Panos Virvilios, Austriacard AG: “We focus and invest heavily in developing new digital services by providing integrated solutions and services, which will be in line with the evolving needs of clients”

“Being digital is about sitting at the forefront of the information technology and being able to supply our clients with cutting edge solutions that provide an actual advantage because digital transformation is as much about staying competitive as it is about staying in business,” says Panos Virvilios,  Marketing Manager at AUSTRIACARD AG.

“It is fundamentally important to be aware of “the difference that makes the difference” – this is a psychological maxim. Identifying what makes the critical difference, or what is the crucial factor for success, is precisely what is occupying so many organizations in connection with the ubiquitous digital transformation.”

What are the key elements at the heart of digital transformation?

Lately, the phrase “digital transformation” is heard and applied more and more intensely in companies and organizations, since our times are happening more and more in digital.

Being digital is about sitting at the forefront of the information technology and being able to supply our clients with cutting edge solutions that provide an actual advantage because digital transformation is as much about staying competitive as it is about staying in business.

It is fundamentally important to be aware of “the difference that makes the difference” – this is a psychological maxim. Identifying what makes the critical difference, or what is the crucial factor for success, is precisely what is occupying so many organizations in connection with the ubiquitous digital transformation.

The digital transformation process focuses on user experience and a design that keeps the customer top of mind, being agile, quick to innovate and adapt, because an effective service enables our customers to be successful.

In order to be truly relevant, a change also needs to take place in the hearts and minds of the people involved – starting with the managers who are leading it

With the latest developments in the world, the transition to more digitalized environments and ways of working, followed the fundamental change of everyday life at the same accelerated pace. The most difficult obstacle in the end but also in the heart of the change is the human factor and the general mentality of a company that consists of it.

Recently, the transition has accelerated in 2020, mainly due to Covid 19. The pandemic has also highlighted the value of information technology, as many people and companies have begun to realize that it has a lot to offer.

When planning any transformation not just a digital one, the management team must be able to explain clearly and convincingly why the change is necessary, and generate an inspiring and meaningful vision of the future. Similarly, it is vital for the success of a change project that everyone on the management team has the same understanding of the purpose and meaning of the change, and is able to convey a consistent and coherent shared narrative. In accordance with the principle of leading from the front, we as managers need to act as role models and be the first to internalize the expected change of perspective. And an important part of the narrative involves identifying which aspects of the transformation process have already been clearly decided, and which aspects have yet to be developed. This comes across as authentic, and offers the people affected the chance to take part in shaping their future – which can also boost their level of commitment.

What are the latest technological innovations that will become mainstream in the next years?

We are living in an extremely exciting time in terms of technology and digital transformation. Solutions like: Digital Onboarding & eSignature, CX & Customer Communication Management, OCR & DMS, RPA, Chatbot & Speech Technologies are only few of the technological innovations INFORM successfully brings to its clients. These solutions transform localized, physical in-person business-customer relations in remote, globalized  end2end processes which companies can provide from anywhere. They automate various repetitive tasks and reduce human mistakes moving as well basic informational services performed by humans in business hours to 24h/day 7days/week available through bots.

We focus and invest heavily in developing new digital services by providing integrated solutions and services, which will be in line with the evolving needs of clients.

In this respect, we have recently launched 2 new services – Digital Onboarding, RPA & chatbots, and we plan to continuously assess new growth opportunities in all of the fields of our business activity.

How should a digital company react to the growing number of new technologies?

A digital company should use and develop technologies that bring a competitive advantage and also should adapt to the growing needs of the market.

From our perspective, technology is just a tool, and the technology stack will continue to change. All these new tools and services based on the emerging technologies, are all servants in the service of a desired business result. Further, this list will change faster than you can say ‘PHP’. Lasting change in our organization will not be based on technology, it will be based on other, more fundamental, adjustments to the way we view our relationships and business.  At the end of the day, it all comes down to people and their spectrum of choices given to them! This will educate, train, and provide amazing experience and a critical eye in choosing the tools to transform our business. 

INFORM with a presence of 120 years in the market is definitely one of the longest-lived Greek companies, which despite its age, maintains business vigor, strong reflexes and dynamic profile.

The company dares and looks to the future and implements business solutions for one, as it says in its message, new world. High value-added products and services, such as interactive electronic accounts, electronic invoicing, electronic document and flow management, hybrid mail, automation solutions such as RPA (Robotic Process Automation), and Digital Onboarding are the areas where the company is focusing upon.

How can Digital Customer Onboarding increase sales and build loyalty?

The Digital Customer Onboarding Solution facilitates an efficient and personalized activation of Product and Services in online environments, making them available remote to an extensive reach of customers.

Onboarding has become a very popular word among financial institutions, since it provides means to secure customers, grow revenue and stay competitive.

However, due to the massive changes customer loyalty has suffered over the years, finding the most efficient ways to attract and retain customers has become increasingly more difficult.

The initial interactions a new customer has with any business set the tone for an entire relationship. And the likelihood of a customer sticking with a company increases with the level of prioritization given to creating an excellent onboarding phase.

An increased focus on onboarding offers significant or moderate positive impact over the life of the contract for revenue, client renewals, and client referrals.

Looking at it from the other side, the costs of not having a successful onboarding period are significant and this is an undisputed fact which must be addressed in any occasion.

Why should banks bet on Digital Customer Onboarding solutions?

Digitizing and automating the process of activating new accounts is of crucial importance for companies in the field of Banking, Telecom, Insurance, Utilities and Retail, as it facilitates the remote registration of new customers for the use of their services.

Due to increasing expectation for great customer experience when interacting with a brand is driving a tsunami of change through every bank across the world.  There is a great need for change where banks need to shift their mindset from Transactions to Experience-based approach for the new age clients in their banks such as opening an account; institutions need to establish excellence at the outset.

Customers may choose to onboard across multiple different devices, or even through a call center, and the experience is often inconsistent and which creates a lot of friction during the onboarding.

Banks need to develop an Omnichannel experience across each channel which will replace the existing increasing operational costs and low profitability

Most importantly, digitization of the details allows staff to spend time engaging customers in the conversations necessary for promoting and cross-selling high-value products and services.

As an example, a completely digital process makes it easier to upsell products like loan insurance, adding additional revenue.

Ultimately, and in consistency with the loyalty issue, creating an onboarding process builds customer loyalty and Sales.

Effective onboarding breeds loyal customers who make the most of the solutions givenand spread the word to others.

What are your company’s most important ongoing digital projects?

INFORM places its activity in the broader context of digital transformation and includes solutions CCM (Customer Communications Management), ECM (Enterprise Communications Management), Digital Banking, Augmented Reality commerce. Special emphasis is given to electronic data management (Distribution of Digital Documents, Distribution of Paper Documents), electronic delivery of forms as well as the secure management of forms and information. The transition from physical delivery to electronic delivery and electronic data and form management creates new opportunities for Inform, which is now considered a strategic provider of banking and telecommunications organizations as well as the private or public sector, with the solutions it provides.

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