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Home Hunter

Home Hunter
by Paul Littlefair, GM IT, Kiwibank at the Australian CIO Summit 2014

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Home Hunter Home Hunter Presentation Transcript

  • Home Hunter Paul Littlefair, GM IT, Kiwibank
  • Online Strategy GOALS: • Transforming online from transactional to a full sales & service channel • Rich, immersive digitised experiences for joining and adding products • Better servicing delegators through ORM Transactional – Sales & Service GOALS: • Migrate customers to self-service channels •Automate high cost/high volume processes e.g. Credit risk assessment • Migrate postal communications to digital Process Simplification STRATEGIC MEASURES • 10% join interactions Retail to Online • 90% acquire interactions Retail to Online • 90% use interactions from CC to Online • 90% inform interactions CC to Online • 90% postal comms to digital GOALS: • Be digitally relevant and where our customers are – e.g. device agnostic; personalisation; data sharing; data integration • Reduce cost to service customers • Deliver digital as part of omni- channel experience • Regain innovation leadership Be where our customers are STRATEGIC MEASURES • Digital first design • Integration with third party data (APIs) • Supports relationship depth • Online channels of choice for customers STRATEGIC MEASURES • 1% annual increase of customers that are main bank •Relationship depth (products held) improved from • Grow market share by 1% p.a. • Online sales conversions
  • Reinventing banking through digital 1 - ORM
  • Reinventing home-buying - vision 2011
  • Scenario 4: Dan & Emma find a house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
  • Scenario 4: Dan & Emma find a house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
  • Scenario 4: Dan & Emma find a house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
  • Scenario 4: Dan & Emma find a house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
  • The Brief 1. Fundamentally reinvent home lending 2. Create a proposition and positioning that allows Kiwibank to own the territory for the ‘new way’ of obtaining home financing 3. Deliver a brand proof point that clearly demonstrates Kiwibank’s innovation leadership and challenger status
  • A customer’s perspective 1. Daunting
  • A customer’s perspective 1. Daunting 83% of Home Loans researched Online...yet only ~20% complete online application & ~3% get approved
  • Home buying journey Save Deposit Research Financing Browse Houses Got Deposit Research Process Get Pre-Approved Go Open Home Get Advice Get Approved Shortlist Houses Research House Make an Offer Settle Draw Down Move In Shop Rate Select Bank
  • Where to start?
  • Storm clouds ahead… DAUNTING WHERE TO START? INCOMPLETE INFORMATION NO TOTAL PICTURE OF COST WHO TO TURN TO FOR ADVICE? HOW MUCH TO OFFER? UNCOMFORTABLE FINANCE DISCUSSION
  • Home Hunter 1. Answering the financing question upfront by Pre-approving NZ (for ALL New Zealanders) 2. Comprehensive property search 3. Rich property data for an informed choice 4. See what you can really afford 5. An expert on hand to guide you at every step 6. Empowered to make your best offer
  • Approach & Deliverables Mon Tue Wed Thu Fri Outputs User Story UI Framework Back-end database Credit Model for Pre- Approval Sign-up & Pre- approval (Working) Open Home Planner (Working) Property Search (Working) Talk to an Expert - ORM & MMM (Working) Home Inspection (Working) Buyers Report (Working) Go To Market Strategy Marketing Plan
  • Prototype
  • A Business Perspective 1. Increased Lead Generation
  • Increased Lead Generation Save Deposit Research Financing Browse Houses Got Deposit Research Process Get Pre-Approved Go Open Home Get Advice Get Approved Shortlist Houses Research House Make an Offer Settle Draw Down Move In Shop Rate Select Bank
  • A Business Perspective 1. Increased Lead Generation 2. Pipeline Visibility
  • Pipeline Visibility Save Deposit Research Financing Browse Houses Got Deposit Research Process Get Pre-Approved Go Open Home Get Advice Get Approved Shortlist Houses Research House Make an Offer Settle Draw Down Move In Shop Rate Select Bank
  • A Business Perspective 1. Increased Lead Generation 2. Pipeline Visibility 3. Engaged through out the customer journey
  • A Business Perspective 1. Increased Lead Generation 2. Pipeline Visibility 3. Engaged through out the customer journey 4. Deeper Relationships
  • Architecture (roughly…) Amazon KB Middleware Loan applications Activate SDT Core B2K Data Insight RealEstate.co.nz Listings Data used for HH applications Propertyfile Property Enhanced property listings KiwibankHH API User Councils, LINZ etc AVM Enhanced Listings
  • Home Hunter demo
  • Results
  • Home Hunter Web: 35K App: 15K 50,335 sessions
  • Home Hunter Avg session time Web: 1:58 min App: 6:23 min 50,335 sessions
  • Home Hunter App type Android: 45% IOS: 55% App average session time 6:23 min Web average session time 1:58 min 50,335 sessions
  • Home Hunter – NZ’s top property app
  • Home Hunter Facebook likes 583 Android: 45% IOS: 55% App average session time 6:23 min Web average session time 1:58 min 50,335 sessions
  • Home Hunter Pre-approvals Web: 121 App: 267 388 Android: 45% IOS: 55% App average session time 6:23 min Web average session time 1:58 min FB likes 583 50,335 sessions
  • Home Hunter Dollars in pipe Android: 45% IOS: 55% $156m App average session time 6:23 min Web average session time 1:58 min388 pre- approvals FB likes 583 50,335 sessions
  • Home Hunter - pipeline $16.5m settled!!!
  • Home Hunter Awards Android: 45% IOS: 55% Canstar Innovation Winner App average session time 6:23 min Web average session time 1:58 min388 pre- approvals FB likes 583 Wgtn Gold Finalist GSM Finalist $156m in pipeline 50,335 sessions 5 to drawdown
  • Home Hunter Android: 45% IOS: 55% App average session time 6:23 min Web average session time 1:58 min388 pre- approvals FB likes 583 $156m in pipeline 50,335 sessions Canstar Innovation Winner Awesome! 5 to drawdown