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Building the 10x better bank
The document discusses strategies for creating a competitive, customer-centric banking experience through digital transformation and an omni-channel approach. It highlights the importance of integrating experience across channels, leveraging technology such as APIs, and prioritizing customer experience to stay ahead of emerging competitors. The goal is to enable financial institutions to adapt and thrive in a rapidly changing landscape.
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Building the 10x better bank
- 1. @joukpleiter & @jelmerdejong Buildingthe 10x better bank
- 2. 2 New Competitors inBanking
- 3. New competitors inbanking 3 Shift in Customer Demand
- 4. New competitors inbanking 4 Shift in Competitive Landscape
- 5. New competitors inbanking 0 5 10 15 20 25 30 5 Who do you see as the Biggest Threat?
- 6. New competitors inbanking 6 Where are you Investing? 0% 50% 100% Digital Channels Customer Service & Experience New Products & Services Physical channels distritbution Core Systems & Processes Increase No Change Decrease
- 7. New competitors inbanking 1. Start with the customer experience 2. Pursue an omni-channel delivery model 3. Make mobile the key growth channel 4. Regain control over your digital strategy 5. Digital Transformation Economics In short: Beat the Disrupters at their own Game. 7 Digital Transformation – Disrupt Yourself
- 8. 8 Customer Experience: TheKey Ingredients
- 9. Customer experience: thekey ingredients 0 5 10 15 20 25 30 Too many silos Shortage of quality people Projects take too much time High costs Nu support from senior management No or low customer culture 9 Customer Experience Roadblocks
- 10. Customer experience: thekey ingredients 10 Challenge: Too Many Silo’s Secure Portal 1 Secure Portal 2 Mobile App 1 Mobile App 2 Intranet App 1 Extranet App 1
- 11. Customer experience: thekey ingredients 11 Move to a Unified CX Layer Customer Experience Platform Superior Experience Personal & Relevant Fast & Frictionless Anytime Any place Application Integration CRM Integration Process Integration Security & Compliance Existing Systems CRM Processes IDM SSO
- 12. Customer experience: thekey ingredients 12 A paradigm shift: Outside-in Approach Outside-in Customer enablement Inside-Out Web/Mobile Enablement
- 13. Customer experience: thekey ingredients 13 Enabling Seamless Customer Journeys Source:
- 14. Customer experience: thekey ingredients 14 Challenge : Projects take too much Time
- 15. Customer experience: thekey ingredients 15 A paradigm shift: Two Speed Architecture Customer Oriented Functions Back Office Functions
- 16. Leverage Pre-build DigitalAccelerators Customer experience: the key ingredients 16 Launchpad Widgets Retail | Wealth | Commercial 1
- 17. Customer experience: thekey ingredients Culture & Process - New Digital Power Values 17 Old IT Power Values New Digital Power Values
- 18. 18 Omni-channel and thechanging channel mix
- 19. Omni-channel and thechanging channel mix 61% 25% 8% 6% Extremely important Very important Important Somewhat important 19 Seamless Omni-Channel Experiences
- 20. Omni-channel and thechanging channel mix 20 Current Status of the Omni-Channel 19% 30% 25% 22% 4% Expanding Deploying Experimenting Exploring Not on our radar
- 21. Omni-channel and thechanging channel mix 21 From Channel Islands to Omni-Channel Source: Forrester Wave for Omni-Channel Banking, September 2015. “Banks will move from Channel Islands to Omni-Channel Banking. This is not about just technology, it's about the path to great customer experience (CX) across all channels, using the right customer touch-point at the right time.”
- 22. Omni-channel and thechanging channel mix 22 Vertical monoliths vs Horizontal Layers
- 23. Omni-channel and thechanging channel mix 23 Widgets: Re-Usable Business Capabilities Omni-channel CXP Re-Usable Widgets P2P, Bill Pay, Transfer, …. Payments Messages, Notify, Alert, Chat, … Communication Core Banking, Cards, Accounts, … BANKING SYSTEMS Portfolio, Coupons, Offers, eCommerce, ... 3RD PARTY APPS Spend Analysis, Goals, Cash flow, … PFM Marketing, Campaigns, FAQ, Support, ... Content Origination, Self-Service, etc. Origination
- 24. Omni-channel and thechanging channel mix 24 Omni-Channel Orchestration Layer Core Systems Core Systems Digital Banking Services • Banking: Transactions, Cleansing, Categorize, Enrich, Savings, Budgets, Payments, Accounts, Entitlements, … • Universal: Alerts, Notifications, Message Center, Auditing, Contacts, … • Re-Use & Rationalize Existing Systems Widget Widget Widget Widget API API API Digital Banking Services CXP Integration Services
- 25. Omni-channel and thechanging channel mix 25 Four Scenarios of the Future Bank After Alessandro Hatami, published on Banknxt. Scenario 1 Better Bank Scenario 2 New Bank Scenario 3 Distributed Bank Scenario 4 Omni-Channel Bank Built-for-Digital Banking Platform Digital Banking Interface Banking Services Aggregator Full Omni-Channel Banking Interface Fintech Providers Fintech Providers Fintech Providers Legacy Banking Platform Fintech Providers Fintech Providers Fintech Providers Banking Platform Customers
- 26. Startups win bydoing one (1) thing well Banks win by integrating the UX using APIs. 26
- 27. Omni-channel and thechanging channel mix Technology : API Gateway Enterprise API Delivery Platform • Leverage existing systems, processes, & relationships • Support multiple platforms from a single infrastructure • Convert backend interfaces into usable external APIs • Meet enterprise security, compliance, & operational requirements Partners API Owners Applications Own APIs 3rd Party APIs Partner Platform Internal Platform
- 28. Omni-channel and thechanging channel mix Business : Accelerate Digital + Monetize your Assets
- 29. 29 Regain control inthe era of digitization
- 30. Regain control inthe era of digitization 0 10 20 30 40 50 60 Physical Channels Agents Contact Center Online (web) Mobile Other 30 What channel drives the most revenue? 2015
- 31. Regain control inthe era of digitization 0 10 20 30 40 50 60 Physical Channels Agents Contact Center Online (web) Mobile Other 31 And your expectations for 2020? 2020
- 32. Regain control inthe era of digitization 30% 25%7% 7% 30% 1% Public Marketing Site Campaign Pages Closed Internet Banking Mobile Apps Social Media Other 32 What Channels can Business Manage?
- 33. Regain control inthe era of digitization 33 Capitalize on your OLB / MB Traffic 15% 85% Bookmarks Mobile Public Site Closed Environment
- 34. Regain control inthe era of digitization 34 Create, Measure and Optimize Journeys
- 35. Regain control inthe era of digitization 35 Empower Business with Visual CX Editor
- 36. Regain control inthe era of digitization 36 Enable Business & IT collaboration
- 37.
- 38. Digital transformation economics 38 DigitalBanking Economics – Channel Costs $ 4.10 $ 0.50 $ 0.05 Source:
- 39. Digital transformation economics DigitalBanking Economics – Channel Costs
- 40. Digital transformation economics 40 TheBranch is Certainly Not Dead Source:
- 41. Digital transformation economics Impact– Digital correlates with Profit Margin
- 42. 42 Banks need tostart their journey now
- 43. Start your journeynow Our mission is to help Financials to Create, Manage, and Optimize Omni-Channel Customer Interactions. 43
- 44. Start your journeynow 44 Backbase = Omni-Channel Banking Leader Forrester Market Wave for Omni-Channel Banking Solutions Jost Hopperman (September 2015) “Backbase leads the Pack”. ü Broad business capabilities, ü Rich customer experience, ü Very solid technology and architecture
- 45. Start your journeynow Digital Transformation RoadmapDigital Transformation Not restricted to channels or technology only, needs to be a holistic transformation across back- office, staff and operations as well. About building the right mix of “Bricks and Clicks”. No silver bullet, it has to be unique strategy based on business drivers, customer segment, goals etc.
- 46. Start your journeynow 46 Our Mission: Make you a digital leader
- 47. Get the report 47 Efma& Backbase present Omni-channel banking The digital transformation roadmap All you need to create the 10x better bank. - 15+ executive interviews - 100+ survey respondents - 7 habits by Roberto Ferrari See @backbase on Twitter.
- 48.
- 49. www.backbase.com Thank you! @joukpleiter &@jelmerdejong
Editor's Notes
- #6 When it comes to industry disruption, who or what do you see as the biggest threat? 25% says technology companies as Google, Apple, Amazon. 22% says startups as Square, Stripe, etc. 19% says neobank of existing players (Simple by BBVA, Touch Bank by OTP Group)
- #7 How is your bank investing in 2015? Most agree Increase spent: 1) Digital channels 2) Customer Experience
- #10 The top 3 roadblocks Projects take too much time Too many silos High costs
- #17 Expensive Three platforms (iOs, Android, Windows), 3 dev-teams Manageability IT has content management, business can’t do anything Cross-device Journey From phone > tablet > desktop without losing dating / picking up where one left off Cross-device Insights Measuring all these different journey’s
- #20 ALL in our survey say creating a seamless omni-channel experience is important The majority (86%) saying it is very or extremely important.
- #21 However, when all find it important, only 19% have it currently running. Rest is still exploring, experimenting or busy deploying.
- #38 Critical Business Issue eBusiness and channel strategy executives need to develop a new generation of digital financial services that are SUPER: simple, ubiquitous, personal, empowering, and reassuring. Most online banking solutions are good at the basic online transaction capabilities. Rising customer expectations mean that financial services e-Business executives need to fundamentally improve the way they serve customers via digital channels that go way beyond today's transaction capabilities. Backbase Solution Backbase Bank 2.0 Portal offers a single platform to manage, monitor and optimize all your online customer interactions. It enables Banks to create a seamless customer journey between public and personal information and across multiple devices and channels.