innovation in banking – seb estonia case eerika vaikmäe-koit april 18, 2012
TRANSCRIPT
Innovation in Banking –
SEB Estonia case
Eerika Vaikmäe-Koit
April 18, 2012
2
Innovation – success factors for Estonia
• Small and accessible market
• Lack of heavy „back-log“, old systems and ways of working – no need to change customer behaviour
• Timeliness – desire of the society to change
• Open market, technology easily accessible
• Strive for simplicity
• Vision and leadership
3
• Increasing customer demands with special focus on personalisation, privacy and security
• Mistakes are especially costly – „fail fast“ solutions not an option
• Customers’ need for simplicity not in line with development of banking regulations
• Banking is not an area on top of people’s minds -more difficult to engage your customers
The main challenges of innovation in banking
23-04-21 | 4
5
Closing the delivery gap
6
Delivery cap
Source: Brain Customer-Led Growth Diagnostic questionaire;
Satmetrix Net Promoter database
7
Public pages
Private Internet bank
Mobilebank
Corporate Internet bank
2011: All SEB Estonia digital channels upgraded99% of transactions are made in digital channels
Awards in 2011:
• The Best Bank in Estonia 2011 (The Banker)
• The Best Bank in Baltic and Nordic Countries 2011 (Euromoney)
• The Best Internet Bank in Estonia 2011 (Metasite)
• Most satisfied customers among leading banks (EPSI)
• Customer Voice indicator – NPS - increasing
23-04-21 | COMPARTMENTS CHANNELS AND RELATIONSHIP MANAGEMENT 8
Getting personal doesn't mean getting physical…
Face to face branch banking, ver. 1.1”
Face to face internet banking, ver. 1.2
23-04-21 9
Total visits per month
0
50 000
100 000
150 000
200 000
250 000
300 000
01 2010 04 2010 07 2010 10 2010 01 2011 04 2011 07 2011 10 2011 01 20120
200 000
400 000
600 000
800 000
1 000 000
1 200 000
1 400 000
1 600 000
1 800 000
Internet+3% YoY
Branch-36% YoY
CC*-9% YoY
Bra
nch
, M
ob
ile,
Postb
an
k &
C
CIn
tern
et & A
TM
*Answered e-mails and calls
Postbank-4% YoY
ATM-2% YoY
Mobile
10
Anticipating the customer journey Example – Mortgage purchasing process in the Netherlands
SOURCE: Customer market research in the Netherlands (~500 people interviewed)
In the
Netherlands,
for mortgages40–85% of
customers
continue
using the
branch
throughout
the
purchasing
process
11
Design channel integration as one customer journey
Internet
Mobile
Phone
Branch
Awareness
Informatio
n
AdvisePuchace
Post sale
support
Banking innovation going forward – the winner is a step ahead of customer needs
Design seamless multichannel service journeys
Faclitate personal and meaningful meetings with your customers in all channels
Dominate the dominant distribution channel – the competition is not just between the banks
Invest into mobile channel development
Innovation is created in cooperation with the customer
12
13
Thank you