This document discusses digital trends across several financial services industries including banking, asset management, insurance, and lending. It notes that customers are demanding more convenient digital capabilities and are willing to pay for services that offer more value. It also discusses how various industries are facing disruption from new digital entrants and business models. The document explores how established brands can meet evolving customer needs through approaches like being always-on, providing accessible advice, enabling peer investing, developing direct-to-consumer platforms, and using data to power personalization.
The drive towards digital transformation begins with the customer and extends far into the company, impacting every area of the organization from vision and strategy to architecture, technology, operations, and culture. While not insurmountable, these changes can be challenging.
Guest speaker Nigel Fenwick, an analyst with Forrester, and Michael Porter, Perficient’s principal strategic advisor, discussed the top 5 barriers to a successful digital transformation, and how some real-world companies have overcome them.
We covered five barriers to digital mastery and how to:
-Overcome functional silos and resource scarcity
-Deal with segregated customer data
-Address technical budgets that are in a downward spiral
-Move from a product-centered to a customer-centered approach to business
-Break down the IT and business barrier
What banks will have to work on over the next couple of years:
in 2013, bank customers have spent 400 minutes per year in the digital channels, but only 1 minute per year on average in direct contact with their bank advisor. 60% of the European population just never went into any bank branch at all (excluding ATM usage). However 90% of the sales still comes from the branches.
Banks will have to fundamentally address this challenge and see how they can become more relevant to consumers and how to sell online.
This keynote addresses the fundamental issues of banks from three perspectives:
- The challenges the users want to have solved
- The challenges coming from an external, market / competitive environment
- The challenges the business has to solve internally
The presentation is fun and thought provoking containing many fresh ideas on the future of banking. Feel free to get in touch!
Κεντρική Ομιλία: Κωστής Χλουβεράκης, Επικεφαλής Γενικής Διεύθυνσης Digital Banking, Eurobank
Τίτλος Ομιλίας: «Καινοτομία στην σημερινή Τράπεζα: Προκλήσεις, Τάσεις και Προοπτικές»
Going Digital: The Banking Transformation Road MapSemalytix
The leaders in digital banking are more client-centric, tech-savvy, and inclusive—and are fundamentally changing to deliver the best results.
Most banks today want to become digital banking leaders—after all, that's where the customers are. And for much of the past decade as digital banking has taken hold, most leading traditional banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the leaders understand the importance of mobile in a digital strategy, they are developing more agile operating models, and, most notably, they have tackled the need for internal culture shifts (see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly through the end of the decade, all banks will have to adapt to a disruptive model in people and IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even those are facing major changes. In particular, as more customers use their mobile phones and tablets to do their banking, and omnichannel takes hold in financial services, the mobile experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their operating models. In particular, changes in IT, new products and services development, and changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic, profound reset of how banking staff reacts to customer needs. This means thinking customer first, rather than by channel; as one panelist puts it, "Banks think in channels, but customers don't." It means being conscious that small digital players can gain market share faster and in a manner that is more disruptive to traditional banks' models. It means understanding that organizational silos pose significant obstacles to creating new solutions for customers. Most importantly, it means looking inward, changing organizational beliefs and habits to facilitate clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes, becoming more agile, and improving openness in day-to-day business.
- See more at: http://www.atkearney.com/latest-article/-/asset_publisher/lON5IOfbQl6C/content/going-digital-the-banking-transformation-road-map/10192?_101_INSTANCE_lON5IOfbQl6C_redirect=#sthash.oKsJGij3.dpuf
Keynote: The User Experience Strategy behind one of Europe’s largest Digital ...Stefan F. Dieffenbacher
The User Experience Strategy behind one of Europe’s largest Digital Transformations is a presentation that summarizes the digital strategy approach taken for a key bank in Europe.
It takes the reader through three stages:
1. Why was a digital strategy required to start with? Why could the bank no more operate as-is?
2. What was the overall solution and design approach? At this point in time, the Digital Leadership strategy framework is being introduced.
3. How was the actual solution developed across both phases? In the first phase, the presentation talks through the key steps, namely:
3a. customer segmentation
3b. persona development
3c. understanding of user needs
3d. understanding of business needs
3e. developing an overarching vision based on business goals and user needs
3f. Deriving the functional scope - termed at Digital Leadership a Scope Landscape
The second phase then goes on to detail out the solution approach which was basically about detailing out the strategy from phase 1 and validating it in details.
The drive towards digital transformation begins with the customer and extends far into the company, impacting every area of the organization from vision and strategy to architecture, technology, operations, and culture. While not insurmountable, these changes can be challenging.
Guest speaker Nigel Fenwick, an analyst with Forrester, and Michael Porter, Perficient’s principal strategic advisor, discussed the top 5 barriers to a successful digital transformation, and how some real-world companies have overcome them.
We covered five barriers to digital mastery and how to:
-Overcome functional silos and resource scarcity
-Deal with segregated customer data
-Address technical budgets that are in a downward spiral
-Move from a product-centered to a customer-centered approach to business
-Break down the IT and business barrier
What banks will have to work on over the next couple of years:
in 2013, bank customers have spent 400 minutes per year in the digital channels, but only 1 minute per year on average in direct contact with their bank advisor. 60% of the European population just never went into any bank branch at all (excluding ATM usage). However 90% of the sales still comes from the branches.
Banks will have to fundamentally address this challenge and see how they can become more relevant to consumers and how to sell online.
This keynote addresses the fundamental issues of banks from three perspectives:
- The challenges the users want to have solved
- The challenges coming from an external, market / competitive environment
- The challenges the business has to solve internally
The presentation is fun and thought provoking containing many fresh ideas on the future of banking. Feel free to get in touch!
Κεντρική Ομιλία: Κωστής Χλουβεράκης, Επικεφαλής Γενικής Διεύθυνσης Digital Banking, Eurobank
Τίτλος Ομιλίας: «Καινοτομία στην σημερινή Τράπεζα: Προκλήσεις, Τάσεις και Προοπτικές»
Going Digital: The Banking Transformation Road MapSemalytix
The leaders in digital banking are more client-centric, tech-savvy, and inclusive—and are fundamentally changing to deliver the best results.
Most banks today want to become digital banking leaders—after all, that's where the customers are. And for much of the past decade as digital banking has taken hold, most leading traditional banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the leaders understand the importance of mobile in a digital strategy, they are developing more agile operating models, and, most notably, they have tackled the need for internal culture shifts (see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly through the end of the decade, all banks will have to adapt to a disruptive model in people and IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even those are facing major changes. In particular, as more customers use their mobile phones and tablets to do their banking, and omnichannel takes hold in financial services, the mobile experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their operating models. In particular, changes in IT, new products and services development, and changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic, profound reset of how banking staff reacts to customer needs. This means thinking customer first, rather than by channel; as one panelist puts it, "Banks think in channels, but customers don't." It means being conscious that small digital players can gain market share faster and in a manner that is more disruptive to traditional banks' models. It means understanding that organizational silos pose significant obstacles to creating new solutions for customers. Most importantly, it means looking inward, changing organizational beliefs and habits to facilitate clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes, becoming more agile, and improving openness in day-to-day business.
- See more at: http://www.atkearney.com/latest-article/-/asset_publisher/lON5IOfbQl6C/content/going-digital-the-banking-transformation-road-map/10192?_101_INSTANCE_lON5IOfbQl6C_redirect=#sthash.oKsJGij3.dpuf
Keynote: The User Experience Strategy behind one of Europe’s largest Digital ...Stefan F. Dieffenbacher
The User Experience Strategy behind one of Europe’s largest Digital Transformations is a presentation that summarizes the digital strategy approach taken for a key bank in Europe.
It takes the reader through three stages:
1. Why was a digital strategy required to start with? Why could the bank no more operate as-is?
2. What was the overall solution and design approach? At this point in time, the Digital Leadership strategy framework is being introduced.
3. How was the actual solution developed across both phases? In the first phase, the presentation talks through the key steps, namely:
3a. customer segmentation
3b. persona development
3c. understanding of user needs
3d. understanding of business needs
3e. developing an overarching vision based on business goals and user needs
3f. Deriving the functional scope - termed at Digital Leadership a Scope Landscape
The second phase then goes on to detail out the solution approach which was basically about detailing out the strategy from phase 1 and validating it in details.
Digital banking: Why are banks not performing as well as they could do?Stefan F. Dieffenbacher
Driven by the top Internet players the speed of change in the financial services market is rapidly increasing. To secure their business and generate further growth the large-scale Internet players are forced to attack additional markets and the financial services market is one of them.
Leading Internet players will conquer the financial services market by
- utilizing their global customer base and advanced customer intelligence (data),
- by connecting today separated services to an eco system using technology
- and their ability to move fast.
Banks will have to react to the digital threads and do their homework. Some of the core actions required to achieve a better positioning in the digital channels are proposed within this slideshare.
Deloitte Digital NL - Voice of the customer (CB seminar)Victor Hoong
In early 2013, Deloitte and Bazaarvoice partnered to investigate what online consumer feedback reviews could reveal on the relationships between NPS, price, product assortment and customer service. In a short 5 week project 7.8 million customer reviews across 230 different businesses were interrogated. A selection of the key findings were included in this short presentation given at the Deloitte Consumer Business Predictions event @Rotterdam May 2013.
The upside to digital banking – Reduced transaction costs. What about the downside – Increased customer remoteness. In a world where building share of wallet is a top marketing priority, how do you build personal engagement with less and less face to face contact?
According to Gallup Research, “customers that are fully engaged represent an average 23% premium in terms of share of wallet, profitability, revenue, and relationship growth.”
How disruptive Innovation can be realized in Banking & Insurance
Why is this successful?
- results are almost guaranteed due to the funnel
- winning ideas are likely to be AWESOME, because they have seen many iterations
- bad ideas drop out immediately high cost savings
- highly motivated employees
We create new products/services, entire startups or a digital unit for you
With our approach, team, technology and entrepreneurial attitude we identify, validate and evolve business opportunities and quickly turn them into highly profitable businesses – potentially even realizing a disruptive product. We have a proven track record with top market players across a wide range of industries. Talk to us to see how we can develop awesome ideas for your digital future.
We love to design the future – together with you.
1 | Robust Framework
A blend of the best Silicon Valley-proven methodologies forms our comprehensive framework:
Design Thinking
Business Model Generation,
Lean Startup, Lean Marketing, Lean Analytics,
Customer Development,
Agile, Scrum, Kanban …
We guide the project team throughout the process using our framework.
1 | New products, services and disruptive business ideas
We build digital products and services for B2C and B2B that we validate in multiple iterations with your potential customers. In the next stage, we launch the product/service as a Minimum Viable Product (MVP) to validate it by a larger target group and that’s when we start pivoting and tweaking. If customers love the product/service and are willing to pay for it, we consider the product investment ready and that’s when we start growth-hacking the new business. Naturally, all decisions are data-driven.
THIS IS AWESOME - Company Builder
2 | From new departments to entire startups
New products and services lead to:
a new venture as an autonomous business that may later be reintegrated back into your existing organization
a new department within your exiting organization
adoption by an existing department within your organization
You can count on our experience, knowhow and resources every step of the way.
3 | Innovation unit / Digital unit
Talk to us if you want to set up your own innovation or digital unit within your organization. We can get you standing on your own two feet by training you to use our framework and handing over everything you need to run the CATAPULT™ software stack on your own. Technology
With our HR, training and mentoring programs, we’re with you every step of the way until you’re ready to run independently. Talents
Keynote: why are Innovations critical for Banks & Insurances?
A perspective on the Financial Services industry: the amount of changes will only accelerate.
- Exponential technologies are driving change; convergence of several disciplines from software to devices to biotech
- Our expectations as consumers are set by our online experience from services such as Facebook, Google or Amazon
- Disruption pattern: startups put themselves in-between the customer and the company
(i.e. check24)
- Industry changes leading to further FinTech & InsureTech investments
- Margin pressure: banks & insurrance by the lowest interest rates we have seen in 2.000 years
- User Experience is driving value in a new way – and most startups understand customer-centricity
- Banks & Insurance companies are under pressure because their offering is fundamentally undifferentiated
- Regulators are opening up: i.e. PSD II forces the banks to open up their data; full disclosure of insurance commissions will arrive soon
- Customers don’t want to be ‘told’ anymore: they don’t come to branches anymore - buy how can advice as the key point of sales be digitized?
Banks need to build up digital capabilities based on 5 pillars plus 1 enabling capability:
(1) DATA-DRIVEN DIGITAL INSIGHTS
- Data-driven segmentation & Value Proposition Design
- 360° single customer view
- Customer Experience excellence
- Comprehensive data ecosystem, including 3rd party APIs
(2) CUSTOMER EXPERIENCE EXCELLENCE
- Customer-centric experience design & processes
- Omni-channel experience delivery
- Journey consistent front-to-back, end2end
- Clear brand positioning & brand amplified by a purpose
(3) DIGITAL MARKETING
- Data-driven, real-time segmentation & cohort analysis
- Data-driven customer- life-cycle management
- Targeted digital (performance) marketing
(4) DIGITALLY ENABLED OPERATIONS
- Operations are designed to support customer journeys
- Streamlined and automated fulfillment processes
- Digitized sales and service interactions
(5) SMART TECHNOLOGY SETUP
- Scalable application architecture
- Flexible IT architecture (i.e. SOA) with clear messaging
- Flexible IT infrastructure
(6) DIGITAL ENABLERS
- Digital Talent Management
- Value-driven Organisation & governance
- Test-and-learn culture
We feel honoured McKinsey copied this model in the following article:
Cutting through the noise around financial technology, Feb 2016: http://bit.ly/1Rtz0AF
Index Communications Meeting Services: the motivation for committing to the Digital Destinations programme was to focus our Company’s development of web marketing and pre conference learning opportunities to the benefit of our Clients. Also, to increase a provide a positive profile within social media domains, securing further referrals which will result in repeat business. Through our involvement in this programme Index Communications has benefited in receiving a fresh input, away from Company day to day pressures, from the University Team and our co-horts which has assisted in identifying areas of development for our future sustainability.
Building Loyalty and Trust Through Continous EngagementYourCareUniverse
In the contemporary healthcare market, consumers are constantly evaluating their purchase decisions. The key to thriving in the age of increased competition and consolidation is to cultivate consumer loyalty by offering value over an extended period of time. This session will explore ways hospitals can drive engagement with their community by providing robust content and health and wellness tools to increase brand affinity.
Modernize Core Technology to Accelerate Digital TransformationPerficient, Inc.
Digital transformation efforts often focus solely on customer experiences. However, CX is just one piece of a successful digital transformation strategy. While external experiences must change to deliver new channels and personalized service, internal operations and systems must also be transformed to increase efficiency, enable innovation, and transcend touchpoints to deliver a truly seamless customer experience.
View this SlideShare and learn how:
Digital predators are approaching platform modernization
APIs, IoT, cloud, data and analytics, DevOps and microservices drive innovation and support digital transformation
To evaluate your current platform and identify ways to align IT changes with your digital transformation goals
To create a roadmap for implementing core process and technology changes
This is the corporate presentation for iCAN-Global, a global company committed to providing digitally delivered education, business and technology advisory, acceleration and commercialization services to early, emerging and mature businesses.
Whitepaper: Why banks need to move if they want to own banking in the future.Stefan F. Dieffenbacher
1. Executive Summary
Driven by the top Internet players the speed of change in the financial services market is rapidly increasing. To secure their business and generate further growth these Internet players are forced to attack additional markets and the financial services market is one of them.
They will conquer the financial services market by
• utilizing their global customer base and advanced customer intelligence (data),
• by connecting today separated services to an eco system using technology and delivering advanced user experience
• and their ability to move fast.
Their entry point to the financial services market is the offering of payment services to their clients through the use of their mobile devices. Extending the functionality of wallets will challenge classical retail banking’s value proposition as these Internet companies can go far beyond classical value propositions.
Some traditional financial services companies already start to understand that the time for a change has come, as these developments will challenge their core business models in very few years. For the first time, this many large-scale companies are starting to invest in programs in large excess of €500m to become better in digital.
While huge investments are not a sufficient reaction to the challenges of the market, players that will not follow the trend will lose their current position in the next years.
Traditional bank’s service offering and channel mix needs to be further rethought and adapted, followed by a fast-paced execution to respond to today’s quickly emerging reality. Players who are not able to manifest their position in the digital channels soon will be challenged in their existence.
The strategic transition needs to be guided by a short-term tactical approach to seriously start earning money in digital. On top of the pure positive financial impact of such a tactical approach, achieving significant sales through a much stronger public website as well as data-driven up- and cross-selling measures will start a cultural shift within the bank. When executives and employees discover that suddenly the digital channels generate large amounts of money, a movement of change could be kicked off. That would be the basis to understand the urgency and the possibility to develop a guiding coalition – the start of any strong change process.
2. Introduction
We are convinced that banks needs to even further raise their attention to their Digital Channels and some necessary adoptions of their business models to stay long term successful. We have rationalized our analysis and proposed actions by a large body of research and facts, which provide deep evidence and insights in recent market evolutions.
To provide a complete picture we showcase recent alterations and transformations in diverse industries, highlight the changing face of the insurance industry and subsequently dive into an analysis of the banking industry. We cover w
Earley Executive Roundtable on Data Analytics - Metrics for Measuring the Cus...Earley Information Science
Session 3 of a 4 part series. Panel discussion with
– Dr. Asuman Suenbuel, Senior Technical Advisor, Global Startup Focus Program, SAP
– Gary Parilis, Chief Research Officer, Greenwich Associates
– Pratibha Vuppuluri, Founder & Principal, KeyInsite
– Stuart Williams, Vice President, TBR
Advertising and Marketing Technology Perspective - November 2013
By Julie Langley, Managing Director at Results International Group LLP
Latest perspective on the advertising and marketing technology sector which looks at M&A and financing trends across areas such as marketing automation, analytics, e-commerce, social media, mobile and video.
Skapa - West Sweden Chamber of Commerce Aug 31, 2018Erik Ekholm
This is a presentation I held for a group of executives in a Go Global group at the West Sweden Chamber of Commerce focusing on online marketing for international operations.
Topic: The Digital Experience and the Human Experience
- Digital experience – the new heart of customer engagement
- Working with nothing to create something: Halebury’s digital journey
- People led platforms, personal branding and the SocialHuman lawyer
- Connecting with content
- Three mantras to live by
'Change the game' conference june 2015 nick eatockVictor Oppong
Nick Eatock will be sharing Intelliflo’s digital advice vision looking at changing consumer attitudes to finance in a mobile-enabled world. This paradigm shift changes the engagement model and can put advice businesses in pole position for customer primacy with our new version of Personal Finance Portal. It can help deliver truly effective customer segmentation, reduced cost to serve and richer engagement. Nick will also cover our new “democratising development” initiative built on iO’s new Communities feature.
Best Practices in Business Innovation: Business Models Changing the Landscape...Aggregage
Companies these days cannot afford to stand still!
Cheryl Perkins, Founder and President of Innovationedge and a visionary business leader, will share best practices of companies who are defining and implementing new business models. These models are used to create new pathways to value and deliver growth in today’s business climate. She will lead you on a journey through business model basics and describe how companies are taking innovation strategy to the next level, while tackling the current challenges of talent management and innovation fatigue.
Digital banking: Why are banks not performing as well as they could do?Stefan F. Dieffenbacher
Driven by the top Internet players the speed of change in the financial services market is rapidly increasing. To secure their business and generate further growth the large-scale Internet players are forced to attack additional markets and the financial services market is one of them.
Leading Internet players will conquer the financial services market by
- utilizing their global customer base and advanced customer intelligence (data),
- by connecting today separated services to an eco system using technology
- and their ability to move fast.
Banks will have to react to the digital threads and do their homework. Some of the core actions required to achieve a better positioning in the digital channels are proposed within this slideshare.
Deloitte Digital NL - Voice of the customer (CB seminar)Victor Hoong
In early 2013, Deloitte and Bazaarvoice partnered to investigate what online consumer feedback reviews could reveal on the relationships between NPS, price, product assortment and customer service. In a short 5 week project 7.8 million customer reviews across 230 different businesses were interrogated. A selection of the key findings were included in this short presentation given at the Deloitte Consumer Business Predictions event @Rotterdam May 2013.
The upside to digital banking – Reduced transaction costs. What about the downside – Increased customer remoteness. In a world where building share of wallet is a top marketing priority, how do you build personal engagement with less and less face to face contact?
According to Gallup Research, “customers that are fully engaged represent an average 23% premium in terms of share of wallet, profitability, revenue, and relationship growth.”
How disruptive Innovation can be realized in Banking & Insurance
Why is this successful?
- results are almost guaranteed due to the funnel
- winning ideas are likely to be AWESOME, because they have seen many iterations
- bad ideas drop out immediately high cost savings
- highly motivated employees
We create new products/services, entire startups or a digital unit for you
With our approach, team, technology and entrepreneurial attitude we identify, validate and evolve business opportunities and quickly turn them into highly profitable businesses – potentially even realizing a disruptive product. We have a proven track record with top market players across a wide range of industries. Talk to us to see how we can develop awesome ideas for your digital future.
We love to design the future – together with you.
1 | Robust Framework
A blend of the best Silicon Valley-proven methodologies forms our comprehensive framework:
Design Thinking
Business Model Generation,
Lean Startup, Lean Marketing, Lean Analytics,
Customer Development,
Agile, Scrum, Kanban …
We guide the project team throughout the process using our framework.
1 | New products, services and disruptive business ideas
We build digital products and services for B2C and B2B that we validate in multiple iterations with your potential customers. In the next stage, we launch the product/service as a Minimum Viable Product (MVP) to validate it by a larger target group and that’s when we start pivoting and tweaking. If customers love the product/service and are willing to pay for it, we consider the product investment ready and that’s when we start growth-hacking the new business. Naturally, all decisions are data-driven.
THIS IS AWESOME - Company Builder
2 | From new departments to entire startups
New products and services lead to:
a new venture as an autonomous business that may later be reintegrated back into your existing organization
a new department within your exiting organization
adoption by an existing department within your organization
You can count on our experience, knowhow and resources every step of the way.
3 | Innovation unit / Digital unit
Talk to us if you want to set up your own innovation or digital unit within your organization. We can get you standing on your own two feet by training you to use our framework and handing over everything you need to run the CATAPULT™ software stack on your own. Technology
With our HR, training and mentoring programs, we’re with you every step of the way until you’re ready to run independently. Talents
Keynote: why are Innovations critical for Banks & Insurances?
A perspective on the Financial Services industry: the amount of changes will only accelerate.
- Exponential technologies are driving change; convergence of several disciplines from software to devices to biotech
- Our expectations as consumers are set by our online experience from services such as Facebook, Google or Amazon
- Disruption pattern: startups put themselves in-between the customer and the company
(i.e. check24)
- Industry changes leading to further FinTech & InsureTech investments
- Margin pressure: banks & insurrance by the lowest interest rates we have seen in 2.000 years
- User Experience is driving value in a new way – and most startups understand customer-centricity
- Banks & Insurance companies are under pressure because their offering is fundamentally undifferentiated
- Regulators are opening up: i.e. PSD II forces the banks to open up their data; full disclosure of insurance commissions will arrive soon
- Customers don’t want to be ‘told’ anymore: they don’t come to branches anymore - buy how can advice as the key point of sales be digitized?
Banks need to build up digital capabilities based on 5 pillars plus 1 enabling capability:
(1) DATA-DRIVEN DIGITAL INSIGHTS
- Data-driven segmentation & Value Proposition Design
- 360° single customer view
- Customer Experience excellence
- Comprehensive data ecosystem, including 3rd party APIs
(2) CUSTOMER EXPERIENCE EXCELLENCE
- Customer-centric experience design & processes
- Omni-channel experience delivery
- Journey consistent front-to-back, end2end
- Clear brand positioning & brand amplified by a purpose
(3) DIGITAL MARKETING
- Data-driven, real-time segmentation & cohort analysis
- Data-driven customer- life-cycle management
- Targeted digital (performance) marketing
(4) DIGITALLY ENABLED OPERATIONS
- Operations are designed to support customer journeys
- Streamlined and automated fulfillment processes
- Digitized sales and service interactions
(5) SMART TECHNOLOGY SETUP
- Scalable application architecture
- Flexible IT architecture (i.e. SOA) with clear messaging
- Flexible IT infrastructure
(6) DIGITAL ENABLERS
- Digital Talent Management
- Value-driven Organisation & governance
- Test-and-learn culture
We feel honoured McKinsey copied this model in the following article:
Cutting through the noise around financial technology, Feb 2016: http://bit.ly/1Rtz0AF
Index Communications Meeting Services: the motivation for committing to the Digital Destinations programme was to focus our Company’s development of web marketing and pre conference learning opportunities to the benefit of our Clients. Also, to increase a provide a positive profile within social media domains, securing further referrals which will result in repeat business. Through our involvement in this programme Index Communications has benefited in receiving a fresh input, away from Company day to day pressures, from the University Team and our co-horts which has assisted in identifying areas of development for our future sustainability.
Building Loyalty and Trust Through Continous EngagementYourCareUniverse
In the contemporary healthcare market, consumers are constantly evaluating their purchase decisions. The key to thriving in the age of increased competition and consolidation is to cultivate consumer loyalty by offering value over an extended period of time. This session will explore ways hospitals can drive engagement with their community by providing robust content and health and wellness tools to increase brand affinity.
Modernize Core Technology to Accelerate Digital TransformationPerficient, Inc.
Digital transformation efforts often focus solely on customer experiences. However, CX is just one piece of a successful digital transformation strategy. While external experiences must change to deliver new channels and personalized service, internal operations and systems must also be transformed to increase efficiency, enable innovation, and transcend touchpoints to deliver a truly seamless customer experience.
View this SlideShare and learn how:
Digital predators are approaching platform modernization
APIs, IoT, cloud, data and analytics, DevOps and microservices drive innovation and support digital transformation
To evaluate your current platform and identify ways to align IT changes with your digital transformation goals
To create a roadmap for implementing core process and technology changes
This is the corporate presentation for iCAN-Global, a global company committed to providing digitally delivered education, business and technology advisory, acceleration and commercialization services to early, emerging and mature businesses.
Whitepaper: Why banks need to move if they want to own banking in the future.Stefan F. Dieffenbacher
1. Executive Summary
Driven by the top Internet players the speed of change in the financial services market is rapidly increasing. To secure their business and generate further growth these Internet players are forced to attack additional markets and the financial services market is one of them.
They will conquer the financial services market by
• utilizing their global customer base and advanced customer intelligence (data),
• by connecting today separated services to an eco system using technology and delivering advanced user experience
• and their ability to move fast.
Their entry point to the financial services market is the offering of payment services to their clients through the use of their mobile devices. Extending the functionality of wallets will challenge classical retail banking’s value proposition as these Internet companies can go far beyond classical value propositions.
Some traditional financial services companies already start to understand that the time for a change has come, as these developments will challenge their core business models in very few years. For the first time, this many large-scale companies are starting to invest in programs in large excess of €500m to become better in digital.
While huge investments are not a sufficient reaction to the challenges of the market, players that will not follow the trend will lose their current position in the next years.
Traditional bank’s service offering and channel mix needs to be further rethought and adapted, followed by a fast-paced execution to respond to today’s quickly emerging reality. Players who are not able to manifest their position in the digital channels soon will be challenged in their existence.
The strategic transition needs to be guided by a short-term tactical approach to seriously start earning money in digital. On top of the pure positive financial impact of such a tactical approach, achieving significant sales through a much stronger public website as well as data-driven up- and cross-selling measures will start a cultural shift within the bank. When executives and employees discover that suddenly the digital channels generate large amounts of money, a movement of change could be kicked off. That would be the basis to understand the urgency and the possibility to develop a guiding coalition – the start of any strong change process.
2. Introduction
We are convinced that banks needs to even further raise their attention to their Digital Channels and some necessary adoptions of their business models to stay long term successful. We have rationalized our analysis and proposed actions by a large body of research and facts, which provide deep evidence and insights in recent market evolutions.
To provide a complete picture we showcase recent alterations and transformations in diverse industries, highlight the changing face of the insurance industry and subsequently dive into an analysis of the banking industry. We cover w
Earley Executive Roundtable on Data Analytics - Metrics for Measuring the Cus...Earley Information Science
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Advertising and Marketing Technology Perspective - November 2013
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Skapa - West Sweden Chamber of Commerce Aug 31, 2018Erik Ekholm
This is a presentation I held for a group of executives in a Go Global group at the West Sweden Chamber of Commerce focusing on online marketing for international operations.
Topic: The Digital Experience and the Human Experience
- Digital experience – the new heart of customer engagement
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- People led platforms, personal branding and the SocialHuman lawyer
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Companies these days cannot afford to stand still!
Cheryl Perkins, Founder and President of Innovationedge and a visionary business leader, will share best practices of companies who are defining and implementing new business models. These models are used to create new pathways to value and deliver growth in today’s business climate. She will lead you on a journey through business model basics and describe how companies are taking innovation strategy to the next level, while tackling the current challenges of talent management and innovation fatigue.
Superfast Business - Getting the most out of online marketing Superfast Business
Superfast Business - offers fully funded support to help ambitious businesses in the South West with a focus on rural areas identify, maximise and profit from the opportunities that superfast broadband and new technologies present. They have a team of expert advisers, a programme of events on hot topics offering inspirational insights and practical solutions and access to IT specialists and knowledge.
The service is aimed at businesses who have heard superfast broadband is coming to their area or are already experiencing good connection speeds and fulfill ERDF eligibility criteria.
Register on their website today to see if your business is able to access the full support package and keep up to date with the latest technologies and information.
w: www.superfastbusiness.co.uk
e: info@superfastbusiness.co.uk
t: 0845 603 8593
Mark Manton - Digital Transformation - Birmingham Marketing ConferenceEdge Global Media Group
Mark Manton, Head of Online Marketing UK&I, Experian
Topic: How Digital Transformation Drives Innovation
Digital transformation is a unique journey for each business on its path to digital maturity. But each business shares a common challenge – how to respond effectively to the radical shift in customer behaviour and online buying habits.
- Embracing the pace of change in digital transformation – the era from Mad Men to Maths Men
- Understand how to successfully make innovation happen through digital transformation
- How to adopt a ‘digitally disruptive’ mindset and culture that enables innovative transformation
- What successful innovation looks like in a digitally mature and transformed business
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Whether you are changing your business model, digital communications road map, or refreshing your website – this presentation will talk you through some practical insights and actions you can take to get your business ready for change.
The presentation looks at organisational culture, agile thinking, resourcing, and workflows critical for success.
It provides often hidden insights gathered from our team, clients and the digital industry on ways to improve strategy and tactical execution of critical digital transformation.
Please feel free to get in touch, if you have any question regarding this presentation or want to find out more about how you can get your business ready for digital change.
How the changing consumer trends due to change in technology and political scenario in India has induced the growth for ecommerce industry with snapdeal as the business model for analysis
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GWR - Digital Transformation in Travel and Transport ORM
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https://viralsocialtrends.com/vat-registration-outlined-in-uae/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
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Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
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In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
2. Locations
ORM is…
An award-winning digital agency composed of thinkers,
creators and innovators.
We lead brands through digital change to confidently
face the future.
Using data and insight to inform our thinking, we
architect strategies, platforms and applications across
owned media.
We enable our clients to take advantage of tomorrow,
while generating meaningful value for them today.
• Part of the Howard Hunt Group
• Group revenue £75m+
• Group employees 450+
• Established and profitable
Our services Our group
Clients
• Strategy and insight
• Experience design
• Content strategy and delivery
• Technology and development
• Client Services
ORM
• Head Office: London Bridge, London
• Project Office: Kings Cross, London
• Development Team: Wroclaw, Poland
GROUP
• Head Office: Dartford, Kent
• US Office: Boston, USA
• Europe Office: Madrid, Spain
• Based in London with 70 staff
• Adobe, Sitecore and EPiServer partner
• RAR Mobile Agency of the Year 2014
• Top 25 UK Agency - Drum Financial Report 2015
• Best FTSE 100 Website award in 2014 for RBS.com
• ISO9001 and ISO27001 accredited
Some facts Clients Locations
4. Convenience
Trends from retail are now
increasing expectations in
financial services
$83bn
—
is lost each year in poor
customer experiences
(IBM)
5. 62%
—
Smartphone penetration
in the UK - Europe
increase 10-20% YoY
We’ve become mobile first
72%
of smartphone owners
use applications on
a daily basis
92%
—
of UK smartphone users
browse the internet daily
on their device
25%
—
of smartphone owners
would rather give up
their PC than their mobile
34%
—
of UK smartphone users
spend as more time on
their mobile as their PC
52%
growth in tablet
ownership; faster than
PCs experienced
84%
of mobile device
owners browse while
watching TV
6. Wealthy individuals are digital natives
48hrs
—
HNWIs spend
this many hours online per
week, on 4 devices
$2500—
is the average one-off online
expensive
purchase by HNWIs
45%
—
luxury buyers influenced by
online videos and tailored
content
$4m
—
those with a net worth in
excess of this tend to be
the most digitally savvy
65%
—
highlight the value
of online collaboration
80%
—
of European HNWIs use
search engines to find
what they need
92%
—
consider digital tech as a
major source of ongoing
wealth generation
7. They use social to research and make decisions
4%
—
of investors currently
interact with their adviser
on social media
52%
—
of investors said they
would connect with their
adviser on social media
30%
—
use social to recommend
a financial product
or service
28%
—
perceive a financial
company as innovative
if they offer social tools
34%
—
subscribe to finance-
related blogs
44%
—
seek advice to help make
a financial decision
33%
—
use social media to
re-evaluate a financial
decision that has already
been made
46%
—
follow a recognised
industry expert/exec
on social media
8. By 2015, “digital natives” will hold the majority
of buying power in the economy, and by 2025,
they will dominate UK savings capacity
– PWC
9. Revolution is coming to your cyberspace very soon!
Timing (years)
0
5
10
15
20
25
30
35
40
45
50
0 1 2 3 4 5
Impact(%changeindigitalbusiness)
Realestate
Professional services
Finance
ICT and media
retail trade
Arts and recreation Government services
Utilities
Recruitment and cleaning
Transport and post
Health
Education
Agriculture
Mining
Manufacturing
Construction
Wholesale trade
Accommodation and
food services
Short fuse, Big Bang
32% of the economy
Long fuse, Big Bang
33% of the economy
Long fuse, Small Bang
18% of the economy
Short fuse, Small Bang
17% of the economy
10. Audience needs are changing
Consumers to
lower-tier intermediaries
Authenticity and
simplicity
• More retail focus to
content
• Features and benefits
• Peer to peer advice
• Educational tools
• Experts as personalities
All expect
Hyper-convenience
• Digital self-service
• Multiple media types
• Responsive and adaptive
• Specific touchpoints for
specific tasks
Intermediaries
to institutions
Accessible expertise
and the inside track
• Audience specific portals
• Thought leadership hubs
• Advice centres
• Access to experts
All expect
More relevance
• Need based navigation
• Personalisation
• Content syndication
12. Customers are demanding innovative digital capabilities to access financial products and
are willing to pay for services they believe will offer more convenience and value
• Telephone banking - HSBC call volumes down 5% in 2014 after a 4% drop in 2013
• Branches operated by the UK’s retail banks shrunk by +25% in the last 20 years
• Only 16% of customers don’t use online or mobile banking*
• 39% of SMEs use online at least once a day, 69% at least once a week and 79% at least
once a month. Only 7% never use
• 69% currently use the internet to purchase financial products ***
• 6% via a mobile device.
• Nearly 90% of Tesco Bank’s sales currently online
*YouGov polling carried out for the BBA
**Accenture Survey
*** PwC survey of 3,000 banking customers in 9developed and emerging markets
Banking habits are changing rapidly
13. Joint ventures
• JV with Monitise, "investing in, building and scaling fintech businesses with
the potential to redefine and support financial services globally."
• Access to Monitise's new cloud-based platform connecting banks to digital
innovation for their customers
• Opportunity to partner with Santander
• Santander set up $100 million fund last year to invest in fintech startups too
18. Homepage trends
• Homepage content is focusing on customer’s
needs/tasks rather than actual products
• Carousels and banners are being replaced by
images aimed at engaging customers on an
emotional level
• The primary navigation tends to show fewer links,
to clearly displaying the products range
• ‘Mobile first’ approach and responsive websites
are a given
• Homepages are de-cluttered, making space for
highly relevant tasks and content
• Innovation – getting customers involved in the
digital process through crowdsourcing and
feedback
• Seamless journeys and a strong brand identity link
up online and offline experience
23. The UK investment management industry is at a
turning point. Traditional active managers have
already had to adapt to institutional changes, but
now face a confluence of retail trends”
– Deloitte, Seismic shifts in investment management
24. Your industry is being disrupted
Individual
Responsibility
Concern of
high costs and
low returns
Increasing
requirement for
international
products
“Retailisation”
Asset
Managers
going direct
New kinds of
intermediaries
Disruptive
wealth creation
models
Technology
25. The trend to go direct at volume is growing
New entrants Your peers
“Nutmeg targets
100k users by Q2
2015”
The group raised £19m
from investors
including Schroders
“Investec to
launch a rival
to Nutmeg”
Wealth manager is
setting up a
discretionary
investment
platform later this
year.
Wednesday 06 May 2015
“Barclays plans
D2C offering
for 2015”
Monday 07 July 2014
“Hargreaves
to launch D2C
discretionary
service to plug
advice gap”
Wednesday 03 September
2014
26. New investment models
Q2 2015:
eToro raising an additional $12million
The total investment volume raised among the investors amounted to $39 million.
Funding circle fund £623,610,260 worth of loans so far
28. How are brands meeting needs?
Always on
• Real-time
performance
• Responsive and
adaptive
• Specific touch
points for specific
tasks
Accessible advice
• ‘Retail’ style
thought
leadership hubs
• Online access to
professionals
• Educational tools
Peer investing
• Find and follow
investors
• Transparent
performance
• Peer comments,
advice and
sharable info
D2C platforms
• Audience specific
portals
• Digital self-service
• Needs based
navigation
• Digital
transactional
portals
Data informed
investment
• Data informed
client acquisition
• Personalisation
• Content
syndication
• Intermediary tools
29. Closing the ‘advice gap’
“A 'fundamental step-change' is required in order to make financial
advice accessible to those with portfolios below £100,000”
“For the average person in the UK accessing advice is very difficult
and they are left with two choices, one is to do nothing, which I would
advocate is not a great idea, or move to DIY investing solutions.”
– Chris Williams, founder, Wealth Horizon
Accessible advice
30. Digitising investment selection
and management
The move provides increased accessibility and
transparency, but reduces the opportunity for
AMs to effectively cross and up-sell their services
• Platforms reached record highs in the fourth
quarter of 2014 as upcoming pension freedoms
and demand for income boosted inflows
D2C platforms
31. Advisers using tablets as
productivity tools
“Clients can access our comprehensive range of
tools and economic research, as well as analysis
across all asset classes, including equities,
foreign exchange, fixed income, emerging
markets, and futures and options.
On-the-Go brings intermediaries
all our fund information, market
insights and videos.”
32. Which audience should we be focusing on in the digital space?
Artemis mainly focuses on its individuals audience with its
website.
33. Which audience should we be focusing on in the digital space?
BlackRock’s digital presence focuses more
on intermediaries and institutional
audiences. Institutional content is
particularly strong with specialist events for
pension funds with online registration.
There are video viewpoints from subject
matter experts on themes such as
sustainable investing and Beta strategies.
34. Which audience should we be focusing on in the digital space?
M&G iView and Learning Matters
focuses on intermediaries and
specifically lower tier IFAs. These are
starved of face to face contact and
need help running their businesses.
36. Guest writers
JP Morgan provides advice within its
insights section from notable financial
advice columnists, such as here where
Ian Cowie from the Sunday Times
talks about the structural advantages
of income trusts.
37. Owned digital magazines
• Insight pieces are finely segmented
• Different interest areas reflect make up of
major FS online content providers like
Morningstar
• Overviews, funds, viewpoints, retirement
41. Macro trends in insurance
Consultative
approach
Risk increasing
due to global
change
Technology
Brokers
42. 1
• Lack of trust in insurers
• Apathy and lack of interest
• Lack of understanding of what you
get for their money
How can digital change
perceptions of insurance?
Challenges facing your industry
43. 2
• Digital experiences primarily look
at price and purchase incentives
• This reinforces the perception that
insurance is a price-driven
commodity
• But what about improving the
customer experience?
Buying insurance is
decided on price, isn’t it?
Challenges facing your industry
44. 3
• Great customer
experience/advice
• Great UX – e.g. easy to
fulfil online
How can you buck the
disintermediation trend?
Challenges facing your industry
45. Insurance brokers must respond to these challenges
Insight led
experiences
Contextual
expertise
Fast speed of
response
Facilitate risk
through digital
46. From our review of the market the direction to market leading is clear:
Tactics
• More retail approach to IA and
customer journeys
• Visual merchandising: the
placement of CTAs/products on
customer journeys that are
organised by need
• Personalisation and visitor
self-selection
• Shorter, features and benefits
led content
• Mobile-first design
• More helpful and supportive
of customers
Success measures
• Increase in applications and
completions
• Increase in proportion of
digital interactions
• More return visitors browsing
more services for longer
• More recommendations
• Increase in products held by
each customer
Strategic approach
• Differentiated experience
from your peers
• Customer not inwardly
focused
• Simpler to consume (across
purchase/renewal, advice
and inspiration journeys)
• Ability to measure, test and
learn
Achievedby
Inorderto
A game-changing digital strategy
47. 1
• Power shifting to standardised risk
• New business opportunities in
emerging risks e.g. nanotechnology
• Niche market opportunities now
accessible through digital, new
sectors and geographies
Customer revolution
How are brokers responding to this?
48. 2
• Investing in digital for competitive
advantage
• Dealing with the ‘Black Swan’
problem of emerging risks,
particularly technological
• Managing and tracking
risk change
Demands for profitability
How are brokers responding to this?
49. 3
• New markets, new products
• Technology and analytics to create
insights, data led decision
Information
How are brokers responding to this?
50. What do risk facilitation leaders look like?
Needs-based approach
Using digital to support
both cost efficiency and a
more consultative approach,
simultaneously
Content leaders
Expand information
gathering to better
anticipate risk, and through
content pass this expertise
on to the client
Data experts
Improve their ability to
collect, integrate, analyse
and communicate data into
actionable insights
51. What could this mean for consumer needs?
Ecotricity use customer data to
promote the use of green
energy
Hive combines gas-use tracking
hardware and cloud-based
account management to give
more control over home heating
MyVirgin media uses customer
analysis to recommend products,
whose delivery can be tracked
from within the platform
54. This model is being rolled out
to business lending • Everline allows small and medium
sized businesses to borrow up to
£120,000 for up to 24 months
• Up to date business data and
innovative technology supports
responsible, real time, automated
risk decisions
• 10 minute application process.
Funds in 5 minutes
• Over 6,000 business loans and
lending +£60m to small businesses
55. Amazon lending – business
lending for resellers • The interest rate for all sellers is
5.9%, with a 1% arrangement fee.
Less than funding circle
• Borrowers must pay Amazon back
within four to six months
• Apply from within your Amazon
merchant account
• Buyer ratings and performance
count used as part of acceptance
criteria
• Money within five business days
• Already in US and now UK and
China
58. Platform Black: a new working
capital model “Pay-as-you-go working capital”
innovates the traditional invoice
factoring model by allowing clients
to auction outstanding payments to
institutions and private investors.
• Access to a much larger pool of
potential buyers
• Using digital to deliver services at
very low costs
• Cash into the client’s account
within ten days of the auction
closing
60. Know your audiences
What you want
to communicate
What your
audience is
interested in
Successful content
The content sweet-spot is about meeting the goals of your business
and the needs of your customers
61. Case study: ING.world
• Story-led approach from a digital
quarterly magazine
• Gives analysis and insight on the
world of business
and finance
• Interviews, articles, customer
stories and opinion pieces - each
edition explores a single theme
from a variety of angles
• Release coincides with ING's
results days
• 35,000 unique visitors per issue
• Won a Digital Communication
award for being
Europe’s best branded web
magazine
62. Case study:
The Financialist • Credit Suisse thinking relevant to
the lives and conversations of a
sophisticated UHNW audience
• Global trends and the art of living,
future-oriented
• Informed but offbeat take on
things. Not the conventional
wisdom
• Longer format articles and daily
spark blog
• Articles organised by interest
• Promoted through Twitter and
LinkedIn
• 70-100 likes for some articles and
many shares
64. Move from reference resource to ‘browsable’ content
Reference resource ‘Browsable’ content Tactic for ‘browsable’
Feels like… A journal A magazine
Pull quotes, strong imagery,
journalistic tone
Publishing frequency Quarterly New content weekly or more Editorial calendar
User mindset
Researching specific topics –
search and filter vital
‘Flicking through’ for any
interesting articles
Promote related content
Shelf life Longer Shorter
Publish short pieces
frequently
Length Long form, in depth Snackable’
Vairety of formats – articles,
blogs, videos, infographics
Looking for…
Facts, figures, date and
examples
Insight, comment, latest
trends
Tag and categorise by theme/
trend
Importance Source credibility vital Author credibility important
Showcase author knowledge
and expertise
65. Give users valuable, online-only content
• This will increase interactions
• Consider online versions of
annual reports – they go above
and beyond the usefulness
of the hard copy documents by
giving video content/interactive
charts etc.
TUI Travel plc online Annual Report
66. Keep long form content, but add a shorter version
• Traditional FS content is very
long form and feels like a report
• Sites need more ‘browsable’
content too, so that the needs of
all audience types are met
Example: JSTOR Daily
• Short articles inspired by the
journal findings
• Each article contains links to the
to the relevant journals
• JSTOR daily receives 150,000
page views a month
JSTOR
67. Make your content
work online
Web-content should be:
• Concise – people don’t ‘read’
online, they scan
• ‘Chunked’ using bullets and
subheadings
• Simple sentence structure
and clear language
• Linked to and from – unlike print
• Findable – site structure should be
intuitive
• Accessible – PDFs should be
avoided where possible
Clear ‘share’ button
Subheads add structure
and make scanning
easier
Graphs visually
illustrate data
Links allow users to
find out more
Blog post from econsultancy
68. ‘Heroise’ authors
Thought leadership content relies
on author credibility. Use bio pages
to prove author expertise, raise
their profiles, and enable users to
see all articles they have written:
• Image & Bio
• Twitter handles & LinkedIn info
• Links to all author articles
JP Morgan
69. Create a community
Simple ways to drive interaction
include:
• Comment and feedback
functionalities
• Ability for people to get in touch
with authors (LinkedIn)
Economist
71. Help users discover content that is of value to them
• Through easy-to-navigate search
• Through curation and recommendation
• By helping users stay on top of latest trends and thinking
• By helping with a paper or presentation
• By supporting decision-making
• By making the user part of a community of thinkers
• By making it relevant
• By introducing personalised content
• Through tailored experiences
72. Tagging
• ‘Reference resource’ users need to be able to find content that they’re looking for quickly
• Browsing users need to be signposted to related content that they may find interesting
Clickable, visible
tags aggregate
content on a theme
Tags also power
related content
The Guardian article page
73. Introduce searching and filtering
• Users looking for content on a specific topic will search
• A good search tool will enable them to refine the results based on content type, publication date etc.
Clickable, visible tags
aggregate content
on a theme
Econsultancy search results page
74. Give users a clear next step
Online content should always prompt users into action – this could be reading another
article, getting touch, or signing up for an event
Prompting action
Prompting action
Deloitte
75. Encourage promoting and sharing
• Readership will grow organically
if content
is useful and sharing is made
easy
• Professional audiences do share
– especially on Twitter and
LinkedIn
• Promote articles across your own
social media
accounts too, using relevant
hashtags
Rbs.com – corporate content, often shared
76. Show users content that is relevant to them
• Basic personalisation – uses
tagging to surface
content of a similar type (you
may also like…),
or uses preferences that users
have previously
given in a login area
• Advanced personalisation – rules
based personalisation displays
relevant content based on
previous browsing behaviour,
search terms
Econsultancy – recommended content
77. Proactively alert readers to new content
• Allow users to register to receive
alerts for new content on topics
that interest them most
• Tag content as you upload it, and
these emails will be
automatically generated
• Measuring click-throughs will
also give insight into which
content is working, and which
isn’t
Henderson Asset Managers: Preference centre
78. ’Drip feed’ content to keep visitors coming back
Journal content
released quarterly/
monthly/weekly
Continuous release of
additional shorter pieces in a
variety of formats: blogs,
interviews, videos, lists etc.
Journal content
released quarterly/
monthly/weekly
Continuous release of
additional shorter pieces in a
variety of formats: blogs,
interviews, videos, lists etc.
Journal content
released quarterly/
monthly/weekly
79. Test and learn to create better content over time
Measure
impact
Learn and
adapt
Publish
• What worked?
• What didn’t?
• A/B test
• Experiment with
content formats
• Number of views
• Dwell time
• Bounce rate
• Shares
Consider best format
for message + audience
You need to know what users like,
and which articles are popular
80. Michael Walker, Senior Business Development Manager, ORM
michael.walker@ormlondon.com
ormlondon.com
@ormlondon
Thank you