Point of view on personalization challenges & best practices in Financial Services

1. Ness
Digital
Engineering
Digital Capabilities & Personalization

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Why Personalization?
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Agenda
Personalization Engine

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Why Personalization?
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Financial Services Enablers
Customer Touchpoints
• Customers increasingly multichannel
– 27% - Branch, Smartphone, Online
– 28% - Branch & Online
• 84% - Online Banking
• 43% - Smartphone Banking
• 43% - Customers manage money using Websites &
Apps
• Trends indicate younger Mobile Banking
Financial Services Imperatives
• Improve CX & multichannel integration
• Analytics / BI
• Transformation of Application Architecture
• Omni-channel / cross-channel solutions
Personalization
Demographic
Online Banking Smartphone
Banking
Tablet Banking
Banking
Male 50% 53% 59%
Avg. age 44 35 38
High Ed 53% 55% 63%
Work full time 50% 62% 66%
High Income 38% 44% 53%
Reference. Forrester 2016 Retail Banking survey

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• Data quality and management
• System integration with
antiquated technologies
• Universal Mobile app created
for everyone & customized for
none
Personalization Challenges & Expectations
What is personalization?
Contextual engagement on the
device of choice delivering on
demand customized advice,
communication, content,
experience, products, rewards,
services, & solutions
Why personalization?
• More Customers bank remotely than visiting a branch
• Money management is preferred to be performed online or Apps
• Frictionless experience is expected online or mobile
• Today’s demographics desire online or mobile banking
• Consumer’s expect content, products, & offers relevant to their transactional behaviour
• Customers are less loyal and seek rewards for their relationships
Challenges
Customer’s expectations
UX simplification &
personalization
• Mobile app – selectable home
screen option, design options,
multi-language support (i18n /
I10n)
• Guides & quicker access to
functions
• Expedite, optimize, and where
possible automate task
execution
Recognition
• Understand behaviours across all
channels including communication,
contact centre, product acceptance,
& transactional
• Longitudinal relationship including
family & social
• Rewarded for loyalty including third
party offers aligned to behaviours in
accordance with geographic
positioning
Financial advice
• Avoidance of fees & penalties
• Comprehend goals &
preferences
• Predictive & prescriptive
monetary management
• Virtual wallet managing
budget, notifications, savings,
& spend spanning devices

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Capturing Customer Experience to Drive Revenues and Loyalty
Journey automation across and between
channels
Personalize your services and offers
Provide contextual interactions. The right
service at the right time.
Gather and leverage new data to create new
products and services

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Personalization Best Practices
Business
Value
Customer
Profiling
Data
Management
Analytics
Organization
Performance
Management
Process
Technology
• Business value – defined for analytics aligned to strategic imperatives
• Customer profiling – contact centers, cross-channel, sentiment analysis, & VOC
analysis
• Data management – curation, governance, modeling, quality, profiling, preparation,
sources, & taxonomy
• Analytics – AI, machine learning, & statistical modeling
• Organization – cohesive & structured multidisciplinary teams of analysts, scientists,
technologists, & UX engineers
• Performance management – algorithms & statistics, KPI’s, methodology, metrics, &
ROA / ROI
• Process – workflow automation, optimize, & simplify
• Technology – API’s, services, system integration, & tools
Iterative Lifecycle

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Personalization Maturity
Iterative Lifecycle
• Laggards – disparate data & analytics: customer & campaign; basic banking functions
• Followers – clickstream, Omni-channel
• Contemporaries – statistical modeling; customizable style, font, & color; pie chart
account portfolio view
• Leaders – machine learning; optimization algorithms; frictionless Omni-channel; multi-
language support; virtual wallet
• Innovators – correlation of social, news, clickstream, customer & campaign; AI; genetic
algorithms; SNA & sentiment analysis; location analytics; device graph Omni-channel;
emoji & pictures; auto-notifications for fee prevention such as overdraft, NFS, duplicate
deposit; budget recommendations; messaging app’s: Whatsapp, Viber, Snapchat, WeChat
Laggards
Followers
Contemporaries
Leaders
Innovators
Most Financial Services
Companies

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Personalization Engine
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Convergence of UX, Data Analytics, & Platform Engineering
Personalized content, products, & services delivered at the right time the right location on the right channel
Our User Experience & Data Analytics Teams
work together
To make products more appealing and offers more relevant
We maximize CLV & profitability
By transaction behavior analysis & cognitive development,
freshestproducts delivered on the device of choice as life
happens
3
Retail Clients with incredible digital platforms
With prescriptive ingredients from data insights our Connected Framework
enables MVP development
21
When you build your digital platforms with Ness Digital Engineering, you’re enabling a better customer ecosystem
From your
transaction,
marketing, &
web data
Creating AI, ML, & statistical
models
To develop &
optimize the ideal product
Delivering on the preferred
channel
While increasing brand loyalty &
retention
Discover How

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Integrated Customer Journey Mapping

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Personalization – Content, Products, & Services
Deposits ($25k)
CreditCard
Bills ($5k)
Utility Bills
($2500)
Mortgage
(2500)
Investments
($20k)
Products: investment
offers, 3rd party offers
by location
Services: auto-notification of
preventive fees, budget
recommendations, virtual
wallet, financial advice
• Style: multi-language, color, font
• Content: news
Personalization
Engine
• Behavioral modeling
• Customer preferences
• Account & Transactional
analysis
• Sentiment analysis
Web Analytics
Affinity Analysis
Business
Intelligence
Channel
Optimization
Collaborative
Filtering
Data Management /
Governance
Market Basket
Analysis
Machine
Learning / AI
Natural Language
Processing
OR Optimization 3rd PartySocialGL
Document
Management
CustomerCampaign / Offers
AccountProductTransaction
BANKING SYSTEM OF RECORDS
DATA & ANALYTICS

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Personalization – Customer Contact Centre
Customer Care
Calling to
replace Credit
Card
GL / Recon
proceeds no TX
impact
Customer
notification
360 Degree
Recommended Actions
Check #123 Gas Bill $500.00
Check #786 Auto Ins $1500.00
Check #456 Dep $10k
Cash Dep #23333 $1500
Credit TX #789 $4500.00
Credit TX #123 $45k
Fraud
Credit Card
Bank
Brokerage
Mortgage
Transactions
LocationOn call Resolutions
Personalization
Engine
• Behavioral modeling
• Customer preferences
• Account & Transactional
analysis
• Sentiment analysis
Web Analytics
Affinity Analysis
Business
Intelligence
Channel
Optimization
Collaborative
Filtering
Data Management /
Governance
Market Basket
Analysis
Machine
Learning / AI
Natural Language
Processing
OR Optimization 3rd PartySocialGL
Document
Management
CustomerCampaign / Offers
AccountProductTransaction
BANKING SYSTEM OF RECORDS
DATA & ANALYTICS

14. Thank You
Drive New
Business Growth
Create a Connected Customer
Experience
Deliver Products to
Customers Faster
Experience Design as a
Competitive Advantage
Work with Ness in creating new products and
business models that create sustainable growth.
Understand the journey of the customer across
all touch-points with a customer centric approach
to product development.
Rationalize product innovation, create tangible
prototypes, user test and get to market faster.
Raise the bar. Create enterprise applications not
just with modern but cutting edge design and
functionality.
Sanjay Bhakta
Senior Director, Solutions
sanjay.bhakta@ness.com