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

Experience-Led Digital BankingGetting 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 lowcost, 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

InteractionsCorresponding Preferred Behaviors

Customer seeks

product information

from bank’s websitevia tablet or mobile

Customer discovers new

bank offer and wants to

learn more via mobile application

Customer checks bank

balances and

transactionsvia mobile application



Delivering Experience-led bankingGive 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 BankingHelping 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 BankFirst 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 portalSingle access number for all services & branches

Conforming branding

Improved call qualification and superior customer experience

Remembered customer journey

Analytics

Before After



Large Multinational BankSelf-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

3M minutes 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

Delivering Experience-led BankingHelping 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 Firm11million 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

Delivering Experience-led BankingHelping 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

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with a personalized Demo

Register here or e-mail us at

[email protected]

http://www.capgemini.com/odigoforbanks

http://financialservices.capgemini.com/2015_Banking_Odigo_Demo-Request-LP.html

mailto:[email protected]

https://www.capgemini.com/resources/give-your-customers-something-to-love-personalized-experience-led-banking

https://www.capgemini.com/resources/give-your-customers-something-to-love-personalized-experience-led-banking

https://www.youtube.com/watch?v=u--9AzxOWSg

https://www.youtube.com/watch?v=u--9AzxOWSg

http://www.capgemini.com/resources/video/smart-call-for-conversational-mobile-apps

http://www.capgemini.com/resources/video/smart-call-for-conversational-mobile-apps

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

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