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Accenture: Everyday Bank Infographic

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Digital technology is driving the customer experience revolution, banks can fill a new strategic role—that of the Everyday Bank—positioned at the center of customers’ everyday lives. Learn more: …

Digital technology is driving the customer experience revolution, banks can fill a new strategic role—that of the Everyday Bank—positioned at the center of customers’ everyday lives. Learn more: http://www.accenture.com/everydaybank

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  • 1. Banks now have a oncein-a-lifetime opportunity to reinvent themselves as The Everyday Bank 50% Digital is driving a customer experience revolution Companies like Google, Amazon, Facebook and Apple have reframed customer behaviors and attitudes: Banks can fill a new strategic role, designed for the digital era 250% 80% Provide an intelligent and meaningful experience Drive up to increase in customer interactions will go 5-10 minutes out of their way for a better price prefer online ratings to advice from store employees Human touch Customer Interactions 64% see shopping as an experience Wearable indispensable Everyday Bank Ecosystem Model Omni-channel/ omni-present Everyday Traditional Bank Bank Build a digital village, leveraging a nucleus of partners/providers • SMEs, merchants, suppliers, etc. Position bank at the center of customers’ everyday lives • Ready to fulfill all life needs, FS & non-FS, as they arise Bundle dynamically-priced experiences in real-time • Create compelling—and “sticky”—customer experience Ecosystem creates new roles and new opportunities for banks Facilitate Access to FS and non-FS partners Ecosystem benefits all stakeholders Aggregate Value through real-time, dynamically-priced offerings Customers Better experience, more engaged Provide Advice Banks with specific, targeted buying suggestions Deeper customer relationships, new profit pools Ecosystem partners Higher sales volume, access to broader set of customers Other players (retailers, telcos, etc.) Opportunity to bundle, new customer pools Banks must tune their “engine” for the digital age Develop a platform—architecture, technology, factories—for assembling and launching new context-based offerings • • • • • Real-time Able to price dynamically Open to 3rd-party components Secure and agile Low cost to serve Highly automated front and back office processes will bring speed, efficiency and scalability up to $ up to 80% 35% reduced backoffice effort up to up to reduced time to market increased operating income reduced managed applications portfolio 50% 70% A mission-critical decision for banks With up to 30 percentage points of revenues at risk, banks who become an Everyday Bank can expect an overall difference of 50 percentage points in operating income versus those who do not. Revenues at Risk Efficiency Gains + Additional Revenue © 2014 Accenture All rights reserved. = 50pp Accenture can help banks navigate this complex journey with a unique set of solutions— skills, assets and capabilities— honed through our own transformation to Digital. Contact your Client Account Lead to start the conversation. To learn more visit: www.accenture.com/ everydaybank