Financial Services 2009

1. Online and mobile
are priority
battlegrounds in
our vision to be one
of the world’s great
companies.
Online Banking is a
key enabler to help
earn and retain all
our customers’
business.
Online and mobile are priorities
in our 2017 Strategy “We want to create a
relationship platform that
places the customer at the
centre. Transforming from
transaction based
banking, to an
environment where every
customer interaction
meets their experience
promise.”
Harry Wendt
General Manager, Online & CSC s
To be one of the world’s great
companies, helping our
customers, communities and
people to prosper and grow.
Why online is important
Active online customers – as at June 2011
+9%
growth in active
0nline Banking
customers (FY10)
growth in active
0nline Banking
customers (FY11)
+5%
+14%
(That’s over 600,000 new active customers in last 2.5 years!)
Trillion!
OVER
year on year growth
Million
Why mobile is important
Online helps drive deeper relationships with our priority
segment customers who are the most active online.
Mobile banking helps to create deeper relationships and
increases the chances of holding onto more valuable customers.
of Mobile Active customers
have 4 or more products.
Mobile Customers are more
likely to recommend Westpac:
An average Online active customer has
1.5x higher footings than an average RBB
customer, while an average mobile
customer has 4x higher footings.
2,103,699
Online Banking
continues to grow…
Growth in online sessions (YTD)
180%
Active Online Banking usage is highest
in our priority segments:
Active OLB (% of OLB Registered)
69%
80%
85%
85%
Mass Retail
Mass Affluent
SME
Commercial
26.8unique visits to
westpac.com.au
in June 2011
total transaction
value FY10
Business Online
Sales (Merchants)
FY10 ➜ FY11
0%
20%
40%
60%
80%
100%
76%
Growth in mobile sessions (YTD)
NPS (Mobile)
-20
Jan 11 Feb 11 Mar 11 Apr 11 May 11
0
20
40
60
80
626,947
As at June 2011, we have
Mobile Active
customers
Doing the
right thing
for customers,
right now.
Our brand promise
Our customers are people that take
responsibility for their future. We
believe the best thing we can be for
them is a bank that’s smart and
reliable in doing the right thing for
them, right now.
Succcessful
solutions
live here
Establishing a deeper knowledge
of who our priority customers
are and understanding their
desires and needs can help us
build better products and
services.
It’s not just about
delivering what our
customers tell us, it’s
about finding out how
customer needs fit with
our business strategy.
Understanding customer
needs and business
drivers can help inform
our technology strategy.
OTP puts customers at the centre…
Understanding our customers
What OTP means for customers What OTP means for Westpac
Viability Feasibility
Desirability
(Customer)
(Business) (Technology)
Affluent
Commercial
SME
Customer Experience Promises Customer Personas
See now, to realise the next.
Westpac Online
Everyday Banking
The intelligent aide that powers my financial wellbeing.
Westpac Online
Advanced Banking
Customer goals
What OTP means for staff
Business goals
Advocacy
Cross-sell
Up-sell
Advocacy
• Making it easier for customers to access their financial
details and to make payments
• Providing customers with insights into their financial
behaviour and providing education
• Providing customers with access to relevant information to
help them plan for the future
Help me be in
control of my
finances
• Provide me with the control I need for permissions and access,
for reconciliation, and for data usage.
• Let me personalise my banking experience
• Allow me to control how I interact with you
• Be available when I need you
• Allow customisation and integration with third party
applications
• Provide me the ability to view financial data in powerful ways
• Assure me that my banking is secure
Empower me to
make financial
decisions
• Help me learn about managing my finances
• Enable me to share (collaborate/budget/save)
• Give me visibility and insight of my financial situation
• Give me the freedom to implement the solutions I’m
comfortable with.
Know me
• Understand me and reward me for my loyalty
• Tell me where I stand, keep me informed
• Provide me with insights and motivation to achieve my goals
• Provide me with a seamless experience across the bank
• Help me plan for my future (tools, calculators etc.)
• Show a genuine interest in my business and how you can help
me grow
Simplify
things
• Make it easy for me to set up my banking
• I only want access to things that are relevant to me
• Minimise the risk of duplication and chance of errors
• Assist customers to acquire the right product to at the right
time to meet their needs
• Provide customers access to the relevant information and
tools and calculators to make an informed decision
• Make it simply for customers to acquire the right product
across devices
• Providing customers with relevant information on the options
available and the benefits will lead to increased products per
customer
• Making it easy for customers to upgrade their exisiting
products will aid up-selling opportunities
• Allowing Westpac staff to provide a richer customer service
by providing better tools and information for bankers
• Providing customers with access to their financial information
across devices can lead to increases in active usage and
increased products per customer
• Providing customers with greater insight to their financial
affairs will increase customer loyaltly
• Providing customers with the capability to plan for the future
Superior insight and powerful control,
enabling business success.
Westpac Online
Complex Organisation
Advise & encourage
Visual & engaging
Awesome simplicity Know me
Create quality time
How will OTP feel like?
Online banking is not a
web site. It is a service
that spans multiple touch
points. We need to
consider how online
banking, the public web
site, mobile and other
touchpoints all work
together to deliver value
to customers.
Make your
money work.
Learn more
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G’day
Reflect our brands
“ I finally have my small business
where I want it, I’m in control.
Where should I take it to next?”
Nic Tsalidis, 42
Small-medium Business Owner
“ Relationships are important
and I expect sophisticated
solutions from partners who
deliver results.”
Hugo Westwood, 38
Part owner & CFO
Commercial business.
“ To get ahead in life you have to
plan. I know I can make my money
work for my family.”
Chris Wilkinson, 45
Organised & ambitious
Consumer customer
• Reduce time it takes to service a
customer request
• Enable me to identify sales
opportunities while servicing a
customer
• Help me initiate a conversation
with customer
• Give me a simple and effective
referral system
• Provide me with a greater sense
of control.
• Provide tools to better manage my
client portfolio and offer clients a
premium service
• Help me prepare for client meetings by
providing clients’ financial picture and
enable me to easily identify sales
opportunities
• Provide me with effective and flexible
tools to conduct a needs conversation
• Reduce my admin duties.
• Reduce my administrative duties
• Provide effective and flexible tools
to conduct a needs conversation
• Provide tools to better manage
customer follow ups and sales
opportunities
• Encourage and promote a
competitive sales environment.
• Help me with the sales side of her role
(e.g. organising events and networking)
• Provide me with tools to monitor the
Branch’s sales performance and easily
compare with other branches.
• Help me develop a sales mentality in the
Branch
• Provide me with tools to train, up-skill and
motivate staff
• Enable me to manage the Branch’s
operations.
Staff Personas
“ In my life, family
comes first. At work,
I like keeping things as
they are, doing one
thing at a time, and
being reassured that
I’m doing a good job.”
Sue-Anne Moore
The Processor
“ I want to grow and
develop my client
portfolio, and ensure
that my clients receive
a personal and
premium service.”
Matthew Richards
The Portfolio Manager
“ I want to promote a
culture of sales and
success in the branch.
I want to grow the
business and my branch
to be number one.”
Lynne Parker
The Director
“ I do what I can to
outperform others
and need systems
that help me do this.
I want to be
promoted quickly.”
Troy Leonakis
The Opportunity Creator
How will OTP deliver our
customer promise?
OTP Release Plan
• Understand the customer
and provide them with
relevant tips and offers to
improve their financial
circumstances
• A relationship based
platform that "knows" and
"recognises" the customer
and their loyalty to Westpac
• Provides customers with
account monitoring
capability with alerts and
notifications to better
manage their finances
• Gives the customer control
by providing them with
secure two way messaging
with the bank, service
requests and ability to
create insightful reports
• Useful tools which enable
the customer to understand
their own needs, plan their
finances and select
appropriate products
• Provide customers with the
ability categorise and
comment on their
transactions to understand
their spend
2012
Release
2.2
2012
Release
2.1
2012
Release
1
2013
Release
2.3
Release 1 is focussed on
delighting the customer with all
of the online banking
fundamentals, addressing key
customer detractor points and
leveraging the vendor solution to
build into the future.
Release 2.1 will deliver
remainder of core capability
de-scoped from R1 – e.g.
additional reports, products,
accounts, entiltlements, service
requests.
Further extensions to mobile
capability (including iPad),
messaging and payments
Release 2.2 will bring new
capability for Consumer and
Bcustomers onto a common
platform.
It will include Personal Financial
Management tools, payroll
support, communications tools,
interactive calendar and targeted
needs based tips.
Release 2.3 will will ensure
ongoing alilgnment of emerging
customer needs and market
changes.
We will provide a single platform
for business customers and
enhance channel management
capability.
Key features – R1
• Personalised and customisable online dashboard
• Account monitoring capability, with alerts, notifications,
and two way messaging
• Customer can create their own reports on real time or historical data
• Tools, forms and calculators to support priority consumer and
business products
• Additional account information, including ability to categorise
and comment on transactions
• Needs based offers and targeted online campaign management.
OTP
vision
“ To create an awesome
online banking experience
loved by our customers.”