Home Hunter

Paul Littlefair, GM IT, Kiwibank

Online Strategy

GOALS: • Transforming online from transactional to a full sales & service channel • Rich, immersive digitised experiences for joining and adding products • Better servicing delegators through ORM

Transactional –

Sales & Service GOALS: • Migrate customers to self-service channels •Automate high cost/high volume processes e.g. Credit risk assessment • Migrate postal communications to digital

Process

Simplification

STRATEGIC MEASURES

• 10% join interactions Retail to Online • 90% acquire interactions Retail to Online • 90% use interactions from CC to Online • 90% inform interactions CC to Online • 90% postal comms to digital

GOALS: • Be digitally relevant and where our customers are – e.g. device agnostic; personalisation; data sharing; data integration • Reduce cost to service customers • Deliver digital as part of omni-channel experience • Regain innovation leadership

Be where our

customers are

STRATEGIC MEASURES

• Digital first design • Integration with third party data (APIs) • Supports relationship depth • Online channels of choice for customers

STRATEGIC MEASURES

• 1% annual increase of customers that are main bank •Relationship depth (products held) improved from • Grow market share by 1% p.a. • Online sales conversions

Reinventing banking through digital

1 - ORM

Reinventing home-buying - vision

2011

Scenario 4: Dan & Emma find a

house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....

Scenario 4: Dan & Emma find a

house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....

Scenario 4: Dan & Emma find a

house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....

Scenario 4: Dan & Emma find a

house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....

The Brief

1. Fundamentally reinvent home lending

2. Create a proposition and positioning that

allows Kiwibank to own the territory for

the ‘new way’ of obtaining home financing

3. Deliver a brand proof point that clearly

demonstrates Kiwibank’s innovation

leadership and challenger status

A customer’s perspective

1. Daunting

A customer’s perspective

1. Daunting

83% of Home Loans researched Online...yet only ~20% complete online application & ~3% get approved

Home buying journey

Save Deposit Research Financing

Browse Houses Got Deposit

Research Process Get Pre-Approved

Go Open Home Get Advice

Get Approved Shortlist Houses

Research House Make an Offer

Settle Draw Down

Move In

Shop Rate Select Bank

Where to start?

Storm clouds ahead…

DAUNTING WHERE TO START?

INCOMPLETE INFORMATION

NO TOTAL PICTURE OF COST

WHO TO TURN TO FOR ADVICE?

HOW MUCH TO OFFER?

UNCOMFORTABLE FINANCE DISCUSSION

Home Hunter

1. Answering the financing question

upfront by Pre-approving NZ (for ALL New Zealanders)

2. Comprehensive property search

3. Rich property data for an informed

choice

4. See what you can really afford

5. An expert on hand to guide you at

every step

6. Empowered to make your best offer

Approach & Deliverables

Mon Tue Wed Thu Fri

Outputs

User Story

UI

Framework

Back-end

database

Credit

Model for

Pre-

Approval

Sign-up &

Pre-

approval

(Working)

Open Home

Planner

(Working)

Property

Search

(Working)

Talk to an

Expert -

ORM & MMM

(Working)

Home

Inspection

(Working)

Buyers

Report

(Working)

Go To

Market

Strategy

Marketing

Plan

Prototype

A Business Perspective

1. Increased Lead Generation

Increased Lead Generation

Save Deposit Research Financing

Browse Houses Got Deposit

Research Process Get Pre-Approved

Go Open Home Get Advice

Get Approved Shortlist Houses

Research House Make an Offer

Settle Draw Down

Move In

Shop Rate Select Bank

A Business Perspective

1. Increased Lead Generation

2. Pipeline Visibility

Pipeline Visibility

Save Deposit Research Financing

Browse Houses Got Deposit

Research Process Get Pre-Approved

Go Open Home Get Advice

Get Approved Shortlist Houses

Research House Make an Offer

Settle Draw Down

Move In

Shop Rate Select Bank

A Business Perspective

1. Increased Lead Generation

2. Pipeline Visibility

3. Engaged through out the customer journey

A Business Perspective

1. Increased Lead Generation

2. Pipeline Visibility

3. Engaged through out the customer journey

4. Deeper Relationships

Architecture (roughly…)

Amazon

KB Middleware

Loan applications Activate SDT Core B2K

Data Insight RealEstate.co.nz

Listings

Data used for HH applications

Pro

per

ty f

ile

Property

Enhanced property listings

Kiwibank HH API

User

Councils, LINZ etc

AVM

Enhanced Listings

Home Hunter demo

Results

Home Hunter

Web: 35K

App: 15K

50,335

sessions

Home Hunter

Avg session

time

Web: 1:58 min

App: 6:23 min

50,335 sessions

Home Hunter

App type

Android: 45%

IOS: 55%

App

average

session

time 6:23

min

Web

average

session

time 1:58

min

50,335 sessions

Home Hunter – NZ’s top property

app

Home Hunter

Facebook

likes

583 Android: 45%

IOS: 55%

App

average

session

time 6:23

min

Web

average

session

time 1:58

min

50,335 sessions

Home Hunter

Pre-approvals

Web: 121

App: 267

388

Android: 45%

IOS: 55%

App

average

session

time 6:23

min

Web

average

session

time 1:58

min

FB likes 583

50,335 sessions

Home Hunter

Dollars in

pipe

Android: 45%

IOS: 55%

$156m App

average

session

time 6:23

min

Web

average

session

time 1:58

min

388 pre-

approvals

FB likes 583

50,335 sessions

Home Hunter - pipeline

$16.5m

settled!!!

Home Hunter

Awards

Android: 45%

IOS: 55%

Canstar

Innovation

Winner App

average

session

time 6:23

min

Web

average

session

time 1:58

min

388 pre-

approvals

FB likes 583

Wgtn Gold

Finalist

GSM Finalist

$156m in pipeline

50,335 sessions 5 to

drawdown

Home Hunter

Android: 45%

IOS: 55%

App

average

session

time 6:23

min

Web

average

session

time 1:58

min

388 pre-

approvals

FB likes 583

$156m in pipeline

50,335 sessions

Canstar Innovation

Winner

Awesome!

5 to drawdown