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JANUARY 2012
                                                                                                                                                                                                  1




simple
     The way the world
                            bank
     calls our customer
     centric bank


                  Winning the customer´s trust
   Customer centric, the new banking
              Top experiences
                    New areas of growth



    also
  in this
   issue                            Trending issues
                                    Technology trends Edge January 2012 | SIMPLE BANK
                                                  Innovation                                                                                                                                      page 1
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
new
                      the secret of

                 banking is...
                                                                                                          simple
T          he world has, is, and will probably continue to struggle
           through a prolonged period of unparalleled and discontinuous
change. In order to address the shift, businesses and institutions
have been exploring new business/operating models. Some
industries are moving away from traditional “product-focused”
models and beginning to embrace “customer-centric” models


Customer-centric” business models blur the line between traditional
notions of value propositions, channels, and customer relationships. In
the new model, it seems that the Channels are seamlessly integrated and
offer an assortment of “touch points”. The customers, when choosing to
purchase and receive products, freely decide what kind of relationship
they want to maintain at any given moment, for any given reason.

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 2
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Winning the

             trust
                                          customer´s

                                        Shift happens and, in the business world,
                                        organizations are looking for new business model
                                        innovations to minimize risks and to maximize
                                        opportunities. The idea is clear: from pushing
                                        products to cultivating customers relationships.


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 3
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
S        hift happens and it’s happening every-
         where and all of the time. Some would
even say that we are in the midst of a Coper-
                                                                                                         Over the last six years, CEOs and leaders
                                                                                                         worldwide noticed:


nican Revolution:                                                                                                 2006 The frecuency of change.


         1989 The fall of the Berlin Wall. “We are                                                                2008 The velocity of change.
      free to choose our future.”
                                                                                                                  2010 The complexity of change.
        1994 Netscape Navigator browser leads
      the way. “We can find out anything that                                                            Shift in business models
      we don’t know already.”                                                                            In order to tackle the shift, business leaders
                                                                                                         and organizations have been exploring new
         2002 Blackberry hits the streets. “We                                                           business model innovations to minimize
      can get stuff done anytime, anywhere.”                                                             risks and to maximize opportunities. As a
                                                                                                         result of the aforementioned explorations,
        2003 MySpace provides our space. “We                                                             there seems to a clear transition from “prod-
      no longer need advice from an expert; we                                                           uct-focused” business models to “customer-
      can tap into the wisdom of crowds.”                                                                centric” business models.


In the business world, the shift and its influ-                                                          Shift in Value Proposition
ence are evident as well. Disruptive changes                                                             Traditionally, or from a “product-focused”
in technologies, customers, competitors, and                                                             point of view, Customers Relationships and
the environment are wreaking major havoc                                                                 Channels were used to distribute Value
in the business environment. The last three                                                              Propositions (products) to a given Custom-
Global CEO Studies published by IBM shed                                                                 er Segment. In “customer-centric” business
some light on the CEOs’ perception of change.                                                            models, it seems that the Channels are seam-
                                                                                                         lessly integrated and offer an assortment of
                                                                                                         “touch points”. The customers, when choos-
                                                                                                         ing to purchase and receive products, freely
                                                                                                         decide what kind of relationship they want
                                                                                                         to maintain at any given moment, for any
                                                                                                         given reason.


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 4
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Confidential / Internal use only




The fall of the Berlin Wall
                              1986
“We are free to choose our future”
November 11, 1989 East Berliners climb onto the Berlin Wall to
celebrate the effective end of the city’s partition, 31st December 1989.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 5
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Netscape lead the way
                              1994
“We can find out anything that we don’t know already”
June 3, 1996 Founder of Netscape James Clark speaks June 3, 1996 in Chicago, IL. Clark, who
founded the Fortune 500 computer systems company Silicon Graphics, founded Netscape in April
1994 with Marc Andreessen which currently employs more than 2000 people in 17 countries.



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 6
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
2002
Blackberry hits the streets
“We can get stuff done anytime, anywhere”
March 5, 2004 A traveler walks past an advertisement for Research In Motion’s BlackBerry
handheld e-mail device March 5, 2004 at O’Hare International Airport in Chicago, Illinois. According
to Don Morrison, chief operating officer of Research In Motion, the maker of the BlackBerry, the
handheld e-mail devices are used by numerous government officials on Capitol Hill.

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 7
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
2003
MySpace provides our space
“We no longer need advice from an expert;
we can tap into the wisdom of crowds”
January 20, 2007 MySpace.com co-creators Tom Anderson (C) with producer Efren Ramirez
(L) and Director/Producer Chris Barrett (R) from the film ‘After School’ poses for a portrait during
the 2007 Sundance Film Festival on January 20, 2007 in Park City, Utah.

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 8
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
customer centric,
                                           the
new banking
Demographic change and technology innovation have left a
visible impact on the way that customers interact with their
banks. In a world where the customer has taken the control,
the banks of the future must help each customer to reach his
individual goals.




I   n the past, banks built customers’ trust by
    ensuring them stability and solidity – by
promising to stay the same forever. But
                                                                                                         ers want stability and flexibility; they want
                                                                                                         banks that can guarantee their security and
                                                                                                         respond to their individual needs. In a world
the world is changing drastically. Custom-                                                               where the customer has taken control, the


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 9
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
banks of the future must become the guide                                                                into silos, with redundancies in infrastructure
that helps each customer reach her individ-                                                              and services causing disparate experiences
ual goals. In the new world, value has less                                                              for banking customers. A customer-centric
to do with understanding money, and every-                                                               model would require an agile infrastructure,
thing to do with understanding people.                                                                   which is designed with the customer as the
                                                                                                         starting point for products, services, and in-
Currently in the retail-banking sector, the “shift”                                                      frastructure. This approach would provide a
is already underway. Many actors (including                                                              consistent and unified customer experience
traditional banks, “de novo” banks, and new                                                              and, in turn, would allow the banks to capital-
“non-bank” entrants) are exploring and/or ex-                                                            ize growth opportunities, such as cross-selling
ecuting new business models. According to                                                                and upselling. Of course, “de novo” banks and
the EFMA report, Transforming Retail Banking                                                             new entrants have a competitive advantage
to Reflect the New Economic Environment,                                                                 in that they do not have to worry about di-
many banks realize that the customer-centric                                                             gesting the old “spaghetti”.
business models are the future of retail bank-
ing: “The vision of most banks is to provide                                                             Given the new reality, the banks and other ac-
their customers with a seamless, fully integrat-                                                         tors are responding to the “customer-centric”
ed and uniform experience across all chan-                                                               era of banking. This report offers a closer look
nels. (However) many banks are still years                                                               at BBVA’s unique response to the shift towards
away from achieving this.”                                                                               customer-centric banking; and also offers
                                                                                                         some concrete examples of customer-centric
One of the main difficulties for the incumbent                                                           retail banking experience of other actors; fo-
banks is the “spaghetti” infrastructure of the                                                           cusing on Flagships, Mass Market Retail Bank-
current operating model; which are separated                                                             ing, and Virtual Banking.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 10
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
world
             top experiences


               wide          In this inevitable change towards ‘customer centric’
                             banking, BBVA is leading. Major changes to the BBVA
                             business model have already begun, with the renewal
                             of the back-end systems platform and continue with
                             several front-end projects.

                             Banks like BNP Paribas, Citibank or HSBC are also
                             addressing the concerns of the ‘customer-centric’ era
                             of banking, and testing ways of creating a personal
                             rapport with customers. The vision of most banks
                             is to provide their customers with a seamless, fully
                             integrated and uniform experience across all channels.
                             Here is how they do it.”




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                               page 11
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
world 1
top experiences


wide


BBVA´s answer
At BBVA, we have been focusing on CCB since 2008; the bank
has been hard at work to ensure that the efficiency side (the
back-end) of the business model would be ready to offer a
customer-centric banking business model. With the goal of
offering complete back-end capabilities for the Customer-
Centric Bank by 2013, BBVA has mapped out its infrastructure
transformation.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 12
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
E       ach new technology delivers value, but
        the benefit to our customers and to BBVA
builds exponentially as the technologies are
                                                                                                         needs, BBVA is committed to three principles,
                                                                                                         which guided in the design of the CCB model:
                                                                                                               Accessible Distribution. “BBVA gives
integrated:                                                                                                    me different ways to do my banking, any-
                                                                                                               where, anytime.” Convenient, trustworthy,
         Customer Oriented Service and Produc-                                                                 and pervasive, channels give customers a
      tivity (Commercial Scenarios; New Core                                                                   range of ways to fit banking easily into the
      Banking; Digitalization; Operative Process-                                                              shape of their lives.
      es Redesign).
                                                                                                               Transparent Solutions. “BBVA knows what
         Customized Solution (New Core Banking;                                                                I need, and offers solutions that fit my life.”
      Commercial and Risk Intelligence; Private                                                                In a web-based world dominated by social
      Cloud; MIS Electronic Financial Record).                                                                 networks, BBVA has access to enormous
                                                                                                               amounts of customer data—and a rich op-
         Convenient and Seamless User Interface                                                                portunity to provide its clients with solutions
      (Commercial and Risk Intelligence; NICE;                                                                 custom-made to suit their needs. Instead of
      Mobile Channel; Public Cloud; New Inter-                                                                 the expert, whose value comes from know-
      net).                                                                                                    ing more than his customers, the CCB will
                                                                                                               be the tailor who knows his customers bet-
          Collaborative Relationship and Smart                                                                 ter—and can recommend each of them
      Processes (MIS Electronic Financial Re-                                                                  what fits best.
      cord; Collaborative Front End; New Inter-
      net; Customer Processes Redesign; New                                                                    Human Understanding. “The people of
      Branch Design)                                                                                           BBVA really listen to me. I can always get
                                                                                                               the guidance I need to figure out how to
         Customer Centric Banking (New Branch                                                                  get where I want to go.” Instead of selling
      Design; “Lola” (Online Banking Virtual As-                                                               to their customers, BBVA staff will work
      sistant)                                                                                                 closely with them—to help clients under-
                                                                                                               stand what they really want from their fi-
For the value side (the front-end) of the busi-                                                                nancial futures, and map out the steps
ness model, in putting customers at the cen-                                                                   they’ll need to get there.
ter of experiences that meet their distinctive


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 13
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Easy bank




                                                                                                                                                                     ABIL ATM




                                                                                                                                                                       Flagship




                                                                                                                                                                           Kiosk




Walking into de Easy Bank, the customer steps into a
welcoming space where he can do what he needs to
get done, on his own or with help from staff



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 14
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Easy bank




                                                                                                                                                                     ABIL ATM




                                                                                                                                                                       Flagship




                                                                                                                                                                           Kiosk




BBVA ABIL ATM revolutionary banking machine. ABIL is a revolution
regarding the traditional self-service. It has a large touch screen,
direct access to all common operations and has a surface that allows
support personal items to operate with greater comfort.



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 15
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Easy bank




                                                                                                                                                                     ABIL ATM




                                                                                                                                                                       Flagship




                                                                                                                                                                           Kiosk




In BBVA Bancomer customers can access specialized advice and
receive personal reassurance, at the same time flagships allow
BBVA to buid out its brand, as well as offer customers day-to-day
banking via the easy bank area of the branch.



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 16
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Integrated to customer’s social networks
      and activities

                                                                                                                                                                    Easy bank




                                                                                                                                                                     ABIL ATM




                                                                                                                                                                       Flagship




                                                                                                                                                                           Kiosk




These automated banking centers are avaliable
to customers 24 hours a day offering a hassle-
free way to do any of the everday transactions
they need.



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 17
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Based on customer insights and the three de-                                                                   bank a chance to create an experience
sign principles, the BBVA CCB model offers:                                                                    for customers that weaves deeply into
                                                                                                               the fabric of their ordinary lives. Examples
         More channels, more granular, and high-                                                               include: getting cash; making deposits,
      ly functional                                                                                            changing address
                                                                                                               		
        Consistent, simple, and collaborative uni-                                                             My Life. Interestingly, customer modal-
      versal user interface                                                                                    ity changes as they move between these
                                                                                                               different needs. The same customer who
        Real time intelligent processes                                                                        cares most about convenience when she’s
                                                                                                               performing everyday transactions want to
         Highly customized solutions based on                                                                  spend a great deal of time researching op-
      customer understanding                                                                                   tions when planning for the long-term. Ex-
                                                                                                               amples include: Buying a home, planning
        Open to social networks and the web                                                                    for retirement, saving for education


                                                                                                         Touch points
The BBVA Bank of                                                                                         Through a flexible network of virtual and
                                                                                                         physical touch points, BBVA offers custom-
the Future: Customer                                                                                     ers a wide range of connections to the ser-

Centric Bank of 2020                                                                                     vices they need, available when they need
                                                                                                         them, in the ways that best fit their lives.
Customer needs
Based on conversations and collaboration                                                                 By dividing our current branch model into
with customers, BBVA discovered that there                                                               a more granular set of components, we will
are two forms of interaction with customers.                                                             create an array of options that enable cus-
In other words, there are two kinds of finan-                                                            tomers to choose the banking experience
cial needs: My Money (Getting Stuff Done)                                                                that feels most comfortable—thereby weav-
and My Life (Financial Well Being).                                                                      ing their relationship with BBVA more fully
                                                                                                         into our customers’ daily lives.
      My Money. Because everyday transac-
      tions happen so frequently, they offer the                                                         At the same time, this modular approach en-


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 18
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
ables us to adapt our presence to the spe-                                                                     BBVA assistant is available to help.
cific needs of different markets—for example,
to focus on low-cost, more automated chan-                                                                     Point of Sale Banking & Pocket Bank.
nels in some regions; and a greater number                                                                     Customers can do basic banking trans-
of flagship stores to serve various needs                                                                      actions while shopping, using the cashier
such as offering specialized advice, reassur-                                                                  to perform ATM-like functions; and use
ance, brand building, marketing, client attrac-                                                                their phone to perform routine transac-
tion and capture; as well as offer day-to-day                                                                  tions through local businesses – including
banking via the Easy Bank area of the bank.                                                                    making deposits and getting cash. These
Anchored to the internet, this flexible, modu-                                                                 pocket banks extend BBVA reach to more
lar array enables us to tailor our offerings to                                                                remote areas where customers cannot
the needs of different customers, while deliv-                                                                 easily get to a physical branch.
ering bank services across a wide range of
regions effectively and efficiently.                                                                           ATM. The new BBVA ATMs improve pri-
                                                                                                               vacy, ease of use, and simplicity. All opera-
Physical Touch Points                                                                                          tions, including PIN entry, are completed
      Flagship. Customers can access special-                                                                  on a 19-inch touch screen that displays
      ized advice and receive personal reas-                                                                   only information relevant to the transac-
      surance; at the same time flagships allow                                                                tion at hand. All cash, statements and re-
      BBVA to continue to build out its Brand, as                                                              ceipts are handled in and out through a
      well as offer customers day-to-day bank-                                                                 single slot.
      ing via the Easy Bank area of the branch.
                                                                                                          Virtual Touch Points
      Easy Bank. Walking into the Easy Bank, the                                                               Computer & Web Enabled Phone (Inter-
      customer steps into a welcoming space                                                                    net Banking). By computer and by phone,
      where he can do what he needs to get done                                                                BBVA’s customers get their banking done
      – on his own, or with help from staff.                                                                   by connecting through a simple, intuitive,
                                                                                                               and familiar interface: The Internet Bank of
      Kiosk. These automated banking cen-                                                                      the Future (IBOF). Lola, the online banking
      ters are available to customers 24 hours a                                                               virtual assistant avatar, offers human-like
      day – offering a hassle-free way to do any                                                               guidance whenever customers need it.
      of the everyday transactions they need.


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 19
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Remote Support. By phone, video confer-                                                            Enhaced value proposition
      ence, or in-person, customers can connect                                                          BBVA has developed a new Value Proposition,
      with BBVA specialists for advice on topics                                                         based on the following customer insights:
      ranging from home buying to retirement
      planning – or for help with simpler trans-                                                                  Bank the way they want to
      actions.
                                                                                                                 Simple, easy and transparent relationship


                                                                                                                  Real time resolution


                                                                                                                  Complete control over their finances




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 20
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
world 2
top experiences


wide

                                  Innovative experiences
            in customer centric
                               banking
                                   Currently, the branch is the main touch point
                                   for retail banking and, as such, banks are
                                   continuing to invest in it. In general, the banks
                                   are utilizing flagships to increase the value of
                                   the brand and/or use them as testing grounds
                                   for new customer experience innovations.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 21
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




Barclays, United Kingdom
Inspired by retail flagships, such as Apple and Nike, Barclays opened its Piccadilly Circus flagship
store at the end of 2008 and announced that they would open 50 more in the near future. Accord-
ing to Barclays, their flagships are more accessible, comfortable, and “simpler for customers” in an
attractive and engaging manner.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 22
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




BNP Paribas, France
Launched in late 2010, BNP Paribas’ flagship aims to “Offer everyone a new experience, a site
open to all; reinvent the relationship with clients and prospective customers, through open-
ness and responsiveness, whether informing people directly or helping them to learn; turn the
branch into a ‘lab’ promoting innovation and new features; and position BNP Paribas as a pio-
neer of innovation.”




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 23
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




Citibank, USA
Citibank flagships offer hi-touch, specialist advisory services, and smart banking technologies
to improve the experience for clients across all channels in core markets. With the collabora-
tion with Eight, Inc (responsible for Apple Stores design), the first prototype store debuted in
Singapore in 2008. Over 100 branch-level processes were reengineered. There are even four
patents pending.”




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 24
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




CommBank, Australia
Opened in March 2011, CommBank’s flagship aims to offer, “seamless service through state-of-
the-art technology and flexible banking solutions, (their) goal is to solve any financial need (the
customers) may have, all in one place.” Commenwealth Bank’s flagship offers: an online booking
system, interactive touchscreens, NetBank kiosks, iPads and iPod Touches, a welcome concierge
staff, experienced banking specialists, and a professional barista café.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 25
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




Deutsche Bank, Germany
Deutsche Bank’s Q110 is future orientated, simple, and different. Opened in 2005, the flagship
makes bank products more tangible: “customers shop for financial products in off-the-shelf
boxes, like in a supermarket.” Q110 fosters innovation culture at Deutsche Bank by providing a
“playground” for the bank personnel, who are periodically rotated.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 26
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




HSBC, Hong Kong
Opened in 2008, HSBC’s flagship model was part of the bank’s HK$300 million commitment to
revamp its retail presence. “People are shifting from the more traditional, transactional bank-
ing - over the counter - to more sophisticated financial planning, . . . The next step will be find-
ing out how to make use of this good experience to build customer relationship.” The efficient
handling of basic transactions allows customers to “sit down” and discuss wealth manage-
ment issues.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 27
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




Raiffeisen Bank, Switzerland
Designed by world-renowned design firm NAU, “Raiffeisen’s flagship branch on Zurich’s Kreuz-
platz dissolves traditional barriers between customer and employee, creating a new type of
‘open bank’, a space of encounter. Advanced technologies make banking infrastructure largely
invisible. ... This lounge feels more like a high-end retail environment than a traditional bank in-
terior.” The flagship opened its doors in early 2011.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 28
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Flagships




Skandia, Sweden
Opened in early 2011, “everything is aimed at creating the right experience for the client.”
Skandia believes that “a committed and involved client is also a more loyal customer and
can be a greater act as an ambassador for us.” “In today’s world of consumer power, finan-
cial turmoil and demand for transparency even banks must be open and accessible: a place
that can make people’s dreams and ideas come through.” The flagship opened in early 2011.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 29
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Mass
    market
    banking




BRE, Poland (MultiBank)
Established in 2001, MultiBank is a combination of traditional banking and modern banking,
offering comprehensive services in the Financial Services Centers across the country. Multi-
Bank’s strategy is to “continue to attract young and sophisticated clients and accompany them
as their affluence increases over time remaining their bank partner for life.” As part of the
bank’s plan, the IT infrastructure design is streamlined so that BRE can offer multiple services
efficiently, by having a market leading open-architecture.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 30
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Mass
    market
    banking




CheBanca, Italy
Launched in 2008, CheBanca is both a physical and virtual branch. It’s an innovative model
based on client’s emotions, with the goal of providing an ideal banking experience where the
primary attributes such as security, transparency, convenience, disinterest (treated as equals),
etc. Everything is geared towards the client: physical space, employees, user interfaces, and
multi-channel integration; all orientated to satisfy the clients’ needs or wants.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 31
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Mass
    market
    banking




GE Money Bank, Czech Republic
GEMB is all about service, “providing easily accessible, simple, and beneficial products and ser-
vices to retail and SME clients.” GEMB’s strategy creates a “we” relationship by accompanying
clients to “do something” (task oriented) or to “ask something” (question oriented).




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 32
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Virtual
    banking




ASB Bank, New Zealand
In September 2010 ASB Bank opened its door to the world’s first virtual branch in Facebook. Custom-
ers can log on to the service via Facebook and have real-time, secure conversations with ASB staff.
The general manager of ASB, Anna Curzon, states, “Customers will be able to chat with our dedicated
team about any issues - from home loan options, to simple savings tips, or how to access foreign cur-
rency for an overseas trip. The Virtual Branch will be able to carry out the same services as our con-
tact centre.” Initially, the virtual branch was launched to gauge customer interest.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 33
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Virtual
    banking




Simple, USA
“Imagine, for a moment, a bank that doesn’t suck. A bank that doesn’t gouge you with fees. A
bank that doesn’t treat you like crap. A bank that cares about design, but gets out of your way. …
A bank that’s building a platform for the future of personal finance.“ According to Simple, “while
your money is FDIC-insured and held with our bank partner, we provide the tools and customer
support you need to manage, understand, and automate your everyday spending and saving.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 34
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Virtual
    banking




Bobber Interactive, USA
Winner of FinovateSpring 2010 Best of Show award, Bobber “provides young adults an innova-
tive FDIC‐insured payment and savings platform that combines social media and game psychol-
ogy to drive user acquisition, engagement and loyalty. The company is targeting the 30 million
Gen Y consumers. … Bobber will also drive opt‐in lead generation for financial institutions.” As
of December 2011, Bobber Interactive is in Beta (invite only).




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 35
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Virtual
    banking




SmartyPig, USA
Opened in 2008, SmartyPig was the first online banking application that combines Web 2.0 with
social networking. SmartyPig allows customers to open goal-based savings accounts, earn a
competitive interest rate, invite their friends and family members to help them reach their goals,
and then get the most money for their money through cash incentive and smart spending pro-
grams. … SmartyPig has been deemed “Bank 2.0” by leading American financial technology
opinion makers for being the only true banking application that is social.”




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 36
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
the new areas of
                                                                                      growth for
                                                                                   banks                                               By 2020, most of
                                                                                                                                       the consumers
                                                                                                                                       will demand retail
                                                                                                                                       banking products and
                                                                                                                                       services specifically
                                                                                                                                       designed to meet
                                                                                                                                       or exceed their
                                                                                           Have you ever changed
                                                                                                                                       needs or desires
                                                                                              your main bank?
                                                                                                                                       (such as mobility,
                                                                                                                                       social, simplicity,
                                                                                                                                       transparency, etc.).

                                                                                         36%          yes
                                                                                                                                       The customer-centric
                                                                                                                                       banking experience
                                                                                                                                       may help the banks
                                                                                                                                       to explore new

                                                                                          7%planning
                                                                                                                                       opportunities. Many
                                                                                                                                       financial institutions
                                                                                                                                       are trying to move
                                                                                                                                       towards it. Some are

                                                                                          57%          no
                                                                                                                                       doing it in different
                                                                                                                                       ways, but, are they
                                                                                                                                       effective?

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 37
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
US population by generation



                                                     Percent change 2010-2020 -2%




                                                                                                                             Percent change 2010-2020 -16%




                                                                                                                                                                                                 Percent change 2010-2020 +16%
   2020                      32%                                                                      29%                                                             37%



   2015                     33%                                                                        37%                                                            30%



  2010                     34%                                                                         45%                                                             21%




              GEN X                                                                     BOOMERS                                                               GEN Y

                                                                                    Innovation Edge January 2012 | SIMPLE BANK                                                                  page 38
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
T        he shift towards “customer-centric”
         banking is manifesting itself in different
forms and flavors. The retail banks, both tra-
                                                                                                         Demographic change
                                                                                                         and technology
ditional and “de novo” types, seem to have a                                                             innovation have left a
preference for physical touch points, while
the new entrants prefer virtual touch points,
                                                                                                         visible impact on the
particularly mobile and internet.                                                                        way that customers
Many banks and other financial institutions
                                                                                                         interact with their
are trying to move towards a “customer-cen-                                                              banks. In a world
tric” banking experience. Some are doing it                                                              where the customers
by offering eye-popping flagships; others are
offering simpler yet effective mass retail bank-                                                         has taken the control,
ing experience. Are they effective? As an ana-                                                           the banks of the
lyst from Jack Morton summarizes, “But is the
physical remodeling of a bank branch to emu-
                                                                                                         future must help each
late an Apple Store, or the addition of more                                                             customer to reach his
financial advisers to a bank’s staff, really go-
ing to be enough to adequately redefine the
                                                                                                         individual goals.
customer experience at a bank branch? Or
                                                                                                         Reiterating the finding from EFMA’s Retail Fi-
are these simply nothing more than stopgap
                                                                                                         nancial Services Strategic Insights and Best
measures and speed bumps along the way to
                                                                                                         Practices, “The vision of most banks is to
branch obsolescence?
                                                                                                         provide their customers with a seamless, ful-
                                                                                                         ly integrated and uniform experience across
As for virtual banking, there are also some
                                                                                                         all channels. (However) many banks are still
major changes as well; customers can access
                                                                                                         years away from achieving this.”
comprehensive banking services 24 hours, 7
days a week, and 365 days of the year. Though
virtual banking offers accessibility to custom-                                                          Opportunities for
ers, it also invites competition; as they are only                                                       Customer-Centric Banks
                                                                                                         The customer-centric bank branches may
one click away. It seems that a radical change
                                                                                                         help the banks explore new areas of growth.
in paradigm is underway.


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 39
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
The flagships or the mass-market retail                                                                  transition from a traditional Boomer orien-
branches can be “living labs;” a fertile testing                                                         tated business of today to a Gen Y oriented
ground to explore new ways to doing busi-                                                                business of the future to ensure the surviv-
ness, helping banks continue to develop and                                                              ability or sustainability of the retail business
deliver products that delight and “wow” the                                                              by designing, developing, and executing a
customers. Also, the physical branches can                                                               sophisticated Customer-Centric banking
increase brand awareness and equity by of-                                                               model.
fering tangible and real-world experiences
of banking to customers.                                                                                 Potential Bumps in the road
                                                                                                         As previously mentioned, retail banking
Also, many pundits have talked about the                                                                 providers must make a smooth and (hope-
changing of the guards: the decline of the                                                               fully) profitable transition from 2011 to 2020.
boomers and the rise of Generation Y, with                                                               Banking providers must correctly manage
Gen X going where the majority goes. In re-                                                              the complete life cycle of the customers; but
gards to retail banking, a study conducted                                                               must do so for three distinct generations and
Cisco’s Internet Business Solutions Group                                                                all at once! Who said it would be easy? As
(IBSG) in February 2010, suggests that by                                                                one member of EFMA succinctly expressed,
offering value propositions that satisfies the                                                           “instead of looking at the branch of the fu-
banking needs of younger customers (Gen                                                                  ture, banks should be looking at the future of
Y or Millennials), the banks may capture                                                                 the branches.”
around 5 to 10 percent of additional growth
by increasing the cross-selling ratios, offer-                                                           If the changing of the guards wasn’t com-
ing targeted value propositions, and increas-                                                            plex enough, new technologies will continue
ing customer acquisition.                                                                                to wreak havoc on some banking providers,
                                                                                                         especially the traditional banks; as new tech-
Gen Y is going to be the biggest customer                                                                nologies and applications (such as mobile,
segment for retail banks by 2020 and they                                                                social, cloud, and who knows what else) will
will demand retail banking products and                                                                  force the banks to react to consumers’ ex-
services specifically designed to meet or                                                                pectation. At the same time, the new tech-
exceed their needs or desires (such as mo-                                                               nologies will provide “pick and shovels” to
bility, social, simplicity, transparency, etc.).                                                         both current and new competitors, making
Banks must correctly manage a smooth                                                                     it more difficult to “strike gold.”


                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 40
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
In depth             A list of links to other useful tools and resources that you may find useful as a
                     supplement to the information offered on the ‘Simple Bank’ report.



Books & publications
   Business Model Generation framework. Alex Osterwalder, 2009


   IBM | 2010 Chief Executive Officer Study


   Booz Allen Hamilton | The Customer Centric Organization. 2004


   Ernst & Young | A new era of customer expectation: Global Consumer Banking Survey 2011


 PricewaterhouseCoopers | Getting to Know You: Building a Customer-Centric Business Mod-
el for Retail Banks. 2011


  Brett King, Bank 2.0 How customer behaviour and technology will change the future of finan-
cial services


   “True Virtual Banking Has Arrived”. Online Banking Report, 198 (October 2011)




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 41
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
In depth
On the web
   Barclays pilots Microsoft Surface in new flagship concept branch


   Is It a Branch? Or a Store? It’s Deutsche Bank’s Q110


   Branch experience for GE Money bank


   Flagship sets sail


   Raiffeisen Bank Zurich by NAU




Banking future vision
   Citi - Japan Flagship Branch Prototype


   Commonwealth Bank - Vision for 2013, we’re improving customer service


   BBVA The Bank of the Future


   CScout Trend: Q110 in Second Life


   Crea International projected and developed the new concept for CheBanca!


   Bobber Interactive, Winner of FinovateSpring 2010


   What is Smartypig?



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 42
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Summaries of the
                    most relevant news
                    of selected topics that
                    have been published
                    over the course of the
                    month based on its
                    relevance to the Banking
                    industry.  The summaries
                    were prepared by the
                    editorial board.  Further
                    information is made
                    available for each given
                    topic.
                    Trending issues                                                              Technology trends
                                                                                                   In the following
                                                                                                   section, we outline
                                                                                                   the upcoming

                  also
                                                                                                   technologies
                                                                                                   that will change
                                                                                                   everything, with

                in this                                                                            predictions on what
                                                                                                   may come of them

                 issue
                                                                                                   in financial industry.




                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 43
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Trending issues
In this section, readers will find summaries of the most relevant news of selected topics that have been
published over the course of the month based on its relevance to the Banking industry.  The summa-
ries were prepared by the editorial board.  Further information is made available for each given topic.

Core banking platform                                                                                    Crowd finance
Internet irruption causes so much data in the world and                                                  Digital Marketing of brands use all forms of digital
its support is very expensive. There are some trends                                                     advertising channels A process where small amounts are
searching new ways of save money and energy.                                                             money raised for a definite purpose, Crowd finance sources
                                                                                                         funds collectively from individuals. In other words, the
New formats                                                                                              money comes from a wide range of individuals and not
Based on design principles focused on customer insights,                                                 from a single entity. Read more about it here.
New formats offers retail banking customers more
channels which are more granular and highly functional;                                                  App ecosystem
a consistent, simple, and collaborative universal user                                                   Nomadic uses of information are driving a new plethora of
interface; real-time intelligent processes; highly personalized                                          applications and a wealthy market.
solutions; and is open to social networks and the web.
                                                                                                         New Gizmo era
Mobile banking                                                                                           There are new amazing devices that will make us wiser and
Banking industry is changing its appearance to the                                                       healthier.
customer to make their transactions easier. Relevant news
about mobile banking platforms (which enable customers                                                   New banking concepts
to access financial services, such as transfers, bill payments,                                          Banks around the world continuously explore new
balance information and investment options) can be found                                                 approaches to strengthen customer relationships, both
here.                                                                                                    in the virtual and the physical worlds; including Virtual
                                                                                                         assistants, natural language search tools, new marketing
Enterprise 2.0                                                                                           tools, different segmentation (children, gen Y,…) etc. This
Big companies are using 2.0 tools that makes                                                             section will cover news along these lines.
communications easier beyond email.
                                                                                                         Join & enjoy
Mobile payments                                                                                          Gamification has become an important trending issue,
Big actors are launching new mobile payment solutions                                                    and “games” are not going to be just games anymore.
that will be most important than cash in a nearly future.                                                Companies are taking this trend and using it as an essential
                                                                                                         tool.
Social Media
Social Media are becoming more specialized in                                                            Smart cities + urban mobility
different areas and users begin to use them as a new                                                     Different companies from different industries are looking
communication channel.                                                                                   for business models that let them be present in the near
                                                                                                         future.
Digital Marketing
Digital Marketing of brands use all forms of digital                                                     Health
advertising channels to reach consumers, including social                                                New tools will let us take our health control and manage it
media, via a wide range of delivery mechanisms such as                                                   in a easier way,
mobile phones, sms/mms, display / banner ads, etc.



                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 44
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Trending issues

Core banking
platform                                                                              Centros de datos que
New formats                                                                           usan chips de teléfonos
                                                                                      inteligentes
Mobile banking                                                                        No es ningún secreto que los centros de datos
                                                                                      cada vez se enfrentan a mayores exigencias
Enterprise 2.0                                                                        (hay que almacenar en algún sitio todos
                                                                                      esos 800 millones de perfiles de Facebook).
                                                                                      No es sorprendente que las compañías que
Mobile payments                                                                       operan estos almacenes estén preocupadas
                                                                                      por los costes de uso de toda esa energía.
                                                                                      En septiembre, Google anunció que sus
Social Media                                                                          operaciones globales usaban de forma continua
                                                                                      260 millones de megavatios de potencia,
                                                                                      aproximadamente un cuarto de la energía
Digital Marketing                                                                     generada por una planta de energía nuclear.

                                                                                      Source: technologyreview | 14 noviembre 2011
Crowd finance

App ecosystem

New Gizmo era
New banking
concepts
Join & enjoy

Smart cities +
urban mobility

Health

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 45
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Trending issues

Core banking
platform

New formats

Mobile banking
Enterprise 2.0

Mobile payments
Social Media

Digital Marketing
                                                                                                             Virgin Money: What
Crowd finance                                                                                                Making ‘Everyone Better
App ecosystem
                                                                                                             Off’ Means at the Branch
                                                                                                             Level
New Gizmo era                                                                                                What does making “everyone better off” mean
                                                                                                             at the branch level to Virgin Money, which
New banking                                                                                                  yesterday agreed to acquire Northern Rock
                                                                                                             from the British government for $1.18 billion?
concepts                                                                                                     Rather, than describe it, we offer some images
                                                                                                             of Virgin Money’s current and future branches.
Join & enjoy
                                                                                                             Source: Bank Innovation. November 18, 2011

Smart cities +
urban mobility

Health

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 46
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Trending issues

Core banking
platform

New formats

Mobile banking
Enterprise 2.0                                                        BBVA y Bankia
                                                                      lanzan el pago con
Mobile payments                                                       tarjeta sin
Social Media
                                                                      firma ni pin
                                                                      BBVA y Bankia han lanzado un nuevo
Digital Marketing                                                     servicio conjunto que permitirá al
                                                                      cliente realizar pagos de hasta 20
                                                                      euros con tarjeta sólo con acercarla
Crowd finance                                                         a un lector y sin necesidad de firmar
                                                                      recibo ni teclear número pin, según
App ecosystem                                                         anunciaron ambas entidades.

                                                                      Source: EUROPA PRESS
New Gizmo era
                                                                                                            Mobile banking trends to watch out
New banking                                                                                                 for in 2012
concepts
                                                                                                            Mobile banking will continue to grow next year across
                                                                                                            a multiple fronts. Not only will more banks jump
Join & enjoy                                                                                                into mobile with optimized sites and application, but
                                                                                                            financial institutions will also build their existing mobile
                                                                                                            programs with a variety of new services.
Smart cities +
urban mobility                                                                                              Source: Mobile Comerce daily, December 30, 2011



Health

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                              page 47
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Trending issues

Core banking
platform

New formats

Mobile banking
Enterprise 2.0

Mobile payments
Social Media

Digital Marketing

Crowd finance                                                         Google persuades Spanish bank
                                                                      BBVA to use the cloud
App ecosystem                                                         The bank would use Google applications like email, calendar, docs,
                                                                      chat, video conferencing and other collaboration tools to “achieve
New Gizmo era                                                         a cultural change” and get “the whole company working together”
                                                                      across the 26 countries where BBVA is based.
New banking                                                           Source: BBC News, January 11, 2012
concepts
Join & enjoy

Smart cities +
urban mobility

Health

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 48
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
Trending issues

Core banking
platform

New formats

Mobile banking
Enterprise 2.0

Mobile payments                                                       El móvil reemplazará al pago en
                                                                      efectivo en 2016, según PayPal.
Social Media
                                                                      En 2016, utilizaremos nuestros teléfonos móviles como método de
                                                                      pago de bienes y servicios casi en mayor medida que las compras
Digital Marketing                                                     en efectivo, con cheques o tarjetas. Así al menos lo considera
                                                                      PayPal, que ha publicado un informe (Money: The Digital Tipping
Crowd finance                                                         Point), llevado a cabo por Forrester, según el cual 45 millones
                                                                      de británicos utilizan ya un móvil y cerca de la mida de los 550
                                                                      compradores móviles encuestados (49 por ciento) aseguran que
App ecosystem                                                         se están planteando utilizar su terminal para comprar bienes y
                                                                      servicios al menos una vez cada tres meses..
New Gizmo era                                                         Source: IDG


New banking
concepts                                                              Adiós Google Checkout,
                                                                      hola Google Wallet
Join & enjoy                                                          Nuevos movimientos de la
                                                                      compañía líder de Internet con
                                                                      los que reorganizar su oferta de
Smart cities +                                                        servicios online..
urban mobility                                                        Source: Desarrolloweb.com,
                                                                      November 21, 2011
Health

                                                                        Innovation Edge January 2012 | SIMPLE BANK                                                                             page 49
Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be
reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)
BBVA Innovation Edge. Simple Bank (English)

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BBVA Innovation Edge. Simple Bank (English)

  • 1. JANUARY 2012 1 simple The way the world bank calls our customer centric bank Winning the customer´s trust Customer centric, the new banking Top experiences New areas of growth also in this issue Trending issues Technology trends Edge January 2012 | SIMPLE BANK Innovation page 1 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 2. new the secret of banking is... simple T he world has, is, and will probably continue to struggle through a prolonged period of unparalleled and discontinuous change. In order to address the shift, businesses and institutions have been exploring new business/operating models. Some industries are moving away from traditional “product-focused” models and beginning to embrace “customer-centric” models Customer-centric” business models blur the line between traditional notions of value propositions, channels, and customer relationships. In the new model, it seems that the Channels are seamlessly integrated and offer an assortment of “touch points”. The customers, when choosing to purchase and receive products, freely decide what kind of relationship they want to maintain at any given moment, for any given reason. Innovation Edge January 2012 | SIMPLE BANK page 2 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 3. Winning the trust customer´s Shift happens and, in the business world, organizations are looking for new business model innovations to minimize risks and to maximize opportunities. The idea is clear: from pushing products to cultivating customers relationships. Innovation Edge January 2012 | SIMPLE BANK page 3 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 4. S hift happens and it’s happening every- where and all of the time. Some would even say that we are in the midst of a Coper- Over the last six years, CEOs and leaders worldwide noticed: nican Revolution: 2006 The frecuency of change. 1989 The fall of the Berlin Wall. “We are 2008 The velocity of change. free to choose our future.” 2010 The complexity of change. 1994 Netscape Navigator browser leads the way. “We can find out anything that Shift in business models we don’t know already.” In order to tackle the shift, business leaders and organizations have been exploring new 2002 Blackberry hits the streets. “We business model innovations to minimize can get stuff done anytime, anywhere.” risks and to maximize opportunities. As a result of the aforementioned explorations, 2003 MySpace provides our space. “We there seems to a clear transition from “prod- no longer need advice from an expert; we uct-focused” business models to “customer- can tap into the wisdom of crowds.” centric” business models. In the business world, the shift and its influ- Shift in Value Proposition ence are evident as well. Disruptive changes Traditionally, or from a “product-focused” in technologies, customers, competitors, and point of view, Customers Relationships and the environment are wreaking major havoc Channels were used to distribute Value in the business environment. The last three Propositions (products) to a given Custom- Global CEO Studies published by IBM shed er Segment. In “customer-centric” business some light on the CEOs’ perception of change. models, it seems that the Channels are seam- lessly integrated and offer an assortment of “touch points”. The customers, when choos- ing to purchase and receive products, freely decide what kind of relationship they want to maintain at any given moment, for any given reason. Innovation Edge January 2012 | SIMPLE BANK page 4 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 5. Confidential / Internal use only The fall of the Berlin Wall 1986 “We are free to choose our future” November 11, 1989 East Berliners climb onto the Berlin Wall to celebrate the effective end of the city’s partition, 31st December 1989. Innovation Edge January 2012 | SIMPLE BANK page 5 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 6. Netscape lead the way 1994 “We can find out anything that we don’t know already” June 3, 1996 Founder of Netscape James Clark speaks June 3, 1996 in Chicago, IL. Clark, who founded the Fortune 500 computer systems company Silicon Graphics, founded Netscape in April 1994 with Marc Andreessen which currently employs more than 2000 people in 17 countries. Innovation Edge January 2012 | SIMPLE BANK page 6 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 7. 2002 Blackberry hits the streets “We can get stuff done anytime, anywhere” March 5, 2004 A traveler walks past an advertisement for Research In Motion’s BlackBerry handheld e-mail device March 5, 2004 at O’Hare International Airport in Chicago, Illinois. According to Don Morrison, chief operating officer of Research In Motion, the maker of the BlackBerry, the handheld e-mail devices are used by numerous government officials on Capitol Hill. Innovation Edge January 2012 | SIMPLE BANK page 7 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 8. 2003 MySpace provides our space “We no longer need advice from an expert; we can tap into the wisdom of crowds” January 20, 2007 MySpace.com co-creators Tom Anderson (C) with producer Efren Ramirez (L) and Director/Producer Chris Barrett (R) from the film ‘After School’ poses for a portrait during the 2007 Sundance Film Festival on January 20, 2007 in Park City, Utah. Innovation Edge January 2012 | SIMPLE BANK page 8 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 9. customer centric, the new banking Demographic change and technology innovation have left a visible impact on the way that customers interact with their banks. In a world where the customer has taken the control, the banks of the future must help each customer to reach his individual goals. I n the past, banks built customers’ trust by ensuring them stability and solidity – by promising to stay the same forever. But ers want stability and flexibility; they want banks that can guarantee their security and respond to their individual needs. In a world the world is changing drastically. Custom- where the customer has taken control, the Innovation Edge January 2012 | SIMPLE BANK page 9 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 10. banks of the future must become the guide into silos, with redundancies in infrastructure that helps each customer reach her individ- and services causing disparate experiences ual goals. In the new world, value has less for banking customers. A customer-centric to do with understanding money, and every- model would require an agile infrastructure, thing to do with understanding people. which is designed with the customer as the starting point for products, services, and in- Currently in the retail-banking sector, the “shift” frastructure. This approach would provide a is already underway. Many actors (including consistent and unified customer experience traditional banks, “de novo” banks, and new and, in turn, would allow the banks to capital- “non-bank” entrants) are exploring and/or ex- ize growth opportunities, such as cross-selling ecuting new business models. According to and upselling. Of course, “de novo” banks and the EFMA report, Transforming Retail Banking new entrants have a competitive advantage to Reflect the New Economic Environment, in that they do not have to worry about di- many banks realize that the customer-centric gesting the old “spaghetti”. business models are the future of retail bank- ing: “The vision of most banks is to provide Given the new reality, the banks and other ac- their customers with a seamless, fully integrat- tors are responding to the “customer-centric” ed and uniform experience across all chan- era of banking. This report offers a closer look nels. (However) many banks are still years at BBVA’s unique response to the shift towards away from achieving this.” customer-centric banking; and also offers some concrete examples of customer-centric One of the main difficulties for the incumbent retail banking experience of other actors; fo- banks is the “spaghetti” infrastructure of the cusing on Flagships, Mass Market Retail Bank- current operating model; which are separated ing, and Virtual Banking. Innovation Edge January 2012 | SIMPLE BANK page 10 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 11. world top experiences wide In this inevitable change towards ‘customer centric’ banking, BBVA is leading. Major changes to the BBVA business model have already begun, with the renewal of the back-end systems platform and continue with several front-end projects. Banks like BNP Paribas, Citibank or HSBC are also addressing the concerns of the ‘customer-centric’ era of banking, and testing ways of creating a personal rapport with customers. The vision of most banks is to provide their customers with a seamless, fully integrated and uniform experience across all channels. Here is how they do it.” Innovation Edge January 2012 | SIMPLE BANK page 11 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 12. world 1 top experiences wide BBVA´s answer At BBVA, we have been focusing on CCB since 2008; the bank has been hard at work to ensure that the efficiency side (the back-end) of the business model would be ready to offer a customer-centric banking business model. With the goal of offering complete back-end capabilities for the Customer- Centric Bank by 2013, BBVA has mapped out its infrastructure transformation. Innovation Edge January 2012 | SIMPLE BANK page 12 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 13. E ach new technology delivers value, but the benefit to our customers and to BBVA builds exponentially as the technologies are needs, BBVA is committed to three principles, which guided in the design of the CCB model: Accessible Distribution. “BBVA gives integrated: me different ways to do my banking, any- where, anytime.” Convenient, trustworthy, Customer Oriented Service and Produc- and pervasive, channels give customers a tivity (Commercial Scenarios; New Core range of ways to fit banking easily into the Banking; Digitalization; Operative Process- shape of their lives. es Redesign). Transparent Solutions. “BBVA knows what Customized Solution (New Core Banking; I need, and offers solutions that fit my life.” Commercial and Risk Intelligence; Private In a web-based world dominated by social Cloud; MIS Electronic Financial Record). networks, BBVA has access to enormous amounts of customer data—and a rich op- Convenient and Seamless User Interface portunity to provide its clients with solutions (Commercial and Risk Intelligence; NICE; custom-made to suit their needs. Instead of Mobile Channel; Public Cloud; New Inter- the expert, whose value comes from know- net). ing more than his customers, the CCB will be the tailor who knows his customers bet- Collaborative Relationship and Smart ter—and can recommend each of them Processes (MIS Electronic Financial Re- what fits best. cord; Collaborative Front End; New Inter- net; Customer Processes Redesign; New Human Understanding. “The people of Branch Design) BBVA really listen to me. I can always get the guidance I need to figure out how to Customer Centric Banking (New Branch get where I want to go.” Instead of selling Design; “Lola” (Online Banking Virtual As- to their customers, BBVA staff will work sistant) closely with them—to help clients under- stand what they really want from their fi- For the value side (the front-end) of the busi- nancial futures, and map out the steps ness model, in putting customers at the cen- they’ll need to get there. ter of experiences that meet their distinctive Innovation Edge January 2012 | SIMPLE BANK page 13 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 14. Easy bank ABIL ATM Flagship Kiosk Walking into de Easy Bank, the customer steps into a welcoming space where he can do what he needs to get done, on his own or with help from staff Innovation Edge January 2012 | SIMPLE BANK page 14 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 15. Easy bank ABIL ATM Flagship Kiosk BBVA ABIL ATM revolutionary banking machine. ABIL is a revolution regarding the traditional self-service. It has a large touch screen, direct access to all common operations and has a surface that allows support personal items to operate with greater comfort. Innovation Edge January 2012 | SIMPLE BANK page 15 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 16. Easy bank ABIL ATM Flagship Kiosk In BBVA Bancomer customers can access specialized advice and receive personal reassurance, at the same time flagships allow BBVA to buid out its brand, as well as offer customers day-to-day banking via the easy bank area of the branch. Innovation Edge January 2012 | SIMPLE BANK page 16 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 17. Integrated to customer’s social networks and activities Easy bank ABIL ATM Flagship Kiosk These automated banking centers are avaliable to customers 24 hours a day offering a hassle- free way to do any of the everday transactions they need. Innovation Edge January 2012 | SIMPLE BANK page 17 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 18. Based on customer insights and the three de- bank a chance to create an experience sign principles, the BBVA CCB model offers: for customers that weaves deeply into the fabric of their ordinary lives. Examples More channels, more granular, and high- include: getting cash; making deposits, ly functional changing address Consistent, simple, and collaborative uni- My Life. Interestingly, customer modal- versal user interface ity changes as they move between these different needs. The same customer who Real time intelligent processes cares most about convenience when she’s performing everyday transactions want to Highly customized solutions based on spend a great deal of time researching op- customer understanding tions when planning for the long-term. Ex- amples include: Buying a home, planning Open to social networks and the web for retirement, saving for education Touch points The BBVA Bank of Through a flexible network of virtual and physical touch points, BBVA offers custom- the Future: Customer ers a wide range of connections to the ser- Centric Bank of 2020 vices they need, available when they need them, in the ways that best fit their lives. Customer needs Based on conversations and collaboration By dividing our current branch model into with customers, BBVA discovered that there a more granular set of components, we will are two forms of interaction with customers. create an array of options that enable cus- In other words, there are two kinds of finan- tomers to choose the banking experience cial needs: My Money (Getting Stuff Done) that feels most comfortable—thereby weav- and My Life (Financial Well Being). ing their relationship with BBVA more fully into our customers’ daily lives. My Money. Because everyday transac- tions happen so frequently, they offer the At the same time, this modular approach en- Innovation Edge January 2012 | SIMPLE BANK page 18 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 19. ables us to adapt our presence to the spe- BBVA assistant is available to help. cific needs of different markets—for example, to focus on low-cost, more automated chan- Point of Sale Banking & Pocket Bank. nels in some regions; and a greater number Customers can do basic banking trans- of flagship stores to serve various needs actions while shopping, using the cashier such as offering specialized advice, reassur- to perform ATM-like functions; and use ance, brand building, marketing, client attrac- their phone to perform routine transac- tion and capture; as well as offer day-to-day tions through local businesses – including banking via the Easy Bank area of the bank. making deposits and getting cash. These Anchored to the internet, this flexible, modu- pocket banks extend BBVA reach to more lar array enables us to tailor our offerings to remote areas where customers cannot the needs of different customers, while deliv- easily get to a physical branch. ering bank services across a wide range of regions effectively and efficiently. ATM. The new BBVA ATMs improve pri- vacy, ease of use, and simplicity. All opera- Physical Touch Points tions, including PIN entry, are completed Flagship. Customers can access special- on a 19-inch touch screen that displays ized advice and receive personal reas- only information relevant to the transac- surance; at the same time flagships allow tion at hand. All cash, statements and re- BBVA to continue to build out its Brand, as ceipts are handled in and out through a well as offer customers day-to-day bank- single slot. ing via the Easy Bank area of the branch. Virtual Touch Points Easy Bank. Walking into the Easy Bank, the Computer & Web Enabled Phone (Inter- customer steps into a welcoming space net Banking). By computer and by phone, where he can do what he needs to get done BBVA’s customers get their banking done – on his own, or with help from staff. by connecting through a simple, intuitive, and familiar interface: The Internet Bank of Kiosk. These automated banking cen- the Future (IBOF). Lola, the online banking ters are available to customers 24 hours a virtual assistant avatar, offers human-like day – offering a hassle-free way to do any guidance whenever customers need it. of the everyday transactions they need. Innovation Edge January 2012 | SIMPLE BANK page 19 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 20. Remote Support. By phone, video confer- Enhaced value proposition ence, or in-person, customers can connect BBVA has developed a new Value Proposition, with BBVA specialists for advice on topics based on the following customer insights: ranging from home buying to retirement planning – or for help with simpler trans- Bank the way they want to actions. Simple, easy and transparent relationship Real time resolution Complete control over their finances Innovation Edge January 2012 | SIMPLE BANK page 20 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 21. world 2 top experiences wide Innovative experiences in customer centric banking Currently, the branch is the main touch point for retail banking and, as such, banks are continuing to invest in it. In general, the banks are utilizing flagships to increase the value of the brand and/or use them as testing grounds for new customer experience innovations. Innovation Edge January 2012 | SIMPLE BANK page 21 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 22. Flagships Barclays, United Kingdom Inspired by retail flagships, such as Apple and Nike, Barclays opened its Piccadilly Circus flagship store at the end of 2008 and announced that they would open 50 more in the near future. Accord- ing to Barclays, their flagships are more accessible, comfortable, and “simpler for customers” in an attractive and engaging manner. Innovation Edge January 2012 | SIMPLE BANK page 22 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 23. Flagships BNP Paribas, France Launched in late 2010, BNP Paribas’ flagship aims to “Offer everyone a new experience, a site open to all; reinvent the relationship with clients and prospective customers, through open- ness and responsiveness, whether informing people directly or helping them to learn; turn the branch into a ‘lab’ promoting innovation and new features; and position BNP Paribas as a pio- neer of innovation.” Innovation Edge January 2012 | SIMPLE BANK page 23 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 24. Flagships Citibank, USA Citibank flagships offer hi-touch, specialist advisory services, and smart banking technologies to improve the experience for clients across all channels in core markets. With the collabora- tion with Eight, Inc (responsible for Apple Stores design), the first prototype store debuted in Singapore in 2008. Over 100 branch-level processes were reengineered. There are even four patents pending.” Innovation Edge January 2012 | SIMPLE BANK page 24 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 25. Flagships CommBank, Australia Opened in March 2011, CommBank’s flagship aims to offer, “seamless service through state-of- the-art technology and flexible banking solutions, (their) goal is to solve any financial need (the customers) may have, all in one place.” Commenwealth Bank’s flagship offers: an online booking system, interactive touchscreens, NetBank kiosks, iPads and iPod Touches, a welcome concierge staff, experienced banking specialists, and a professional barista café. Innovation Edge January 2012 | SIMPLE BANK page 25 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 26. Flagships Deutsche Bank, Germany Deutsche Bank’s Q110 is future orientated, simple, and different. Opened in 2005, the flagship makes bank products more tangible: “customers shop for financial products in off-the-shelf boxes, like in a supermarket.” Q110 fosters innovation culture at Deutsche Bank by providing a “playground” for the bank personnel, who are periodically rotated. Innovation Edge January 2012 | SIMPLE BANK page 26 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 27. Flagships HSBC, Hong Kong Opened in 2008, HSBC’s flagship model was part of the bank’s HK$300 million commitment to revamp its retail presence. “People are shifting from the more traditional, transactional bank- ing - over the counter - to more sophisticated financial planning, . . . The next step will be find- ing out how to make use of this good experience to build customer relationship.” The efficient handling of basic transactions allows customers to “sit down” and discuss wealth manage- ment issues. Innovation Edge January 2012 | SIMPLE BANK page 27 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 28. Flagships Raiffeisen Bank, Switzerland Designed by world-renowned design firm NAU, “Raiffeisen’s flagship branch on Zurich’s Kreuz- platz dissolves traditional barriers between customer and employee, creating a new type of ‘open bank’, a space of encounter. Advanced technologies make banking infrastructure largely invisible. ... This lounge feels more like a high-end retail environment than a traditional bank in- terior.” The flagship opened its doors in early 2011. Innovation Edge January 2012 | SIMPLE BANK page 28 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 29. Flagships Skandia, Sweden Opened in early 2011, “everything is aimed at creating the right experience for the client.” Skandia believes that “a committed and involved client is also a more loyal customer and can be a greater act as an ambassador for us.” “In today’s world of consumer power, finan- cial turmoil and demand for transparency even banks must be open and accessible: a place that can make people’s dreams and ideas come through.” The flagship opened in early 2011. Innovation Edge January 2012 | SIMPLE BANK page 29 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 30. Mass market banking BRE, Poland (MultiBank) Established in 2001, MultiBank is a combination of traditional banking and modern banking, offering comprehensive services in the Financial Services Centers across the country. Multi- Bank’s strategy is to “continue to attract young and sophisticated clients and accompany them as their affluence increases over time remaining their bank partner for life.” As part of the bank’s plan, the IT infrastructure design is streamlined so that BRE can offer multiple services efficiently, by having a market leading open-architecture. Innovation Edge January 2012 | SIMPLE BANK page 30 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 31. Mass market banking CheBanca, Italy Launched in 2008, CheBanca is both a physical and virtual branch. It’s an innovative model based on client’s emotions, with the goal of providing an ideal banking experience where the primary attributes such as security, transparency, convenience, disinterest (treated as equals), etc. Everything is geared towards the client: physical space, employees, user interfaces, and multi-channel integration; all orientated to satisfy the clients’ needs or wants. Innovation Edge January 2012 | SIMPLE BANK page 31 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 32. Mass market banking GE Money Bank, Czech Republic GEMB is all about service, “providing easily accessible, simple, and beneficial products and ser- vices to retail and SME clients.” GEMB’s strategy creates a “we” relationship by accompanying clients to “do something” (task oriented) or to “ask something” (question oriented). Innovation Edge January 2012 | SIMPLE BANK page 32 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 33. Virtual banking ASB Bank, New Zealand In September 2010 ASB Bank opened its door to the world’s first virtual branch in Facebook. Custom- ers can log on to the service via Facebook and have real-time, secure conversations with ASB staff. The general manager of ASB, Anna Curzon, states, “Customers will be able to chat with our dedicated team about any issues - from home loan options, to simple savings tips, or how to access foreign cur- rency for an overseas trip. The Virtual Branch will be able to carry out the same services as our con- tact centre.” Initially, the virtual branch was launched to gauge customer interest. Innovation Edge January 2012 | SIMPLE BANK page 33 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 34. Virtual banking Simple, USA “Imagine, for a moment, a bank that doesn’t suck. A bank that doesn’t gouge you with fees. A bank that doesn’t treat you like crap. A bank that cares about design, but gets out of your way. … A bank that’s building a platform for the future of personal finance.“ According to Simple, “while your money is FDIC-insured and held with our bank partner, we provide the tools and customer support you need to manage, understand, and automate your everyday spending and saving. Innovation Edge January 2012 | SIMPLE BANK page 34 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 35. Virtual banking Bobber Interactive, USA Winner of FinovateSpring 2010 Best of Show award, Bobber “provides young adults an innova- tive FDIC‐insured payment and savings platform that combines social media and game psychol- ogy to drive user acquisition, engagement and loyalty. The company is targeting the 30 million Gen Y consumers. … Bobber will also drive opt‐in lead generation for financial institutions.” As of December 2011, Bobber Interactive is in Beta (invite only). Innovation Edge January 2012 | SIMPLE BANK page 35 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 36. Virtual banking SmartyPig, USA Opened in 2008, SmartyPig was the first online banking application that combines Web 2.0 with social networking. SmartyPig allows customers to open goal-based savings accounts, earn a competitive interest rate, invite their friends and family members to help them reach their goals, and then get the most money for their money through cash incentive and smart spending pro- grams. … SmartyPig has been deemed “Bank 2.0” by leading American financial technology opinion makers for being the only true banking application that is social.” Innovation Edge January 2012 | SIMPLE BANK page 36 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 37. the new areas of growth for banks By 2020, most of the consumers will demand retail banking products and services specifically designed to meet or exceed their Have you ever changed needs or desires your main bank? (such as mobility, social, simplicity, transparency, etc.). 36% yes The customer-centric banking experience may help the banks to explore new 7%planning opportunities. Many financial institutions are trying to move towards it. Some are 57% no doing it in different ways, but, are they effective?
 Innovation Edge January 2012 | SIMPLE BANK page 37 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 38. US population by generation Percent change 2010-2020 -2% Percent change 2010-2020 -16% Percent change 2010-2020 +16% 2020 32% 29% 37% 2015 33% 37% 30% 2010 34% 45% 21% GEN X BOOMERS GEN Y Innovation Edge January 2012 | SIMPLE BANK page 38 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 39. T he shift towards “customer-centric” banking is manifesting itself in different forms and flavors. The retail banks, both tra- Demographic change and technology ditional and “de novo” types, seem to have a innovation have left a preference for physical touch points, while the new entrants prefer virtual touch points, visible impact on the particularly mobile and internet. way that customers Many banks and other financial institutions interact with their are trying to move towards a “customer-cen- banks. In a world tric” banking experience. Some are doing it where the customers by offering eye-popping flagships; others are offering simpler yet effective mass retail bank- has taken the control, ing experience. Are they effective? As an ana- the banks of the lyst from Jack Morton summarizes, “But is the physical remodeling of a bank branch to emu- future must help each late an Apple Store, or the addition of more customer to reach his financial advisers to a bank’s staff, really go- ing to be enough to adequately redefine the individual goals. customer experience at a bank branch? Or Reiterating the finding from EFMA’s Retail Fi- are these simply nothing more than stopgap nancial Services Strategic Insights and Best measures and speed bumps along the way to Practices, “The vision of most banks is to branch obsolescence? provide their customers with a seamless, ful- ly integrated and uniform experience across As for virtual banking, there are also some all channels. (However) many banks are still major changes as well; customers can access years away from achieving this.” comprehensive banking services 24 hours, 7 days a week, and 365 days of the year. Though virtual banking offers accessibility to custom- Opportunities for ers, it also invites competition; as they are only Customer-Centric Banks The customer-centric bank branches may one click away. It seems that a radical change help the banks explore new areas of growth. in paradigm is underway. Innovation Edge January 2012 | SIMPLE BANK page 39 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 40. The flagships or the mass-market retail transition from a traditional Boomer orien- branches can be “living labs;” a fertile testing tated business of today to a Gen Y oriented ground to explore new ways to doing busi- business of the future to ensure the surviv- ness, helping banks continue to develop and ability or sustainability of the retail business deliver products that delight and “wow” the by designing, developing, and executing a customers. Also, the physical branches can sophisticated Customer-Centric banking increase brand awareness and equity by of- model. fering tangible and real-world experiences of banking to customers. Potential Bumps in the road As previously mentioned, retail banking Also, many pundits have talked about the providers must make a smooth and (hope- changing of the guards: the decline of the fully) profitable transition from 2011 to 2020. boomers and the rise of Generation Y, with Banking providers must correctly manage Gen X going where the majority goes. In re- the complete life cycle of the customers; but gards to retail banking, a study conducted must do so for three distinct generations and Cisco’s Internet Business Solutions Group all at once! Who said it would be easy? As (IBSG) in February 2010, suggests that by one member of EFMA succinctly expressed, offering value propositions that satisfies the “instead of looking at the branch of the fu- banking needs of younger customers (Gen ture, banks should be looking at the future of Y or Millennials), the banks may capture the branches.” around 5 to 10 percent of additional growth by increasing the cross-selling ratios, offer- If the changing of the guards wasn’t com- ing targeted value propositions, and increas- plex enough, new technologies will continue ing customer acquisition. to wreak havoc on some banking providers, especially the traditional banks; as new tech- Gen Y is going to be the biggest customer nologies and applications (such as mobile, segment for retail banks by 2020 and they social, cloud, and who knows what else) will will demand retail banking products and force the banks to react to consumers’ ex- services specifically designed to meet or pectation. At the same time, the new tech- exceed their needs or desires (such as mo- nologies will provide “pick and shovels” to bility, social, simplicity, transparency, etc.). both current and new competitors, making Banks must correctly manage a smooth it more difficult to “strike gold.” Innovation Edge January 2012 | SIMPLE BANK page 40 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 41. In depth A list of links to other useful tools and resources that you may find useful as a supplement to the information offered on the ‘Simple Bank’ report. Books & publications Business Model Generation framework. Alex Osterwalder, 2009 IBM | 2010 Chief Executive Officer Study Booz Allen Hamilton | The Customer Centric Organization. 2004 Ernst & Young | A new era of customer expectation: Global Consumer Banking Survey 2011 PricewaterhouseCoopers | Getting to Know You: Building a Customer-Centric Business Mod- el for Retail Banks. 2011 Brett King, Bank 2.0 How customer behaviour and technology will change the future of finan- cial services “True Virtual Banking Has Arrived”. Online Banking Report, 198 (October 2011) Innovation Edge January 2012 | SIMPLE BANK page 41 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 42. In depth On the web Barclays pilots Microsoft Surface in new flagship concept branch Is It a Branch? Or a Store? It’s Deutsche Bank’s Q110 Branch experience for GE Money bank Flagship sets sail Raiffeisen Bank Zurich by NAU Banking future vision Citi - Japan Flagship Branch Prototype Commonwealth Bank - Vision for 2013, we’re improving customer service BBVA The Bank of the Future CScout Trend: Q110 in Second Life Crea International projected and developed the new concept for CheBanca! Bobber Interactive, Winner of FinovateSpring 2010 What is Smartypig? Innovation Edge January 2012 | SIMPLE BANK page 42 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 43. Summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry.  The summaries were prepared by the editorial board.  Further information is made available for each given topic. Trending issues Technology trends In the following section, we outline the upcoming also technologies that will change everything, with in this predictions on what may come of them issue in financial industry. Innovation Edge January 2012 | SIMPLE BANK page 43 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 44. Trending issues In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry.  The summa- ries were prepared by the editorial board.  Further information is made available for each given topic. Core banking platform Crowd finance Internet irruption causes so much data in the world and Digital Marketing of brands use all forms of digital its support is very expensive. There are some trends advertising channels A process where small amounts are searching new ways of save money and energy. money raised for a definite purpose, Crowd finance sources funds collectively from individuals. In other words, the New formats money comes from a wide range of individuals and not Based on design principles focused on customer insights, from a single entity. Read more about it here. New formats offers retail banking customers more channels which are more granular and highly functional; App ecosystem a consistent, simple, and collaborative universal user Nomadic uses of information are driving a new plethora of interface; real-time intelligent processes; highly personalized applications and a wealthy market. solutions; and is open to social networks and the web. New Gizmo era Mobile banking There are new amazing devices that will make us wiser and Banking industry is changing its appearance to the healthier. customer to make their transactions easier. Relevant news about mobile banking platforms (which enable customers New banking concepts to access financial services, such as transfers, bill payments, Banks around the world continuously explore new balance information and investment options) can be found approaches to strengthen customer relationships, both here. in the virtual and the physical worlds; including Virtual assistants, natural language search tools, new marketing Enterprise 2.0 tools, different segmentation (children, gen Y,…) etc. This Big companies are using 2.0 tools that makes section will cover news along these lines. communications easier beyond email. Join & enjoy Mobile payments Gamification has become an important trending issue, Big actors are launching new mobile payment solutions and “games” are not going to be just games anymore. that will be most important than cash in a nearly future. Companies are taking this trend and using it as an essential tool. Social Media Social Media are becoming more specialized in Smart cities + urban mobility different areas and users begin to use them as a new Different companies from different industries are looking communication channel. for business models that let them be present in the near future. Digital Marketing Digital Marketing of brands use all forms of digital Health advertising channels to reach consumers, including social New tools will let us take our health control and manage it media, via a wide range of delivery mechanisms such as in a easier way, mobile phones, sms/mms, display / banner ads, etc. Innovation Edge January 2012 | SIMPLE BANK page 44 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 45. Trending issues Core banking platform Centros de datos que New formats usan chips de teléfonos inteligentes Mobile banking No es ningún secreto que los centros de datos cada vez se enfrentan a mayores exigencias Enterprise 2.0 (hay que almacenar en algún sitio todos esos 800 millones de perfiles de Facebook). No es sorprendente que las compañías que Mobile payments operan estos almacenes estén preocupadas por los costes de uso de toda esa energía. En septiembre, Google anunció que sus Social Media operaciones globales usaban de forma continua 260 millones de megavatios de potencia, aproximadamente un cuarto de la energía Digital Marketing generada por una planta de energía nuclear. Source: technologyreview | 14 noviembre 2011 Crowd finance App ecosystem New Gizmo era New banking concepts Join & enjoy Smart cities + urban mobility Health Innovation Edge January 2012 | SIMPLE BANK page 45 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 46. Trending issues Core banking platform New formats Mobile banking Enterprise 2.0 Mobile payments Social Media Digital Marketing Virgin Money: What Crowd finance Making ‘Everyone Better App ecosystem Off’ Means at the Branch Level New Gizmo era What does making “everyone better off” mean at the branch level to Virgin Money, which New banking yesterday agreed to acquire Northern Rock from the British government for $1.18 billion? concepts Rather, than describe it, we offer some images of Virgin Money’s current and future branches. Join & enjoy Source: Bank Innovation. November 18, 2011 Smart cities + urban mobility Health Innovation Edge January 2012 | SIMPLE BANK page 46 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 47. Trending issues Core banking platform New formats Mobile banking Enterprise 2.0 BBVA y Bankia lanzan el pago con Mobile payments tarjeta sin Social Media firma ni pin BBVA y Bankia han lanzado un nuevo Digital Marketing servicio conjunto que permitirá al cliente realizar pagos de hasta 20 euros con tarjeta sólo con acercarla Crowd finance a un lector y sin necesidad de firmar recibo ni teclear número pin, según App ecosystem anunciaron ambas entidades. Source: EUROPA PRESS New Gizmo era Mobile banking trends to watch out New banking for in 2012 concepts Mobile banking will continue to grow next year across a multiple fronts. Not only will more banks jump Join & enjoy into mobile with optimized sites and application, but financial institutions will also build their existing mobile programs with a variety of new services. Smart cities + urban mobility Source: Mobile Comerce daily, December 30, 2011 Health Innovation Edge January 2012 | SIMPLE BANK page 47 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 48. Trending issues Core banking platform New formats Mobile banking Enterprise 2.0 Mobile payments Social Media Digital Marketing Crowd finance Google persuades Spanish bank BBVA to use the cloud App ecosystem The bank would use Google applications like email, calendar, docs, chat, video conferencing and other collaboration tools to “achieve New Gizmo era a cultural change” and get “the whole company working together” across the 26 countries where BBVA is based. New banking Source: BBC News, January 11, 2012 concepts Join & enjoy Smart cities + urban mobility Health Innovation Edge January 2012 | SIMPLE BANK page 48 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012
  • 49. Trending issues Core banking platform New formats Mobile banking Enterprise 2.0 Mobile payments El móvil reemplazará al pago en efectivo en 2016, según PayPal. Social Media En 2016, utilizaremos nuestros teléfonos móviles como método de pago de bienes y servicios casi en mayor medida que las compras Digital Marketing en efectivo, con cheques o tarjetas. Así al menos lo considera PayPal, que ha publicado un informe (Money: The Digital Tipping Crowd finance Point), llevado a cabo por Forrester, según el cual 45 millones de británicos utilizan ya un móvil y cerca de la mida de los 550 compradores móviles encuestados (49 por ciento) aseguran que App ecosystem se están planteando utilizar su terminal para comprar bienes y servicios al menos una vez cada tres meses.. New Gizmo era Source: IDG New banking concepts Adiós Google Checkout, hola Google Wallet Join & enjoy Nuevos movimientos de la compañía líder de Internet con los que reorganizar su oferta de Smart cities + servicios online.. urban mobility Source: Desarrolloweb.com, November 21, 2011 Health Innovation Edge January 2012 | SIMPLE BANK page 49 Disclaimer: This is confidential information for internal use only. This information must not be disclosed to any third party, must not be used for advertising and/or promotion activities and not be reproduced in whole or part unless authorized in writing by an authorized representative of BBVA group. © copyright BBVA 2012