Chapter 10 transforming LegaCy Banking appLiCations to Banking experienCe pLatforms The next-generation digital banking platform provides modular and services-based modules. As part of front office services we can include lean portal services, presentation services, user experience enhancement services, personalization services, and analytic services. Mid-office services typically include business service modules such as search services, social and collaboration services, workflow and orchestration services, campaigns, self-learning services, and marketing services. The back office includes data management services and content services. Front Office Services Presentation service components provide end-user interface and define the overall user experience. This category includes modular UI components such as portlets and widgets, model-view-controller (MVC) UI frameworks (such as Angular, ReactJS), mobile apps, and responsive web design. Presentation service components provide a seamless user experience across all channels and devices and across all user touch points. Lean portal services play a crucial role in offering an engaging and interactive experience to the end user. Lean portal services include UI components such as forms, dashboards, single-page applications (SPAs) wherein the entire applications consists of a single page, and microsites that provide an interactive experience to the end users. Personalization services provide contextual and personalized content based on user preferences, user behavior, and context (such as location). The platform should gather user behavioral insights and offer personalized search recommendations based on the insights. The analytic services and insights module aggregates user actions at all touch points and channels to provide integrated insights that can be used for personalization, prediction, and recommendation. The main categories of analytics are descriptive (that analyze historical data to draw insights), predictive (that look at trends and patterns to predict behavior), and prescriptive (that uses predictive analytics to suggest next steps). Fraud detection can be done based on insights and trends obtained from transaction data. Other uses of analytics are automatic customer segmentation, fraud detection, customer behavior analytics, campaign analytics, sentiment analysis, customer churn prediction, and such. User experience enhancement services include employing niche digital technologies such as VR, AR, and chatbots for business functions such as training, education, support, promotion, and such. Sensors and IoT devices are also used for real-time service monitoring and prediction. 271