Online Account Opening

ACCOUNT
OPENING
DISCOVERY RECAP
1© CONFIDENTIALExperience Design + InnovationCommercial Bank Capital One 2017Experience Design + InnovationCommercial Bank

AGENDA
10:00 - 10:30
10:30 - 11:00
11:00 - 11:20
11:20 - 11:30
11:30 - 12:00
12:00 - 12:30
12:30 - 1:00
1:00 - 1:45
1:45 - 1:55
1:55 - 2:00
10:00 - 10:05
(5 minutes)
WELCOME
2
Warm-Up
Client Research
Employee Research
Break
Current State Journey Walkthrough
Group Activity
Lunch
Group Activity
Timeline / Next Steps
Wrap-Up
DUE TO OUR TIGHT SCHEDULE
• Weaskthatyoupleaserefrainfromusinglaptopsor
other devices
•We may ask to “parking lot” topics that come up to
make sure we stay on-track.
© CONFIDENTIALExperience Design + InnovationCommercial Bank Capital One 2017
ACCOUNT OPENING WORKSHOP
Experience Design + InnovationCommercial Bank

Introduce (or re-introduce)
yourself and tell us what
your go-to boredom app is
on your phone or tablet.
10:05 - 10:30
(25 minutes)
3© CONFIDENTIALExperience Design + InnovationCommercial Bank Capital One 2017
WARM UP

Design and Innovation from Accenture Interactive 4
PROJECT OBJECTIVE
Reimagine the deposit account opening
experience for existing commercial real estate
customers.
© CONFIDENTIALExperience Design + InnovationCommercial Bank Capital One 2017Experience Design + InnovationCommercial Bank

Design and Innovation from Accenture Interactive © CONFIDENTIAL JANUARY 201 7 5
Total Participants: 34 across 9 locations
NY, MA, LA & TX
Capital One Participants: 16 across 3
oﬃces visited
Client Participants: 18 across 6 oﬃces
visited
Strangest food eaten on the road:
Alligator
RESEARCH RECAP
FirstService

Design and Innovation from Accenture Interactive © CONFIDENTIAL JANUARY 2017
10:30 - 11:00
(30 minutes)
CLIENT
RESEARCH
6
WHO WE MET WITH
Boston Financial (Boston, MA)
• 1 representative
Greystar (Dallas, TX)
• 3 representatives
Sentinel (New York, NY)
C&C (New York, NY)
AKAM (New York, NY)
FirstService (New York, NY)

WHAT WE SOUGHT TO LEARN
CLIENT RESEARCH
• Their perception of the process (steps, likes, dislikes)
• What they’re doing immediately before and a!er they open an account
• How they work internally (systems, communication, etc.)
• Their willingness to use a self-serve solution
• How they compare the account opening process among the banks they
work with
CLIENT RESEARCH

HOW WE DID IT
CLIENT RESEARCH
• Q&A style interviews
• Card sorting
• Verbalconcepttesting(when
applicable)
• Use of photography was very limited
to keep the clients comfortable
C&C
CLIENT RESEARCH

WHAT WE UNCOVERED
Clients are not thrilled with the account
opening process with any of their banks, but
they think Capital One does a better job than
most of them.
CLIENT RESEARCHCLIENT RESEARCH

Design and Innovation from Accenture Interactive © CONFIDENTIAL JAN 2016 10
CLIENT RESEARCH
THEMES
•SPEED & EFFORT
•THE HUMAN EXPERIENCE
•GATHERING PERSONAL INFO
•REPETITIVE INFORMATION
•ACCOUNT NUMBER ROADBLOCK
•KEEPING TRACK
•ACCOUNT SETUP CONFIDENCE
Experience Design + InnovationCommercial Bank Experience Design + InnovationCommercial Bank

SPEED & EFFORT
CLIENT RESEARCH THEMES
HOW CLIENTS MEASURE BANKS
Clients identiﬁed the speed of account
opening and the eﬀort involved in
providing documentation to be the
measure of a successful process.
“If it’s hard to open an
account, we just change
banks”
-Susan, C&C
CLIENT RESEARCH THEMESCLIENT RESEARCH THEMES

SPEED & EFFORT
HOW CLIENTS MEASURE BANKS
• Boston Financial indicated that they work with 12 other banks whom are
slower than Capital One and require more paperwork follow-up
• Sentinel currently feels that Wells Fargo is the easiest because they require
the least paperwork.

THE HUMAN EXPERIENCE
STILL IMPORTANT, EVEN IN A DIGITAL WORLD
Most clients refer to their banks by their
main point-of-contact there. They think of
them as an extension of their own team,
and expect that level of service and
availability from all of their banks.
“If I am sending something
to a portal I don’t know
where it’s going and if
someone is looking at it.”
-Audrey, Sentinel

THE HUMAN EXPERIENCE
STILL IMPORTANT, EVEN IN A DIGITAL WORLD
• Greystar feels that their other banks lack the “personal touch” that
Capital One provides. They would love both the convenience of a digital
solution and the availability of the CSS.
• C&C believes that human contact is an intricate part of the relationship
and valuable complement to an online system.
• FirstService feels that Danielle and Nadia know them and their needs and
can catch things that a computer never could.
• Sentinel doesn’t call Capital One, they call Gabriela. “Gabriela does a
great job”.

GATHERING PERSONAL INFO
THEIR BIGGEST UNMET CHALLENGE
Clients experience major delays and
stress when they need to gather signers’
personal information and physical
signatures. It’s an issue that creates
barriers due to the sensitive nature of the
information and the logistics of meeting
with people inside and outside of their
organization.
“I have to beg, borrow,
and steal to get IDs”
-Kim, Sentinel

GATHERING PERSONAL INFO
THEIR BIGGEST UNMET CHALLENGE
• Boston Financial has experienced a 2-3 week delay when leaders travel
and signatures cannot be obtained
• Greystar has diﬃculty obtaining signer personal information, as signers
are uncomfortable not being able to share it directly with the bank
• FirstService serves regions where their clients want to be signers and are
not under a MSA. In these regions, FirstService seeks out banks with the
least requirements or those that will allow them to assume the KYC risk
of their clients.
© CONFIDENTIALExperience Design + InnovationCommercial Bank Capital One 2017Experience Design + InnovationCommercial Bank Experience Design + InnovationCommercial Bank

REPETITIVE INFORMATION
THEY EXPECT THE BANK TO ALREADY KNOW
Clients indicate that they spend more
time than necessary providing the same
information repeatedly. This problem is
multiplied by the number of accounts a
client may need to open at one time.
“If I could just select an
account template and
change the entity and
legal name, that would
be golden.
-C&C
© CONFIDENTIALExperience Design + InnovationCommercial Bank Capital One 2017Experience Design + InnovationCommercial Bank Experience Design + InnovationCommercial Bank

REPETITIVE INFORMATION
THEY EXPECT THE BANK TO ALREADY KNOW
• Sentinel said the process would be much easier for them if they
could just select signers from a list, rather than ﬁll out their SSN and
other details on every Exhibit C.
• Greystar thought it would be helpful if they could have one digital
template where minor changes could be made for multiple
submissions with similar information.
• Akam said their biggest problem is having to re-key the same
information during the submission process for each individual
account.

ACCOUNT NUMBER ROADBLOCK
MORE PRESSING THAN THE ACCOUNT OPENING ITSELF
WelearnedthatCREclientso!enhavea
roadblock completing their own
paperwork until they receive account
numbers from Capital One. Receiving
account numbers is often a more pressing
matter than opening the account itself.
“The ultimate goal is
getting to the account
number.”
-Susan, C&C

ACCOUNT NUMBER ROADBLOCK
MORE PRESSING THAN THE ACCOUNT OPENING ITSELF
• Greystar needs the account numbers quickly to make a good ﬁrst
impression with their own clients. BoA provides them with unactivated
account numbers quickly, which they perceive as an advantage.
• Sentinel said having an account number early would help during rushed
situations, even if the account is not fully active.
CLIENT RESEARCH THEMESCLIENT RESEARCH THEMESCLIENT RESEARCH THEMES

KEEPING TRACK
A PHONE CALL AWAY, BUT COULD BE BETTER.
Clients indicate that keeping track of
requirements and the status of account
openings is resolved by calling their
contact at Capital One. However, they
indicated that alternative methods of
tracking would be helpful.
“We usually contact
Capital One ﬁrst to get
information on new
requirements.”
-Akam

KEEPING TRACK
A PHONE CALL AWAY, BUT COULD BE BETTER.
• C&C indicated that an email confirmation of account opening would be
helpful. Right now it is just verbal, which can be difficult to track when
multiple accounts are being opened.
• Akam said that receiving notifications whenever requirements change
would definitely speed up their process.

ACCOUNT SETUP CONFIDENCE
DOUBLE CHECKING TAKES A LOT OF TIME
Some clients perform their own testing
on a newly opened account just after it is
opened to make sure the correct features
were set up and the account is functional.
This concern stems from issues with other
banks, not necessarily Capital One.
“We need wires on the
accounts. Banks often
forget.”
-Jim, Boston Financial

ACCOUNT SETUP CONFIDENCE
DOUBLE CHECKING TAKES A LOT OF TIME
• Boston Financial has a process in place to perform test transactions on
their new accounts once they are opened.
• C&C spends time checking that certain features have been implemented
correctly.
• Akam spends time making sure the account actually exists in the Intellix
system.

INSIGHTS
CLIENT RESEARCH
• Clients were receptive to using a self-serve tool as long as it benefits
them in terms of speed or effort, however, many (mostly the senior
leaders) are not comfortable with a fully digital transaction platform at
this time.
• Many clients would perceive the process as faster if they could receive
account numbers instantly.
• Streamlining or reducing the effort of gathering personal info and
signatures would help our clients internally and give Capital One a
competitive advantage.
CLIENT RESEARCH THEMESCLIENT RESEARCH

CLIENT RESEARCH
• In the interim, an overall reduction of redundant information ﬁelds in
addition to a cleanup of the design of forms (ex: signature forms and
Exhibit C forms) could provide clients some immediate relief before a
digital solution comes into the picture.
• Finding a way to get unactivated account numbers to clients early on –
even if it means sending them a book of numbers they can use on their
own – could help them feel as if the process is already faster.
QUICK WINS

A POTENTIAL (+VETTED) FUTURE
CLIENT RESEARCH
SUBMISSION PREP
DOCUMENT
VALIDATION
ACCOUNT
CREATION
ACCOUNT
BUILDING
ACCOUNT MANAGEMENT
Easier document and
signature gathering
Archive of client
account opening
documents
Templated and
simpliﬁed request
process
Human and digital conﬁrmation
of receipt and status updates

Design and Innovation from Accenture Interactive © CONFIDENTIAL JAN 2016 28
CLIENT RESEARCH
Q&A
Until 11:00 (5minutes)

11:00 - 11:20
(20 minutes)
EMPLOYEE
RESEARCH
29
WHO WE MET WITH
CSS (New York, NY)
• 6 team members
CFC (Melville, NY)
• 3 team members
TM Implementation (New Orleans, LA)
• 3 team members
Stakeholders
• 4 participants

WHAT WE SOUGHT TO LEARN
EMPLOYEE RESEARCH
• The current process as it as actually performed and understanding if
(and how) it differs from the intended process.
• The level of effort required to handle tasks and any specific pain points
that employees experience.
• Workarounds or “hacks” leveraged to get the job done effectively.
• Trends or pain points across the different hand-off points between
teams and/or clients.
CLIENT RESEARCH THEMESEMPLOYEE RESEARCH

HOW WE DID IT
EMPLOYEE RESEARCH
• Process Walkthrough
• Shadowing
• One-on-One Conversational Interview
• Card Sorting & Sketching activities

WHAT WE UNCOVERED
EMPLOYEE RESEARCH
Employees are faced with similar information
maintenance pain points, causing them to
assume roles that keep them from being as
eﬃcient as they would like to be.

Design and Innovation from Accenture Interactive © CONFIDENTIAL JAN 2016 33Experience Design + InnovationCommercial Bank
EMPLOYEE RESEARCH
THEMES
ROLES
•DOCUMENT SORTER
•SYSTEM BRIDGER
•DOCUMENT ARCHIVER
•REQUIREMENT ARCHIVIST
•DATA DETECTIVE

Every team prints out documents to
physically write on and/or sort into stacks
in order to verify and validate the data
they receive.
DOCUMENT SORTER
EMPLOYEE RESEARCH ROLES
CLIENT RESEARCH THEMESEMPLOYEE RESEARCH ROLES

• Clients provide documents in any order they like
• Time required to print and organize signiﬁcantly slows down the
process
• Computer performance issues can restrict printing, essentially
restricting the ability to sort.
DOCUMENT SORTER

SYSTEM BRIDGER
Employees spend an enormous amount
of time manually bridging the gaps
between systems that do not talk to or
share information with each other.

EMPLOYEE RESEARCH THEMES
• A lot of time spent checking for mistakes caused by manual re-
entry from Service Cloud to TouchPoint to Intellix.
• Changes are not reﬂected on other systems; if data is updated in
Intellix , Impacs will not know about it.
• Employees must plan in advance when new information will
require a 24 hour sync to be visible in another system.
SYSTEM BRIDGER

DOCUMENT ARCHIVIST
Documents are archived multiple times,
at diﬀerent points. The process of
sending to a third-party requires
substantial manual up-front eﬀort,
tracking the status of archiving can last
weeks, and when all is said and done, the
archived document may already be
outdated.

• A lot of time is spent trying to check that documents have
been uploaded to SeeDocs by physically searching for them
weeks a!er they have been sent out.
• Employees spend time organizing and labeling documents
into sections, but the resulting digital scans do not reﬂect the
labeling they provide, making it harder to retrieve information
later.
• Sometimes the documents do not get archived. It’s the
responsibility of the employee to follow-up and make sure.
DOCUMENT ARCHIVIST

REQUIREMENT CONVEYER
Employees indicate that a primary reason
a client will reach out to them is to ask
about requirements prior to sending
documents to them.

• Employees spend a lot of time speaking to clients about
requirements that may have changed since their last
account opening.
• There is a lot of back and forth when trying to explain to a
client how to ﬁll in forms that have been sent to them.
• Employees must keep track of changing requirements via
email newsletters and then pass that information along to
their clients.
REQUIREMENT CONVEYER

DATA DETECTIVE
Throughout the journey of account
opening, information becomes more
diﬃcult to piece together as a result of
re-scanned hand-written documents,
multiple case instances, and shortcuts.

• Incorrect information is entered in order to bypass system
requirements, which then have to be corrected by CFC.
Resulting in the CFC always doing their own extra
validation step.
• A variety of account details may exist in emails or a
number of diﬀerent request tools at any given time. The
case ﬁle is not additive as it moves through the process,
rather there are various versions of the same case
pertaining to each team’s role.
DATA DETECTIVE

INSIGHTS
EMPLOYEE RESEARCH
• Finding a way create consistency in the way clients provide documents
could resolve both the need for conveying requirements and the
document sorting eﬀort that the employees experience.
• If a client request/case could move between all teams’ systems in an
additive way – a signiﬁcant portion of manual searching and data entry
could be resolved.

A POTENTIAL FUTURE
EMPLOYEE RESEARCH
SUBMISSION PREP DOCUMENT VALIDATION ACCOUNT CREATION ACCOUNT BUILDING ACCOUNT MANAGEMENT
Document sorting
and validation tools
1
1 2 3
2 1 3
3 1 2 1
Additive case management process
Archive of all account
documents

Design and Innovation from Accenture Interactive © CONFIDENTIAL JAN 2016 46Experience Design + InnovationCommercial Bank
EMPLOYEE RESEARCH
Q&A
Until 11:20 (5 minutes)

11:20 - 11:30
(10 minutes)
TAKE A BREAK
47
NEXT UP:
•Current State Journey Walkthrough

11:30 - 12:00
(30 minutes)
CURRENT
STATE
JOURNEY
48Experience Design + InnovationCommercial Bank

ACCOUNT OPENING WORKSHOPACCOUNT OPENING WORKSHOP
Design and Innovation from Accenture Interactive © CONFIDENTIAL JAN 2016Experience Design + InnovationCommercial Bank
CURRENT STATE JOURNEY
Q&A

CHALLENGES
THAT MATTER
12:00-12:15
(15 minutes)
INSTRUCTIONS
• Working with your table, determine prioritization
of the future state challenges we need to solve
for.
• Organize the challenge cards on the wall from 1
to 7. Explain why the ﬁrst and last were placed
there.
• Choose a representative to present out to the
group.

CHALLENGES THAT MATTER
SHARE OUT

•
•
•
ACCOUNT OPENING WORKSHOPACCOUNT OPENING WORKSHOPACCOUNT OPENING WORKSHOP
RESULTS
Unsynthesized data obtained from exercises
in discovery workshops

• #1 Easier Document & Signature Gathering (CLIENT CARD)
◦ Saves customers the most time, which means it provides the most value.
It was the biggest pain point emphasized during research.
• #2 Templated and simpliﬁed request process (CLIENT CARD)
• #3 Human + Digital Receipt Conﬁrmation & Status Updates (CLIENT CARD)
• #4 Document Sorting & Validation Tools (EMPLOYEE CARD)
• #5 Additive Case Management Process (EMPLOYEE CARD)
• #6 Archive All Account Documents (EMPLOYEE CARD)
• #7 Archive of Client Account Opening Documents (CLIENT CARD)
◦ It's last priority because it is already being solved by the approach taken
on concept # 1.
FirstService
Activity selections
TABLE 1
CLIENT RESEARCH THEMESACCOUNT OPENING WORKSHOP

Design and Innovation from Accenture Interactive © CONFIDENTIAL JANUARY 201 7
FirstService
Activity selections
TABLE 2
◦ Listening to client needs. It prioritizes client's ease and priorities.
• #5 Archive All Account Document (EMPLOYEE CARD)
◦ Use cases are limited.

FirstService
Activity selections
TABLE 3
Experience Design + InnovationCommercial Bank 55
◦ Opportunity for prospects. No bank is currently working on this. Easy win.
• #3 Archive All Account Document (EMPLOYEE CARD)
◦ Speed & visibility to client (Critical to status update capabilities).
◦ Nice to have.
◦ Dependent of all the others.
◦ Complexity of validation tools. Validation is last.

12:30 - 1:00
(30 minutes)
LUNCH
47
NEXT UP:
•Bring it to life exercise

BRING IT TO LIFE
1/2
1:00-1:10
(10 minutes)
•
•
•
INSTRUCTIONS
Choose a representative to represent your group
Workingwithyourgroup,thinkaboutyour#1
challenge to solve for.
List out the internal challenges we will be faced
with to solve them and place them on the wall.

BRING IT TO LIFE
2/2
1:10-1:25
(15 minutes)
INSTRUCTIONS
•
• Representatives, explain your challenges and
gather potential solutions from your new team.
Now, leave the representative at your station.
The rest of the group rotates to a neighboring station.

BRING IT TO LIFE
SHARE OUT

FirstService
#1 Pick: Easier Document & Signature Gathering (CLIENT CARD)
TABLE 1
FirstService
WHO:
• Rich Dalton - Design
• Konrad - Product/Strategy
• Wojo - Ops
• Mike Eason - Tech
• Steve Werfel - Legal
• Valerie Nelson - Compliance
• Blair Braud - CBRO (?)
CHALLENGES
• How to mirror client and internal experiences.
• Information security & secure storage.
• Internal resourcing (IT).
• Backup ( a non-digital process in case digital does not work).
• Legal limitations.
• Online channel? ( INTELLIX prioritization).
• Associate/client training.
• Design resources.
SOLVES:
• "Incentives" to adopt.
• Obtain funding (priority).
• "Common" API's for uniﬁed experience.
• Encryption.
• Bring in partners early.
• Alignment on priorities.

FirstService
#1 Pick: Templated & simplified request process (CLIENT CARD)
TABLE 2
SOLVES:
Complexity:
• Competitive review.
• Mapping to find common vs. not common.
• Define common needs (Prototype) DDA +
EE.
Tech Resources:
• Alignment channel (SF/SC, FIS).
• Priorities of other efforts.
• Provide clients with a Bank of accounts.
• Client can generate account on demand.
Trading + Quality:
• Risk monitoring for deactivated accounts
(certain amount of time).
62
CHALLENGES
Complexity:
• Different types of clients.
• Different account/product types.
Tech Resources:
• Obtaining proper resources to be able to work on new
technology (e.g. FIS).
• Pulling out existing data (e.g. to offer a "clone" of an account).
• No pre-existing based of information for new clients.
Trading + Quality:
• Change management for process
• Target new clients
• Front book vs. Back book
• Target associates.

FirstService
#1 Pick: Templated & simpliﬁed request process (CLIENT CARD)
TABLE 2 (PT 2)
63
WHO:
• Tech
• Design
• CSS
• KYC
• TM Implementation
• TM Sale
• OPS
• Harland
• Client training

TABLE 3
• Storage of validation.
• CSS authenticates that the client wants the
account (working the current process into the
new process).
• Tracking provided to client & CSS.
WHO:
• Tech
• TM Product
• AMA/RVC Department
• CPOO
• Legal
• Mark, Chad, Wendy
#1 Pick: Easier Document & Signature Gathering (CLIENT CARD)
CHALLENGES:
• Internal priority.
• Tech for document capture.
• Contact information missing.
• Client validation.
• The simplification of bank docs.
• Fraud.
• Stable portal (easy, good performance).
• Legal requirements (regulatory, state specific).
• Client knowledge for what is required.
SOLVES:
• Explore non-documentary verification (Cap. sourced info).
• Intellix Prospecting portal (client knowledge, sales job aid).
• Available DDM.
• Review current bank documents. Combine them into one.
• Enable pre-fill capability.

•
•
•
ACCOUNT OPENING WORKSHOPACCOUNT OPENING WORKSHOPACCOUNT OPENING WORKSHOP
NEXT STEPS +
TIMELINE
1:45 - 1:50
(5 minutes)

1:45 - 1:50
(5 minutes)
TABLE 1
W1 W2 W3 W4 W5 W6 W7 W8 W9 W10 W11 W12 W13 W14
11/14 11/21 11/28 12/5 12/12 12/19 12/26 1/2 1/9 1/16 1/23 1/30 2/6 2/13 2/20 2/27 3/6
PLANNING & RESEARCH
CONCEPTING
WORKSHOP
PROTOTYPE
Key Meetings
Fjord Activity
Field Notes from Research
Work Session
Client
Interview
Prep
Workshop
Planning
1/24
Workshop
Research
Planning
Current State
Journey
Mapping
Current State
Journey
Mapping
Current State
Journey
Mapping
Design Final
Walkthrough
Concep
(8J10
Concepts)
Concep
(8J10
Concepts)
Project Kickoﬀ Research
Synth
w/o 12/12:
Stakeholder &
Associate
Interviews/
Shadowing
w/o 12/19
Associate
Interviews/
Shadowing
Paern Prep
Concep
(8J10
Concepts)
1/24: Research
Readout at
Workshop
Prototyping Design +
Prototyping
Prototyping
Client
Interviews
Concep
(8J10
Concepts)
WHERE WE ARE AT TODAY

1:45 - 1:50
(5 minutes)
ACCOUNT OPENING
Any Questions?
Until 2:00

Online Account Opening

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