building the 10x better bank
TRANSCRIPT
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@joukpleiter & @jelmerdejong
Building the 10x better bank
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New Competitors in Banking
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New competitors in banking
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Shift in Customer Demand
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New competitors in banking
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Shift in Competitive Landscape
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New competitors in banking
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1015202530
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Who do you see as the Biggest Threat?
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New competitors in banking
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Where are you Investing?
0% 50% 100%
Digital Channels
Customer Service & Experience
New Products & Services
Physical channels distritbution
Core Systems & Processes
Increase
No Change
Decrease
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New competitors in banking
1. Start with the customer experience2. Pursue an omni-channel delivery model3. Make mobile the key growth channel4. Regain control over your digital strategy5. Digital Transformation Economics
In short: Beat the Disrupters at their own Game.
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Digital Transformation – Disrupt Yourself
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Customer Experience: The Key Ingredients
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Customer experience: the key ingredients
0 5 10 15 20 25 30
Too many silos
Shortage of quality people
Projects take too much time
High costs
Nu support from senior management
No or low customer culture
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Customer Experience Roadblocks
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Customer experience: the key ingredients
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Challenge: Too Many Silo’s
Secure Portal 1
Secure Portal 2
Mobile App 1
Mobile App 2
Intranet App 1
Extranet App 1
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Customer experience: the key ingredients
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Move to a Unified CX Layer
Customer Experience Platform
SuperiorExperience
Personal & Relevant
Fast & Frictionless
AnytimeAny place
Application Integration
CRM Integration
Process Integration
Security & Compliance
Existing Systems CRM Processes IDM
SSO
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Customer experience: the key ingredients
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A paradigm shift: Outside-in Approach
Outside-in Customer enablement
Inside-Out Web/Mobile Enablement
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Customer experience: the key ingredients
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Enabling Seamless Customer Journeys
Source:
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Customer experience: the key ingredients
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Challenge : Projects take too much Time
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Customer experience: the key ingredients
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A paradigm shift: Two Speed Architecture
Customer Oriented Functions
Back Office Functions
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Leverage Pre-build Digital Accelerators
Customer experience: the key ingredients
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Launchpad Widgets Retail | Wealth | Commercial
1
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Customer experience: the key ingredients
Culture & Process - New Digital Power Values
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Old IT Power Values New Digital Power Values
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Omni-channel and the changing channel mix
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Omni-channel and the changing channel mix
61%25%
8%6% Extremely important
Very important
Important
Somewhat important
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Seamless Omni-Channel Experiences
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Omni-channel and the changing channel mix
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Current Status of the Omni-Channel
19%
30%25%
22%
4% Expanding
Deploying
Experimenting
Exploring
Not on our radar
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Omni-channel and the changing channel mix
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From Channel Islands to Omni-Channel
Source: Forrester Wave for Omni-Channel Banking, September 2015.
“Banks will move from Channel Islands to Omni-Channel Banking. This is not about just technology, it's about the path to great customer experience (CX) across all channels, using the right customer touch-point at the right time.”
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Omni-channel and the changing channel mix
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Vertical monoliths vs Horizontal Layers
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Omni-channel and the changing channel mix
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Widgets: Re-Usable Business Capabilities
Omni-channel CXP
Re-Usable Widgets
P2P, Bill Pay, Transfer, ….
Payments
Messages, Notify, Alert, Chat, …
Communication
Core Banking, Cards, Accounts, …
BANKING SYSTEMS Portfolio, Coupons,
Offers, eCommerce, ...
3RD PARTY APPS
Spend Analysis, Goals, Cash flow, …
PFM
Marketing, Campaigns, FAQ, Support, ...
Content
Origination, Self-Service, etc.
Origination
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Omni-channel and the changing channel mix
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Omni-Channel Orchestration Layer
Core SystemsCore Systems
DigitalBankingServices
• Banking: Transactions, Cleansing, Categorize, Enrich, Savings, Budgets, Payments, Accounts, Entitlements, …
• Universal: Alerts, Notifications, Message Center, Auditing, Contacts, …
• Re-Use & Rationalize Existing
Systems
Widget Widget Widget Widget
API API API
Digital Banking Services
CXP Integration Services
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Omni-channel and the changing channel mix
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Four Scenarios of the Future Bank
After Alessandro Hatami, published on Banknxt.
Scenario 1Better Bank
Scenario 2New Bank
Scenario 3Distributed Bank
Scenario 4Omni-Channel Bank
Built-for-Digital Banking Platform
DigitalBankingInterface
BankingServices
Aggregator
FullOmni-Channel
BankingInterface
Fintech Providers
Fintech Providers
Fintech Providers
Legacy Banking Platform
Fintech Providers
Fintech Providers
Fintech Providers
Banking Platform
Customers
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Startups win by doing one (1) thing well
Banks win by integrating the UX using APIs.
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Omni-channel and the changing channel mix
Technology : API Gateway
Enterprise API Delivery Platform• Leverage existing systems,
processes, & relationships• Support multiple platforms from a
single infrastructure• Convert backend interfaces into
usable external APIs• Meet enterprise security,
compliance, & operational requirements
Partners API Owners Applications
Own APIs 3rd Party APIs
PartnerPlatform
InternalPlatform
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Omni-channel and the changing channel mix
Business : Accelerate Digital + Monetize your Assets
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Regain control in the era of digitization
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Regain control in the era of digitization
0
10
20
30
40
50
60
Physical Channels
Agents Contact Center
Online (web)
Mobile Other
30
What channel drives the most revenue?
2015
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Regain control in the era of digitization
0
10
20
30
40
50
60
Physical Channels
Agents Contact Center
Online (web)
Mobile Other
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And your expectations for 2020?
2020
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Regain control in the era of digitization
30%
25%7%7%
30%
1%Public Marketing Site
Campaign Pages
Closed Internet Banking
Mobile Apps
Social Media
Other32
What Channels can Business Manage?
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Regain control in the era of digitization
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Capitalize on your OLB / MB Traffic
15% 85%
Bookmarks Mobile
Public Site Closed Environment
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Regain control in the era of digitization
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Create, Measure and Optimize Journeys
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Regain control in the era of digitization
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Empower Business with Visual CX Editor
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Regain control in the era of digitization
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Enable Business & IT collaboration
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Digital Transformation Economics
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Digital transformation economics
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Digital Banking Economics – Channel Costs
$ 4.10
$ 0.50
$ 0.05
Source:
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Digital transformation economics
Digital Banking Economics – Channel Costs
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Digital transformation economics
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The Branch is Certainly Not Dead
Source:
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Digital transformation economics
Impact – Digital correlates with Profit Margin
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Banks need to start their journey now
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Start your journey now
Our mission is to help Financials to Create, Manage, and Optimize Omni-Channel Customer Interactions.
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Start your journey now
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Backbase = Omni-Channel Banking Leader
Forrester Market Wave for Omni-Channel Banking Solutions Jost Hopperman (September 2015)
“Backbase leads the Pack”.
ü Broad business capabilities, ü Rich customer experience, ü Very solid technology and
architecture
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Start your journey now
Digital Transformation Roadmap Digital Transformation
Not restricted to channels or technology only, needs to be a holistic transformation across back-office, staff and operations as well.
About building the right mix of “Bricks and Clicks”.
No silver bullet, it has to be unique strategy based on business drivers, customer segment, goals etc.
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Start your journey now
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Our Mission: Make you a digital leader
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Get the report
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Efma & Backbase present
Omni-channel bankingThe digital transformation roadmap
All you need to create the 10x better bank.
- 15+ executive interviews- 100+ survey respondents- 7 habits by Roberto Ferrari
See @backbase on Twitter.
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Questions?
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www.backbase.com
Thank you!@joukpleiter & @jelmerdejong