The problem
Raiffeisen Bank, a leading financial institution in Austria and Central and Eastern Europe, faced a significant challenge in maintaining the high level of personalized service their corporate and private clients expected while transitioning to digital channels.
The traditional in-person interactions that clients were accustomed to were difficult to replicate in a digital format. Additionally, the complexity of financial transactions and wealth management required a secure, compliant, and seamless digital solution that could integrate multiple processes and support real-time communication.
As the bank expanded its digital presence, it encountered issues with fragmented communication channels and inefficient workflows. Relationship managers found it challenging to maintain continuous and secure connections with clients. The absence of a unified platform led to delays in transaction processing and advisory services, ultimately affecting client satisfaction. Moreover, ensuring compliance and security in a dispersed digital environment was a persistent concern.
The need to provide a OneStop experience for clients, encompassing everything from routine transactions to complex wealth management, became increasingly pressing. Raiffeisen Bank required a solution that could handle the intricacies of financial services while maintaining the high standards of security and compliance their clients trusted.
The solution
Raiffeisen Bank implemented Moxo’s collaborative workflow platform solution the RaiConnect app, creating a seamless digital branch that enabled secure and efficient remote client engagement and streamlined internal workflows.
Raiffeisen Bank turned to Moxo’s collaborative workflow platform to address these challenges. Moxo’s platform powers the RaiConnect app, creating a seamless digital branch for the bank’s corporate and private clients. This solution provided a unified and secure environment for clients to engage with their relationship managers remotely, ensuring that high-touch services could be delivered conveniently via smartphones.
Moxo’s platform enabled Raiffeisen Bank to streamline their transaction and wealth management processes through features such as real-time communication tools, automated workflows, and secure document sharing. Relationship managers could now manage complex transactions and advisory services more efficiently, without compromising on security or compliance standards. The platform's ability to integrate multiple communication channels into a single interface ensured that clients received timely and consistent support.
RaiConnect brings to our premium and corporate clients a new possibility to get remote, ongoing support and the high-touch service that they are used to getting when visiting our bank locations. They can do this conveniently and directly via their smartphones.
Zsofia Jokai, RaiConnect Product Owner, Raiffeisen Bank International
Additionally, Moxo facilitated a more collaborative internal workflow. Distributed teams within Raiffeisen Bank could now coordinate seamlessly, ensuring that all client interactions were handled promptly and effectively. This internal collaboration was crucial in delivering the responsive and high-quality service that Raiffeisen Bank clients expected.
The result
The implementation of Moxo’s collaborative workflow software through RaiConnect resulted in a significant enhancement in Raiffeisen Bank’s service delivery.
Clients experienced a streamlined and efficient transaction process, coupled with the convenience of managing their wealth remotely without compromising on the quality of service. The bank successfully placed a digital branch in every client's pocket, providing continuous support and high-touch service directly via their smartphones.
Raiffeisen Bank observed a marked improvement in client satisfaction. The secure and seamless business processes facilitated by RaiConnect ensured that clients could execute complex transactions and receive advisory services with ease. The automated workflows and real-time communication tools provided by Moxo minimized delays and improved the overall efficiency of service delivery. Zsofia Jokai from RBI says, ”By utilizing the various collaboration tools available through RaiConnect, our Relationship Managers have the ability to communicate transactions and provide advisory services conveniently and securely. We have always been committed to evolving the banking experience to exceed our clients' expectations and RaiConnect is another step in doing this."
Internally, the bank's distributed teams benefited from the unified platform, which enhanced their ability to coordinate and respond to client needs swiftly. This internal efficiency translated into better client experiences and reinforced Raiffeisen Bank’s reputation for reliability and excellence in financial services. By leveraging Moxo’s platform, Raiffeisen Bank not only met but exceeded their clients' expectations, solidifying their position as a leader in the financial industry.
