How LOQR Can Help You Create a Digital Branch

The rise of smartphones and increased online access have revolutionised how we manage our finances and interact with financial institutions. Today’s customers expect a convenient, anytime/anywhere banking experience, and many financial organisations need more knowledge and visibility of their customers’ behaviour to offer such an experience. This is where a digital solid branch comes into play – it’s your virtual storefront, accessible 24/7.

LOQR steps in as your digital branch partner, providing the tools to create a more personalised and seamless experience for each customer, fostering stronger relationships, and driving growth. 

What is a Digital Branch?

A digital branch is a bank’s virtual extension, accessible 24/7 from devices with an internet connection. It replaces the need to visit a physical branch by offering all the essential banking functionalities online. These functionalities are usually provided through a website, a mobile app, and an online banking platform. Unlike traditional branches with limited operating hours, a digital branch offers the convenience of managing your finances anytime, anywhere. 

Why You Should Invest in a Digital Branch

A digital branch has many benefits. By providing a user-friendly platform for transactions and account management, you can significantly improve customer satisfaction. Additionally, automating many processes typically handled in physical branches can streamline operations and significantly reduce costs. 

But the advantages go beyond cost savings. A digital branch allows you to gather valuable customer behaviour and preferences data. These data-driven insights empower you to personalise your offers, develop targeted marketing strategies, and drive business growth. 

Furthermore, online-only financial institutions are rapidly gaining strength, posing a significant threat to traditional banks. Creating a robust digital branch allows you to compete effectively by offering comparable accessibility and ease of use. 

Key Features of a Successful Digital Branch

User-Friendly Interface and Navigation: The digital platform should be easy for anyone to navigate, regardless of their technical expertise. This includes a clean layout, clear menus, and easy-to-understand functionalities.

Security and Reliability: Customers who entrust their finances to a digital branch expect top-notch security. Implementing robust encryption, multi-factor authentication, and regular security audits are examples of ensuring a safe and reliable platform.

Personalised Experiences: Gone are the days of one-size-fits-all banking. A successful digital branch tailors the experience to each customer, involving personalised dashboards, relevant financial product recommendations based on customer needs, and targeted financial literacy resources.

Omnichannel Communication: Seamless integration of various communication channels allows customers to choose their preferred contact method. This might include live chat features within the platform, secure video banking options for consultations, and efficient email support.

Advanced Features: It is important to consider incorporating features that enhance the user experience and differentiate your digital branch.

Analytics and Reporting: A successful digital branch leverages data analytics to obtain valuable customer insights. Track user behaviour, understand their needs, and measure the effectiveness of your services.  

How LOQR Can Help You Build Your Digital Branch

Focused on the financial sector, LOQR empowers its clients beyond their digital business by providing a customer-centric Platform to broaden and diversify the profile of customers accessing digital financial services. 

LOQR’s know-how in cybersecurity, compliance, and market regulations, combined with solid financial experience, is the foundation of a seamless solution within the economic ecosystem. 

LOQR is more than just another software solution. It acts as your digital branch partner, providing the tools and technology to optimise customer experience while delivering unique insights to evolve towards a proactive digital transformation. 

We have enabled financial institutions — established banks, neobanks, crypto platforms, and credit institutions — to grow and unlock their digital potential by providing simple and convenient solutions. Our goal is for our clients to have access to a single place where data is gathered, detailed information about each journey is displayed, and customer service operations are streamlined. With a fast time to market, our solutions are designed to guarantee scalability and adaptability, seamlessly meeting financial institutions’ ever-changing demands. 

Some of LOQR’s Key Advantages

Digital Insights: LOQR’s Digital Insights offers a transformative solution incorporating real-time data analytics. This enables clients to translate customer journeys effectively and make data-driven strategic decisions based on important business metrics such as elapsed interaction time at each process step, customer status visibility, and business conversion rate. 

Journey focused on the specific BFSI needs: Our adaptable and customisable solution accommodates your business’s dynamic needs, effortlessly aligning with the financial ecosystem’s ever-evolving requirements. LOQR’s Platform and optimised journeys are also designed to increase customer stickiness and provide access to new market opportunities. 

Expertise in banking & innovation: 90% of us are experts in Cybersecurity and Compliance, and the company has already empowered the lives of almost 80 million potential users worldwide. We understand the challenges and specific needs within this heavily regulated industry, delivering innovative solutions designed to guarantee our clients’ expansion and growth.

Extensive Compliance coverage: LOQR’s Platform focuses on user experience principles and fully complies with the applicable regulations, ensuring that our clients fulfill KYC/KYB and AML requirements. 

Security: We ensure the protection of the data entrusted to us, working proactively to guarantee that security takes centre stage in developing LOQR’s Platform.  

Benefits of Using LOQR Solution for Your Digital Branch

Investing in LOQR for your digital branch unlocks many benefits, strengthening your competitive edge and empowering you to deliver better customer experiences.  

Streamlined Customer Experience: LOQR’s user-friendly interface and efficient functionalities simplify banking tasks for your customers. From intuitive navigation to seamless transactions, LOQR eliminates friction points and promotes a smooth experience that keeps users returning. 

Enhanced Customer Acquisition and Retention: Personalised experiences are crucial to attracting and retaining customers. With LOQR’s insights, you can offer customers intelligent product recommendations and deliver targeted content, helping you connect with customers more profoundly, fostering loyalty, and driving long-term relationships. 

Operational Efficiency Boost: LOQR streamlines internal processes by automating many tasks traditionally carried out by physical branches. This reduces operational costs and frees up your staff to focus on more valuable activities like personalised customer service or strategic planning. 

Data-Driven Decision Making: LOQR provides you with valuable data about your customers’ behaviour and preferences, which allows you to gain deeper and better insights into their needs and adapt your offers accordingly. Imagine identifying customer segments with a specific financial need and creating targeted marketing campaigns around relevant products. This data-driven approach fosters more intelligent decision-making and optimises your digital branch strategy. 

Scalability and Future-Proofing: The flexibility of the LOQR Platform allows your digital branch to grow alongside your business. As your customer base expands and your needs evolve, our Platform can be easily scaled to accommodate the increasing demands. Moreover, LOQR stays ahead of the curve by integrating with emerging technologies, ensuring your digital branch remains competitive for years. 

Getting Started with LOQR

The digital banking landscape is evolving, and a solid digital branch is no longer optional. It’s the key to attracting new customers and retaining current ones who demand convenient, personalised financial experiences. LOQR can help you transition to this digital environment as your digital branch partner. 

We empower you to create a seamless and secure platform and deliver more personalised experiences to your customers. Join us, and let’s unlock your digital potential.