Building Mobile-1st, Omnichannel Banking Experiences · 2019-06-24 · Building Mobile-1st,...
Transcript of Building Mobile-1st, Omnichannel Banking Experiences · 2019-06-24 · Building Mobile-1st,...
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Building Mobile-1st, Omnichannel Banking ExperiencesFrom buzzwords to reality
Costis PaikosHead of Digital Services - RetailGroup Digital Banking, Eurobank
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In Asia payment apps are a way of life for over 1bn users. In the West mobile banking is reaching critical mass—49% of
Americans bank on their phones—and tech giants are muscling in” Economist
The Financial Industry is under significant Disruption
“Banks across the world could lose 24% of their revenues to
financial technology companies over the next three to five years” PricewaterhouseCoopers “New entrants to the banking
market are amassing up to 1/3of new revenue”
Accenture
Traditional banks are collaborating with fintech firms as big tech firms are offering banking services, competing to deliver the best consumer experiences.
Forbes
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The de-regulation of Banking opens the market to new entrants
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Global FIN-TECH funding reached $111.8B in 2018 (+120% vs 2107)
This can be a non-Bank
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Neo-Banks expand globally on a rapid pace
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The real threat, however, comes from TECH-FIN
This can be a non-Bank
"Payments is one of the areas where we have an opportunity to make it a lot easier.
I believe it should be as easy to send money to someone as it is to send a photo”
Marc Zuckerberg
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Customers seek Experiences not Products
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…and their expectations are higher than ever
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Eventually, Banks will have to become Tech companies
We are here!
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Eurobank Digital Vision
“Become the simplest and most digitally-enabled bank in Greece and SE
Europe, offering best-in class, mobile-first, personalized services, and
leverage big data and advanced analytics to maximize customer value
and profitability"
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Re-invent the Customer Experience at all
customer touchpoints
Streamline & optimize internal
processes and operations
Migrate customersfrom physical to digital channels
Eurobank Digital Transformation Program
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Key
Are
as/
Init
iati
ves
Enab
ler
Are
as/
Init
iati
ves
Digital Culture(Leadership & Culture, Organization & Governance, People & Skills, Agile@Scale)
Business Strategy
Omnichannel & Customer Engagement
Digital Sales
Internal Digitization
Analytics & Campaign
Mgmt.
PSD2, Open Banking & Ecosystem
Digital Presence &
Social Media
Innovation
IT Infrastructure & Cybersecurity
Inte
rnatio
nal
13
Digital Strategy
The six pillars of our DX journey
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Provide supreme Customer Experiences at all customer touchpoints under an Omni-channel design philosophy
Re-build the underlying Omni-channel Technical Architecture
Establish an effective Digital Factory to implement the new digital assets and support the digital transformation program
Eurobank Omnichannel Banking Project
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https://www.youtube.com/watch?v=4YbQxtCDki8&feature=youtu.be
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App
Web
Digital Customer Interactions
Mobile interactions have exceeded web
20% of digital customers are mobile-only
Mobile transactions grew by 80% in 2018
Mobile users login 19.6 times per month on avg
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Eurobank Omnichannel BankingHow we did it
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Employed Design Thinking, Lean and UX Testing techniques to design the best and most relevant customer experiences
Built (not bought) an asynchronous, microservice-based omni-channel platform on the cloud, with an Open Banking compliant RESTful API
Worked in Scrum Agile teams and scaled under a Nexus Framework, transforming a project into a Digital Factory
Eurobank Omnichannel Banking Project
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Behind the Scenes…
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Eurobank Omnichannel BankingSome lessons learned
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In-house development is painful, however, it creates ownership and competence
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Agile works, however, it needs to be deployed across the organization
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Integrating user feedback should be an ongoing process
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Personalization is valued, in every type of interaction with the customer
Dear Mr Paikos,
We have selected you, among hundreds of thousands of customers, todiscover first our new e-Banking service. We have chosen you because ourdata show that the e-Banking service is your primary tool for your dailytransactions: you have been with us since 2002 and only in 2018 you havelogged-in 325 times!
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Migrating existing customers should be a priority (cheaper, easier, faster!)
Digital Onboarding
Incremental registrations of +25% per month
More than 2.500 calls per month for password
activations where transferred online
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Digital Transformation is about changing Culture
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Thank you!
Thank u!