5 PRINCIPLES FOR MOBILITY
IN FINANCIAL SERVICES DIGITAL
ECOSYSTEMS
A decade-long alliance
2
Return on Intelligence THINK Interactive
+
Services firm solely focused on
Core Systems Transforma...
We know mobile.
mobile applications
200+
SAP mobile projects
20+
We know mobile.
iOS Android Windows Blackberry
Hybrid
& Web
135 26 15 14 20
SAP mobile projects
200+
20+
MOBILITY MEANS...
DEVICES
PEOPLE
INFORMATION
PROCESSES
BEHAVIOR
MOBILITY MEANS...
DEVICES
PEOPLE
INFORMATION
PROCESSES
BEHAVIOR
It goes far beyond
devices...
People are more mobile, livi...
PEOPLE ACCESS THEIR SMARTPHONE
AROUND 150 TIMES PER DAY. YES REALLY.
Tomi Aronen Almanac 2013 (Also cited in Mary Meeker’s...
MOBILE WEB AND APP USAGE HAS CREATED
NEW DAY-PARTS FOR UTILITY AND MARKETING.
Comscore 2012
Morning Midday Evening
NEW BEHAVIORS AND ATTITUDES AS PEOPLE
BUY. IN 2000, 70% OF US CONSUMER
TRANSACTIONS WERE BY CASH AND CHECK.
BY 2010, IT WA...
MOBILE DEVICES ARE THE STARTING PLACE
FOR MANAGING FINANCES 66% OF THE TIME
(59% PHONE, 7% TABLET).
59%
7% 34%
Google 2012...
IN WEALTH MANAGEMENT, 85% OF CLIENTS
ARE WILLING TO USE TECHNOLOGY-MEDIATED
TOOLS. ONLY 43% OF ADVISORS ARE.
Ernst & Young...
THE BIGGEST THREAT THAT MOBILE POSES TO
FINANCIAL SERVICES BUSINESSES: DISRUPTIVE
ENTRANTS & FLANKING COMPETITORS
18%
18%
...
MOBILITY ADDRESSES CHALLENGES INCLUDING
SELF-SERVICE, RETENTION, AND IMPROVED
BROKER PRODUCTIVITY
UBM TechWeb Report on In...
PRINCIPLES TO
LEVERAGE MOBILITY
v
Principle #1:
Wrap the business around the
technology around the customer.
Devices
The BusinessThe economy
Customer
Touc...
Principle #2:
Map the entire digital ecosystem
via ‘Customer Journey Maps’
GE: CONNECT STAGE: CONSIDER STAGE: CONVERT STAG...
Useful
BRANDED UTILITY
DIGITAL PRODUCTS
& SERVICES
ADVERTISING
EyeCatching
Principle #3:
Apply a branded utility framework...
Useful
BRANDED UTILITY
DIGITAL PRODUCTS
& SERVICES
ADVERTISING
EyeCatching
Principle #3:
Apply a branded utility framework...
Principle #4:
Mobile stands on its own, but also
links online and offline.
WEB, APPSIVR & CSRKIOSKS MOBILE APPSCRM
Not just...
TV
PRINT OUTDOOR
DIGITAL
WEB, APPS
IVR & CSR KIOSKS
MOBILE APPS
CRM
Principle #4:
Mobile stands on its own, but also
links...
Principle #5:
Drive FS process transformation from
the device closest to the process.
PROVIDER
PROVIDER
2012
2014+
Summing up the opportunities:
The FS customer journey is in flux. Customers are
exploring new ways of accomplishing FS task...
A digital innovations and experience design company
THINK Interactive is a digitally focused agency of thinkers, inventors...
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5 Principles shaping Digital Mobility in Financial Service Ecosystem Planning

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This presentation is an exceprt from a talk we gave at the SAP Forum on Financial Services (in NYC) in September 2013. THINK co-presented with Return on Intelligence, a consulting group focused, as we are, on core system transformation. First, we show insights from the rise of mobility of people, devices, information, and behaviors. Then we present 5 principles shaping mobility: user-centered design and wrapping the business business process around the customer, delivering on the full customer journey via service design mapping, using branded utilities in Financial Services, and finally channel planning and process transformation.

Published in: Technology, Business

5 Principles shaping Digital Mobility in Financial Service Ecosystem Planning

  1. 1. 5 PRINCIPLES FOR MOBILITY IN FINANCIAL SERVICES DIGITAL ECOSYSTEMS
  2. 2. A decade-long alliance 2 Return on Intelligence THINK Interactive + Services firm solely focused on Core Systems Transformations  Deliver critical business & technology change within the context of today's disruptive forces. We call the trend I-SMAC: Internet of Everything, Social Technologies, Mobility, Analytics & the Cloud.
  3. 3. We know mobile. mobile applications 200+ SAP mobile projects 20+
  4. 4. We know mobile. iOS Android Windows Blackberry Hybrid & Web 135 26 15 14 20 SAP mobile projects 200+ 20+
  5. 5. MOBILITY MEANS... DEVICES PEOPLE INFORMATION PROCESSES BEHAVIOR
  6. 6. MOBILITY MEANS... DEVICES PEOPLE INFORMATION PROCESSES BEHAVIOR It goes far beyond devices... People are more mobile, living in more places, and doing work everywhere Processes are mobilized and move information & work to the ‘edges’ Transforming behaviors during work. And play.
  7. 7. PEOPLE ACCESS THEIR SMARTPHONE AROUND 150 TIMES PER DAY. YES REALLY. Tomi Aronen Almanac 2013 (Also cited in Mary Meeker’s KPCB 2013 deck)
  8. 8. MOBILE WEB AND APP USAGE HAS CREATED NEW DAY-PARTS FOR UTILITY AND MARKETING. Comscore 2012 Morning Midday Evening
  9. 9. NEW BEHAVIORS AND ATTITUDES AS PEOPLE BUY. IN 2000, 70% OF US CONSUMER TRANSACTIONS WERE BY CASH AND CHECK. BY 2010, IT WAS ONLY 43%. 2000 2010 To an Analog Banker in a Digital World Booz&Co 2013
  10. 10. MOBILE DEVICES ARE THE STARTING PLACE FOR MANAGING FINANCES 66% OF THE TIME (59% PHONE, 7% TABLET). 59% 7% 34% Google 2012 56% 29% 7% 17% 3% 38%
  11. 11. IN WEALTH MANAGEMENT, 85% OF CLIENTS ARE WILLING TO USE TECHNOLOGY-MEDIATED TOOLS. ONLY 43% OF ADVISORS ARE. Ernst & Young 2012
  12. 12. THE BIGGEST THREAT THAT MOBILE POSES TO FINANCIAL SERVICES BUSINESSES: DISRUPTIVE ENTRANTS & FLANKING COMPETITORS 18% 18% 23% 41% 41% New and disruptive entrants 23% Existing competitors 18% Security vulnerabilities 18% Other 41% From DMI ‘The Future of Financial Services in a Mobile World’ 2013 23%
  13. 13. MOBILITY ADDRESSES CHALLENGES INCLUDING SELF-SERVICE, RETENTION, AND IMPROVED BROKER PRODUCTIVITY UBM TechWeb Report on Insurance IT 2011 31% 19% 16% 14% 6% 6% 3% 3% Increase customer acquisition, new business sales Increase market share Improve retention rates Enhance wallet share/cross-sell & up-sell Improve customer data – single view of the customer Improved customer service Improved agent/broker services Agent/broker productivity
  14. 14. PRINCIPLES TO LEVERAGE MOBILITY
  15. 15. v Principle #1: Wrap the business around the technology around the customer. Devices The BusinessThe economy Customer Touchpoints
  16. 16. Principle #2: Map the entire digital ecosystem via ‘Customer Journey Maps’ GE: CONNECT STAGE: CONSIDER STAGE: CONVERT STAGE: RELATIONSHIP TRIGGER TRIGGERTRIGGER BUSINESS SYSTEMS Devices, Platforms & Products, Analytics 3 1 2 4 4 6 4 5
  17. 17. Useful BRANDED UTILITY DIGITAL PRODUCTS & SERVICES ADVERTISING EyeCatching Principle #3: Apply a branded utility framework to balance emotion and function.
  18. 18. Useful BRANDED UTILITY DIGITAL PRODUCTS & SERVICES ADVERTISING EyeCatching Principle #3: Apply a branded utility framework to balance emotion and function. Deliver value and usefulness in addition to messaging Wrap the useful service in branded and differentiable language and experiences
  19. 19. Principle #4: Mobile stands on its own, but also links online and offline. WEB, APPSIVR & CSRKIOSKS MOBILE APPSCRM Not just a channel...
  20. 20. TV PRINT OUTDOOR DIGITAL WEB, APPS IVR & CSR KIOSKS MOBILE APPS CRM Principle #4: Mobile stands on its own, but also links online and offline.
  21. 21. Principle #5: Drive FS process transformation from the device closest to the process. PROVIDER PROVIDER 2012 2014+
  22. 22. Summing up the opportunities: The FS customer journey is in flux. Customers are exploring new ways of accomplishing FS tasks, and exploring competing offers as well as competing value chains. Touchpoints including branches and FAs (when they are key business steps) will need to be re-thought in this world. Today’s ways of educating, selling, processing and servicing relationships may not be tomorrow’s. Crafting and transforming internal processes may be just as important as customer-facing technologies. Building elegant, usable, and consistent user experiences for employees is critical for omni-channel success.
  23. 23. A digital innovations and experience design company THINK Interactive is a digitally focused agency of thinkers, inventors and makers. For the last 20 years, we have helped brands solve fascinating, complex business and marketing problems. We help brands create and distribute digital experiences that become ever-present and indispensable in the daily lives of their customers and employees. We focus on: - Building innovative digital products, utilities and platforms - Designing beautiful, frictionless experiences across all screens - Distributing, marketing and tracking initiatives across a brand’s entire digital ecosystem Follow us: www.thinkinc.com/blog

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