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Thank you to
For sponsoring this session
Dave DeFazioPartner
dave.defazio@strategycorps.com615-498-5220
linkedin.com/in/davedefazio
@DaveDeFazio
+
+ Customers are more
demanding than ever
“I completely understand mobile banking”
47%
2015
57%
2014
Source: Accenture. 2015 Consumer Banking Survey
“My banking relationship is merely transactional”
78%
2015
71%
2014
Source: Accenture. 2015 Consumer Banking Survey
“If you’re not going to compete on the
technology front, you’re going to be in trouble.
Customers are going to tell you how they want to
bank.”
John Ikard, CEO
- What is our mobile mission?- How will we increase
awareness for mobile services?- How will me measure digital
engagement?- Do our customers understand
and like our mobile services?- What features do our customers
expect?- How do we pressure our mobile
providers to do more?
Mobile Arms Race+
Source: JD Power
10% 10%
18%
All 35-54Millennials18-34
3%
55+
Source: Accenture. “In the last 12 months, have you switched to a new financial services provider?
Account Switchers
Source: AlixPartners, Consumer Switching Behaviors, Financial Services Franchise Health Study
7%
35%
7%
13%7%
30%
15%
26%
18%
30% 27%
17% 16%
32%
31%
29%
30%7%
23%
36%
41%48%
44%48%
60%65%
Q2 2010
Q4 2010
Q2 2011
Q42011
Q2 2012
Q4 2012
Q2 2013
Q4 2013
Q2 2014
Extremely Important Important
Mobile Drives Switching
Source: JPMorgan Chase; Investor Day Presentation; Consumer & Community Banking, Feb, 2016
Source: JPMorgan Chase; Investor Day Presentation; Consumer & Community Banking, Feb, 2016
Source: JPMorgan Chase; Investor Day Presentation; Consumer & Community Banking, Feb, 2016
Source: JPMorgan Chase; Investor Day Presentation; Consumer & Community Banking, Feb, 2016
Source: JPMorgan Chase; Investor Day Presentation; Consumer & Community Banking, Feb, 2016
more customers
more deposits
lower expenses
better retention+= good
- What are we doing to win the millennial switchers?
- What percentage of new accounts are age 18-34?
- What does our mobile scorecard look like?
- What % of new accounts are paperless in 30 days? Overall?
- How does our attrition vary by channel usage?
- How can we study the big banks and steal ideas from them?
Disruption+
Digital Transformation+
Cash Check Cards MobilePayments
Future is almost here+
Voice-to-text savings transfer
Real estate market trends
People-like-me tech
Location based coupons
Instant spending feedback
Location based home search
Wearable directions
Doc scan to text
Unlock house w/ smartphone
Savings goal notification
Unbundling of a Bank
+ Mobile Payments
18%
5%
20152014
Bonus Stats:
• 13% use semi-regularly
• 8% use at least once per week!
Mobile Payments User Penetration
Source: Deloitte. Survey of US Consumers
.05%
2013
Mobile Payments Forecast
Source: BI Intelligence, The Mobile Payments Report
In-store mobile payments users
2020
150 million
Mobile payment penetration 56%
CAG rate 2105-2020 80%
Mobile payments volume $503 billion
24% of all transactionsoccur on mobile devices
Coming Soon!!
App Payment Screen
Disappearing Payments
Social Payments
Social Payments
- What role does apple pay play?- What are our vendors planning
for mobile wallets?- How will we monitor payment
trends?
Born-DigitalBanking Apps+
- How do social networks impact the way that we communicate with our customers?
- What ideas can we steal from the born-digital banks?
- How can we automate financial advice in a mobile world?
Merchant Offers+
Subscription Society
Sam’s Club Costco
BJ’s Wholesale Amazon Prime
AAA Netflix Spotify
Cell Phone Insurance AARP
“Our customers continue to tell us how important
it is to save money while they shop.”
Relevant Offers
Right Offer Right Person Right Time Right Place
Right Reason
- How must our products change in the subscription economy?
- How can we go beyond transactions to engage customer lifestyles?
- What are our plans for location/proximity marketing (geo-fences, beacons)?
- How do we ensure that our reward and engagement systems are relevant?
The Digital Leadership Test+
strategycorps.com/test
Dave DeFazioPartner
dave.defazio@strategycorps.com615-498-5220
linkedin.com/in/davedefazio
@DaveDeFazio
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