Small Business Banking webinar, November 30, 2010 by David Singh


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Learn how to transform your Small Business Banking eChannel from a commodity to a unique differentiator through customer engagement. We will present several dramatic transformations from typical, stodgy online banking sites into true collaborative Web 2.0 financial portals. A Small Business Banking customer can now have an online toolset that delivers relevant and customized information and personalized financial guidance.

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Small Business Banking webinar, November 30, 2010 by David Singh

  1. 1. From Commodity to Differentiator: Transforming Your Small Business Banking Online ChannelDavid SinghVP of Strategic <br />
  2. 2. The Quiet Truth about Small Business Banking<br />All Online Offerings are Essentially the Same<br />The same look-and-feel<br />The same products<br />The same capabilities<br />The same Client Experience<br />But Small Business Banking is no longer a commoditized process with Clients simply looking for the best rate<br />They are seeking a Trusted Relationship with their Bank<br />
  3. 3. How can your online offering stand apart from the Competition?<br />
  4. 4. The Next-Generation SBB Online Offering<br />The Core Products are the Commodities<br />The Client Experience is the Differentiator<br />Be relevant to Client needs<br />Proactively provide guidance, advice, and coaching<br />Extend the personal relationship through a scalable channel<br />Offer a trusted relationship to Clients<br />Engage and Delight your Clients <br />Help Clients grow and prosper<br />
  5. 5. Today’s Agenda<br />How Can You Transform Your Online Client Experience?<br />Small Business Banking – The Current Situation<br />What Clients Want from the Online Channel<br />Six Capabilities to Quickly Differentiate Your Online Channel<br />Jumpstarting the Transformation of your Online Channel<br />
  6. 6. Who is Backbase?<br />We help banks transform their online channel into a unique and engaging Client Experience through technology and services<br />
  7. 7. We Address the Needs of All Stakeholders<br />Your Clients want a solution that is engaging, delightful, and relevant<br />Your Businesswants a solution that is adaptable, extensible, and unique<br />Your IT Team wants an unobtrusive, flexible, and modern solution that fits within the existing IT constraints<br />
  8. 8. We Have Worked with Many Organizations <br />
  9. 9. But this isn’t a vendor demo….<br />Email me<br />
  10. 10. Small Business Banking – The Current Situation<br />
  11. 11. J.D. Powers and Associates 2010 SBB Study<br />Satisfaction and loyalty of Clients continues to decline<br />Only 19% of Clients “definitely will” use their bank for additional products<br />Satisfaction is highest among Clients who feel they have a collaborative partnership with their bank<br />
  12. 12. Forrester Research – General SBB Attitudes<br />North American TechnographicsBanking Online Survey<br />
  13. 13. Forrester Research – SBB Online Activity<br />North American TechnographicsBanking Online Survey<br />
  14. 14. Forrester Research– Missed Opportunities<br />North American TechnographicsBanking Online Survey<br />
  15. 15. Forrester Research – The Blunt Facts<br />North American TechnographicsBanking Online Survey<br />
  16. 16. The Root Cause – An Inside-Out Approach<br />A One-Size-Fits-All Solution<br />Available Technology focused simply on web-enabling banking systems<br />
  17. 17. The Solution – An Outside-In Approach<br />A My-Size-Fits-Me Solution<br />Focus on your Clients’ Needs and your Business Objectives…<br />and customer-enableyour systems<br />
  18. 18. What Clients Want from the Online Channel<br />
  19. 19. Mark, CEO of a High Tech Start-up<br />“I chose Bank of America since I have my personal account with them.”<br />“My bank doesn’t give me the information that I need at my fingertips.”<br />“I understand that I’m not a $100M client, but can I get a little personal attention when I am in need?”<br />“I expect to be successful, and when that happens, I know that my bank did nothing to earn my continued business.”<br />
  20. 20. Rebecca, Owner of a Cupcake Bakery<br />“I chose HSBC because my father is a HSBC SBB client.”<br />“I have made a risky career change, and I wish my bank could help me make the important decisions.”<br />“I get no financial guidance from my bank. I get it from my Dad or Google.”<br />
  21. 21. Kelly, Owner of a Fashion Boutique<br />“I bank with JP Morgan Chase since I have my personal account with them.”<br />“I can tell how much my bank values me when I have a question and try to call customer service.”<br />“I do my financial planning in other tools, not on my banking site.”<br />“I have no loyalty to my bank, because they don’t know who I am.”<br />
  22. 22. Ryan, Owner of a Home Renovation Firm<br />“I selected Bank of the West due to a personal recommendation.”<br />“I am not an Accountant, and I don’t feel that my bank provides me with any help or assistance.”<br />“I don’t know what my bank has to offer to make me successful.”<br />
  23. 23. So Why Can’t My Bank…<br />
  24. 24. …Provide a My-Size-Fits-Me Experience?<br />
  25. 25. …..Put Me in Control?<br />
  26. 26. …Easily Help Me Find What I Need?<br />
  27. 27. …be Simple to Use?<br />
  28. 28. …Offer Unparalleled Personal Service?<br />
  29. 29. …be Fun and Engaging?<br />
  30. 30. It Is Possible! <br />
  31. 31. Six Capabilities to Quickly Differentiate Your Online Channel<br />
  32. 32. 1. Personalized Client Dashboard<br />
  33. 33.
  34. 34. Personalized Client Dashboard<br />Information at the Clients’ Fingertips:<br />Provide a single snapshot view of all of the important information that your Client needs to know<br />Custom Tools, Premium Services, and Upselling Messages: <br />Push out relevant information to the Client by leveraging what you already know about them<br />Put the Client in Control: <br />Allow your Client to further tailor their Dashboard to meet their needs (e.g. new tabs, new tools, preferred layout, etc.)<br />A Rich Web 2.0 Experience: <br />Engage and Delight your Customers with a compelling experience (e.g. Single Page Interface, Drag and Drop, Animations, etc.)<br />
  35. 35. 2. SBB Finance Management Tools<br />
  36. 36.
  37. 37. SBB Finance Management Tools<br />Keep Your Clients on Your Site: <br />Why let your Clients go to a 3rd Party Solution when you can provide them with a one-stop-shop?<br />Provide Mutually-Beneficial Guidance: <br />Leverage FM Tools to upsell and cross-sell Clients to other products and solutions<br />Learn from Your Clients: <br />Examine Client behavior and trends to understand their concerns and issues<br />Offer Premium Services: <br />Offer additional tools at a premium cost <br />
  38. 38. 3. Personal Online Advisor<br />
  39. 39.
  40. 40. Personal Online Advisor<br />Leverage Limited Resources: <br />Relationship Management isn’t just for your largest Clients – Utilize a Small Number of Resources to provide on-demand assistance through the web for everyone<br />Availability Based Upon Segmentation: <br />Initially roll-out the offering based upon entitlements of the Client and expand the capability as you grow<br />Build the Personal Relationship: <br />Let your Clients see how you value their relationship and what they can expect as they grow<br />
  41. 41. 4. Relevant Guidance and Advice<br />
  42. 42.
  43. 43. Relevant Guidance and Advice<br />Personalization: <br />Utilize the information that you know about your Client to proactively ascertain their needs and push out relevant content <br />Subscriptions: <br />Allow your Clients to subscribe to topics of interest to them<br />Faceted Search and Share: <br />Allow your Client to easily search and view relevant articles and share that information with others<br />Integrate 3rd Party Information:<br />Leverage and incorporate third party guidance and advice to provide your Client with the information that they need<br />
  44. 44. 5. Live Assistance<br />
  45. 45. Live Assistance<br />
  46. 46. Live Assistance<br />On-Demand Support:<br />Bring the human element back into the online channel to build a tighter relationship with your Client<br />Integrate Click-to-Call and Click-to-Chat with Co-Browsing: <br />Allow Support Agents to view the Customer’s web session and direct them visually to the right answers and information<br />
  47. 47. 6. Integrated Mobile Experience<br />
  48. 48.
  49. 49. Integrated Mobile Experience<br />Extend the Experience with Additional Touch Points of Value: <br />Deliver a useful and user-friendly mobile experience to increase the touch points between you and your Client<br />Provide a Consistent Cross-Platform Experience: <br />Ensure that your mobile capabilities match your desktop browser capabilities<br />Build Once – Deploy on Multiple Platforms:<br />Have a single project effort to develop capabilities that are portable and platform-agnostic <br />
  50. 50. Six Differentiators for a WOW Client Experience<br />Personalized Client Dashboard<br />SBB Finance Management Tools<br />Personal Online Advisor<br />Relevant Guidance and Advice<br />Live Assistance<br />Integrated Mobile Experience<br />“ This sounds great, but how can I easily get this implemented within my organization?”<br />
  51. 51. This is where<br />Backbase comes<br />into play<br />
  52. 52. Backbase Next-Generation Portal<br />Our solution allows you to add these capabilities on top of your existing systems without requiring any backend re-architecting. <br />With Backbase, you don’t need to modify your existing core banking systems – we utilize what you currently have. <br />We place a loosely-coupled, rich presentation layer on top of your current systems.<br />We allow you to provide these innovative capabilities quickly and easily within your current environment. <br />
  53. 53. Jumpstarting the Transformation of Your Online Channel<br />
  54. 54. The Potential Pitfalls<br />Lack of Organizational Ambition<br />Lack of Focus on the Client <br />Lack of Business Empowerment<br />Lack of Executive Support<br />Lack of IT Belief <br />
  55. 55. Cookbook for Quick Success<br />Assess your current offering to identify the deficiencies between your current state and your desired objectives<br />Perform user experience research on a sampling of your Clients to understand what they need from you<br />Construct a prototype to paint a vision of what is possible <br />Build internal consensus and support with the Executive Team<br />Win over IT detractors by reusing your existing assets and leveraging a loosely-coupled rich presentation layer<br />Continuously analyze and optimize to always stay on top<br />
  56. 56. About Backbase<br />
  57. 57. We Deliver Portal Solutions for Financial Services<br />
  58. 58. Our User-Centered Approach is Unique<br /><ul><li>Like a major design agency, we focus on understanding the needs of your Clients and the needs of your Businessto define the best possible user experience</li></ul>DISCOVERY RESEARCH CONCEPT PROTOTYPE EVALUATE<br />
  59. 59. Our Specialized Technology is Unique<br />Gartner calls Backbase a “Portal-less Portal” <br />Our solution enables banks to quickly implement a rich presentation layer on top of existing backend systems <br />Gartner states that our approach will surpass the traditional portal approach by the year 2015<br />
  60. 60. We Work Globally<br />
  61. 61. The Industry Recognizes Us as a Top Innovator<br />
  62. 62. And We Help Top Organizations Innovate <br />FINANCIALS<br />TELECOM<br />GOVERNMENT<br />HIGH TECH<br />
  63. 63. Our Goal<br />Transform your <br />online channel<br />into a Customer Engagement Platform<br />
  64. 64. Our Vision – Outside-In Customer Engagement<br />OUTSIDE-IN<br />APPROACH<br />Customer<br />Engagement<br />CUSTOMER<br />EXPERIENCE<br />WEB <br />ENABLEMENT<br />INTERNAL<br />SYSTEMS AND PLATFORMS<br />INSIDE-OUT<br />APPROACH<br />
  65. 65. Our Vision – Unify Disparate Systems in the UX Layer<br />Branch<br />Front-end<br />Public<br />Website<br />Online<br />Banking<br />Call Center<br />Front-end<br />Customer Engagement Portal<br />Advisory Tools<br />Business Rules<br />Simulation, Calculators, …<br />1:1 customer treatment<br />(targeting, segmentation)<br />Reusable <br />Widgets<br />Content<br />Customer Profile<br />Consistent across Channels<br />collect customer preferences<br />(implicit & explicit)<br />Core Banking<br />Other Back-end Functions<br />3rd Party Functions<br />Transactional<br />CRM, …<br />PFM, …<br />
  66. 66. Our Vision – Provide a Multi-Channel Experience<br />
  67. 67. Customer<br />In Control<br />Superior<br />Experience<br />Personalization<br />& Targeting<br />Any Place<br />Any Device<br />Cross-Channel<br />Integration<br />Social<br />Integration<br />Easy Portal<br />Management<br />Interactive Forms<br />& Advisory tools<br />Customer Engagement Platform<br />Our Vision – Integrated Customer Experience Platform<br />Web Site 1.0<br />Core Banking Systems & Processes<br />
  68. 68. Our Offer to You<br />Let Us Help You with the Transformation:<br />Let’s Do an Assessment of Your Online Offering<br />Let’s understand your strategic Business Objectives<br />Let’s understand your Client Needs<br />Let’s build a Concept Car to show your organization what is possible<br />Let’s transform your Online Offering from a Commodity to a Differentiator<br />
  69. 69. Thank You!<br />WWW.BACKBASE.COM<br />REQUEST@BACKBASE.COM<br />SAN FRANCISCO: +1 866 800 8996<br />AMSTERDAM: +31 (0)20 465 8888<br />