Best Consumer Digital Bank Awards 2018

Call For Entries QuestionnaireBe sure to complete an Entry Form indicating if you are entering the Corporate/Institutional category, the Consumer category or both. On the Entry Form, indicate the Sub-Categories you wish to be considered for. Click here for the Entry Form and Call for Entries.

The Consumer Sub-Categories are:

- Most innovative digital bank - Best SMS/text banking- Best bill payment & presentment - Best website design- Best integrated consumer banking site - Best in mobile banking- Best in social media marketing and services - Best mobile banking app- Best online deposit, credit and investment - Best information security and fraud product offerings management

On the following questionnaire, check the box most relevant to your answer. For open-ended questions, please try to limit your answers to 200 words unless otherwise instructed. You may skip any questions not relevant to your submission or which you are unable to reply to. Applicants may attach additional supporting materials. The Infosys judging panel will review submissions. Global Finance editors will make the final award selections.

All documents should be submitted to Chris Giarraputo, chris@gfmag.com. Call 1-212-524-3214 with any questions.

Deadline for entries is May 15, 2018.

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1. Digital Strategy:a. What is your strategy for making your bank a next generation digital bank? (Please limit your

answer to 400 words.)

b. Do you use cloud computing?

If yes, please provide details.

c. Do you have STP capabilities?

d. By going digital, what cost savings have you seen?

e. Is your account opening and on-boarding process automated?

f. What percent of your products and services are available online?

Yes No

NoPartialComplete

Account opening is offlinePartially automatedFully automated

Less than 50%50%-70%70%-90%More than 90%

Greater than 30%20%-30%10%-20%Less than 10%

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g. What has been the impact of going digital? (Please limit your answer to 100 words each.)

Customer retention

Process improvements

Integration with other channels

SMAC (social, media, analytics and cloud) enabled solutions

Cost optimization

New customer acquisition

h. Describe any other initiatives for digital banking.

2. What are your omni-channel banking capabilities with respect to:a. Service oriented architecture (SOA)?

b. STP capabilities?

c. Web-enabled technology?

d. 24x7 operation?

NoPartialComplete

NoYes

NoYes

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e. Multi-country/currency implementations?

f. Integration with core banking platform?

g. Multi-language support?

3. What products and services are offered digitally? What additional products and services are in your plans to be digitized?

Offerings Type (For example: credit cards, deposits, home loans etc.) Features

Deposit/savings products

Investment products

Credit products

4. Are the products and services mentioned above available through multiple channels? Can a customer initiate product application in one channel and close in another?

5. What are the unique online investment management service features? Please specify the tools/features used including, but not limited to:

Risk profilers

Portfolio recommendation

NoYes

NoPartialComplete

NoYes

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Financial planning tools

Goals/budget savings

Online help through chat

Portfolio review/recommendations

Any other features

6. Please provide the following details about your bill payment services: a. Bill payment features

Features YesPlan to offer this year

No plans to offer

If yes, please provide details wherever necessary

Personalized/customizable ATM screensE-commerce experienceGoogle-like predictive search for adding new payeesPay bills without registrationSupport SEPA formats for batch paymentsPay bills by scanning barcodesPeer to peer money transferTransfer money via email, WhatsApp, Facebook or Twitter or by just entering mobile numberAdvance analytics toolsAvailability of bill payment services to non-customers free of costPay multiple bills at onceImmediate registration and

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set upOther key differentiating features

b. Please share if there is 2FA or multifactor authentication done for bill payment services when done using MobWeb banking or MobileApp banking. (Limit 200 words)

c. How is data security ensured against mobile theft or hacking. (Limit 200 words)

7. Bill payment:

a. What percent of your total banking customers use your online bill payment services?

b. What is the year-on-year growth in the percent of customers using your online bill payment services?

c. What is the typical turnaround time for:

- Registration of the user for online bill payment

- Setting up a successful bill payment

d. Do customers incur any additional charge or are they given any discounts to use your online bill payment service?

8. Unique features of your website:a. Single sign on or straight through processing

25%-50% Greater than 75%50%-75%Less than 25%

Greater than 100%25%-50% 75%-100%50%-75%Less than 25%

Up to 4 hours Greater than 24 hoursUp to 24 hoursImmediate

Up to 4 hours Greater than 24 hoursUp to 24 hoursImmediate

PartialNoYes

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b. Does it have the following interactive features?

Interactive Features Yes No NameSurveysToolsCalculatorsText chatVideo chatAbility to download statements in different formatsPersonalization featuresCompatibility with different internet browsersCompatibility with different operating systemsLinks/information from sources like Dow Jones, Reuters, CNN, etc.Integration with external vendors for utilities bill payment, tax payment, etc.Google Maps or any other geo-location based information

Please list the types of tools, calculators, formats for statements, download personalization features, external links and sources etc. in the “Name” column above

9. Please describe the extent to which your banking channels are integrated, including any channel optimization measures that you have taken.

10. a. What is the level/extent of customization available for your website across regions/customers/segments?

b. Does your website provide the following next generation features?

Features Currently offered

Plan to offer in the future

No plans to offer

Multiservice windowResponsive web designOnline demo videosVideo chatPaperless onboardingAutomated document managementMulti-bank aggregationE-commerce type experienceConsumer analytics

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Single holistic viewPlease list any other features being offered or planned in the near future

11. a. What is your mobile banking strategy and how do you encourage customers to migrate to mobile banking?

b. What percent of your total digital banking customers use online banking vs. mobile banking?

c. What is the year-on-year growth in percent of customers who actively use mobile banking?

12. a. How do you handle mobile banking maintenance, upgrades and downtime?

b. What is the average downtime faced by end users of mobile banking? Please provide Information for SMS Banking and/or Mobile Banking Application.

13. a. What are the basic and advanced level technologies in place for monitoring and preventing online banking (including mobile banking) fraud/theft/hacking (including information on layered security features, features to ensure transaction security, levels of user authentication, encryption protocols used, etc.)?

b. Explain the methods/technology adopted to ensure safe and secure text (SMS) banking.

14. a. What is your fraud prevention strategy?

b. Do you have a policy to compensate customers for their loss?

25%-40% Greater than 60%40%-60%Less than 25%

Greater than 100%25%-50% 75%-100%50%-75%Less than 25%

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15. What are the customer awareness and education initiatives taken to educate customers on information security for SMS banking and/or mobile banking?

16. Is your web site compatible with a mobile browser (WAP browser)?

If yes, please provide details of the technology used.

17. a. What percent of your customer base is enrolled for SMS/text banking?

b. What are the products and services accessible via mobile banking?

Offerings Currently available Plan to offer No plans to offer

Check balancesTransfer fundsView statements/transaction historyATM/branch locatorBill paymentMobile P2P transferMobile remote deposit (RDC)View credit card balance, statement, transaction historyStop payment requestsCheck book reorderPersonal financial managementInternational remittancesSingle login credentials for online and mobileOpen accountsPlease list any other features being offered or planned in the near future.Please use the space below to describe the offerings listed above. (Please limit your answers to 100 words for each offering.)

Yes No

25%-40% Greater than 60%40%-60%Less than 25%

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18. What services are accessible to a customer via SMS banking? Please provide the list of push and pull services separately for SMS Banking.

19. a. What is your strategy to use social media channels?

b. What do you use social media channels for?

AwarenessProduct promotions and campaignsGrievance reportingTransfer moneySocial media analyticsRun virtual banks to provide products and services through social media platformsPlease list any other features being offered or planned in the near future

20. a. Do you monitor social media activity through a dedicated team? If yes, please provide details.

b. What is the turnaround time for responses on your social media channels?

c. How do you protect customer privacy and ensure customer data security?

21. a. How do you handle structured and unstructured data? Please list any specific analytical tools used.

b. Do you have a big data strategy in place?

2-6 hours Greater than 24 hours6-24 hoursLess than 2 hours

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c. If your answer to the above question is yes, then what are the ways in which you leverage big data? Please provide some specific examples. (Please limit your answer to 300 words.)

22. PFM: a. Do you offer a personal finance manager (PFM) tool? If so, please provide the following

details:

In house tool or third party? In-house Third party

Available to all customers? All Selective few

Available free of cost? Free Fee-based

Does it support account aggregation? Onlyself-accounts

Other banks’ accounts/ cards/investmentsupported

b. Elaborate on the overall functioning of the tool.

c. What are the methods/choices available for data updates/synchronization?

d. What are some of the important functionalities/offerings?

e. What are the most important tools?

23. Are the following advanced technologies/trends in use at your bank?

Technology In use Will implement in near future No plans to use

Blockchain technologyCryptocurrenciesSocial media analyticsRobotic (automated) consultationNew credit underwriting modelsArtificial intelligenceInternet of things

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If the answer to any of the above is “in use” please describe below.

24. What are your key focus areas for 2018? Please rank the following from 1-7 with 1 being the highest priority.

Focus Areas Rank given (from 1-7)Social mediaPaymentsMobilityAcquiring/co-innovating with fintech startupsOmni-channel bankingCore platforms upgrade/conversionAdvanced analytics and big data in use

Please use the space below to provide further details on your priorities above.

25. What new areas of innovation or innovative techniques is your organization currently working on or planning to implement in order to increase revenue and drive business growth?

Area of Innovation In Use Now(Yes/No/NA)

In Planning Stage For

Future Use(Yes/No/NA)

Comments (Please explain in detail)

Cloud based internet bankingFintech partnershipsInvestment in block chain/distributed ledgers/ cryptocurrency initiativesActionable use of big data for cross-sellingRobot force (robo advisory for investments/robo-tellers etc.)Modernization of legacy IT/old banking applicationsRapid experimentation & agile development techniquesUse of APIs to build dynamic ecosystemOthers - Please explain

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26. Please highlight the areas of innovation being focused on to enhance customer satisfaction.

Innovation Area In Use Now(Yes/No/NA)

In Planning Stage For

Future Use(Yes/No/NA)

Comments (Please explain in detail)

Appointment setting technology using mobile and/or web bankingInnovative pricing strategies for consumers for financial services and productsCollaborative development/ user-centered customer-journey design (For example: Using social media, face-to-face interaction, customer feedback forms etc.)Use of heat map technology to trace customer preferences (Self-service kiosks/recreations/ refreshments etc.)Geo-fencing/beacon technology for targeted messaging and offersCyber security (For example: biometrics or any other advanced techniques)Mobile-only account opening experiencesWearable computing for contactless payments or any other activityOthers - Please highlight

27. Please provide any other information you think will strengthen your case.

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