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Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels

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Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels was presented on 26 March 2015 at a webcast from Capgemini and American Banker. Topics include: Why customers are not using low cost digital channels to purchase banking products as much as banks would like; how some banks have succeeded in influencing customer preferences by adopting a more personal, human approach in their digital interactions; how banks can create opportunities to right-sell and cross-sell leveraging the latest innovations in customer engagement technology. Visit www.capgemini.com/odigoforbanks or www.capgemini.com/digitalbanking for more information.

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Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels

  1. 1. Experience-Led Digital Banking Getting Customers to Buy with Low Cost Digital Channels March 26, 2015
  2. 2. 2The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Agenda Topic Introduction Today’s Banking-Customer disconnect Redefining and making experiences come to life - Creating digital interactions to capture right and desired customer behaviors Delivering Experience-led banking - Helping Banks Target Sell Q&A
  3. 3. 3The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Poll What percentage of your customers are applying for and buying products via digital channels including the internet, mobile, phone and social media : • Less than 30% • 30% - 50% • 50%- 75% • More than 75%
  4. 4. 4The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Today’s Banking-Customer disconnect Source: Capgemini Financial Service Analysis, 2015; 2015 Retail Banking Voice of the Customer Survey, Capgemini, 2015 Retail Banking Executive Interview Survey, Capgemini Phone Nearly 70% of bank executives would prefer their customers apply for products via the internet, mobile or phone Internet Mobile What Bankers Want…… 60% of customers are applying for and buying products in branches or after meeting face to face What Customers are Doing… Branch
  5. 5. 5The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Failure to optimize service via digital or phone channels has significant implications  Impact on customer flight risk factors i.e. making referrals, purchasing additional products, willingness to switch  Securing the next up and coming customer base  Gen Y channels of choice are mobile and internet  Gen Y doesn’t visit branches often  Non-Bank players are already stealing market share Agility, innovation and attractive digital value propositions via the channels your customers prefer
  6. 6. 6The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. What makes customers resist buying from low cost, digital channels?  Absence of personalization “You don’t know me, my preferences, my history, or my choices”  Inefficient self-service systems “I just want to do it myself. Why is this so complicated and repetitive?”  Awkward shifts between assisted and non-assisted channels “It’s so obvious your systems aren’t connected. Your agents don’t even know what prices are available online.”
  7. 7. 7The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved.
  8. 8. 8The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Creating digital interactions that capture the right and desired customer behaviors Examples of Customer Digital Interactions Corresponding Preferred Behaviors Customer seeks product information from bank’s website via tablet or mobile Customer discovers new bank offer and wants to learn more via mobile application Customer checks bank balances and transactions via mobile application
  9. 9. 9The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Delivering Experience-led banking Give the customers what they want Personalized & Tailored to Segments of 1 First Contact Resolution Omni-Channel  Any time - Any place  Any channel- Any device  Seamless bounce between channels to complete the journey  Tailored interaction based on customer knowledge  Connect to someone who knows and understands what customer wants  Products and services customized to segments of 1  Meaningful guidance to select the right product  Love to help themselves – intelligent self-service  Connect this instant, no waiting  Connect to the right person and be understood the first time Experience-led Banking
  10. 10. Delivering Experience-led Banking Helping Banks Target Sell with First Contact Resolution
  11. 11. 11The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Connect your customer to the Right expert first time Level 1 Self-service Level 2 High-touch Use next best action & next best agent  Use automated contact distribution engine (Skills, priority, remembered agent, BPM)  Recognize your customer (Caller ID, biometrics, web form, mobile data, CRM)  Provide agent with 360˚ view right away (CRM) Qualify & route customer as fast as you can  Natural language understanding  Speech recognition, Speech analytics  Mobile visual IVR  Virtual agent chat  Web community, FAQs
  12. 12. 12The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Leading Bank First contact resolution from any touch point with 98% accuracy 20% 38% 41% 1% overflow Want to talk to my account manager Car Insurance Block my credit card! Want to check my balance Stock information Real estate investment Hello. Welcome to Bank4All. How can I help you ? Before: X High call volumes for assisted channels X High abandoned calls rate X Multiple toll-free numbers, hotlines, branch numbers X Lengthy IVR menus Efficient & modern voice portal  Single access number for all services & branches  Conforming branding  Improved call qualification and superior customer experience  Remembered customer journey  Analytics Before After
  13. 13. 13The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Large Multinational Bank Self-service where it makes sense & efficient cloud routing Before: X Long waiting time for low value service X Multiple toll-free numbers, hotlines, branch numbers X Poor transfer quality (blind, no customer information) due to lack of integration with different systems  Lower call volume: agents focus on high value interactions  Best service: customers prefer self-service for: Authentication (account#), account balance, branch locator & credit card activation  Simpler – 1 single entry point of contact  Call qualification & allocation to different destinations Before After 3Mminutes per year Self-service IVR New automated services with Speech Recognition & DTMF 600k Security Access Codes, Balance thresholds alerts SMS per year Self-service 400branches 10,000employees (users) Cloud routing
  14. 14. Delivering Experience-led Banking Helping Banking Target Sell by Providing Elegant Connections and Transitions
  15. 15. 15The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. WWW SMS Whatever the device, the preferred channel Always the customer’s preferred channel!  Customer’s choice, profile  Behavior analytics, Interaction logs & data (big data) All channels & all touch points  Video, voice, chat, messaging, SMS, email, social media, M2M  Web, tablets, phones, watch & other connected devices: WebRTC, native/hybrid apps, web-responsive apps Consistent and smooth transition between assisted and non-assisted channels  Universal queue, multichannel engine  Presence & skills management  Virtual contact center on mobile device (sales, workers on field)
  16. 16. 16The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Help your customers complete their journey the way they want I don’t understand this transaction on my account statement I request chat with virtual assistant I am notified I check I express concern I engage I receive a direct message that the bank would like to explain the charges Charges are high and I tweet my annoyance I go online to check my account statement I receive a notification that my credit card statement is available An agent takes over to explain the detail I understand the charges and I’m able to get a waiver I tweet my satisfaction with the service I received
  17. 17. 17The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Large National Bank & Insurance Firm 11million customers interacting on channel of their choice Before: X No integration of branches with the digital channels X Inconsistent view of services across channels X Organizational complexity was a roadblock to a seamless omni- channel experience Integrated cloud engagement center with voice, video, chat, text, email channels  Seamless customer journey across multiple channels  Ability for customers to interact in channel of their choice  Flexibility and agility to deploy a new customer service  Global view & monitoring of the customer service 17,000 branches16+ million interactions Before After
  18. 18. Delivering Experience-led Banking Helping Banks Target Sell by Providing Personalized Experience to a Segment of One
  19. 19. 19The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. One-to-one experience: start the conversation! Personalized experience = know your customer = Big Data  Actionable data from interactions records  Speech analytics, sentiment detection  360˚ view of the customer: integration with CRM (sales & service clouds) Your branch advisor & investment specialists know the customer  Make them part of the customer service! (Cloud routing, ACD, virtual contact center, presence management, social enterprise)  Power them with peer-to-peer communications tools WebRTC, Instant Messaging, Secure Messaging from Mobile/Web, Co-browsing. Web1.0 is over… so is Mobile1.0! All devices become connected  Supplement your mobile apps with real communications capabilities  Direct interactions with agents or advisors from the app Appointment scheduler, e-signature, messaging, video, call with no waiting time, file upload
  20. 20. 20The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. M-Banking with conversation Make an appointment Visual IVR Private Messaging SOS Button Every day Banking
  21. 21. 21The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Conversation extends to connected devices
  22. 22. 22The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Seamless personalized experience beyond technology Let your customers start Anywhere, Anyhow. Complete their journey as they want Enable them to enjoy the experience beyond the barriers of technology Have your customers carry the bank in their pocket Simplify your Mobile apps and make them conversational Future (now): One experience. Across all connected devices. Each has specificities and typical usage.
  23. 23. 23The information contained in this presentation is proprietary. Copyright ©2015 Capgemini. All rights reserved. Questions? www.capgemini.com/odigoforbanks Watch us on Youtube Explore how Odigo can help you with a personalized Demo Register here or e-mail us at banking@capgemini.com
  24. 24. The information contained in this presentation is proprietary. © 2015 Capgemini. All rights reserved. www.capgemini.com About Capgemini With more than 145,000 people in 40 countries, Capgemini is one of the world's foremost providers of consulting, technology and outsourcing services. The Group reported 2014 global revenues of EUR 10.573 billion. Together with its clients, Capgemini creates and delivers business and technology solutions that fit their needs and drive the results they want. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business Experience™, and draws on Rightshore®, its worldwide delivery model. Rightshore® is a trademark belonging to Capgemini Thank you for joining us!

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