Exploring phygital The new baseline for banking is phygital
It’s easy to think of physical and digital banking as being in competition. They don’t have to be. They work best in collaboration. Because customers want both.
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Skillfully combining physical and digital payments and banking experiences to create one integrated journey that’s seamlessly secure, convenient, and customer centric. That’s the power of phygital.
Whitepaper Build the branch of the future
With the power of self-service.
News Thought leaders
Explore the ever-evolving phygital landscape through our news, opinion, and editorial content.
Outsourcing card issuance to boost efficiency
The banking landscape is more competitive than ever. How can outsourcing card issuance boost efficiency and help banks build better customer experiences?
Go Digital First: make phygital work
Digital First needs to be part of every bank’s phygital strategy. Tech-savvy customers demand as much in their search for the best experience.
The future of banking: phygital use cases
Phygital customer experiences enable banks to offer the best of both physical and digital.
Designing digital banking for different demographics
Customer journeys that strike the right balance of physical and digital are key to appealing to different age groups.
The bank is where the customer is
The pandemic changed the way we access banking services. How can banks leverage technology and develop their physical presence to maximize user experience?
The perfect customer journey in banking
As discussions surrounding the intersection of physical and digital intensify, the right approach will be instrumental for banks to evolve customer relationships and improve customer loyalty.
Driving phygital banking transformation
At G+D’s DCX event, digital payment expert Richard Turrin and G+D’s Gabrielle Bugat came together to discuss phygital transformation.
Are banks ready for the phygital future?
Discover what banks think about the trends at the intersection of physical and digital banking, from developing a cohesive customer journey to ensuring a physical presence.
Transforming the payment value chain
The payment industry is in flux. It is fast-moving and ever-changing, yet legacy issues mean that transformation can pose a challenge
Finding a balance between digital and in-person banking
Phygital solutions could help banks to thrive by providing a seamless and adaptive service to their customers.
How to improve the payment card activation process
Discover the benefits of digitalizing the payment card activation process.
Resources Information into insight
From strategic understanding of self-service implementation to real data from banks already on the phygital journey and reports from industry experts, explore our collection of useful resources:
Solutions The phygital journey
Enabling end-to-end, integrated, and phygital payments and banking experiences.
Ensure you meet—and exceed—customers’ expectations with convenient onboarding solutions no matter where or when they choose to begin their journey.
Provide your customers the most elevated, innovative issuance experience possible—on their terms.
Ensure your customers feel empowered and ready to spend through a smooth, straightforward, and convenient activation journey.
Convenience, control and choice remain central to your customers’ experiences—throughout their entire relationship with your business.
Financial institutions need simple, accessible, yet comprehensive solutions to manage the payments and banking journey.
Keeping the attention of customers is vital to success, so can support you with solutions that are sure to win customers’ hearts and minds.
Customer-created cards
Every customer is unique. That’s why we provide them with powerful tools to create the card they like. They can draw from their own imaginations with the power of AI, upload their own photos, or choose from a range of pre-supplied themes and images. Backed up by a comprehensive backend infrastructure and accessed via an easy-to-use portal, the user experience is positive for you and your customers.
Real time data processing
The data gathered at the onboarding stage—whether generated internally or provided by the customer—is a vital foundation for the entire relationship. Inaccuracies or delays in making changes to information can both slow down the onboarding process and introduce issues later in the customer journey.
Create an onboarding process that moves at pace with real time data processing. Changes to information are reflected instantly, so delays and bottlenecks are eliminated.
Card creation
From design consulting to material innovation and technical specification, ensure you create the perfect card for your card program. No matter where your business operates, or how complex your payment card offering, we ensure that you can offer your customers a card tailored to their lifestyle and your brand.
Automated (physical) onboarding
Let your customers join you at the time and in the way they choose with automated onboarding kiosks. These unmanned kiosks can easily and effectively guide them through the process. Starting with gathering initial details, choosing the product that’s right for them, and handling ID verification and customer authentication, the kiosk prints the payment card there and then, so your they will feel valued, supported and ready to begin spending straight away.
Physical comms management
Enhance your customers’ experiences with physical communications, tailored to their needs. Accessed through a convenient web portal, banks can configure printed materials, segment their messaging to specific audiences, and bring their service portfolio to life with offers and related products, for a richer, fully branded issuance journey.
Updates and messaging
Keep your customers informed throughout every step of the issuance process, with individualized “phygital” messaging that blends traditional and digital media. Reassure your customers with real-time updates on the status of their card orders and provide the information to make their relationship with you a success. Email and SMS messaging opens the lines of communication, making customers feel supported and engaged.
Digital card display
Even the most efficient issuance processes take time, from card creation to delivery. With a digital card display, your customers can begin using your services as soon as they’ve onboarded, making payments while waiting for their card to arrive. It’s just as easy as using a physical card, and can be accessed straight from their banking app.
Digital carrier enhancements
Transform the carrier experience with the power of digital, and embed video, links to product guides, offers or additional up-sell products and web services within your printed materials. Turn a simple sheet of paper into a branded, curated and visual experience that’s sure to surprise and engage.
Self-serve card printing
Offer instant card printing and collection for today’s time-poor customers. Instead of waiting for a card to arrive through the post, your customers can quickly visit an unmanned kiosk at a time that suits them, collecting their card within minutes. Eliminate delays, accelerate the customer journey, and offer truly convenient activation experiences.
Activate card and app
Harness the power of digital and build a modern, frictionless activation experience. As today’s customers increasingly value choice, personalized services and convenience as their main drivers, leverage the power of automation to provide an efficient, effective activation process—through the channel that makes the most sense for your customers, your banking app.
Passwordless authentication
Make customer onboarding and authentication easy. Customers can verify their identity or approve transactions with just a touch of a finger or glance at their mobile screen. Biometric authentication is more secure than a One-Time Password (OTP) and makes life easier for the user. And without passwords there’s no attack vector—no central database means no shareable data.
Smart packaging
Seamlessly link the physical welcome experience with the digital, using innovative, tailorable NFC-enabled packaging. Supply guides, link to offers and additional services, or enhance your brand with rich digital media, all with the touch of a phone. Smart packaging supports a truly phygital, customer focused activation experience.
Payment token management
Enhance the capabilities of mobile wallets using network tokenization to empower customers with visibility and control over their digital payment credentials. Avoid security concerns, eliminate checkout friction, and remove the risk of customers losing track of where their payment credentials are stored.
One-tap authentication
Effortless activation and authentication with just one tap of your card. With just a tap of the card on their mobile device, customers can access Strong Customer Authentication use scenarios—whether that’s account access, card activation, transaction authorization, or any other secure interaction with their banking services.
Enabling digital payments
Enable EMV payments within your own digital wallet. Works seamlessly with any payments scheme and with any OEM mobile technology, offering full token request service and token lifecycle management. Our trusted solutions for tokenized digital payments enable you to offer your customers the ability to pay any time.
Delivering digital wallets
The digital wallet has quickly become the touchstone for customers to interact with digital experiences—and payments are no exception. Currently, OEM wallets such as ApplePay lead the market. To take pole position, create your ownable digital wallet that customers will want to use every day.
Transaction authentication
Ensure every transaction your customers make is protected with authentication that perfectly balances convenience and security. Fraud comes in many forms, creating significant risks for both financial institutions and customers. Weak authentication practices remain a major vulnerability, leading to some of the most common types of digital fraud.
Phygital payment services management
Make sure your issuance program is set up for success from the very beginning, no matter which issuance channels you have chosen. With data management, onboarding configuration, end-to-end integration and reporting setup all covered, managed issuance supports you across your entire product and service portfolio.
Consolidated access
Customers today are more demanding than ever. They expect transparency, control, and choice, all while maintaining the highest level of security. For issuers, there’s an opportunity to enhance their mobile wallet with easy-to-use consumer tools to view and manage digital payment credentials—gaining top-of-wallet status in the process.
View enriched transaction data
Customers want to be able to see in-depth data about their purchases and account activity immediately. Detailed transaction information helps them easily monitor and manage their spending, reinforcing trust and dwell time within your mobile app.
Overview of cards and settings
Enable customers to quickly manage their payment cards and offer granular control of payment settings, such as setting or managing their PIN, or disabling access to ATM payments, so they can manage their own payment needs all in one place.
Push provisioning to one-click checkout
Reduce cart abandonment and eliminate customer friction with easy, simple, and safe consumer e-checkout, regardless of the payment card, channel, or device.
Secure customer onboarding and management
Create an onboarding process for your customers that’s smooth and secure and manage their experience through their entire relationship. From one portal, issuers can view, analyze, and manage onboarding and in-life relationships.
Fulfillment and unboxing experiences
Heighten your brand with a premium welcome experience through our extensive range of customizable packaging solutions, with categories designed to fit your brand and your customers’ lifestyles. Elevate your brand above competitors, allow messages to be heard by customers, and ensure your card remains top-of-wallet.
Trust and control of digital assets
The surging digital assets market is attracting a diverse range of individuals, all eager to build wealth and diversify their portfolios. Our solution is designed to empower FIs, offering customers the confidence to navigate the digital asset landscape. We deliver peace of mind for all digital asset holders, whether tech-savvy or crypto-curious.
Measure and offset environment impact
Help your customers to make more sustainable choices through full visibility of their purchases’ carbon impact. In addition, offer them the opportunity to make carbon contributions to a wide variety of eco-innovative climate projects, all within your existing digital estate.
FAQs Questions answered
We answer some of the top questions around phygital—the ones most commonly asked by our customers.
A phygital strategy blends the benefits of physical banking infrastructure – branches, real-world branding, payment cards – with the advantages of digital, such as easy-to-use websites and virtual payments. By doing so, today’s bank (traditional or neo) can offer a superlative customer experience at the most effective cost.
Phygital allows a bank to address all parts of the customer experience, without missing out on important brand-building touchpoints like branch visits or carrier opening (for neobanks) or frictionless payments via app (for traditional banks). This closes the gaps inherent to a physical-only or online-only model where customer and business pains tend to reside.
For traditional banks, it’s about making best use of digital tools to extend and deepen customer engagement, in a world where branch networks are in flux. For online-only “neobanks”, it’s about reaching into the real world of physical infrastructure to maintain a tactile presence, such as offering physical payment cards. Each approach lets a bank of either type broaden its customer appeal across its entire audience.
Cost pressures on traditional branch networks and ongoing costs of legacy IT are driving large banks to “go digital”. But there’s an opposing trend for neobanks: the need to have some physical presence for a larger brand footprint, without losing the cost advantages of an online-only model. These business challenges drive this emerging landcape.
There are four. Greater customer understanding through insightful combining of data points; broader business opportunities of being present on multiple channels; the ability to automate at scale; and the increased number of areas where competitive advantage can be won.
We’re seeing six major trends: the rise of “packaged” fintechs offering payments bundled with value adds such as mobile connectivity, the emergence of non-banking financial options for customers, the move of digital-only companies into the physical space, the need to merge services across traditional silos, the increasing number of device choices, and the effectiveness of APIs and cloud services in moving towards an agentic AI-powered issuance experience.
Self-service solutions enable customers to access services whenever and wherever they need. It opens up opportunities for service in more places, and the opportunity to tailor the experience to their needs. In a world where issuers are shrinking the retail and branch footprint, self-service is essential to building the branch of the future.
Convego is the collective name for an end-to-end set of solutions enabling banks to offer both physical banking services such as card issuance worldwide, plus a complementary set of digital services including virtual cards, secure transactions, and innovative payment solutions. Explore our solutions!
We have produced a range of resources to help you explore our phygital solutions. If you have any questions or would like to find out more, please get in touch using the contact form below – our team is here to support you!
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