Branch Banking Innovation

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Branch Banking Innovation
Branch Banking Innovation
Customer Experience and
Emerging Technologies
IBM Centre of Competence
Banking Front Office Barcelona
Despite the emphasis on alternative channels, bank customers
remain branch loyal
European Consumers Channel Preferences
2002
Currently, more than 60% of banking
customers are not interested in using
other channels than the branch channel
79%
Personal Visit
11%
In four of Europe’s leading banking
markets – France, Spain, Germany and
Italy – at least 80% of customers prefer
personal bank visits over other available
channels
Phone
This data is expected to change by 2008,
when more than 50% of the banking
population in Europe will normally access
banking services through more than one
channel.
Europe
4%
Sweden
Internet/ E-mail
Italy
UK
France
3%
Spain
Mail/ fax
Germany
0%
20%
40%
60%
80%
100%
Nevertheless, 40% of the European
banking population will continue to use
only the branch network, meaning that
branches will lose volume but not their
central role in the banking distribution
system, as branch addicted clients will
not disappear.
Source: Financial Insigjts 2005
Branch Office transformation
Business Driver
Relationship
Mgmt Center
Wealth Mgmt
Branch
Sales
Branch
Self-Service
Branch
Old Bricks
Time
An Smart Branch is a Networked Service Center that drives
Open Business Networks
“thinly staffed collaborative service centers based on open standards and
connected to internal or external service networks through integration hubs”
Reinventing Branch Banking – Forrester Study
Branch Transformation projects will change…
People
Today’s branch transformation
projects are about making
fundamental changes to the way
business is done in the bank
branch.
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Improved service
Sales culture
Productivity
Collaboration – linkage with other
channels
ƒ Skills
Processes
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Productivity
Straight-through processing
Multi-channel
Paperless
Premises
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Modern, open plan
Zoned for different activities
Retail oriented
Customized
Multiple formats
ƒ In-store,financial center, assisted
service
… not just the technology…
… but technology will support
new business capabilities
How a Bank makes its Branch smart?
By creating a single customer view
by understanding the right offer to
make and how best to deliver
advice to enhance customer’s
wallet share
By enabling technology to
make networking of
applications, processes,
systems and people
(employees & customers)
easier
By providing Branch employee with
an integrated access to all the stuff
related to its role, enhancing the tools
and elements that the employee
requires in daily business activities.
By differencing the brand
through a better ‘consumer’
experience
Customer experience is important for business growth
92%
of US executives rank
Customer Experience as
critical or very important, but only 38% do it (Forrester,
2003)
71%
85%
of senior business leaders believe Customer
Experience is the next
battleground in retaining customers and growing
of senior business leaders believe they could
increase customer loyalty
and market share by focusing their organization on integrated Customer
Experience strategies and implementation
Customer experiences are important to customers too
50%
70%
79%
of bank customers would give their bank only
two chances
to fail before considering switching
of retail banking customers indicate they have had at
least
one negative experience during the past
year
of consumers commit
to a deeper product or
service relationship with a brand after a satisfying
experience
What makes a good experience?
A good experience is a subjective interpretation. It is therefore not
possible to determine what makes a good experience for all people, but
we can identify the four elements, which help create a good
experience:
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The experience realm (physical
facilities or a special atmosphere)
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Image (adds prestige to the
experience or contributes to our
identity in other ways)
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Other customers (the communities
to which we belong contribute to
the experience)
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The service encounter (the
reception, the quality of the
service, the personnel's attitude)
Branch Office layout
ƒNew layout that matches the
branch office new
characteristics and functions
ƒSelf Service/Discovery Zone
ƒReception Zone
ƒTransactional Zone
ƒSales/Advisory Zone
Self Service/Discovery Zone
Functions
ƒChannel integration, holistic
customer experience
ƒPersonalization (More used txs, etc)
ƒCash and check deposit
ƒMarketing contents
ƒOffers/New products ads
ƒTicketing/...
ƒInternet Banking
ƒProduct simulators
ƒLocal/Remote support
ƒVirtual agent/Avatar
ƒAccesibility
Technology
ƒNew ATM generation
ƒKiosks/Pcs
ƒDigital Media
ƒDigital Telesurveillance
ƒRFID
ƒSmartcards/EMV
ƒBiometrics
ƒWeb conference
ƒProjectors/LCD/TFT displays
ƒIP telephony
Reception Zone
Functions
ƒCentral point of information
ƒCustomers identification
ƒQueue buster
ƒMigration support to new channels/
features
ƒDynamic information
ƒNew products, offers, promotions,
Local information, stock exchange, etc
Technology
ƒPDA/Tablet PC/Thinkpad
ƒRole based integrated workplace
ƒCRM
ƒIP telephony
ƒWIFI/WLAN
ƒRFID
ƒDigital Media
ƒDigital Telesurveillance
ƒCollaboration
ƒDisplays
Advisory/Sales Zone
Functions
ƒRelationship/Personalized selling
ƒSpecific customer segments
management
ƒFinancial assessment/Simulations
ƒComplex product sales
ƒNew customers acquisition
ƒMobility
ƒVirtual Branch
Technology
ƒThinkpad/Tablet PC
ƒRole based integrated workplace
ƒCRM
ƒWIFI/WLAN
ƒIP Telephony
ƒVideoconference
ƒCollaboration
Transactional Zone
Technology
Functions
ƒSingular payments/deposits
ƒChecks
ƒControl de vivencia
ƒRole based integrated workplace
ƒIntegrated devices
ƒIP Telephony
ƒBiometrics (DSV)
ƒDigital Media
ƒDigital Telesurveillance
ƒCollaboration
ƒCRM
Building the Smart Branch
EMEA CoC Showroom inBarcelona
Branch Office:
ƒPaperless branch
ƒDigital Advertisement
ƒSmart brochures
ƒDigital signature
ƒSpeech recognition
ƒVideo Conferencing
ƒContact center<-> branch interaction
(Joint calendar, intelligent call routing)
ƒDistributed data management
ƒE-Learning / Knowledge Management
ƒCollaboration tools
ƒCoin cashment / Cashless
ƒAssisted self service
Enabling infrastructure:
ƒATM integration
ƒWireless (IP telephony) / Pervasive
ƒKiosk integration
ƒ RFID
ƒSmartcards, Cardreader
Multichannel facilities:
ƒIP Telephony (XML applications, integration with CRM)
ƒInternet Banking
ƒSecurity (Identity, Single management solution)
ƒVirtual Branch
ƒVideo surveillance
ƒMobile Banking (Sales force automation)
ƒCorporate Communications
ƒContact Center / Call Center services