8. 5. User Generated Content
Web-based Content
Millions of Content Creators Thousands of Publishers
(Consumer)
8
9. 6. Organic Knowledge
Business Intelligence is the #1 priority and IT growth spend…
Documented / Formalized Organic / Experiential
Chat
Tagging
Reports Glossaries
Notes Previous Actions
Help Systems Research Comments
Business Rules Taxonomies Communities
Blogs
Wikis
9
15. The Banking/Investment Ecosystem of Old
High Net Worth Financial Advisor Concierge
Online Statement
Mass Affluent Consultancy,
Financial Advisor
(Investment) Collaborative
Portfolio
Institution Email
Banking Self-Service
Online Mobile
Statement CSR
Credit Cards Mortgage
Checking Account Savings Account
CD
15
16. The Evolution of the Banking Ecosystem
High Net Worth Financial Advisor Concierge
Institution Email
Online Statement
Mass Affluent
Banking Consultancy,
Financial Advisor
(Investment)
+ Online Mobile
Collaborative
Consolidated
Mass Affluent Statement
Statement CSR
(Investment)
Credit Cards Portfolio Mortgage
Portfolio
Checking Account Savings Account
CD
Institution Email
Banking
Online Mobile
Statement CSR
Credit Cards Mortgage
Checking Account Savings Account
CD
16
17. Financial Institutions are Changing Forever
Vanishing Act: Wall street is disappearing through mergers and acquisitions – and recent failures
17
19. Customer Experience as a Differentiator
Products & Services Service Channels Customer Experience
Portfolio
• Checking/savings • Internet banking • Value added products
accounts • ATM network and services based on
• Mortgage • 24x7 Call center deeper understanding
• Debit/credit cards • IVR & email support of customer behavior
• Investment products • Mobile banking • Efficient multi-channel
• Third party transfers • Online chat customer experience
• Bill payment • Reduced cost of
servicing
19
21. Managing Customer Experience
79% of consumers will commit to a deeper product or service relationship with a
brand after a satisfying experience.
Create advocates!
Advocates…
• spend more
• remain customers longer
• refer new customers
59% of customers who have multi-channel interactions will stop doing business with
the brand after just one bad experience - 2004 IBM customer study
21
22. Optimizing a Multi-channel Experience
Research ATM
Transact Branch
Website Branch
Call center Secure Website Mobile
Website
Apply Branch
Call center
Mobile
IVR
Email
Support Feedback
22
23. Optimizing Cost vs. Value
Scenario: Open an account
Perceived value Customer convenience
- Personalized service - Time and effort
- Privacy and security
- Advice
Website Website Call center Branch
+
Perceived
value
Customer
convenience
Cost per transaction
23
24. Converting a Visit Into a Relationship
Convert Service Engage
• Highlight value proposition • Offer self-serve channels • Maintain communication
• Educate on products • Provide proactive across channels
• Support product selection communication and support • Advise to make good financial
• Simplify application process • Contextually up sell products decisions
• Contextually up sell products and services • Offer value added services
• Address privacy and security and products $ $
concerns Sha re $
Wallet $ $
Loyalty
ction Proactive
Satisfa Enriching
$ Responsive Rewarding
Reliable Advisory
Persuasive Consistent
Emotive
Predictable
Trustworthy
24
27. Business Strategy Converges on User Experience
Business Strategy
& Vision
Data
Applications A
B
Technology C
IT Infrastructure Competitive Landscape
Target Audience
27
28. Staying Ahead by Looking at the Future
How do you get there?
Where are you now?
Where do you want to be?
28
29. Stakeholder Visioning
Priorities of Individual Stakeholders Unified and Executable Vision
Competitive
advantage Better access to
Greater company
agility knowledge
Higher
Stakeholder
employee
Lower costs
satisfaction visioning
Faster time
to market
Siloed and disconnected… Concrete and operational…
29
30. Stakeholder Visioning
Priorities of Individual Stakeholders Unified and Executable Vision
Stakeholder
visioning
30
31. Assessing Current State
How do you get there?
Where are you now?
Where do you want to be?
31
33. Think Personas: Your Customers and their Goals
Information driven Feature driven Value driven
Ryan Phil
Michelle
38 years old, Sales 58 years old, CEO
24 years old, MBA Manager
Starting her first job Planning for retirement.
Always on the move…
as HR Manager Christina Rosa and Alan Jim
45 years old, Single Mom 39 and 42 years. I would like to know about 48 Years, VP Telecom
I m ready to focus on my finances. I want to bank at my convenience investments options.
Moved to new town, new They d like to begin college Manages several accounts
people, new bank funds for their two kids and credit cards
Banking has to be as efficient as I
We need an easy way to plan for our
I want a secure future for my child am. It should be there when I need
children and protect our assets.
it and it has to be simple.
§ Product research § Multi-channel § Multi-product, multi-channel
§ Product comparison and § Customer support § Value added services
selection § Account application § High value transactions
§ Account application § Value added services § Smart financial decisions
§ Learn about privacy and
security measures
Educate Service and Advise
Communicate
33
34. Understanding the Current Assets
Utilities
Bill Pay Brokerage
Trading
Retail Insurance
Bank
Payment Gateway Premium Payments
AMC
Investments / SIP
Other Banks
Funds Transfer
34
39. 2. Experience Trumps Performance
Products & Services Service Channels Customer Experience
Portfolio
• Checking/savings • Internet banking • Value added products
accounts • ATM network and services based on
• Mortgage • 24x7 Call center deeper understanding
• Debit/credit cards • IVR & email support of customer behavior
• Investment products • Mobile banking • Efficient multi-channel
• Third party transfers • Online chat customer experience
• Bill payment • Reduced cost of
servicing
39
40. 3. The New Banking/Investment Ecosystem
High
Net Worth
Banking + Mass Affluent
• Integrated, less stratified
• More products and services
• Optimized Advisor-Investor intimacy
• Effective channel strategy
40
41. 4. Persuasion in Design
Performance Design Persuasion Design
can do will do
Validation
Design
Assessment
Strategy
Science
Performance + Persuasion = conversion, contribution, uptake, usage…
41
42. 4. Persuasion in Design
Persuade me to…
Collaborate
Contribute
Research
Take Action
42
