Published 29 May, 2023 4 minutes of reading
Large financial organizations face an ongoing challenge of meeting the changing needs and behaviors of their customers. A Forrester study revealed that customer onboarding issues have caused a loss of 26-50% of new business opportunities for 20% of respondents(1). To adapt to these evolving customer expectations, banks, credit unions, and other financial institutions are rethinking how they serve their clients.
One crucial factor in successfully navigating these challenges is having the right teams equipped with the necessary tools and resources, both technical and non-technical. This orchestration of diverse team expertise plays a vital role in driving innovation and delivering customer-focused solutions. 
Empowering Organizations with the Modyo Frontend Platform
At Modyo, we recognize the importance of empowering organizations with the tools they need to succeed in an environment of ever-changing customer demands. To address this, we designed the Modyo frontend platform to support teams in creating, launching, and evolving digital channels efficiently. The Modyo platform offers a comprehensive set of elements that help organizations create parallel and streamlined workflows and processes, ensuring they meet customer needs effectively.
A Composable Frontend Connected to Microservices
A key differentiator of the Modyo platform is how it harnesses micro frontends, which enable development teams to work independently and simultaneously on different aspects of digital products. With Modyo, developers can configure development pipelines and utilize a browser-based micro frontend builder for simple, fast front-end development in the cloud. This model empowers smaller teams with built-in version control and publishing tools.
For larger digital factories, Modyo's command line interface (CLI) enables seamless integration with preferred development environments, IDEs, and Version Control Systems. Micro frontends created using Modyo can be easily connected to Microservices, allowing organizations to leverage existing data sources and develop applications that can be integrated and deployed across both web and mobile digital channels.
Reference Architecture that's Easy to Integrate with Other Services
Modyo offers cloud-first capabilities that integrate with business systems, enabling the creation of customer-facing digital experiences in the cloud while connecting to core systems. With over 10 years of cloud experience as a certified technology partner of AWS, Modyo provides the necessary expertise for organizations to become fully productive in either a SaaS Cloud, or a single-tenant Enterprise Cloud for large organizations requiring their own infrastructure.
By working in the cloud, organizations can update key software and hardware more efficiently, providing better tools and continuous updates. This means that Modyo's reference architecture ensures scalability, allowing organizations to adapt to changing business needs.
And while Modyo is cloud-native technology, the platform integrates with financial institutions that may be in early stages of their cloud adoption processes, and operating with legacy systems that may be on-premise.
Creation of Workflows for Technical and Non-Technical People
Modyo understands the importance of creating and managing workflows that cater to both technical and non-technical teams. By providing independence to these teams, Modyo enhances the process of adapting digital channels.
For instance, the marketing team may need to make quick changes to the messaging on the public website, but depending solely on developers can create bottlenecks and communication gaps. These inefficiencies can often plague large organizations, but Modyo takes a different approach by offering non-technical employees an intuitive interface to manage and deploy content across digital channels, while developers have the necessary tools to build channels independently.
By combining the efforts of these teams within the Modyo platform, your organization can ensure better digital experiences on every channel.
Unify Web Applications and Customer Experiences
Unifying customer experiences across your sites and applications into a single journey is crucial to providing better digital experiences for customers. The ability to deliver outstanding experiences for your customers as part of larger business strategies is where the platform truly shines.
Modyo allows organizations to build websites and applications unified under one platform, with reusable experiences that prioritize the customer. Mobile channels are also a priority, and Modyo enables the activation of Progressive Web Applications (PWAs) and their technologies directly within the platform. Additionally, micro frontends built in Modyo can be deployed through native app shells, unctionality on mobile devices that meets customer expectations, and eliminates the need for siloed, natively developed applications. Modyo's architecture and handling of data establishes the right boundaries between frontend customer experience and backend business systems, empowering digital teams to evolve, adapt, and cultivate a healthy digital ecosystem.
Catalog of Financial Experiences
To respond quickly to customers' needs, financial organizations in particular must deliver high-quality products with intuitive digital experiences efficiently. To that end, Modyo offers pre-made and industry-tested building blocks, coupled with the ability to customize and fit your use cases. By benchmarking the best digital experiences in financial services, we’ve created an industry-specific digital experience catalog with ready-to-go components highly personalized to specific business and retail customer moments, such as account summaries, loan origination, balance transfers, and much more. These experiences accelerate and evolve how your digital channels operate, simplifying integration and reducing time to business value.
Secure Development & Auditable Governance
Governance and security are crucial considerations across Modyo's digital ecosystem, providing large digital teams with built-in protections and auditability. These features are implemented throughout the platform, ensuring the security of your digital channels. Modyo's team review functionality facilitates an efficient approval process and includes change logs and version control for everything from public site content to transactional micro frontends. This feature is available across the platform from code to content, and streamlines publishing while effectively managing risks. By managing and monitoring access to digital channels, Modyo ensures that only authorized users can access sensitive applications, replicating the internal publishing and review process in a digital-first interface.
Modyo is a Powerful Solution for Your Organization
The Modyo Composable Frontend Platform is a powerful solution for large organizations seeking to scale their digital channels securely and efficiently. By enabling teams to work independently on different aspects of digital products, the platform empowers organizations to build customer-facing digital experiences in the cloud while connecting to core business systems. With the ability to manage and deploy content universally, develop and evolve web and mobile digital channels, and give an auditable framework to multidisciplinary teams, organizations can rapidly adapt and cultivate a healthy digital ecosystem, resulting in smarter, more efficient transactions and better digital experiences for their customers.
If you're interested in learning more about how Modyo can help your organization thrive, reach out and let's talk.
(1): Forrester.com. (2016). Forrester Research API Management Solutions Forecast, 2015 To 2020 (US). [online] Available at: https://www.forrester.com/report/Forrester-Research-API-Management-Solutions-Forecast-2015-To-2020-US/RES122361
