step process, allowing prospective clients to start using full scope of Finasta’s banking services within mere hours after starting the application process.
- New clients are invited to sign up for banking with Finasta on a dedicated eshop.finasta.com. Clients may simply open a bank account or even put a deposit straightaway
- All the required documents are automatically generated and delivered to a prospective client by a courier who also checks client’s personal ID, gets a client to sign all relevant documents and safely uploads all information to the e-shop platform
- e-shop platform administrator verifies client’s data in the system and activates a bank account
And that’s it – a prospective client without ever paying a visit to the nearest Finasta branch gets a bank account with a deposit he had put up when signing up with Finasta as well as access any other financial services provided by our partner.
Creating an interface that would clearly differ from any other platform on the market was our next challenge of equal importance.
Our team opted for a bold innovation in the market by packaging a wide range of banking services offered by Finasta into an easy to use and intuitive navigation menu
E-shop platform was completely integrated into Finasta’s existing banking system. It’s distinctive characteristics:
- An efficient and fully automated contract management system
- Full payment integration with other local banks
- Full integration with the courier’s system
- Real time order-status check
To ensure seamless operation of a three-step client acquisition process and to increase it’s security we have also built a mobile app to be used by a courier when visiting prospective clients.
The mobile app offers:
- Real time client identification
- Fast and secure transfer of clients’ personal ID details into the e-shop platform
- Virtual aid to a courier while taking a snapshot of client’s ID document
- Real-time courier tracking
Results and Benefits
Finasta trusted our expertise in creating brilliant interfaces, but one of the main challenges was a platform so easy to use that it would not require any further investments into training new team members.
Challenge fulfilled: the system is as automatic as it can get. Due to efficiency of the newly created platform Finasta can now serve more clients much faster than before. Moreover, our partners have significantly cut their customer service costs.
eshop.Finasta.com immediately after its launch generated as many new clients as a traditional brick and mortar branch for fraction of the cost.