2.3.7. Omni-Channel (O-C): Disney Company and Starbucks

The O-C approach can be seen as the evolution of the multi-channel and having its origins in the retail industry (Rosman 2015). According to the multi-channel view, the customer gets a diverse experience across channels and acts as an integrator of information, whereas the O-C view focuses on bridging the gaps between different channels with the aim to provide a consistent and seamless customer experience (Rosman 2015; Saghiri et al. 2017). Based on this, three key principles or factors of O-C can be defined as follows: (1) seamless interaction between the channels (i.e., seamless transition to a second channel, enabling continuation of what was already started in the first channel), (2) optimization across channels (i.e., designing tasks and functionalities for different devices adapted to their unique context and strengths), and (3) consistent experience across channels (e.g., presentation and language or that task models are found consistent over different devices) (see McKinney 2014; Rosman 2015).

It should be noted in the first place that the concept of the O-C is in fact an organizational strategy. The O-C concept is not limited to banks and financial institutions, but it can be applied to any business dealing with customers (Figure 13).

**Figure 13.** The relationship of communication channels in the Industry Revolution. Source: Own contribution of the authors.

According to Figure 10, in Industry 4.0, where human resources face plenty of new technologies, sensitivity, creativity, and communication in enterprises should be improved (Lee et al. 2018). Industry 4.0 is based on the unique involvement of human resources in the use of technology. All previous revolutions were limited only to increasing efficiency through the use of modern work methods and technical inventions. Currently, ensuring comprehensive integration of the human and technological sphere requires profound changes in the social sphere—also among employees of enterprises (Jasi ´nska and Jasi ´nski 2019). The following are the types of communication channels simultaneously with the developments of the Industry Revolution:

**Single Channel:** The most primitive way of connecting businesses with customers has been around for centuries. In this way, customers are connected to the business in only one way, mainly through physical communication (shop, bank branch, insurance office, etc.).

**Multi-Channel:** In this way, businesses can communicate with customers in several ways or ports, but each of these ports is completely independent of the other ports. The emergence of electronic tools such as phones, mobile phones, and computers has greatly helped to expand this way of communication, as most businesses today use the multi-channel method to communicate with their customers. In the case of banks and financial institutions, the advent of systems such as ATMs, telephone banks, internet banking, mobile banking, etc., has practically led to the relationship of customers with banks in a multi-channel manner.

**Cross-Channel:** This is a higher level of multi-channel mode. As stated in the multi-channel method, each communication port is completely independent of the other ports and virtually a single client is seen as a separate and separate identity in each port. In contrast, in the cross-channel approach, each customer has a single identity that is recognized in all ports with the same identity. It should be noted that in the cross-channel method, communication ports are still independent of each other.

**Omni-Channel:** In this case, not only does the customer have a single identity across all ports, but virtually all ports see it as a unified system. In the O-C style, customer communication is performed seamlessly, anytime, anywhere on all devices. In this way, the customer and the activities he/she does are central to the way the services are provided to him/her. Accordingly, the service to each customer is personalized based on the activities he has done on all ports. As a result, it not only responds to the customer's explicit requests, but also their interests and implied needs.

The most important difference between multi-channel and O-C is that multi-channel puts the brand at the center of the strategy and sends a similar message to customers on all communication channels. However, omni puts the customer channel at the center of the strategy. In this way, the message that is to be sent to the customer changes and will be appropriate to the way the customer interacts with other communication channels. So, the five main features of the O-C in Banking 4.0 are:


Technically, in order for an O-C-based architecture to meet these needs, it needs to take advantage of new technologies such as responsive design. Big data, NoSQL database, data mining, data analysis, etc., which emerged in Industry 4.0. For instance, a NoSQL (originally referring to "non SQL" or "non-relational") database provides a mechanism for storage and retrieval of data that is modeled in means other than the tabular relations used in relational databases.


#### *Int. J. Financial Stud.* **2020**, *8*, 32

and prepares the coffee by the time the user arrives. Users can also view the new coffee list in the menu and be informed of the song played in each branch (Starbuck works with many companies. Playing all kinds of music and having a lot of branches around the world has made customers understand different pleasures. So, customers can choose their Starbucks according to the music played). Surely every user after experiencing such features will become a permanent customer of the brand.
