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Financial Services
Effective Information Management and Communication
Ricoh is a global leader in information management. Our services and solutions are tailored to the needs of the financial sector. They streamline administrative processes and enhance customer communication, reducing costs, increasing revenue and building loyalty.
2 - RICOH Financial Services
Integrated end-to-end solutions
The financial services sector is constantly evolving. The market today is characterised by intense competition
and framed by heightened regulatory scrutiny. There is growing appreciation of the value of customer
service, particularly as customers can now more easily switch from one financial services provider to another.
Whether your primary business is banking, investments, pensions or insurance, all financial institutions
face a similar challenge: that of enhancing their customer services to build loyalty and win new business
whilst, at the same time, identifying efficiencies that will streamline administration and reduce cost.
Financial institutions are turning to their technology partners for assistance. They are looking for tailored
services and solutions that will streamline their administrative processes and enhance communication,
improving back-office efficiency and driving customer engagement.
This is where Ricoh can help. As a global company specialising in document management, office imaging,
IT services and production printing, Ricoh is able to provide integrated end-to-end financial solutions that
add customer value and deliver significant cost and efficiency gains.
78% in financial services say that technology makes their business more
productive and plays an essential role in supporting new ideas*
* Economist Intelligence Unit, ‘Humans and Machines: The Role of People in Technology Driven
Organisations’, sponsored by Ricoh
Ricoh’s financial sector services and solutions
Page 4
Page 6
Page 8
Page 11
Page 15
1. Financial Services: Sector Overview
2. Ricoh Engagement Process
3. Ricoh Solutions
4. Re-Imagining the Future Customer Experience
5. Customer Case Study
3 - RICOH Financial Services
Optimising information flows
Consulting with you on your requirements, we can deploy appropriate services and solutions, developed
specifically for the financial sector, that will enhance your customer communication, streamline your
information processes, enhance document security and reduce the administrative workload.
More information can be found on the following pages:
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The Challenge of Speed
The financial services industry is undergoing a period of rapid change. Many financial institutions are in a
state of strategic transformation as they re-engineer their business models to adapt to new challenges.
• Transform business model
• Implement mobile, cloud-based digital banking
• Big Data: Integrate and manage customer data
• Develop efficient end-to-end workflows
Technology
• Restore public confidence
• Develop mobile banking strategies
• Engage using social media
• Interactively customise products and services
Customer
• Recover from financial crisis
• Strengthened capital reserves
• Develop new revenue streams
• Make profit in a low interest rate environment
Economic
• Adapt to financial legislation
• Comply with new regulatory standards
• Embed risk management culture
• Transparent compliance
Regulatory
Key Drivers for Change
Maturists (Pre 1945)
Baby Boomers (1946-1960)
Generation X(1961-1980)
Generation Y(1981-1995)
Generation Z (1995 onwards)
Percentage in UK
workforce 3% 33% 35% 29%Part-time and
apprenticeship
Attitude to
technologyLargely disengaged Early IT adopters Digital immigrants Digital Natives
Dependent on IT
(limited interest in
alternatives)
Preferred media Formal letter Telephone Email and text Text and social media
Integrated media
(smart watch, glasses
etc.)
Preferred
communicationFace-to-face
Face-to-face,
telephone or email
Text message or
Online and mobile
(text messaging)Facetime
Preference when
making financial
decisions
Face-to-face meeting
Face-to-face meeting
but increasingly will
go online
Online but would
prefer face-to-face if
time permits
Face-to-face
Solutions will be
digitally crowd-
sourced
Preferred Communication Channels
Whilst adapting to these challenges, financial institutions also need to consider how best to communicate
with digitally engaged customers. This table*1 shows the communication channels preferred by different
demographic groups.
*1 Baby boomers ‘hold the advantage’ as Generation X suffers a mid-life crisis, published by The Times (Economics), 2013.
5 - RICOH Financial Services
Financial services executives recognise the need for dynamic change, however just one in ten*2 feel they
can rapidly take advantage of new opportunities. Alongside the need to juggle conflicting demands from
consumers, regulators and shareholders, it is the speed at which they adapt to technology-led change and
re-engineer critical processes that is heightening the burden.
Although under pressure, business leaders understand the importance and need for change over the next
three years, and more than half (54 per cent) have ideas to tackle such future transformations. Adopting
new technologies (first), attracting and retaining customers (second), and improving core business processes
(third), are cited as the top most crucial areas for change within their business.
However, the challenge is in execution. Within financial services, an average of 43 per cent of respondents,
admit that they lack the ability to execute their ideas well. Financial services leaders say the biggest barriers
to change are process related. They rank bureaucratic decision making processes (47%), effectively linking
technology platforms (40%) and insufficient access to information (35%) as the most obtrusive.
Barriers to Change:
• Bureaucratic decision making processes (47%)
• Linking technology platforms (40%)
• Insufficient access to information (35%)
Ricoh can help financial services institutions overcome these barriers to change by delivering tailored
customer-centric services and support that improves their responsiveness to client needs, allows then to be
more effective and reduces their exposure to risk.
Embracing Change:
• Embrace technological solutions which enabled bespoke customer
communication
• Enhance relationships with customers by delivering the right
information in their preferred format at the right time
• Outsource document management to minimise time and costs spent on
back-office administration
• Continually review optimised processes to ensure they remain
compliant with industry regulations
*2 The Challenge of Speed, conducted by the Economist Intelligence Unit, and sponsored by Ricoh Europe.
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Structured engagement process
Financial institutions have complex information flows. Inbound documents, which can include paper-based
mortgage applications and insurance claims as well as web generated enquiries and account applications,
must be recorded and processed securely within an auditable workflow.
At the same time, outbound customer communication, which can incorporate information collated
from different internal databases, has to be optimised and communicated effectively across a variety of
platforms, including email, SMS and post.
If the information workflows are not managed effectively, time can be wasted, tying up valuable internal
resource and delaying customer engagement. Use of ineffective systems and technology can also add cost
to the operation.
Because your information workflow is unique, Ricoh will take
time to understand it and identify where improvements can
be made before implementing an end-to-end solution which
supports your needs more effectively.
We follow a five-step process that takes us from initial
understanding to full optimisation. It is a structured,
consultative and customer-centric approach. It results in
smarter, more efficient workflows.
Working with Ricoh and its suite of customer-focused
solutions, financial services organisations can combine a
streamlined business process infrastructure with a renewed
focus on their customers, ensuring they are always one step
ahead of the competition.
Our Delivery Model
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Business Process ServicesManaged outsourced solutions which
streamline core document processes
and increase output.
Workplace ServicesStreamline office processes and make
more efficient use of your workspace.
Sustainability Management ServicesReduce the environmental impact and
cost of your business processes.
Production Printing ServicesImprove efficiency and reduce cost
by optimising your production print
operations.
IT Infrastructure ServicesOptimise your IT to enhance
productivity, increase efficiency and
deliver lasting strategic advantage.
Application ServicesEnhance your information workflows
with our expert application delivery,
consultancy and support services.
Communication ServicesCollaborate and share with anyone,
anywhere, anytime with the best ways
to communicate and engage.
Ricoh’s global services
Ricoh is a global leader in document management. Our multi-industry expertise and our class leading
products and services help us to transform our customers’ business critical document processes. We have a
worldwide service network which covers 95% of Fortune Global 500 company employees.
Our core business services - as relevant to customers in the financial sector as they are to other customer
groups - are listed below. They are supplemented by a suite of services and solutions developed by Ricoh
specifically for the financial services sector.
Managed Document ServicesHelping you enhance business efficiency and
productivity. Optimised for the financial sector:
- End-to-end project management
- Best practice training
- Data security and cleansing
- Security compliance
- Managed testing services
- Comprehensive hardware and network audits
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Branch Paperless
Ricoh’s Branch Paperless solution is designed with the modern financial institution in mind. It allows
the branch offices of banks, building societies and brokerages to optimise document processes, such as
mortgage or loan applications, improving efficiency and providing an auditable document trail.
Speed up submission and approval
Many existing branch office document processes are manual. A lack
of consistent data management means that documents forwarded
manually to a central office or processing facility can easily be
misfiled, compromising compliance.
Ricoh’s Branch Paperless solution replaces the manual document
processes with a compliant and easy-to-use digital workflow.
The end-to-end solution includes the management, indexing and
archiving of documents which allows staff to scan files into an
electronic approval flow.
Documents can be accessed instantly and viewed simultaneously
by different users, regardless of location. The elegant electronic
solution speeds the decision-making process and, by streamlining
the administrative workflow, enables staff to spend more time with
customers.
Ricoh’s solution can be deployed to optimise an existing digital
workflow, automating the scanning and archival process to save time
and improve compliancy, or can be implemented across an entirely
new workflow, replacing manual paper-based processes.
Key Benefits:
• Index, archive and escalate documents
• End-to-end workflow
• Electronic approval flow
• Compliant process
• Auditable document trail
• Reduces administrative workload
• Speeds approval process
• Improves customer experience
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Key Benefits:
• Personalised communication
• Multi-channel support (email, SMS and post)
• Dynamic reporting
• Increased customer loyalty
• Improved acquisition and retention
• Agile business model
• Streamlined process
• Auditable communication history
• Reduced costs
• Modular or managed CCM services
Customer Communication Management
Customers expect relevant, detailed and timely communication from their financial services providers. To
engage the customer, build brand loyalty and cross-sell additional services, your customer communication
needs to be colourful, personalised and targeted.
Enhance customer communication
Ricoh’s Customer Communication Management (CCM) is an
integrated suite of solutions and supporting services which enables
financial services providers to manage their customer communication
processes more effectively.
It allows financial services providers to take control of their regular
and ad hoc communication - everything from email marketing, to
personalised welcome packs and regular statements - ensuring that
each document is effective, traceable and compliant.
Automation sits at the heart of CCM. Financial services providers
can safely validate, personalise and deliver multi-channel customer
correspondence within a framework of customer preference,
regulatory compliance and a fully auditable trail.
Consulting with you, we can deploy CCM service modules to
optimise your inhouse communication process or provide a managed
outsourced solution that allows your business to migrate quickly to
more cost effective multi-channel communication methods.
CCM can be delivered as an outsourced solution (CCM Outsourcing
Services) or as a modular in-house solution (CCM Solution Suite).
Marketing Asset Management
In today’s competitive market place, global marketing campaigns have to be delivered faster, made more
relevant to customers and aligned to revenue goals. Local adaptation and personalisation has to be closely
managed, cost-effective and on brand.
Marketing Asset Management (MAM) - the systematic development, distribution and tracking of
marketing assets - can help maximise returns. Through its subsidiary PTI Marketing Technologies, Ricoh
provides access to leading web-based Marketing Asset Management tools.
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Precision Marketing
Ricoh’s Precision Marketing service delivers real business advantage. Your customers will receive precisely
targeted, personalised communications that meet their needs and preferences. The approach results in
higher levels of customer engagement and conversion rates.
Ricoh’s data analysts identify the data required to build an analytical model. They will consolidate data
from multiple silos, consolidate it into a single file and analyse it to define target profiles using intelligent
state-of-the-art software.
Taking the guesswork out of marketing, Ricoh’s Precision Marketing service will enable your business to
switch from pure product marketing to proactive CLTV (Customer Lifetime Value) management, targeting
the right customers with the right services.
Precision Marketing adds value by improving customer retention and conversion rates. It allows financial
institutions to make sound marketing decisions, based upon known cost parameters and accurately
projected acquisition and retention rates.
Right Format
Right Time
Right Information
Digital
Mobile
Financial Institution
Content Management and Data Analysis
TargetedMulti-channel
Communications
Printed communication Digital communication
Promotional marketing
Welcome packs
Regular statements
Encrypted Customer
Data
CCM drives digital migration
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Re-Imagining the future customer experience
The ways that customers interact with financial institutions is changing at pace. Many traditional branch
services have moved online, with customers increasingly using web and mobile services to pay bills, view
statements and manage their finances.
Optimise the value chain
Banks and other financial institutions have reacted by closing down loss making branches. But, according
to research conducted by Capgemini Group, 90% of consumers still prefer to receive face-to-face advice
when buying complex financial products.
The role of the retail branch is changing. Many transactional banking processes will in future be hidden
from sight and the customer environment will be re-purposed. The branch of the future is more likely to
resemble a business lounge than a banking hall.
The high-tech interactive environment will build the customer relationship and support the face-to-face
sale of complex financial products. Digitally connected sales professionals will be able to access, share and
present information seamlessly with their customers.
Ricoh can help to drive the change, providing financial institutions with the customer-facing interactive
digital technology required for face-to-face selling as well as the services and solutions required to
automate back-office processes and remove them from public sight.
Our Clickable Paper cross-media advertising tool and Smart Presenter mobile sharing application will bring
your promotions to life and help you to engage more effectively with your customers. These, and some of
our other intelligent communication solutions, are described overleaf.
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Interactive cross-media advertising
Bring adverts, product literature and editorial to life with online content. With Ricoh’s Clickable Paper
interactive mobile app, you can extend the power and reach of your marketing. To find out more about
your products and services, customers need only click on the app.
Clickable Paper
The iOS and Android mobile apps are free to download and use. App users just snap an image of the
printed material they are viewing. The app sends the snapped image to the cloud server and after the links
are returned, it displays them in an easy-to-view format.
Today’s consumers demand instant
gratification. Marketers like to try, test and
measure. Clickable Paper gives everyone
what they want. Your customers can read
reviews, download a coupon and click to
buy. And every click-through is tracked, so
detailed analytics are available.
No unsightly barcodes or marks are
required and there is no need to enter a
web address. Clickable Paper recognises
hotspots within printed content and
provides instant one-touch access to
multiple links, such as videos, reviews,
product specifications and downloadable
extras.
Authoring Mobile App
• Identify hotspot and assign rich media
• No editing, formatting or additional content required
• Use any printed brochure or advert
• Easy one-click image capture
• Submits a query to the Clickable Paper cloud database
• Displays rich media results for user action
• Cloud based database stores indexed documents and rich media
• Ricoh image recognition technology identifies hotspot and returns results
• Tags updatable anytime
Clickable Paper Cloud Database
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Digitally share meeting information
Ricoh’s Smart Presenter allows you to share information more easily with your customers and colleagues.
Eliminating the need for paperwork in meetings, presentations and seminars, it enables documents and
presentations to be displayed on iPad and iPhone.
Smart Presenter
Imagine being able to share detailed information with your customers
and colleagues on their mobile devices in real time. The Smart
Presenter app synchronises participants’ devices with that of the
organiser, ensuring that everyone is on the same page.
There is no need to print out documents, set up a projector or ask
customers to view a PC screen, with Ricoh’s Smart Presenter, anyone
can present and everyone can see. The presenter maintains control
and data can be wiped from all devices when the meeting is over.
Enhancing the presentation experience, Ricoh’s Smart Presenter app can also be linked with Ricoh’s
wireless projectors. Ricoh’s Conference Centre server software extends the capabilities of Ricoh’s Smart
Presenter app by supporting larger meetings and providing enhanced security options.
Bring people together
It is not necessary for participants to be in the same room, the same
country or even the same time zone to hold constructive meetings.
Ricoh’s Unified Communication Systems enable real-time interactive
audio and visual communication between multiple remote locations.
Providing remote access, Ricoh’s Unified Communication Systems
enable branches to call upon external expertise.
Unified Communication Systems
Ricoh’s innovative video conferencing solution integrates video, audio, text and interactive media. The
portable technology is as easy to use as a mobile phone. Its wireless technology connects seamlessly,
enabling face-to-face communication from virtually any location.
The technology promotes smarter working. It bridges the gap between mobile workers, branch employees
and the head office and, in a retail branch environment, facilitates consultative face-to-face meetings
between customers and remotely located product specialists.
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Present, collaborate, annotate and save
Ricoh’s interactive whiteboards will help to make your meetings more informative and productive. Using
the interactive technology, it is easy to present and collaborate using a range of digital media, including
spreadsheets, presentations and video.
Interactive Whiteboard
The high-tech panels, which have a high-resolution display and
support smooth handwriting, can be deployed in customer-facing
environments and used as a display for Ricoh’s video conferencing
technology, enabling meeting participants to share content using a
‘picture-in-picture’ function.
The smart technology is easy to use. There is no need to install
any software; users simply connect using a computer, tablet or
smartphone. The touchscreen supports drawing, annotation and
editing. Screen content can be printed on the fly, saved to a USB
memory stick or shared via email.
Project a more professional image
Ricoh’s high-intensity data projectors lend a professional edge to presentations. Ideal for large meetings,
Ricoh’s conference room projectors will project in high definition onto screens up to 300 inches in size,
whilst the integral 16 W speaker fills the room with quality sound.
Digital Signage
Adding extra impact to customer presentations,
Ricoh’s innovative Digital Signage (DS) feature enables
a single cohesive widescreen image to be projected
using two or three projectors. Simple one-click
calibration and wireless connectivity make the Ricoh
solution easy to use.
Smaller meetings are easily catered for too.
Generating minimal heat and noise, Ricoh’s
office projectors are perfect for small meeting rooms
and being lightweight are easily portable. Easy to set
up, they can be used to present a professional image
at a customer’s premises.
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Customer Case Study
With assets exceeding €1 trillion and nearly 100 million customers
worldwide, Ricoh’s customer is one of the world’s most successful
retail banks. Customer centricity and operational excellence are key
strategic focus points for the bank.
The bank mails more than 500 million documents to customers
every year. Rationalising the bank’s in-plant production
facilities presented the opportunity to add impact to customer
communication and reduce production and mailing costs.
Many jobs were printed directly from mainframe systems. Work
could not be moved from printer to printer and, with post-process
optimisation also managed by mainframe applications, the bank
was unable to pre-sort mail and take advantage of postal discounts.
Ricoh transformed their production processes. Ricoh’s unified print
management tool handles pre and post-production processes,
streamlining the workflow. Multi-channel content is optimised and
output digitally or printed to an appropriate production device.
The print management tool allows the bank to impose templates,
merge data from different applications and split print production
across multiple devices. The system also allows work to be switched
seamlessly from one production site to another, increasing flexibility.
Ricoh’s solution has enhanced the integrity of the bank’s
communication, building customer trust. A closed loop system with
page and document level reporting ensures that customers are sent
accurate information that relates solely to their account.
The bank now has access to a flexible and productive Automated
Document Factory. Ricoh’s solution allowed the bank to enhance
the effectiveness of its print communication, increasing customer
centricity, whilst improving process efficiency and reducing costs.
Objectives
• Rationalise in-plant services
• Increase flexibility and capacity
• Produce multi-format output
• Minimise production costs
• Reduce postage costs
Results
• Fully integrated solution
• Pre and post-process control
• Powerful and intuitive interface
• Channel / platform independent
• Improved integrity
Benefits
• Enhanced customer communications
• Automated document factory
• Increased flexibility and capacity
• Multi printer / multi site back up
• Significant cost savings
Ricoh’s solution streamlined production and increased flexibility. It improved the effectiveness and integrity of our print communication whilst reducing costs.”
www.ricoh-europe.com The facts and figures shown in this brochure relate to specific business cases. Individual circumstances may produce different results. All company, brand, product and service names are the property of and are registered trademarks of their respective owners. Copyright © 2015 Ricoh Europe PLC. All rights reserved. This brochure, its contents and/or layout may not be modified and/or adapted, copied in part or in whole and/ or incorporated into other works without the prior written permission of Ricoh Europe PLC.
About Ricoh
As a global company specialising in office imaging equipment, production print solutions, document
management systems and IT services, Ricoh offers financial institutions true end-to-end solutions that add
customer value and deliver significant cost and efficiency gains.
Understanding your business objectives, Ricoh will streamline your information processes, introducing
secure and compliant services and solutions that will reduce the administrative workload and release
resource to value-added customer-centric activities.
16 - RICOH Financial Services