the soft side of numbers: improving performance in the financial services industry

The Soft side of Numbers

Presented by Erik Vermeulen.

Oracle, Nairobi, May 2011

Below is a column of numbers. They are in base 10. Add them in your head as quickly as you feel comfortable.

1000 401000 301000 20

1000 10

The correct answer is

4100

•Opened accounts with USD 4000•PO Box•Regular wire transfers from abroad•Large deposits, with small withdrawals•No regular living expenses•No monthly patterns of deposits•No savings accounts or deposit boxes•High ratio of cash withdrawals to cheques issued

•Men•26 - 35•Own a mobile phone•Student•Rent and not own a home•Muslim name•NOT HAVE LIFE INSURANCE

In 2010 Kenyan Banks lost over 2.9 Billion Shillings.

In 2009, Kenyan Insurance Companies paid out 30.6 Billion Shillings, of which 30-40% is feared to be fraudulent claims.

HOW?ID theft, EFT, Bad cheques, Loan fraud, document forgery, investment scandals.

Fraud

Integrity

Connected

My life as seen by ME

My life as seen by my BANK

Trade 1950

Research 1960

Mail 1970

Phone Calls 1980

E-mail 1994

SMS 2001

24 hours

+8 000 000 000 day

+2 000 000 sec

1950’s: Weeks

1960’s: Days

1970’s: Minutes

1980’s: Now

1990’s: 24hrs

2000’s: Instant

CRM

Service

Service = Experience - Expect

The Service Equation

CRM

The Service EquationPeople expect only two things1. That you know they are there2. That they made the right choice by coming to you to satisfy the need

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Thank You