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Retail Banking

Overview

Sonata - Where Banking Meets Innovation

At Sonata, we understand the ever-changing retail banking landscape and we’re committed to elevate your experience. With a deep understanding of the industry, we offer innovative solutions that enhance customer experience, streamline operations, and ensure regulatory compliance. Our focus on personalized services and efficiency boosts customer satisfaction and loyalty.  

Offerings

A Suite of Solutions Designed for Today's Retail Banking Needs

  • Core Banking Systems Support

    Core Banking Systems Support

    We provide essential assistance, including maintenance, consulting, and continuous enhancement of banking software systems.
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    We provide essential assistance, including maintenance, consulting, and continuous enhancement of banking software systems. Our support covers maintaining applications, handling ticketing, and ongoing enhancements to ensure the optimal functioning of core banking systems. 

  • Mobile Banking

    Mobile Banking

    With our mobile banking solutions, banks can offer customers a secure and convenient way to access their accounts anytime, anywhere.
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    With our mobile banking solutions, banks can offer customers a secure and convenient way to access their accounts anytime, anywhere. The platform is designed to streamline operations, reduce costs, and enhance customer satisfaction. By prioritizing user experience and security, we help banks stay ahead in the mobile-first era. 

  • Digital wallets and Payment Systems

    Digital wallets and Payment Systems

    Our solution offers seamless onboarding and frictionless KYC.
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    Our solution offers seamless onboarding and frictionless KYC. We leverage AI/ML-driven analytics to automate digital wallets while enhancing data security. It empowers retail banks to make data-driven decisions, improve user experience, and maintain a competitive edge in the digital market. 

  • Customer 360

    Customer 360

    Deepen customer relationships and drive loyalty by consolidating customer data and enabling personalized interactions.
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    Deepen customer relationships and drive loyalty by consolidating customer data and enabling personalized interactions. Our Customer 360 program ensures compliance with regulations such as GDPR and CCPA while improving tracking and analysis of customer interactions. 

  • Digital Onboarding

    Digital Onboarding

    Transform customer onboarding process with our comprehensive digital onboarding solution, equipped with advanced KYC/AML capabilities that cover everything from identity verification to digital signatures.
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    Transform customer onboarding process with our comprehensive digital onboarding solution, equipped with advanced KYC/AML capabilities that cover everything from identity verification to digital signatures. By leveraging chatbots and automation, banks can accelerate onboarding, enhance security, and streamline compliance processes. 

  • Regulatory Compliance

    Regulatory Compliance

    Navigate complex regulations and protect customer data with our data privacy and compliance solutions.
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    Navigate complex regulations and protect customer data with our data privacy and compliance solutions. From risk assessment to policy management, we offer end-to-end solutions to ensure compliance with GDPR, CCPA, GLBA, and PCI DSS laws. Our comprehensive approach to cover risk assessment, policy management, monitoring and reporting.

The Sonata Difference in Retail Banking

Digital Contact Center  

Our digital contact center solutions prioritize convenience and accessibility for retail banking customers. From account management, to live chat support, we offer personalized financial guidance and quick issue resolution. By leveraging AI-powered technologies, banks can enhance customer support and deliver seamless banking experiences across channels. 

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Generative AI

Transform retail banking experience with Sonata’s Generative AI solutions - Harmoni.AI. Our AI-driven technology enhances the overall customer journey by offering improved customer support, facilitating convenient banking services, and enabling responsive communication. Backed by our "Responsible by Design" platform, it grants access to LLMs and a consulting framework that ensures effective adoption and accelerated time to market. 

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Data Privacy

Protect customer data and uphold rigorous standards of data protection with our data privacy solutions. We employ advanced technologies to safeguard sensitive information and ensure secure data management. Our solutions enable banks to deliver personalized services while maintaining trust and compliance. 

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Microsoft Fabric  

Unlock insights and enhance decision-making with our Microsoft Fabric offerings. Our unified analytics platform delivers data-driven insights and AI-powered experiences, empowering retail banks to personalize customer interactions and drive operational excellence. With Fabric, retail banks can boost customer lifetime value and loyalty by offering a holistic view of each customer's financial state. 

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Advanced Technologies

Automate routines like account openings and fund transfers with our advanced technologies. From RPA to personalized marketing campaigns, we offer solutions to automate processes and leverage customer data for improved engagement and cross-selling opportunities.

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Success Stories

Seamless Implementation of DevOps Solution

Following a merger in July 2023, a prominent financial institution faced the daunting task of upgrading over 450 applications to DevOps by 2023 end. Opting for GitHub Actions for CI/CD orchestration after acquiring GitHub, the client encountered challenges with manual and time-consuming workflows, along with complex processes beyond GitHub's capabilities. Sonata stepped in to implement DevOps in the client landscape, focusing on streamlined governance and automated deployment. The result? A 25% reduction in TCO.

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Next-gen Digital Payment Solutions

In response to the needs of a leading retail bank's merchant services division, Sonata devised a comprehensive strategy to enhance their UPI-based Payment Platform. This involved establishing a COE team for platform development, introducing new features and enhancements, and orchestrating a platform’s cloud transformation. The results were significant, with over 10,000 merchants seamlessly integrated with the APIs and a notable 30% reduction in incident volume.

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