Bank 2.0 Challenges
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Backbase's Jouk Pleiter presenting the top challenges facing when implementing Bank 2.0.
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Bank 2.0 Challenges
- 1. Customer Experience Solutions. Delivered. 1 Bank 2.0 How to make it Happen?
- 2. Customer Experience Solutions. Delivered. 2 Challenge: Create a Seamless Customer Experience
- 3. Customer Experience Solutions. Delivered. 3 Paradigm Shift: From ‘Inside-out’ to ‘Outside-in’ INTERNAL SYSTEMS AND PLATFORMS Inside-Out Outside-In CUSTOMER EXPERIENCE LAYER LOOSELY COUPLED
- 4. Customer Experience Solutions. Delivered. 4 Marketing SiteMarketing SiteCustomer Experience Platform Core Banking Systems & Processes Mobile Optimized Personalization & Targeting Security & Access Control App Store (web 2.0) Application Integration Customer In Control Interactive Forms & Calculators Superior Experience User Experience Layer: Seamless Customer Journey
- 5. Customer Experience Solutions. Delivered. 5 Marketing Content Personal Content Comm. Tools My Products My Profile Preferences Transactions Accounts Summary Public “Soft” and “Solid” Authorization
- 6. Customer Experience Solutions. Delivered. 6 Widgets: Mix & Match | Any Combination Re-Usable Widgets CONTENT Consistent Across Channels FORMS Enrollment Self-Service ... PERSONALIZATION 1:1 Marketing (targeting, segmentation) COMMUNICATION Chat, Mail, SMS INTERNET BANKING Transactional OTHER APPLILCATIONS CRM 3TH PARTY APPS PFM CUSTOMER ENGAGEMENT PORTAL ONLINE MOBILE CALL CENTER BRANCH OFFICE
- 7. Customer Experience Solutions. Delivered. 7 Challenge: Mobile - Any Place, Any Device
- 8. Customer Experience Solutions. Delivered. 8 Ubiquity - Any Place, Any Device ATM / TVMobileDesktop Customer Experience Platform
- 9. Customer Experience Solutions. Delivered. 9 Backbase BANK 2.0 Portal Mobile Optimized Widgets + (Direct To Browser Via Native App Wrapper NATIVE WRAPPER Hybrid Approach : HTML5 and Native Wrapper
- 10. Customer Experience Solutions. Delivered. 10 Challenge: How to make it Personal?
- 11. Customer Experience Solutions. Delivered. 11 Personal - Customization & Targeting Existing CRM CUSTOMER PROFILE TRACKING BEHAVIOR CUSTOMER PREFERENCES Portal Server Implicit Profiling Explicit Profiling Check Entitlements Customer Preferences Targeting Rules 1 2 3
- 12. Customer Experience Solutions. Delivered. 12 Challenge: Business – IT Collaboration
- 13. Customer Experience Solutions. Delivered. 13 CHANGE CAPABILITY Paradigm Shift: From ‘Slow’ to ‘Agile’ INTERNAL SYSTEMS AND PLATFORMS Outside-In Inside-Out CUSTOMER EXPERIENCE LAYER LOOSELY COUPLED CHANGE REQUIREMENTS
- 14. Customer Experience Solutions. Delivered. 14 • Optimize online results • Lower Cost per Contact • Control: less IT dependency • Leverage existing infrastructure • Easy integration • Secure & Performance Superior User Experience • Personal & Relevant • Anytime, Anyplace & Any Device • Customer Business IT Empower all key Stakeholders
- 15. Customer Experience Solutions. Delivered. 15 CORE BANKING SYSTEMS & PROCESSES SECURITY SERVICES INTEGRATION SERVICES PERSONALIZATION SERVICES CONTENT SERVICES PRESENTATION SERVICES Customer in Control Business in Control IT in Control ✓ Superior User Experience ✓ Multi-Device Access ✓ Personal & Relevant ✓ Optimize Online Results ✓ Lower Cost-per-Contact ✓ Reduce IT Dependency ✓ Leverage Existing Systems ✓ Easy Integration ✓ Secure & Performance BACKBASE BANK 2.0 PORTAL CUSTOMER PORTAL PORTAL MANAGER Backbase: Bank 2.0 Portal Software
- 16. Customer Experience Solutions. Delivered. 16 Portal Manager : Manage your User Experience 16
- 17. Customer Experience Solutions. Delivered. 17 Challenge: Advisory Tools & Enrollment
- 18. Customer Experience Solutions. Delivered. 18 Interactive Advisory Tools
- 19. Customer Experience Solutions. Delivered. 19 Enrollment : Multi-Step Data Entry Flow
- 20. Customer Experience Solutions. Delivered. 20 The Challenge: The Creation Process is Broken CHALLENGES : - Too many steps (slow) – Developer Dependency - Lack of Agility : why does this take weeks / months/ … ? ) - Maintainability: how can I make changes? Business Owner Business Annalist Interaction Designer Development Team Testing Team
- 21. Customer Experience Solutions. Delivered. 21 Solution: Do-it-Yourself (DIY) Forms Management Business Owner Business Annalist Interaction Designer Development Team Testing Team Business Owner Business Annalist MODEL > REVIEW > PUBLISH OLD: NEW : Development Team
- 22. Customer Experience Solutions. Delivered. 22 About BACKBASE
- 23. Customer Experience Solutions. Delivered. 23 + We are Backbase We deliver a white label Bank 2.0 Portal + Customer Engagement Services
- 24. Customer Experience Solutions. Delivered. 24 3rd party apps * 3rd party apps * We deliver globally Customers on all continents and offices in Europe and North America.
- 25. Customer Experience Solutions. Delivered. 25 3rd party apps * 3rd party apps * We service medium to large financials Top financials are already using Backbase to deliver a superior customer experience across multiple channels.
- 26. Customer Experience Solutions. Delivered. 26 Questions? WWW.BACKBASE.COM REQUEST@BACKBASE.COM NEW YORK : +1 646 205 3648 AMSTERDAM: +31 (0)20 465 8888
- 27. Customer Experience Solutions. Delivered. 27 Thank You! WWW.BACKBASE.COM REQUEST@BACKBASE.COM NEW YORK : +1 646 205 3648 AMSTERDAM: +31 (0)20 465 8888
Editor's Notes
- Critical Business Issue eBusiness and channel strategy executives need to develop a new generation of digital financial services that are SUPER: simple, ubiquitous, personal, empowering, and reassuring. Most online banking solutions are good at the basic online transaction capabilities. Rising customer expectations mean that financial services e-Business executives need to fundamentally improve the way they serve customers via digital channels that go way beyond today's transaction capabilities. Backbase Solution Backbase Bank 2.0 Portal offers a single platform to manage, monitor and optimize all your online customer interactions. It enables Banks to create a seamless customer journey between public and personal information and across multiple devices and channels.
- Critical Business Issue In the last 10 years Banks have made an effort to “web-enable” their transaction systems. This approach was very much inside-out, pushing products and features to the customer. In the Web 2.0 world Banks needs to make 180° transformation : become customer centric and put the customer in control (outside-in approach). Backbase Solution Backbase Portal is a new Presentation Layer on top of existing systems. It unifies content, data and functionality from your existing systems into a fresh and customer centric user interface. Backbase offers a “customizable-off-the-shelf” Bank 2.0 Portal product solution that enable Banks create superior online customer journeys that increase the top & bottom line of your online operations and maximizes customer satisfaction (NPS).
- Challenge Traditional banking sites suffer from the silo syndrome. Their public website is completely separated from their closed internet banking platform. They run on completely different technologies, making it hard to re-use assets across both platforms. Customers have to interact with multiple (often very different) websites and its extremely hard to make a seamless customer experience. Backbase Solution - Backbase Bank 2.0 Portal offers a single platform to manage, monitor and optimize all your online customer interactions. - It enables Banks to create a seamless customer journey between public and personal information and across multiple devices and channels.
- Critical Business Issue The explosion of mobile devices and tablets forces banks to make mobile optimized versions of their internet channel. In a first attempt to face the mobile challenge, Banks typically start to develop native apps for iPhone and Android, resulting in jet another set of channel apps (silo-ed) and increased application maintenance & upgrade cost. Backbase Solution Backbase offers a single customer experience layer (lean portal platform) that enables Banks to create widgets that can be presented in multiple presentation formats. Backbase uses an Hybrid approach for mobile application development using a combination of HTML5 and a native OS wrapper technology. With Backbase you have a write once, deploy everywhere approach.
- Let’s take a slightly more detailed look at how this would work. You have your Banking Platform containing your existing infrastructure and the flexible presentation layer as introduced a few slides ago. Most important part of this presentation layer are widgets, the mini-applications. You can optimize these widgets for mobile devices using HTML 5 and multiple open source libraries like jQuery Mobile. Now you are able to (1) directly publish these widgets to the browser or make these widgets available as a native application using the native wrapper (2). Some reasons to choose for a native approach instead of the web approach could be extra device optimization and differentiation such as, use of caching, access to hardware for geo-location, camera usage and security. Using the widget approach gives you greater flexibility and makes sure you don’t have to develop a new application for every new device and system. With widgets on mobile, you are using the same platform as for the rest of your online banking environment: the same user experience layer, the same integration diamond and the same code. It’s a truly ‘write once, run everywhere’ solution. Tackling the biggest challenges for your mobile strategy.
- Critical Business Issue Banks have different customer segments (retail, private banking small business banking, corporate banking) and need different online service models to support their customers. Customers have different needs and preferences (compare the needs of a student vs the needs of a retired couple). Today most banks offer rigid “one-size-fits-all” delivery model that doesn’t match with the Web 2.0 world their customers live in. Backbase Solution Backbase uses a modular widget (mini-applications) model that enables end-customers to customize their online banking experience according to their needs and preferences (my-size-fits-me). Backbase comes with advanced personalization engine to target the right content and functionality to the right customer at the right time. Backbase integrates well with your existing CRM and campaign management software.
- Critical Business Issue The explosion of mobile devices and tablets forces banks to make mobile optimized versions of their internet channel. In a first attempt to face the mobile challenge, Banks typically start to develop native apps for iPhone and Android, resulting in jet another set of channel apps (silo-ed) and increased application maintenance & upgrade cost. Backbase Solution Backbase offers a single customer experience layer (lean portal platform) that enables Banks to create widgets that can be presented in multiple presentation formats. Backbase uses an Hybrid approach for mobile application development using a combination of HTML5 and a native OS wrapper technology. With Backbase you have a write once, deploy everywhere approach.
- Critical Business Issue Existing Systems are difficult to change or replace (slow heartbeat). The process to implement new functionality is too lengthy (change request procedures, complex back-end dependencies, long DTAP cycles). As a result Banks loose their flexibility and are beaten by more agile competitors. Backbase Solution The Backbase customer experience layer is loosely coupled to your existing Back-end Systems. The modern web oriented architecture reduces back-end dependencies and enables Banks to become more agile and make faster and easier changes directly within their customer experience layer. Backbase offers various graphical user interfaces to empower non-technical business people to easily change and optimize their customer interactions (e.g. update content and web forms, update page lay-out and contents, optimize targeting rules and analyze / optimize online campaigns). Summary: We help you to become ‘outside-in’ | customer centric We help you to bridge the slow heartbeat of existing systems with the fast heartbeat of new business requirements We offer a modern User Experience Layer that helps you to get more value out of your existing IT systems.
- Customer Need: Superior User Experience, Any Device Desire: Frictionless Experience Goal: Simplicity, easiness, faster time to completion, Business Need: In Control, Less IT dependency Desire: Faster time 2 market Goal: More flexibility, Grow revenue, Lower cost per contact IT Need: Keeping up with Business demand Desire: Reuse existing systems, Easy Integration, More Agility Goal: Reduce risk and Increase flexibility
- Customer Need: Superior User Experience, Any Device Desire: Frictionless Experience Goal: Simplicity, easiness, faster time to completion, Business Need: In Control, Less IT dependency Desire: Faster time 2 market Goal: More flexibility, Grow revenue, Lower cost per contact IT Need: Keeping up with Business demand Desire: Reuse existing systems, Easy Integration, More Agility Goal: Reduce risk and Increase flexibility
- Critical Business Issue Banks have different customer segments (retail, private banking small business banking, corporate banking) and need different online service models to support their customers. Customers have different needs and preferences (compare the needs of a student vs the needs of a retired couple). Today most banks offer rigid “one-size-fits-all” delivery model that doesn’t match with the Web 2.0 world their customers live in. Backbase Solution Backbase uses a modular widget (mini-applications) model that enables end-customers to customize their online banking experience according to their needs and preferences (my-size-fits-me). Backbase comes with advanced personalization engine to target the right content and functionality to the right customer at the right time. Backbase integrates well with your existing CRM and campaign management software.
- We are Backbase We deliver a white label Bank 2.0 Portal along with Customer Engagement Services
- We deliver globally with customers on all continents and offices in Amsterdam, The Netherlands and New York, United States.
- We deliver to large customers like ABN-Amro, ING, Barclays, UBS and Deutsche Bank.
- Once you have introduced the Customer Experience Layer based on the widget approach you can address the second key point, mobile. Deliver banking any time, any place and on any device.
- Once you have introduced the Customer Experience Layer based on the widget approach you can address the second key point, mobile. Deliver banking any time, any place and on any device.