HOW TODAY’S

DIGITALREALITYCAN ENRICHCUSTOMEREXPERIENCES

KEYNOTE ADDRESS BY RAJA TEH MAIMUNAH Chief Executive Officer, Hong Leong Islamic Bank5th Malaysian CMO Conference 2016

1967 NOW

“Why Banking Is No Longer Somewhere You Go But Something You Do (2012)”

Brett King, Bank 3.0

“You’ve got to start with the CUSTOMER EXPERIENCE first and work back towards the technology;; not the other way around…”

CONVENTIONAL

To be the forerunner in CX, one must embrace disruptive technology as the

norm i.e.

You MUST DISRUPT your own business model.

The World’sLARGEST

Taxi Company

… doesn’t owna single taxi

The World’sLARGEST

AccommodationProvider

… doesn’t owna single

Real Estate

The World’sLARGESTPhone

Companies

… doesn’t ownany Telco

Infrastructure

… doesn’t ownany Inventory

The World’sMOST

VALUABLERetailer

The World’sMOST

POPULARMedia Space

… doesn’t ownany content

The World’sFASTEST

Growing Bank

… doesn’t holda single cent

The World’sLARGESTMovie House

… doesn’t owna single movie

theater

The World’sLEADINGTravel Agent

… doesn’t owna single

physical branch

WHAT IS THEIRCOMMONBUSINESSMODEL?

they all only exist VIRTUALLY

on the fastest-­growing medium the world has

ever witnessed

made available on the world’s fastest-­growing platform

models that won’t work in brick & mortar

form

… much easier said than done, isn’t it?

Don’t believe in hunches & gut-­feel.Believe in STATISTICS, NUMBERS & FIGURES.

3.2billion

online users in the world,and growing very rapidly.*

7.1billion

mobile connections,as much as there are people.**

**wearesocial.comJan2015*International Telecommunications Union

4.9billion

inter-­connected devices,increasing by 30% YOY***

***Gartner Incorporated

Believe in the 4.87 exabytes* of data consumed by smartphone users monthly

A LargeNovel

Informationin the human genome

Annual World Literature Production

All US Academic Research Libraries

2/3 of Annual World

Production of Information

A TinyAnt

Height ofa Short Person

Length of Auckland

Harbour Bridge

Length of New Zealand The Sun’s

Diameter

DATA

SIZE

IN PER

SPEC

TIVE

*Cisco VNI 2015

GO DIGITALDigital platforms and devices have blurred the boundaries

between physical and virtual realities.

It is already THE primary platform for Gen-­X, Gen-­Y and Millennials, and will be that way for future generations.

It is the defining force hereon.

Businesses without digital presence or innovation are losing out. Some have even folded.

Laptop + Desktop + Tablet + Smart TV

Today’s consumer has multiple touchpoints and the best way to reach out to them will be through digital.

Things you once had to go out and buy can now be purchased online, from clothes to groceries to even buying dinner!

The same goes for banking. Through multiple devices, you canTRANSFER FUNDS . PAY BILLS . PLACE A FIXED DEPOSIT . BUY CURRENCIES PEFORM REMITTANCE . BUY A WILL . APPLY FOR LOANS . and much more …

…save you from a lot of trouble and hassle, too.

…and save something we can never have enough of everyday:

Buy coffee – use my Contactless Card

Colleague pays for lunch using PEx+ at partner restaurant….

I pay her my portion using PEx, sending the amount straight to her account

Check my account balance on my Apple Watch

Pay my bills through my Mobile Phone Left my ATM card in

the office, use phone to withdraw money for maid

Movie with kids. Buy tickets & scan QR with mobile

TO REINVENTBUSINESS MODEL,look at things from

CUSTOMER EXPERIENCE,less from product

DIGITIZING YOUR PRODUCTSDOESN’T necessarily equate toa better customer experience

This means different things to different people. Know your customers, and find out what

matters to them most e.g. cost, speed, variety etc.

ONLINE and OFFLINE consumers are birds of very different feathers.Attempting behavioral change, although rewarding, is also risky

So focus on Customer ExperienceIn the context of DIGITAL TOUCHPOINTS

Develop Digital initiatives that COMPLEMENT existing customer journeys, not necessarily changing them

INTEGRATE YOUR ONLINE & OFFLINE STRATEGIES

THANK YOU