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Engagement Banking Strategy   Backbase Webinar Series January 27, 2010
What is  Engagement Banking?
Today… © 2011 SapientNitro Thanks :
© 2011 SapientNitro Customer Intimacy Scale and Efficient Operations
© 2011 SapientNitro Customer Intimacy Scale and Efficient Operations Technology
© 2011 SapientNitro Customer Intimacy Scale and Efficient Operations Engagement Banking Technologies
[object Object],[object Object],[object Object],© 2011 SapientNitro
© 2011 SapientNitro ,[object Object],[object Object],[object Object]
Engagement Banking Market Framework © 2011 SapientNitro Banking Technology Marketing Customer  Experience Business Environment Consumer Behavior EB
How are customers behaving today?
Customers want Digital ,[object Object],[object Object],[object Object],[object Object],[object Object],© 2011 SapientNitro Source: American Banker Association, Preferred banking method survey, September 2010
“ Digital” will increasingly mean “mobile” © 2011 SapientNitro Source: American Banker, Javelin Research, October 2009
© 2011 SapientNitro techny.com Image: http://www.installations.org Customers rarely set foot into a branch.
© 2011 SapientNitro Cash from the ATM…  the one thing they can’t do digitally
But only for a few more months. © 2011 SapientNitro NFC
So, what do consumers want?
Consumers want… ,[object Object],[object Object],[object Object],[object Object],© 2011 SapientNitro
The Four Pillars of Engagement Banking ,[object Object],[object Object],[object Object],[object Object],© 2011 SapientNitro
60% of checking accounts are likely to become unprofitable. The Boston Consulting Group, 2010
Profits are generated in three ways ,[object Object],[object Object],[object Object],Engagement Banking powers all three levers
What an  Engagement Bank  Looks Like
Traditional banks are organized around silos © 2011 SapientNitro Retail / Branch Call Center Alternative ATM Online Mobile Services Origination Pricing Strategy Compliance, etc. Instruments Deposits / Accounts Lending Cards Wealth, etc. Enterprise Services ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Product Customer Management ,[object Object],[object Object],[object Object],[object Object]
Engagement Banks are channel-independent ,[object Object],[object Object],© 2011 SapientNitro Business Model Services Customer Context Customer Context Branding /  Marketing Sales Onboarding Relationship Management / Servicing Transitioning Channels Retail / Branch Website Mobile ATM / Kiosk Call Center Instruments Services Enterprise Services Product
Customers are already channel-independent Image: peopleseconomics.com
The customer’s  journey  defines the experience ,[object Object],Re-evaluation Engagement Initiation Discovery
© 2011 SapientNitro Re-evaluation Engagement Initiation Discovery Triggers Marketing and Brand.  Moments of clarity and inspiration of a financial need. Investigation Pre-sales. Initial research into the benefits of a banking brand, products and services… and what the peer network says. Image: http://jonathanbaldwin.blogspot.com
Re-evaluation Engagement Initiation Discovery Trial Sales activities The customer assesses how a product or brand’s abilities meet their individual needs. Onboarding The traditional onboarding process. Purchase Decision
Re-evaluation Engagement Initiation Discovery Manage Gain clarity and control, and make transactions to implement change. Understand Make sense of what I’m doing and a plan for what to do next. View View your financial life. Assemble a personal balance sheet to develop a complete picture. Evaluate Continually evaluate how my financial solutions help with my continually changing life.
Re-evaluation Engagement Initiation Discovery Repositioning Identifying products that are better alternatives than what’s currently implemented Relationship Closure Activities to close or transfer a financial relationship, including account closure and feedback.
Engagement Banking Business Framework © 2011 SapientNitro Standard Bank  Products, Services & Functions Enterprise Services Product Instruments Services Engagement Bank Customer-centric Services & Functions Business Model Services Customer Context Branding /  Marketing Sales Onboarding Relationship Management / Servicing Transitioning Channels Retail / Branch Website Mobile ATM / Kiosk Call Center Customer Experience Framework Re-evaluation Engagement Initiation Discovery
How to Implement Engagement Banking
The Four Pillars of Engagement Banking ,[object Object],[object Object],[object Object],[object Object],© 2011 SapientNitro
© 2011 SapientNitro Applying professional-grade data visualization techniques…. Next Generation Online Banking Experience
…  can provide financial context to consumers. © 2011 SapientNitro Image: Mint.com
[object Object],Next Generation Online Banking Experience Image: Mint.com
Strong User Experience Design across every channel ,[object Object],[object Object],[object Object],© 2011 SapientNitro Most desired information readily available “ What’s my account balance?” Visualization to provide context at-a-glance. “How am I doing?” Most recent first, for fast updates…  “Did the check clear?” Strong User Experience Design…
© 2011 SapientNitro Source: IDEO …  across every channel
Multichannel Client Experience © 2011 SapientNitro Sapient Nitro  Engagement Banking Digital Whitepaper http://engagementbanking.sapient.com
Digital Customer Acquisition © 2011 SapientNitro Real-time campaign management and adjustments, based on active tracking and monitoring of consumer behaviours
Data-driven Product Development
Data Intelligence in Customer Service and Support
Digital Community Development Image Source: It’s a Wonderful Life, 1946
© 2011 SapientNitro Image Source: jasocal.org
Digital Community through Social Networking Image Source: O’Reilly
Customer Intimacy at Scale © 2011 SapientNitro
Summary
Engagement Banking Market Framework © 2011 SapientNitro Banking Technology Marketing Customer  Experience Business Environment Consumer Behavior EB
Engagement Banking Business Framework © 2011 SapientNitro Standard Bank  Products, Services & Functions Enterprise Services Product Instruments Services Engagement Bank Customer-centric Services & Functions Business Model Services Customer Context Branding /  Marketing Sales Onboarding Relationship Management / Servicing Transitioning Channels Retail / Branch Website Mobile ATM / Kiosk Call Center Customer Experience Framework Re-evaluation Engagement Initiation Discovery
The Four Pillars of Engagement Banking ,[object Object],[object Object],[object Object],[object Object],© 2011 SapientNitro
About SapientNitro
2009  REVENUE OF US$639M END-TO-END SERVICE OFFERING, WITH COLLABORATIVE AND AGILE APPROACH FOUNDED IN  1990 , PUBLICLY TRADED SINCE  1996  (NASDAQ: SAPE)  HEADQUARTERED IN BOSTON WITH 8500 EMPLOYEES, OVER 5000 IN INDIA 35 OFFICES WORLDWIDE UNIQUE LARGEST INDEPENDENT INTERACTIVE AGENCY IN THE WORLD, with INDUSTRY LEADING STRATEGY & TECHNOLOGY CONULTING
© 2011 SapientNitro INSIGHTS Expertise in research, analytics, brand & user experience, wealth  management, and global markets IDEAS Ideas born of insights.  Our creative department consists of designers, writers, IAs, strategists, account managers and technologists REALIZATION People that can execute on ideas from a customer experience, operational and technical perspective supported by world class program management and collaborative approach S We are Thank You Michael Degnan Engagement Banking Lead Sapient Nitro  Financial Services Center of Excellence mdegnan@sapient.com | @mdegnan http://engagementbanking.sapient.com #engagementbanking

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Sapient Backbase Engagement Banking Webinar Jan 27, 2011

  • 1. Engagement Banking Strategy Backbase Webinar Series January 27, 2010
  • 2. What is Engagement Banking?
  • 3. Today… © 2011 SapientNitro Thanks :
  • 4. © 2011 SapientNitro Customer Intimacy Scale and Efficient Operations
  • 5. © 2011 SapientNitro Customer Intimacy Scale and Efficient Operations Technology
  • 6. © 2011 SapientNitro Customer Intimacy Scale and Efficient Operations Engagement Banking Technologies
  • 7.
  • 8.
  • 9. Engagement Banking Market Framework © 2011 SapientNitro Banking Technology Marketing Customer Experience Business Environment Consumer Behavior EB
  • 10. How are customers behaving today?
  • 11.
  • 12. “ Digital” will increasingly mean “mobile” © 2011 SapientNitro Source: American Banker, Javelin Research, October 2009
  • 13. © 2011 SapientNitro techny.com Image: http://www.installations.org Customers rarely set foot into a branch.
  • 14. © 2011 SapientNitro Cash from the ATM… the one thing they can’t do digitally
  • 15. But only for a few more months. © 2011 SapientNitro NFC
  • 16. So, what do consumers want?
  • 17.
  • 18.
  • 19. 60% of checking accounts are likely to become unprofitable. The Boston Consulting Group, 2010
  • 20.
  • 21. What an Engagement Bank Looks Like
  • 22.
  • 23.
  • 24. Customers are already channel-independent Image: peopleseconomics.com
  • 25.
  • 26. © 2011 SapientNitro Re-evaluation Engagement Initiation Discovery Triggers Marketing and Brand. Moments of clarity and inspiration of a financial need. Investigation Pre-sales. Initial research into the benefits of a banking brand, products and services… and what the peer network says. Image: http://jonathanbaldwin.blogspot.com
  • 27. Re-evaluation Engagement Initiation Discovery Trial Sales activities The customer assesses how a product or brand’s abilities meet their individual needs. Onboarding The traditional onboarding process. Purchase Decision
  • 28. Re-evaluation Engagement Initiation Discovery Manage Gain clarity and control, and make transactions to implement change. Understand Make sense of what I’m doing and a plan for what to do next. View View your financial life. Assemble a personal balance sheet to develop a complete picture. Evaluate Continually evaluate how my financial solutions help with my continually changing life.
  • 29. Re-evaluation Engagement Initiation Discovery Repositioning Identifying products that are better alternatives than what’s currently implemented Relationship Closure Activities to close or transfer a financial relationship, including account closure and feedback.
  • 30. Engagement Banking Business Framework © 2011 SapientNitro Standard Bank Products, Services & Functions Enterprise Services Product Instruments Services Engagement Bank Customer-centric Services & Functions Business Model Services Customer Context Branding / Marketing Sales Onboarding Relationship Management / Servicing Transitioning Channels Retail / Branch Website Mobile ATM / Kiosk Call Center Customer Experience Framework Re-evaluation Engagement Initiation Discovery
  • 31. How to Implement Engagement Banking
  • 32.
  • 33. © 2011 SapientNitro Applying professional-grade data visualization techniques…. Next Generation Online Banking Experience
  • 34. … can provide financial context to consumers. © 2011 SapientNitro Image: Mint.com
  • 35.
  • 36.
  • 37. © 2011 SapientNitro Source: IDEO … across every channel
  • 38. Multichannel Client Experience © 2011 SapientNitro Sapient Nitro Engagement Banking Digital Whitepaper http://engagementbanking.sapient.com
  • 39. Digital Customer Acquisition © 2011 SapientNitro Real-time campaign management and adjustments, based on active tracking and monitoring of consumer behaviours
  • 41. Data Intelligence in Customer Service and Support
  • 42. Digital Community Development Image Source: It’s a Wonderful Life, 1946
  • 43. © 2011 SapientNitro Image Source: jasocal.org
  • 44. Digital Community through Social Networking Image Source: O’Reilly
  • 45. Customer Intimacy at Scale © 2011 SapientNitro
  • 47. Engagement Banking Market Framework © 2011 SapientNitro Banking Technology Marketing Customer Experience Business Environment Consumer Behavior EB
  • 48. Engagement Banking Business Framework © 2011 SapientNitro Standard Bank Products, Services & Functions Enterprise Services Product Instruments Services Engagement Bank Customer-centric Services & Functions Business Model Services Customer Context Branding / Marketing Sales Onboarding Relationship Management / Servicing Transitioning Channels Retail / Branch Website Mobile ATM / Kiosk Call Center Customer Experience Framework Re-evaluation Engagement Initiation Discovery
  • 49.
  • 51. 2009 REVENUE OF US$639M END-TO-END SERVICE OFFERING, WITH COLLABORATIVE AND AGILE APPROACH FOUNDED IN 1990 , PUBLICLY TRADED SINCE 1996 (NASDAQ: SAPE) HEADQUARTERED IN BOSTON WITH 8500 EMPLOYEES, OVER 5000 IN INDIA 35 OFFICES WORLDWIDE UNIQUE LARGEST INDEPENDENT INTERACTIVE AGENCY IN THE WORLD, with INDUSTRY LEADING STRATEGY & TECHNOLOGY CONULTING
  • 52. © 2011 SapientNitro INSIGHTS Expertise in research, analytics, brand & user experience, wealth management, and global markets IDEAS Ideas born of insights. Our creative department consists of designers, writers, IAs, strategists, account managers and technologists REALIZATION People that can execute on ideas from a customer experience, operational and technical perspective supported by world class program management and collaborative approach S We are Thank You Michael Degnan Engagement Banking Lead Sapient Nitro Financial Services Center of Excellence mdegnan@sapient.com | @mdegnan http://engagementbanking.sapient.com #engagementbanking

Editor's Notes

  1. And now, a short word about who we are…