Not a traditional bank nor a Fintech, Advanzia is a digital bank in the consumer finance space that serves a range of customer niches and markets, each with its specific regulations, challenges and processes.
Previously, its multi-channel approach relied on a legacy architecture of varying technologies to independently service each market segment. To become truly digital and meet the shifting demands of its wide customer base, while also ensuring sustainable business operations as a fast-growing organisation, an all-encompassing digital transformation was necessary.
Advanzia designed and implemented an omni-channel, cloud-native digital banking platform, where emerging technologies and a partnership ecosystem aim to provide scalable, customer-centric solutions. This allows frictionless customer interaction throughout the entire client lifecycle and across all channels, markets and brands.
The digital bank leverages API-first, microservice and infrastructure-as-a-code architecture to connect its backend systems with its cloud-based platform ecosystem, enabling partner integrations, customer interactions and business operations to be harmoniously and securely handled. The resulting modern architecture slashes the time to market for new features, functionalities and products, allowing Advanzia to quickly adapt to ever-changing customer needs and meet growth goals.
The commitment to true digital is embedded in Advanzia’s corporate vision, strategic initiatives, and each employee’s individual goals. The transformation is empowering its staff to work in a smarter and more innovative way; by embracing digital tools, employees are freed from labour-intensive tasks to take on more creative projects that add value.
A spectrum of real-time touchpoints for every customer need
Today’s customer expects to interact with their bank in a myriad of ways, whether online, on the move, or offline. While younger customers favour Advanzia’s credit card app and new communication channels, older customers prefer speaking to a human being in its service centres.
Advanzia has a diverse client, brand and product base, including over 2 million credit card customers in six countries and over 180 partners harnessing its Cards-as-a-Service (CaaS) offering. As the bank grew, its legacy platform struggled to offer a seamless customer experience across all its markets, segments and regulatory environments.
Today’s customer expects to interact with their bank in a myriad of ways, whether online, on the move, or offline.
Advanzia’s omni-channel approach provides a variety of touchpoints for customers to engage with the bank and manage their financial products – mobile, digital and in real-time. These channels range from a classic customer service hotline to mobile apps and desktop portals, email and social media, offering an array of self-service functionalities.
Thanks to the bank’s state-of-the-art cloud services and strong partnership ecosystem, customers can effortlessly transition between channels. Whenever a customer interacts with a touchpoint, other touchpoints can access the information in real-time, creating a seamless and valuable user experience.
The digital bank always seeks to create new user experiences through technology. For example, it is currently overhauling its online application and customer onboarding process to be more lean, seamless and user-friendly using digital and real-time capabilities. However, Advanzia also values the needs of its loyal customers who do not fully embrace the digital world, such as through its service centres.
Scalable, cost-effective cloud-based services
Advanzia’s partnership ecosystem features strong providers who are experts in their fields, including cloud, customer service and lifecycle management. Through the integrated API gateway, the bank aims to leverage these suppliers’ core capabilities in order to offer real-time, modular services, allowing it to reduce internal complexity, minimise costs, increase efficiency in business operations, and accurately measure the business value of these investments.
To meet its dynamic growth goals, Advanzia was the first Luxembourg digital bank to adopt a cloud-based infrastructure. By implementing stable, cost-controlled cloud strategies and moving IT from a capital expense to an operational one, the bank improved its cost overview and can pay for services when and where needed.
To meet its dynamic growth goals, Advanzia was the first Luxembourg digital bank to adopt a cloud-based infrastructure.
The cloud business platform ecosystem is enabling Advanzia to easily partner with solution providers and Fintechs that can quickly adapt to changing customer trends and business needs, such as seamlessly integrating CaaS services into clients’ IT infrastructures. This allows the bank to stay ahead of the curve in a competitive market and regulatory environment, and ultimately continue to grow sustainably. And by offering customers a tailored user experience and more self-service touchpoints, the digital bank has reduced costly call centre interactions while increasing customer autonomy and satisfaction.