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Bank 2.0 - How to get ready for the new era of Engagement Banking

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Bank 2.0 - How to get ready for the new era of Engagement Banking

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In this presentation, Jelmer de Jong presents the Backbase vision of Engagement Banking, introducing the concept of Bank 2.0, to help banks prepare for this new era.

In this presentation, Jelmer de Jong presents the Backbase vision of Engagement Banking, introducing the concept of Bank 2.0, to help banks prepare for this new era.

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Bank 2.0 - How to get ready for the new era of Engagement Banking

  1. Bank 2.0 Get ready for the new era of Engagement Banking BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  2. Facebook, Apple and Amazon are delivering a superior experience. Why not my bank? BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  3. the shifting market BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  4. Banking Titeltext is no longer only branches and ATMʼs Creating customer trust, being available online and Support text on mobile is the next big challenge for banks. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong Photo: http://www.flickr.com/photos/nyperson/5008167241/
  5. New banks are taking over and winning customers Titeltext New ideas, Support textmobile focus, no branches, flexibility and strong customer focus are making the difference. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  6. Non-banks are acting like banks Titeltext PayPal, Facebook, Amazon, Apple & multiple Support text fintech startups are winning customers. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  7. New social banking initiatives are launching Titeltext Social banks, peer-2-peer lending and investment websites. Support text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  8. New social banking initiatives are launching Titeltext Social layers on top of core (credit card) transactions Support text are bringing social to banking. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  9. Banks, you must prepare for this new era of Engagement Banking BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  10. Bank 2.0 BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  11. Customer Business Superior User Experience • • Optimize Online Results Personal & Relevant • • Lower Cost-per-Contact Any Time, Any Place & Any Device • • Control: Less IT Dependency IT • Leverage Existing Infrastructure • Easy Integration • Secure & Performance Bank 2.0 Titeltext empowers key stakeholders Customer, business and IT should be united Support text to create a seamless online experience. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  12. Seamless superior user experience whilst being Personal & Relevant BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  13. Forrester: Titeltext Next Generation Digital Financial Services Banks need to fundamentally improve the way they Support text serve customers via digital channels. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  14. Outside-In CUSTOMER EXPERIENCE LAYER loosely coupled INTERNAL SYSTEMS AND PLATFORMS Inside-Out Outside-in Titeltext approach Paradigm shift: from ‘inside-out’ to ‘outside-in’. Support text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  15. Open Closed Marketing Transactional Website Platform Managed by e-business Managed by IT Seamless Titeltext customer journey Supportyour website visitors click the login button. 90% of text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  16. Promotions Transactions Seamless Titeltext customer journey Supportyour website visitors click the login button. 90% of text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  17. Customer Mobile Personalization Superior Customer Experience Layer App Store Content / Profile Application Security & CORE BANKING SYSTEMS & PROCESSES Customer Titeltext Experience Layer The customer comes first, not systems or processes. Support text One seamless platform -- ready for any device. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  18. BRANCH SOCIAL MEDIA ONLINE - (ANY DEVICE) CALL CENTER OFFICE (public, personal) CUSTOMER EXPERIENCE LAYER BUSINESS RULES ADVISORY TOOLS 1:1 Customer treatment (targeting, segmentation) Simulation, Calculators, ... Reusable Widgets CUSTOMER PROFILE CONTENT Collect Customer Preferences Consistent Across Channels (implicit and explicit) CORE BANKING OTHER BACK-END FUNCTIONS 3RD PARTY FUNCTIONS Transactional CRM PFM Widgets Titeltext will rule them all Widgets text small and flexible mini-applications that can integrate Support are with any system and be reused across multiple channels. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  19. Demo: ABN Amro - widgets & social integration Titeltext See howtext platform uses widgets to give users control whilst Support one allowing for integration with core systems and social media. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  20. Deliver any time, any place and on any device: The Mobile Challenge BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  21. Customers need ubiquity Titeltext But how text you support all Support can operating systems and devices? BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  22. WIDGETS / HTML 5 SOCIAL NETWORKS BANKING WEBSITE FRONT OFFICE UNIFIED DESKTOP Titeltext The solution: Widgets & HTML 5 Support text contain any application and are reusable, This makes widgets Widgets can the best solution for the mobile challenge, for both the web and native apps. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  23. (1) Direct To Browser BANKING + PLATFORM NATIVE WRAPPER (2) Via Native App Wrapper • Mobile Optimized Widgets • jQuery Mobile • HTML5 Titeltext Mobile delivery: from your banking platform to the customer Support text mobile browser or using the native wrapper, creating Direct in the an OS-specific application. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  24. eBusiness & IT alignment for a faster time-to-market BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  25. CUSTOMER EXPERIENCE CHANGE REQUIREMENTS loosely coupled CHANGE CAPABILITY INTERNAL SYSTEMS AND PLATFORMS Allignement by decoupling Titeltext Different text Support heartbeats cause unnecessary complications and slow down the time-to-market. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  26. Online is a customer interaction channel, where eBusiness must be in control BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  27. Customer BANK 2.0 CUSTOMER PORTAL in Control E-BUSINESS PORTAL MANAGER Business SECURITY AGGREGATION PERSONALIZATION CONTENT PRESENTATIO IT in Control CORE BANKING SYSTEMS & PROCESSES Different Titeltext layers for different levels of control Bringing text Support control and ease to customer, e-business and IT teams. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  28. Demo: Bank 2.0 & the Portal Manager Titeltext Customer & business in control, across multiple devices. Support text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  29. how can we help you? BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  30. + We are Backbase Titeltext We deliver a white label Bank 2.0 Portal + Customer Engagement Services Support text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  31. 3RD PARTY APPS * 3RD PARTY APPS * We deliver Titeltext globally Customers on all continents and offices in Europe and North America. Support text BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  32. 3RD PARTY APPS * 3RD PARTY APPS * We deliver Titeltext with partners We are not alone. We have local and global partners Support text that are specialized in Backbase Portal. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  33. 3RD PARTY APPS * 3RD PARTY APPS * Titeltext to big customers We deliver Top financials are already using Backbase to deliver a Support text superior customer experience across multiple channels. BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  34. We deliver Bank 2.0 BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong
  35. Thank you! JELMER DE JONG | jelmer@backbase.com | @jelmerdejong | +31 (0) 6 230 260 12 BACKBASE SOCIAL MEDIA WEBINAR | June 9, 2011 | @jelmerdejong

Editor's Notes

  • Welcome, my name is Jelmer de Jong.\n@jelmerdejong on Twitter, since we are talking Social Media today.\n\nI will take 15 minutes of your time to present our vision of Bank 2.0\nusing a few slides and demo’s. To help prepare you for this new era of Engagement Banking.\n
  • Why are Bank 2.0 & Engagement Banking such hot topics nowadays?\n\nBecause customers are experiencing new things every day.\n\nIf Facebook, Apple and Amazon are delivering a superior online customer experience. Why not my bank? Customers are asking.\n\nThey are expecting personalized experiences more and more - In your branches, online and on their mobile devices.\n
  • The market is changing\n\nFinancials are not longer controlling the money.\n\nWe are moving more and more to a customer controlled market.\n\n
  • Branches and ATM’s should no longer be the main focus areas for banks.\n\nOnline, Mobile & Social Banking combined with Customer Experience & Trust are becoming key.\n
  • This is because new banks are taking over and winning customers.\n\nExample: BankSimple - reinventing personal banking.\n\nThey start with a clean slate; no legacy, no branches to support.\n\nA pure customer focussed, mobile and internet oriented bank is shaking up the retail banking space in North America.\n
  • Non-banks are acting like banks and moving into the financial world.\n\nPayPal does more international transactions then the ING Group.\nFacebook’s currency ecosystem is bigger than a medium-sized country.\nGoogle & Apple are investing more in new payment methods like Near Field Communication (NFC), than all western banks combined.\n\n\n
  • New social banking initiatives are launching.\n\nTake LendingClub. The have no overhead, and are able to give borrowers lower rates and investors better results for their money.\n\nCan your bank compete with these rates?\n
  • And with new startups in the fintech industry, banking becomes more social.\n\nThis is Blippy.\n\nBlippy is a social network on top of your transactions. \n\nIt aggregates your credit card spending and you can rate your purchases and places, like restaurants, you visit.\n\nThis are a few examples of how the market is changing. \nWhat’s missing? No examples from traditional banks.\n
  • Banks, you must prepare for this new era of Engagement Banking.\n
  • Right now I’m presenting Backbase’s vision of Engagement Banking.\n\nIntroducing the concept: Bank 2.0\n
  • Bank 2.0 is not just about the customer, \nor just about business, \nor just about IT.\n\nBank 2.0 is about empowering all key stakeholders.\n\nIn the next few minutes I will go through the most important key points to enable this empowerment and make the first introductory steps toward Bank 2.0:\n\n1) Creating seamless user experiences\n2) Taking on the mobile challenge\n3) Achieving a faster time-to-market\n4) Giving e-business control over the online customer journey\n\nAll while leveraging your existing IT infrastructure.\n\n
  • The first point.\n\nCreate a personal and relevant user experience.\n
  • Or, as Forrester says: digital banking channels have to become SUPER.\n\nSimple: make it easy for customers.\nUbiquitous: make banking available any time, any place and on any device.\nPersonal: give me what I need, when I need it.\nEmpowering: the customer himself is the best targeting rule.\nReassuring: not everything can be done online, offer direct personal contact when needed.\n\nHow can you create this SUPER experience with your current systems?\n\n\n
  • In the past, banks were busy pushing their internal systems and processes to the customer, by web-enabling their existing platforms. Thinking from the organization’s perspective which is, inside-out.\n\nThis approach doesn't work. A paradigm shift is needed.\n\nThe customer comes first, banks need to start thinking from the customer’s perspective, which is: outside-in.\n\nWe introduce a ‘customer experience layer’ on top of the existing infrastructure to enable this outside-in approach. This offers the flexibility to introduce Bank 2.0 while still leveraging previous investments.\n
  • This is quite a standard picture at most banks:\n\nYou have the open, marketing website and the closed, behind login, transactional platform.\n\nMarketing is already in charge of the open website. The transactional platform is still the domain of IT.\n\nIt’s interesting, however that over 90% of the visitors to the marketing website come there with only one goal: to click the login button. This makes the effort and investments in an open platform less effective.\n
  • Open and closed should be one seamless journey. One platform.\n\nOne platform maintained by the marketing or the e-business team.\n\nBecause, if 90% of your visitors login, this is the place where you should be able to interact and deliver a superior experience.\n
  • Let’s take a closer look at the Customer Experience Layer.\n\nIt brings together the most important building blocks for customer, business and IT whilst enabling cross-channel usage: tablets, smart phones, regular browser and social media.\n\nIt’s all combined in the Customer Experience Layer on top of your core banking systems and processes. Bringing the open and closed environments together to one seamless customer journey.\n\nHow? Widgets.\n
  • Widgets are mini-applications. They can contain anything and be presented across multiple channels. Online (open and closed), call center, branch office and social media.\n\nWidgets can integrate and contain any application or system. Think business rules, customer profiles, advisory tools and content. But also other back-end functionality like your core banking system, your CRM and 3rd party applications like PFM tools.\n\nLet’s see how widgets can work in a regular banking environment.\n
  • In this demo, originally build together with ABN Amro you can see how one platform uses widgets to give users control whilst allowing for integration with core systems and social media.\n
  • Once you have introduced the Customer Experience Layer based on the widget approach you can address the second key point, mobile. \n\nDeliver banking any time, any place and on any device. \n
  • We talked about ubiquity.\nTo interact with customer whenever and wherever they want.\n\nBut this is a tough challenge with the multiple computers, tablets and smart phones available along with the hundreds of different combinations of screens, operating systems and browsers.\n
  • The solution to the mobile challenge is Widgets in combination with HTML 5.\n\nAs already introduced, Widgets are mini-applications that can contain any application and be presented across multiple channels.\n\nIf we combine the power of HTML 5 with the power of widgets we have a perfect method that can reuse the Widgets built for our regular platform to work with mobile devices like tablets and smart phones.\n\nAnd, widgets can run as web applications in the browser on the mobile device or, as native applications, using a so-called wrapper.\n\n\n
  • Let’s take a slightly more detailed look at how this would work.\n\nYou have your Banking Platform containing your existing infrastructure and the flexible presentation layer as introduced a few slides ago.\n\nPart of the presentation layer includes widgets, the mini-applications. You can optimize these widgets for mobile devices using HTML 5 and multiple open source libraries like jQuery Mobile.\n\nNow you are able to (1) directly publish these widgets to the browser or make these widgets available as a native application using a wrapper (2).\n\nSome reasons to choose for a native approach instead of the web approach could be extra device optimization and differentiation such as, use of caching, access to hardware for geo-location, camera usage and security.\n\nUsing the widget approach gives you greater flexibility and makes sure you don’t have to develop a new application for every new device and system. \n\nWith widgets on mobile, you are using the same platform as for the rest of your online banking environment: the same user experience layer, the same integration diamond and the same code.\n\nIt’s a truly ‘write once, run everywhere’ solution.\n
  • We have now shown how to create a seamless user experience across multiple devices using the flexible presentation layer. And we have made it ready for mobile.\n\nHow do we align e-business & IT for a faster time-to-market?\n
  • We can all agree that e-business and IT have different heartbeats. This is entirely normal.\n\nIT has different KPI’s than e-business.\n\nWhere e-business is following the customer and the market with KPI’s like revenue, NPS, conversion etc., IT’s KPI’s are system performance, security & uptime. \n\nCompletely different heartbeats; the fast moving e-business team’s and IT’s slower heartbeat with much lower change capability.\n\nThere is nothing wrong with this. We just need to accept it and find a good solution. The solution is decoupling. \n\nIT is still responsible for the internal systems and platforms and e-business takes control over the Customer Experience Layer. Using a loosely coupled approach, this experience layer has access to the underlying systems. But IT is no longer needed if we want to change basic functionality, like content or forms, in the presentation layer.\n
  • Since online is a customer interaction channel it has to be maintained with a high heartbeat, by e-business.\n
  • The decoupled setup looks a bit like this.\n\nIf we start at the bottom, we have the core systems. Then, in the engagement platform, we have IT services to link the Experience Layer to these systems giving IT control over what happens here.\n\nThen we introduce an e-business portal manager, a graphical user interface for the business user to manage the customer portal. I’ll show you this in a few seconds.\n\nAnd finally we have the Bank 2.0 Customer Portal where the customer is in control and it’s accessible via any device.\n
  • I’m not going to show how the IT services work, but will dive directly into the customer and business part. \n\nThis final demonstration, gives you real insight into the control we created for customer, business and IT, across multiple devices.\n
  • I shared with you our vision of Bank 2.0 and Engagement Banking.\n\nNow, how can we help you to bring this into practice in your organization?\n
  • We are Backbase\n\nWe deliver a white label Bank 2.0 Portal \nalong with Customer Engagement Services\n
  • We deliver globally with customers on all continents and offices in Amsterdam, The Netherlands and New York, United States.\n
  • We deliver with partners. We are not alone. We have local and global partners that are specialized in Backbase Portal and have done multiple projects.\n
  • We deliver to big customers like ABN-Amro, ING, Barclays, UBS and Bank of America.\n
  • We deliver Bank 2.0\n
  • Thank you.\n\nContact me at jelmer@backbase.com or on tweet @jelmerdejong if you would like to receive more information, or setup a personal demonstration for your company or team.\n

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