Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels

Experience-Led Digital Banking
Getting Customers to Buy with Low
Cost Digital Channels
March 26, 2015

2The information contained in this presentation is proprietary.
Copyright ©2015 Capgemini. All rights reserved.
Agenda
Topic
Introduction
Today’s Banking-Customer disconnect
Redefining and making experiences come to life
- Creating digital interactions to capture right and desired
customer behaviors
Delivering Experience-led banking
- Helping Banks Target Sell
Q&A

Poll
What percentage of your customers are applying for and buying products
via digital channels including the internet, mobile, phone and social media :
• Less than 30%
• 30% - 50%
• 50%- 75%
• More than 75%

Today’s Banking-Customer disconnect
Source: Capgemini Financial Service Analysis, 2015; 2015 Retail Banking Voice of the Customer Survey, Capgemini, 2015 Retail Banking Executive Interview Survey, Capgemini
Phone
Nearly 70%
of bank executives would
prefer their customers apply
for products via the internet,
mobile or phone
Internet Mobile
What Bankers Want……
60% of customers are
applying for and buying
products in branches or
after meeting face to face
What Customers are Doing…
Branch

Failure to optimize service via digital or phone
channels has significant implications
 Impact on customer flight risk factors
i.e. making referrals, purchasing additional products,
willingness to switch
 Securing the next up and coming
customer base
 Gen Y channels of choice are mobile and internet
 Gen Y doesn’t visit branches often
 Non-Bank players are already stealing
market share
Agility, innovation and attractive digital value
propositions via the channels your customers
prefer

What makes customers resist buying from low
cost, digital channels?
 Absence of personalization
“You don’t know me, my preferences,
my history, or my choices”
 Inefficient self-service systems
“I just want to do it myself. Why is this so
complicated and repetitive?”
 Awkward shifts between assisted
and non-assisted channels
“It’s so obvious your systems aren’t connected.
Your agents don’t even know what prices are
available online.”

Creating digital interactions that capture the right
and desired customer behaviors
Examples of Customer Digital
Interactions
Corresponding Preferred Behaviors
Customer seeks
product information
from bank’s website
via tablet or mobile
Customer discovers new
bank offer and wants to
learn more
via mobile application
Customer checks bank
balances and
transactions
via mobile application

Delivering Experience-led banking
Give the customers what they want
Personalized & Tailored
to Segments of 1
First Contact
Resolution
Omni-Channel
 Any time - Any place
 Any channel- Any device
 Seamless bounce between
channels to complete the journey
 Tailored interaction based on customer knowledge
 Connect to someone who knows and understands
what customer wants
 Products and services customized to segments of 1
 Meaningful guidance to select the right product
 Love to help themselves –
intelligent self-service
 Connect this instant, no waiting
 Connect to the right person and
be understood the first time
Experience-led
Banking

Delivering Experience-led Banking
Helping Banks Target Sell with First Contact Resolution

Connect your customer to the Right expert
first time
Level 1
Self-service
Level 2
High-touch
Use next best action & next best agent
 Use automated contact distribution engine
(Skills, priority, remembered agent, BPM)
 Recognize your customer
(Caller ID, biometrics, web form, mobile data, CRM)
 Provide agent with 360˚ view right away
(CRM)
Qualify & route customer as fast as you can
 Natural language understanding
 Speech recognition, Speech analytics
 Mobile visual IVR
 Virtual agent chat
 Web community, FAQs

Leading Bank
First contact resolution from any touch point with 98% accuracy
20%
38%
41%
1%
overflow
Want to talk to my
account manager
Car
Insurance
Block my credit
card!
Want to check
my balance Stock
information
Real estate
investment
Hello.
Welcome to Bank4All.
How can I help you ?
Before:
X High call volumes for
assisted channels
X High abandoned
calls rate
X Multiple toll-free
numbers, hotlines,
branch numbers
X Lengthy IVR menus
Efficient & modern voice portal
 Single access number for all services & branches
 Conforming branding
 Improved call qualification and superior customer experience
 Remembered customer journey
 Analytics
Before After

Large Multinational Bank
Self-service where it makes sense & efficient cloud routing
Before:
X Long waiting time for
low value service
X Multiple toll-free
numbers, hotlines,
branch numbers
X Poor transfer quality
(blind, no customer
information) due to
lack of integration
with different
systems
 Lower call volume: agents focus on high value interactions
 Best service: customers prefer self-service for:
Authentication (account#), account balance, branch locator &
credit card activation
 Simpler – 1 single entry point of contact
 Call qualification & allocation to different destinations
Before After
3Mminutes per year
Self-service IVR
New automated services with
Speech Recognition & DTMF
600k
Security Access Codes,
Balance thresholds alerts
SMS
per year
Self-service
400branches
10,000employees
(users)
Cloud routing

Helping Banking Target Sell by
Providing Elegant Connections and Transitions

WWW
SMS
Whatever the device, the preferred channel
Always the customer’s preferred channel!
 Customer’s choice, profile
 Behavior analytics, Interaction logs & data (big data)
All channels & all touch points
 Video, voice, chat, messaging, SMS, email, social media, M2M
 Web, tablets, phones, watch & other connected devices:
WebRTC, native/hybrid apps, web-responsive apps
Consistent and smooth transition between assisted and
non-assisted channels
 Universal queue, multichannel engine
 Presence & skills management
 Virtual contact center on mobile device (sales, workers on field)

Help your customers complete their journey the way
they want
I don’t understand this
transaction on my account
statement
I request chat
with virtual
assistant
I am notified I check I express concern I engage
I receive a direct
message that
the bank would
like to explain the
charges
Charges are
high and I
tweet my
annoyance
I go online to
check my
account
statement
I receive a
notification that my
credit card
statement is
available
An agent takes over to
explain the detail
I understand the charges
and I’m able to get a waiver
I tweet my
satisfaction with
the service I
received

Large National Bank & Insurance Firm
11million customers interacting on channel of their choice
Before:
X No integration of
branches with the
digital channels
X Inconsistent view of
services across
channels
X Organizational
complexity was a
roadblock to a
seamless omni-
channel experience
Integrated cloud engagement center with voice, video, chat, text, email channels
 Seamless customer journey across multiple channels
 Ability for customers to interact in channel of their choice
 Flexibility and agility to deploy a new customer service
 Global view & monitoring of the customer service
17,000 branches16+ million interactions
Before After

Helping Banks Target Sell by
Providing Personalized Experience to a Segment of One

One-to-one experience: start the conversation!
Personalized experience = know your customer = Big Data
 Actionable data from interactions records
 Speech analytics, sentiment detection
 360˚ view of the customer: integration with CRM (sales & service clouds)
Your branch advisor & investment specialists know the customer
 Make them part of the customer service!
(Cloud routing, ACD, virtual contact center, presence management, social enterprise)
 Power them with peer-to-peer communications tools
WebRTC, Instant Messaging, Secure Messaging from Mobile/Web, Co-browsing.
Web1.0 is over… so is Mobile1.0! All devices become connected
 Supplement your mobile apps with real communications capabilities
 Direct interactions with agents or advisors from the app
Appointment scheduler, e-signature, messaging, video, call with no waiting time, file upload

M-Banking with conversation
Make an appointment
Visual IVR
Private Messaging
SOS Button
Every day Banking

Conversation extends to connected devices

Seamless personalized experience beyond
technology
Let your customers start Anywhere, Anyhow.
Complete their journey as they want
Enable them to enjoy the experience beyond the barriers of technology
Have your customers carry the bank in their pocket
Simplify your Mobile apps and make them conversational
Future (now): One experience. Across all connected devices. Each has
specificities and typical usage.

Questions?
www.capgemini.com/odigoforbanks
Watch us on
Youtube
Explore how Odigo can help you
with a personalized Demo
Register here or e-mail us at
banking@capgemini.com

The information contained in this presentation is proprietary.
© 2015 Capgemini. All rights reserved.
www.capgemini.com
About Capgemini
With more than 145,000 people in 40 countries, Capgemini is one
of the world's foremost providers of consulting, technology and
outsourcing services. The Group reported 2014 global revenues
of EUR 10.573 billion.
Together with its clients, Capgemini creates and delivers
business and technology solutions that fit their needs and drive
the results they want. A deeply multicultural organization,
Capgemini has developed its own way of working, the
Collaborative Business Experience™, and draws on Rightshore®,
its worldwide delivery model.
Rightshore® is a trademark belonging to Capgemini
Thank you for
joining us!

Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels

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Experience-Led Digital Banking: Getting Customers to Buy with Low Cost Digital Channels