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Backbase Webinar: Customer OS


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Banks won’t succeed if they don’t put the desires of their customers above all else. The current state of the banking industry falls short of expectations for both banks and their customers, yet the market has become increasingly competitive. Whilst the reasons for this vary, falling behind will most likely lead to failure.
Staying relevant is about so much more than just bringing nice interfaces to the end customer. An integrated approach is vital, one that spans the entire user experience and a host of back-end systems and procedures. This is about bringing everything together to create a smart framework that connects all the parts of the bank to optimize the customer experience. That framework is Customer OS and its four pillars are open banking, modular banking, omni-channel banking and smart banking.

An open API strategy and the clever use of data will drive the open and modular banking components. Segmented client experiences across all channels and embracing new technologies will power omni-channel and smart banking.

Published in: Business
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Backbase Webinar: Customer OS

  2. 2. Copies of the slides will be shared afterwards Twitter: #Backbase | @Backbase Ask Questions via the Q&A panel AGENDA
  3. 3. Lets explore some Key Trends
  4. 4. GAFAnomics : The Rise of Digital Platforms Digital Platforms Tech company MARCH 10, 2000 Microsoft $507B Cisco $452 GE $432 Intel $402 Vodafone $371 Market cap rank: 1 2 3 4 5 AUG. 1, 2006 Exxon $413B GE $336 Microsoft $245 Gazprom $244 Citigroup $240 AUG. 1, 2011 Exxon $392B Apple $368 PetroChina $298 ICBC $240 Shell $229 AUG. 1, 2016 Apple $571B Alphabet (Google) $540 Microsoft $441 Amazon $364 Facebook $357 Largest Companies in the World – Market Capitalization
  5. 5. GAFA : The Rise of Digital Platforms Digital Platforms Billion USD Nov 2017 Apple Alphabet (Google) Microsoft Amazon Facebook Tencent Alibaba 873.6 713.8 635.6 544.4 520.1 510.8 474.1
  6. 6. Software is Eating the WorldMarc Andreessen – Founder Netscape (silicon valley)
  7. 7. Platform Business – Do a 10x Better Job Software eats the World The social journey “Carole wants to organize a party and invite 200 friends” A whole day Before, she had to call each of her friends for 2 minutes 30 minutes With Facebook, she creates an event and invites 200 of her friends.
  8. 8. Platform Business – Do a 10x Better Job Software eats the World The purchase & delivery journey “Ben really wants to watch a very specific Hong Kong movie called “The One-armed Boxer” 48 hours to 1 week He had to go to a specialized video store with a high probability that the seller wouldn’t have it in stock, then wait for the product to be shipped to the store, come back, and buy it. 1 minute If the film is available on Amazon Instant Video, he just has to type the name and begin watching.
  9. 9. Platform Business – Mass Individualization Software eats the World Every smartphone is unique two minutes after its first boot. We are living in the age of mass individualization. No two people get the same Google search result, see the same products on, have the same Facebook feed or iTunes catalogue.
  10. 10. Platform Business – At Zero Marginal Cost Software eats the World Mass Individual 1900 TODAY Consumption lowered prizes and opened massive new Markets to people who wanted goods but couldn’t afford it. ZERO MARGINAL COST of customization makes possible the production of individual services at the same low price points as if it was mass produced.
  11. 11. Platform Business – Aggregate | Tapping excess Capacity 1,400,000 365,000/year $0/room 0 700,000 24,300/year $210,000/room (2015) (2014) Number of rooms Room opening per year Cost per room opening Software eats the World
  12. 12. Platform Business – Global Roll-out at Low Cost Software eats the World Digital economyBrick & Mortar economy
  13. 13. Platform Business – Make it Super Smart (AI) Software eats the World
  14. 14. Platform Players : Building a new OS… Superior Customer value Job to be Done Software Platform Start with the customer value you are going to create. Create Customer Journey’s + Leverage Platform Capabilities
  15. 15. CUSTOMER OS
  16. 16. Customer OS = For Important aspects of Everyday Life Software eats the World
  17. 17. Customer OS – Expanding to every Aspect of Life Software eats the World Be healthy Be entertained Consume Pay Communicate Live better Move faster Google Calico Apple Healthkit Marketplace Google Youtube Google Play Google Wallet Google Hangout Google Car Apple Beats Streaming Apple iTunes Apple Pay Apple iMessage Apple Homekit Amazon Twitch Amazon Payments Amazon Cloud Drive Amazon fulfillment
  18. 18. Raising the Bar?
  19. 19. Competition?
  20. 20. Just do it
  21. 21. Mission – Together we Transform our Industry Digital Transformation The Battle Is For The Customer Interface Posted Mar 3, 2015 by Tom Goodwin (@tomfgoodwin) WE LIFE IN A TIME OF SCARCE ATTENTION AND ABUNDANT CONNECTIVITY, SMARTPHONES ARE OUR PRIMARY ACCESS POINT TO EVERYTHING TIME TO MASTER THE INTERFACE LAYER
  22. 22. customers don’t care if companies don’t care Products The stuff that is meaningful to people Very Simple Rule
  23. 23. Closing the GAP – Seamless Journey Design Digital Platforms Pain points: • Street hailing • Fees for booking ahead • The driver choses you • Unknown duration • No taxi tracking • Cash payment required in many countries • No customer service • Check pickup time • Check driver’s rating • One-click order • See your driver approaching • Uber ride is tracked (information & security) • Seamless payment • 5-star rating Seamless Uber UX
  24. 24. Closing the GAP – Leveraging Digital Platform Capabilities Digital Platforms Access to users App distribution on the AppStore, the Playstore and soon Facebook Messenger Driver navigation Google Maps used to geolocate cars and users as well as to help drivers navigate Data and server management Data storage and management on Amazon Web services in its early stage Payment Google Wallet and Apple Pay are used to complete transactions
  25. 25. Our Inspiration – The Customer OS Blueprint Digital Platforms The Customer OS Get the Job done Frictionless, Fast, Delightful Legacy Legacy FinTech Google PSD2 API Platform to Orchestrate Customer Journeys API Eco-System
  26. 26. Our Inspiration – The Customer OS for Banking Digital Platforms The Customer OS Get the Job done Frictionless, Fast Legacy Legacy FinTech Google PSD2 API Orchestrate The Customer Journey API Eco-System
  27. 27. CUSTOMER OS Banking | Insurance
  28. 28. BACKBASE : The Customer OS for FS Start with the customer value you are going to create. Create Customer Journey’s + Leverage Platform Capabilities Superior Customer value Journey Design Digital Platform
  29. 29. Impact #1 – From Channel Islands to Omni-Channel Digital Transformation Branch Internet Mobile Screen design, Workflows, content Screen design, Workflows, content Screen design, Workflows, content Onboarding Branch Internet Mobile Credit Application Credit Card Application Channel | Silo Legacy Internet Omni-Channel Dialogs Screen design, Workflows, Content ... Omni-Channel Fabric Mortgages Onboarding AccountOpening Loans ... Branch Internet Mobile Branch Internet Mobile Mobile Branch
  30. 30. Ready to Go Accelerators Monolithic Applications Decoupled Layers Problem Impact #2 – From Monoliths to Modular Architecture Digital Transformation Lego Style Building Block Architecture
  31. 31. Impact #3 – From Closed to Open Banking Closed Banking • Assets ownership • Localized work • Mass production • Proprietary value • Scarcity control Open Banking • Connections access • Distributed work • Unit production • Shared value • Abundance management Digital Transformation
  32. 32. Impact #4 – From Mass to Smart Banking Companies produce in mass and sell an identical product to all their customers Companies offer tailored products and Customization possibilities to each of their Customer, creating an intimate and long-lasting experience. Smart PersonalizationMass Production Digital Transformation
  33. 33. BACKBASE – 4 Value Drivers of the Customer OS The Customer OS Omni-Channel Agile Smart Open Digital Transformation = +
  34. 34. Omni Banking Agile Banking Open Banking Smart Banking BUSINESS TRANSFORMATION SUPERIOR CUSTOMER VALUE THE CUSTOMER OS Value Drivers
  35. 35. the foundation for seamless banking experiences o Seamless Journeys o Frictionless & Fast o Open | API Driven o Agile for the future CUSTOMER OS
  36. 36. Customer OS : What is it? An OS is a Foundation for a great experience iOS + App Store Baseline Solutions Browser Mail Music Messages Phone iPhone X Operating System Added Value Device Basics you need to get started The really cool stuff
  37. 37. Customer OS : What is it? Every feature is like an “app” you build on your customer OS All the basics out of the box Accounts Trans- actions Payments Alerts Maps Financial Institution Operating System Added Value CUSTOMER OS Business Killer Feature Killer Feature Killer Feature Killer Feature Killer Feature Spend majority of your effort on the “needle movers” Baseline Solutions
  38. 38. Customer OS : Create Seamless Banking Experiences Two Speed Architecture Existing Systems CUSTOMER OS Customer Employee Any Device| Any User Customer Experience Orchestration
  39. 39. BACKBASE : The Customer OS for Banking User Experience Management Digital Banking Capabilities Identity & Access Management | Entitlements Process Digitization | Forms Cloud Deployment CUSTOMER OS Financial insight Front-Office Empowerment Digital Sales Real-Time Support Tailored Advice
  40. 40. Retail Banking: Message Center
  41. 41. BACKBASE : Combine Best of Both Worlds BACKBASE Platform BUILDBUY Packaged Application Custom Code Flexibility to CustomizeFaster / Industrialized Out of the Box Application, No Custom. Application with Limited Customization Platform + Application Accelerators + Freedom for Custom Dev Platform + Custom Dev Custom App Development
  42. 42. Thank You!