rethinking your digital banking solution: 7 factors that matter

Executive Summary

• Digital banking is no longer simply another channel. It plays a central role in how accountholders interact with their financial institution, access services, move money, get support, and manage their financial lives.
• Expectations are high. 78% of consumers identify digital channels as their go-to method for banking, while 37% say they're willing to switch to a provider that better aligns with their needs. Among Millennials and Gen Z, that number rises to nearly 60%.
• For banks and credit unions, that makes the digital banking platform an increasingly important strategic decision. The right platform needs to deliver a compelling accountholder experience while supporting employees, innovation, integration, adoption, growth, and better use of data.
• If your current technology is making those priorities harder to achieve, it may be time to rethink what you expect from digital banking.

The question isn't simply whether your current platform works. It's whether it gives your institution the flexibility, experience, operational efficiency, and insights you need to compete going forward. When evaluating your current platform or considering a new provider, focus on seven areas:

1. Start with the foundation: platform structure

A great digital experience becomes harder to achieve when desktop, mobile, and back-office experiences depend on disconnected systems.

A unified digital platform can provide a more cohesive experience for accountholders while reducing complexity for the employees supporting them. Native app architecture can also take advantage of built-in device capabilities, while a platform capable of serving consumers and SMBs can accommodate customers and members as their financial needs evolve.

Ask potential providers:

• Are desktop and mobile delivered through one unified platform?
• Is the mobile experience built using native app architecture?
• Can the platform serve both retail and SMB accountholders?

2. Make openness mean something

"Open" has become a common promise in financial technology, but not every provider defines openness the same way.

Institutions that want greater control over their innovation strategy should look beyond the label. Public documentation, open APIs, self-service developer resources, flexibility in programming languages and technology stacks, and a strong developer ecosystem can make it easier to build your own capabilities or connect with third-party fintechs.

That flexibility also needs the right architecture behind it. Integrations shouldn't come at the expense of overall performance.

Ask potential providers:

• Are your APIs open and publicly documented?
• Can our developers access tools and resources without unnecessary barriers?
• Can we use the programming languages and technology stack that work for us?
• How does the architecture isolate integrations to help protect broader platform performance?

3. Don't overlook the employee experience

Your employees are the people who support, champion, and help accountholders use your technology. Their experience matters, too.

When employees need to jump between multiple back-office systems simply to answer a question or resolve a problem, support becomes more complicated. A unified approach can put relevant information and tools closer to the point of service.

Digital support also shouldn't feel disconnected from digital banking. Capabilities such as authenticated in-app chat, video support, and screen sharing can create a more seamless support experience, while AI may offer new ways to augment employee productivity over time.

Ask yourself: Does our digital platform make it easier for employees to serve accountholders, or add another layer of complexity?

4. Design around the accountholder, not the technology

Accountholders don't care how complicated the systems behind their financial institution are. They care whether their money is easy to understand, access, and manage.

That means providing accurate, up-to-date information; useful alerts; consistent experiences across devices; integrated payments and money movement; and access to the functionality they expect.

The eBook also points to the importance of account aggregation. 86% of consumers prefer using a single app for all their banking needs, underscoring the value of providing a more complete view of their financial lives.

And their needs aren't static. Someone may move from traditional consumer banking to gig work, a side business, or entrepreneurship. The digital experience should be able to grow with them rather than sending them elsewhere when their financial life becomes more complex.

5. Turn adoption into greater value

Buying technology isn't the same as realizing value from it.

Your digital banking strategy should consider how you'll encourage accountholders to discover and use the capabilities you've invested in. Contextual messages inside digital banking can create opportunities to reach people where they're already engaging with your institution, while adoption campaigns can help extend the value of your investment beyond launch.

An open digital ecosystem can also create opportunities related to third-party fintechs and payments, including revenue sharing, cross-sell and upsell opportunities, interchange income, and referral income.

The goal shouldn't simply be digital adoption. It should be turning engagement into stronger relationships and greater value for the institution.

6. Evaluate the company, not just the product

Choosing a digital banking platform means making a long-term technology decision.

A feature comparison can show you what a provider offers today. It doesn't necessarily tell you where that provider is headed.

Examine its financial stability, long-term strategy, technology roadmap, industry partnerships, and approach to developments such as cloud computing, AI, and open banking. Transparency about modernization and innovation can help you determine whether you're choosing a provider positioned to evolve alongside your institution.

Don't just ask, "Can this platform meet our requirements?" Instead ask, "Is this the company we want beside us for what comes next?"

7. Make your data useful

Data is only valuable when you can put it to work.

Look for a digital banking platform that provides access to raw data and lets your organization use the business analytics tools it prefers, rather than tying valuable information exclusively to a proprietary warehouse.

Real-time reporting and actionable insights can help institutions move beyond simply measuring digital adoption. The right data can help reveal friction, identify relationship-building opportunities, evaluate campaign performance, understand onboarding activity, and recognize potentially at-risk accountholders.

The question isn't "Do we have data?" It's "Can we turn that data into better decisions and more meaningful interactions?"

When staying put becomes a strategic decision

Moving to a new digital banking provider is significant. It affects your employees, your accountholders, your technology environment, and your broader strategy.

But maintaining the status quo carries its own consequences. As the eBook notes, avoiding change can put an institution at a competitive disadvantage and affect long-term profitability and success.

So rather than asking whether switching will require effort, the more useful question may be: Is our current platform capable of taking us where we want to go?

If the answer is unclear, it may be time for a deeper evaluation.

Explore how Jack Henry can help you build a more open, connected, scalable digital banking experience designed around your accountholders, employees, and long-term strategy.