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Next Branch:
Humanizing CX
Jean-Pierre Lacroix
President SLDNXT
Challenge:
Banks are loosing
their emotional
connection
Left brain thinking is winning
EFFICIENCY
Self-service transactions
ENGAGEMENT
High value relationships
EFFICIENCY:
Digital
Transformation
5
ATM Video ATM Digital
Branches
Smart
ATM
Universal Banker Robotics
Biometrics
Security
Focus on transactional efficienci...
7
More technology changes to come
The 10 biggest U.S. banks, plus major credit card companies, have applied for at least 2...
8
Technology has
not only
changed the way
people bank . . .
it is changing the
way people
think
9
Trust a big issue
9% in the UK are likely to trust
recommendations based on AI
algorithms
Global study on trust & tech, ...
SECTION TITLE HEADLINE | SUBHEAD
10
ENGAGEMENT:
Humanizing CX
Customers
want better
relationships
and not
technologies
Consumers
reacted poorly
11
42%
58%
59%
41%
42%
58%
23%
77%
I lik...
12
SLD Stealth Attrition Study 2017
Visits remain high
36%
of consumers are
not satisfied with
the financial advice
banks ...
13
SLD Stealth Attrition Study 2017
Why?
70%
of the banking
relationship is
transactional and
less focused on
expertise.
I...
14
SLD Stealth Attrition Study 2017
However:
40%
of business growth
comes from
providing expertise
and supporting
financia...
15
Loyalty
comes from
more
engagement
with people
in branches.
SLD Stealth Attrition Study 2017
SECTION TITLE HEADLINE | SUBHEAD
16
Strategy #1
MOVE FROM FUNCTIONAL TO EMOTIONAL
17
The Emotionally
Connected customer
generates
52%
more annual value
than one who is
Highly Satisfied.
Motista 2016 Study
18
Emotional connections provide
multiple growth factors
Motista Study, 2017
19
Motista 2016 Study
Emotional connections also drive
loyalty
SECTION TITLE HEADLINE | SUBHEAD
20
Strategy #2
MOVE FROM TRANSACTION TO IMMERSIVE
21
Opportunity: Immersive Emotional Experiences
Informative Engaging Seamless
ExperientialPersonalFrictionless
Better CX across life stages
22
SECTION TITLE HEADLINE | SUBHEAD
23
Strategy #3
EMPLOYEE ENGAGEMENT AND
SALES CHOREOGRAPHY ENGINEERING
24
People matter
64%
seek advice
from people
My bank branch manager or staff
Friends and family
Non-bank advisers
Bank web...
25
Shift from transaction to advice ecosystem
Convenient Transactions Financial Confidence Ecosystem
SECTION TITLE HEADLINE | SUBHEAD
26
Strategy #4
MOVE FROM LINEAR TO AGILE PROCESSES
27
v i s i o n
requirements
stories
Product Backlog
Progress through ideation, collaboration and testing
SCRUM
ROLESProduc...
DESIRE: the ultimate
definition of brand
loyalty
Book release in June
2018
THANK YOU!JEAN-PIERRE LACROIX
jplacroix@sldnxt.com
TEDDY MA
tma@sldnxt.com
Next Branch: Humanizing CX
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Next Branch: Humanizing CX

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Banks have used automation to remove friction points for customers to great success. However, automation cannot replicate human interaction, which is more important when it comes to making big financial decisions. Banks have addressed convenience and are working on trust, building customers’ confidence comes next. This will require highly-skilled humans, with automation supporting them behind the scenes.

In this session, you will learn:

The importance of emotionally connecting with customers
The role the branch can play in creating these connections
The new tools available to respond to the fast pace changes in the marketplace

Published in: Economy & Finance
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Next Branch: Humanizing CX

  1. 1. Next Branch: Humanizing CX Jean-Pierre Lacroix President SLDNXT
  2. 2. Challenge: Banks are loosing their emotional connection
  3. 3. Left brain thinking is winning EFFICIENCY Self-service transactions ENGAGEMENT High value relationships
  4. 4. EFFICIENCY: Digital Transformation
  5. 5. 5 ATM Video ATM Digital Branches Smart ATM Universal Banker Robotics Biometrics Security Focus on transactional efficiencies
  6. 6. 7 More technology changes to come The 10 biggest U.S. banks, plus major credit card companies, have applied for at least 2,679 patents since 2013 in hot technologies where fintech startups are encroaching. Relecura Inc.
  7. 7. 8 Technology has not only changed the way people bank . . . it is changing the way people think
  8. 8. 9 Trust a big issue 9% in the UK are likely to trust recommendations based on AI algorithms Global study on trust & tech, HSBC/IPSOS Research, 2017
  9. 9. SECTION TITLE HEADLINE | SUBHEAD 10 ENGAGEMENT: Humanizing CX
  10. 10. Customers want better relationships and not technologies Consumers reacted poorly 11 42% 58% 59% 41% 42% 58% 23% 77% I like the idea I would rather talk to a teller 0% 50% 100% 150% 200% 250% How do you feel about experimental bank branches that have no tellers and every transaction is automated? Gen Z Millennials Gen X Baby Boomers Timetrade:TheStateofRetailBanking:ConsumerSurvey2016 15% 37% 40% 47% 49% I believe I get better rates when negotiating face to face I equate the comfort of branch experiences to shopping in a store I like my overall branch experience I receive more value from my bank when speaking to someone in person I trust my bank more when speaking to someone in person Why do you see yourself going to branches in the future? Accenture Research: 2016 North America Consumer Digital Banking Survey
  11. 11. 12 SLD Stealth Attrition Study 2017 Visits remain high 36% of consumers are not satisfied with the financial advice banks are providing.
  12. 12. 13 SLD Stealth Attrition Study 2017 Why? 70% of the banking relationship is transactional and less focused on expertise. I don't really think about it A way to manage day to day financial needs A good place to have a checking account A place I have to use to access my money A resource for professional financial insight and advice A trusted relationship that has long-term benefits I do not have a primary financial institution Don't Know 0 0.055 0.11 0.165 0.22 3.68% 2.45% 18.32% 3.42% 20.86% 20.16% 16.56% 14.55% How do you view your relationship with your primary financial institution? Please select one from the list below that is the most appropriate.
  13. 13. 14 SLD Stealth Attrition Study 2017 However: 40% of business growth comes from providing expertise and supporting financial well- being. Invests in your financial well-being Provides a plan to help you reach your financial goals Finds new ways to improve how you conduct your business Rewards you for being a loyal customer Finds ways to save you money Provides access to financial experts Customizes products and services to fit your needs Takes overall relationship into account when quoting fees and rates 0.34 0.358 0.375 0.393 0.41 38% 37.6% 41% 36.9% 35.1% 39.5% 37.1% 37.6% Customers would you be willing to add more products, consolidate to one account and actually pay more if their primary financial service provider offered a much better experience.
  14. 14. 15 Loyalty comes from more engagement with people in branches. SLD Stealth Attrition Study 2017
  15. 15. SECTION TITLE HEADLINE | SUBHEAD 16 Strategy #1 MOVE FROM FUNCTIONAL TO EMOTIONAL
  16. 16. 17 The Emotionally Connected customer generates 52% more annual value than one who is Highly Satisfied. Motista 2016 Study
  17. 17. 18 Emotional connections provide multiple growth factors Motista Study, 2017
  18. 18. 19 Motista 2016 Study Emotional connections also drive loyalty
  19. 19. SECTION TITLE HEADLINE | SUBHEAD 20 Strategy #2 MOVE FROM TRANSACTION TO IMMERSIVE
  20. 20. 21 Opportunity: Immersive Emotional Experiences Informative Engaging Seamless ExperientialPersonalFrictionless
  21. 21. Better CX across life stages 22
  22. 22. SECTION TITLE HEADLINE | SUBHEAD 23 Strategy #3 EMPLOYEE ENGAGEMENT AND SALES CHOREOGRAPHY ENGINEERING
  23. 23. 24 People matter 64% seek advice from people My bank branch manager or staff Friends and family Non-bank advisers Bank website Online reviews A competing bank website Google or online search Don't know 0% 7.5% 15% 22.5% 30% 10.64% 11.16% 0.61% 6.65% 6.35% 18.32% 29.38% 16.89% SLD Stealth Attrition Study 2017
  24. 24. 25 Shift from transaction to advice ecosystem Convenient Transactions Financial Confidence Ecosystem
  25. 25. SECTION TITLE HEADLINE | SUBHEAD 26 Strategy #4 MOVE FROM LINEAR TO AGILE PROCESSES
  26. 26. 27 v i s i o n requirements stories Product Backlog Progress through ideation, collaboration and testing SCRUM ROLESProduct Owner Scrum Leader Stakeholders Users Team Members Why not look at what is behind high tech’s success? Agile has been a powerful lever for driving consensus based innovation
  27. 27. DESIRE: the ultimate definition of brand loyalty Book release in June 2018
  28. 28. THANK YOU!JEAN-PIERRE LACROIX jplacroix@sldnxt.com TEDDY MA tma@sldnxt.com

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