Isn't the banking experience too serious to be left to bankers?

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Paolo Barbesino, First VP, Internet & Mobile Banking, CEE Retail, UniCredit Group Austria

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Isn't the banking experience too serious to be left to bankers?

  1. 1. CIS International Banking ConferenceKiev, 5 June 2013Paolo BarbesinoBank Austria Unicredit GroupFirst VP, Internet & Mobile Banking CEE RetailISN’T THE BANKING EXPERIENCE TOO SERIOUSTO BE LEFT TO BANKERS?
  2. 2. CUSTOMER EXPERIENCE EVENTUALLY MADE IT TO THE BANKINGRADARSource: Efma Journal No. 238 May/June 201351The subject of customer experience in retail banking has never been more important.Customer behaviours, expectations and needs are changing very fast and competitivepressure is growing – not only from inside the industry, but from non-traditional players suchas retailers who are increasingly claiming a share of the customer’s wallet and who, manywould argue, are better set up to deliver an enhanced experience.In this feature we hear from a number of bankers and industry experts who discuss thechange in customer demands and strategies for a successful future.SPECIAL REPORT: THE CUSTOMER EXPERIENCEMeetingexpectationsThe subject of customerexperience in retail banking hasnever been more important.Customer behaviours, expectationsand needs are changing very fastand competitive pressure isgrowing – not only from inside theindustry, but from non-traditionalplayers … who are increasinglyclaiming a share of the customer’swallet and who, many would argue,are better set up to deliver anenhanced experience.“”
  3. 3. THE FOCUS ON CUSTOMER EXPERIENCE IS EXPECTED TO BRINGABOUT A NEW GOLDEN AGE IN THE INDUSTRYSource: CEE Retail elaborations based on McKinsey & Co: “In search of a sustainable model for retail banking”SUSTAINABLEGROWTH &PROFITABILITYKEY COMPONENTS-  Standardization-  Product simplification-  Process simplification-  Platform consolidation-  Channel de-siloing-  MC/CRM integration-  Big data-  Social media foothold-  Product & service innovation
  4. 4. 3INSIGHTS FROM THE FIELD:HOW BANKING FITS IN THE LIVES OF OUR CUSTOMERS
  5. 5. 4BANKING IS NOTA DESIRABLE EXPERIENCE
  6. 6. MASS SERVICECOMFORTABLEUNCOMFORTABLEPERSONALIZED SERVICEBRANCH EXPERIENCEFALLS SHORT OF COMFORT AND PERSONALIZATIONCAR SHOOWROOMSSPAS & BEAUTY SALONSCINEMAS & THEATERSBOWLINGBARS, CAFES, RESTAURANTSINTERNET CAFESSERVICE CENTERSBOX OFFICES & RAILWAY BOOKING OFFICESTRADING CENTERS PHARMACIESHOSPITALS & DENTISTSDRY CLEANINGPOST OFFICESBANKBRANCHES
  7. 7. 6IS THE BANKING EXPERIENCE ANYBETTER ON SCREENS?
  8. 8. 7THEON-SCREENBANKINGEXPERIENCEREMAINSPOOR
  9. 9. WITHOUT A SERIOUS UPGRADE OF THE ON-SCREEN FRANCHISE BANKSWON‘T SUCEEED IN THE NEW DISTRIBUTION MIXSource: CEE Retail elaborations based on BCG, Oliver Wyman, Mckinsey & Co, CEE internal data-  Branch-  Contactcenter-  MSF-  ATM-  PC-  Smartphone-  TabletATTRACT ENGAGE ACQUIRE TRANSACT X/UP-SELL RETAINAS ISlowest relevancehighest relevanceON-SCREENPERSONALDistribution mix across personal & on-screen channelsTO BEATTRACT ENGAGE ACQUIRE TRANSACT X/UP-SELL RETAINA HUGE DIFFERENCE REMAINSBETWEEN THE 65% OF AVERAGE DAILYINTERNET USERS AND THE 25% OFONLINE BANKING USERSON-SCREEN INTERACTIONS ARE SETTO GROW THEIR IMPORTANCE ALONGTHE WHOLE CUSTOMER JOURNEYFROM TRANSACTIONS TO SALES ANDRELATIONSHIP MANAGEMENT
  10. 10. 9CAN BANKS SET STANDARDSIN THE ON-SCREEN EXPERIENCE?
  11. 11. INTERNET IS MORE THAN ABANKING CHANNELExpectationsabout what userswill find onbanking websitesare set by theremaining 99%!Users attention isa scarceresource forbanks!less than !of online time isspent on bankingwebsites!1%Source: The Nielsen Company, 2011
  12. 12. ON-SCREEN EXPERIENCE CANNOT LEAVE ANYTHING TO IMPROVISATIONUX on personal channels•  Sketched on a canvas•  Often unpredictable•  Flexible process to accommodatevirtually any development in theinteraction•  Personal soft skills to prevent thecounterpart to interrupt theinteractionOn-screen UX•  Blue-printed from end-to-end•  What cannot be predicted cannot beacted•  Process needs to be designed inadvance to accommodate a small setof developments in the interaction•  The counterpart is always one clickaway from interrupting the interactionOK, I’ll get back to youas soon as I find asolution. I make sure itwon’t take long.
  13. 13. DESIGNING THE EXPERIENCE IS MUCH MORE THAN PUTTING THINGS ONA SCREEN: IT’S MAKING AN ORGANIZATION WORK ACROSS BOUNDARIESThe Elements of User ExperienceA basic duality: The Web was originally conceived as a hypertextual information space;but the development of increasingly sophisticated front- and back-end technologies hasfostered its use as a remote software interface. This dual nature has led to much confusion,as user experience practitioners have attempted to adapt their terminology to cases beyondthe scope of its original application. The goal of this document is to define some of theseterms within their appropriate contexts, and to clarify the underlying relationships amongthese various elements.Jesse James Garrettjjg@jjg.netVisual Design: graphic treatment of interfaceelements (the "look" in "look-and-feel")Information Architecture: structural designof the information space to facilitateintuitive access to contentInteraction Design: development ofapplication flows to facilitate user tasks,defining how the user interacts withsite functionalityNavigation Design: design of interfaceelements to facilitate the users movementthrough the information architectureInformation Design: in the Tuftean sense:designing the presentation of informationto facilitate understandingFunctional Specifications: "feature set":detailed descriptions of functionality the sitemust include in order to meet user needsUser Needs: externally derived goalsfor the site; identified through user research,ethno/techno/psychographics, etc.Site Objectives: business, creative, or otherinternally derived goals for the siteContent Requirements: definition ofcontent elements required in the sitein order to meet user needsInterface Design: as in traditional HCI:design of interface elements to facilitateuser interaction with functionalityInformation Design: in the Tuftean sense:designing the presentation of informationto facilitate understandingWeb as software interface Web as hypertext systemVisual Design: visual treatment of text,graphic page elements and navigationalcomponentsConcreteAbstracttimeConceptionCompletionFunctionalSpecificationsContentRequirementsInteractionDesignInformationArchitectureVisual DesignInformation DesignInterface Design Navigation DesignSite ObjectivesUser NeedsUser Needs: externally derived goalsfor the site; identified through user research,ethno/techno/psychographics, etc.Site Objectives: business, creative, or otherinternally derived goals for the siteThis picture is incomplete: The model outlined here does not account for secondary considerations (such as those arising during technical or content development)that may influence decisions during user experience development. Also, this model does not describe a development process, nor does it define roles within auser experience development team. Rather, it seeks to define the key considerations that go into the development of user experience on the Web today.task-oriented information-oriented30 March 2000© 2000 Jesse James Garrett http://www.jjg.net/ia/
  14. 14. DESIGNING THE ON-SCREEN BANKING EXPERIENCE SHOULD COVERBOTH EARNED (SOCIAL) AND OWNED MEDIA
  15. 15. THE INTERACTION BETWEEN EARNED AND OWNED MEDIASHOULD BE ATTENTIVELY DESIGNED IF CUSTOMERSATISFACTION IS TO BE ATTAINED
  16. 16. 15“WHEN I ENTER MY ONLINE BANKINGI DON’T WANT JUST TO SEE MY ACCOUNT.I WANT TO ENTER MY BANK.”
  17. 17. RISING CUSTOMER EXPECTATIONS CALLS FOR A NEW ON-SCREENBANKING EXPERIENCEone-clicksocialmediae-commercemobilerich mediadeal of thedaycloudmash-upWeb 2.0 user experienceSource: Next-Generation Digital Financial Services, Forrester, February 2011“Rising customer expectations and the growing importance of the Web and mobileas sales and service channels mean that financial services e-Business executivesneed to fundamentally improve the way they serve customers via digitalchannels.”New user experience attributes for on-screen banking
  18. 18. ON-SCREEN BANKING EXPERIENCE SHOULD EVOLVE FROM MEETINGDUMB TRANSACTIONAL NEEDS TO A FULLY INTELLIGENT TOUCHPOINTNUMBEROFFUNCTIONALITIES-Customer support/relation managementPre-sales/salesTransactional bankingOn-screen Banking - AS ISUSER EXPERIENCE +On-screen Banking – TO BE-+
  19. 19. USERS, NOT BANKERS, SHOULD FIND USING THE SERVICE DESIRABLE18how easy it is tointeract with theserviceDESIRABILITYUSABILITYPLEASURABILITYUTILITYhow pleasurablethe interaction isat the emotionallevelwhat the servicedoes, or offers tocustomer, at afunctional level
  20. 20. •  manage exceptions, not be overwhelmedby them•  get rid of functionalities that appeal tobankers but customers barely use, addfunctionalities that users miss•  rearrange and prioritize functionalitiesaccording to user’s expectations•  simplify overall navigation•  streamline processes and reduce clicks•  provide additional tools to help customersmanage their money•  create context for commercial CTAs•  always offer remote interaction with staff•  use natural language, avoid bankingjargon•  steal as much as you can from the beston-screen experiencesTHE ON-SCREEN BANKING EXPERIENCE SHOULD FINANCIALLYEMPOWER CUSTOMERS IN A 2.0 ENVIRONMENT
  21. 21. 20GET RID OFFUNCTIONALITIESTHAT APPEAL TOBANKERS BUTCUSTOMERSBARELY USE
  22. 22. ADD FUNCTIONALITIES THAT USERS MISS: CONVENIENCE
  23. 23. REDUCE CLICKS LEVERAGING SHORTCUTS22
  24. 24. USE NATURAL LANGUAGE, AVOID BANKING JARGONIn lieu of—> Instead ofOpt—> ChooseProceding—> PreviousLast day of preceding month—> Last day of previous monthFulfill your needs—> Meet your needsPurchase—> BuyCountry of residence—> Where you live inYou may be required to provide…—> We may ask you to provide…We will assist you—> We will help youSubmit your application—> Send your applicationThe original investment will be returned—> We will return your original investmentRemittance—> PaymentNotify—> Tell usPrevailing exchange rate—> Exchange rate at the timeSurrender value payable—> Amount you get backSource: http://speakhuman.tumblr.com/
  25. 25. PROVIDE ADDITIONAL TOOLS TO HELPCUSTOMERS MANAGE THEIR MONEY
  26. 26. 25SIMPLIFY OVERALL NAVIGATION
  27. 27. 26ADOPTING CONSISTENTINTERACTION PATTERNS…
  28. 28. AND HARMONIZING THEM
  29. 29. UNTIL EVERYTHING RUNS SMOOTHLY INCLUDING DETAILS28
  30. 30. THANK YOU!

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