Making banks bankable
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Transcript of Making banks bankable
MAKING BANKS BANKABLE
Let’s take a step back. Banks have changed over centuries…
From…
…to…
…to…
…to…
…to…
DIGITAL has taken over!
The Digital Imperative is upon YOU.
Image Credit: emka74 / shutterstock.com
Like Yoda said DO OR DO NOT. THERE IS NO TRY.
BUT, What was Digital yesterday…
is NOT Digital today…
What is Digital today…
Won’t be Digital tomorrow…
It’s not about Form. It’s about The Essence.
Mobility v/s Experience
What’s The Essence of Digital Banking?
Customer Experience and Contextual Customer Engagement.
Delight Your Customers.1
Be Faster Than The Fastest2
Business Agility and Operational Responsiveness
3Anytime Anywhere Business Ecosystem
Make Your Business Infinite
So, Bottomline. Are You DELIGHTING YOUR CUSTOMERS?
LET’S THINK… of experiences that do NOT delight.
“We need you to come to the nearest branch and submit all the documents.”
“We understand this is urgent. However, please note that our standard SLA is 24 to 48 working hours.
Our agent will contact you.”
“I cannot access that particular information right now. Can you tell us the reference number for your last open transaction?”
How do you Delight Your Customers?
You Need Guiding Principles
1. Delightful Customer Experience is about Process Experience.
2. Delightful Customer Experience comes from Contextual Engagement.
3. Customer Experience is not orthogonal to Operational Efficiency.
4. Value Chain is Out! Value Web is in!
Howdoes it all happen?
MEET Sarah. A Millenial.
PHARMACIST
LIKES TO
HAVE TIME
FOR HERSELF
DIGITALLY SAVVY
HAS PLANS FOR FUTURE
SHE NEEDS HOME LOAN She Contacts You Online.
SHE DOES WHAT SHE DOES BEST.
HUNTS LOANS ONLINE, COMPARES,
CHECKS WITH FRIENDS & FAMILY
AFTER ALL…
SHE ALREADY HOLDS AN
ACCOUNT WITH YOUR BANK
SHE EXPECTS A CAKEWALK.
BUT, NOTHING HAPPENS…
NOTHING HAPPENS FOR A DAY.
SHE IS ROUTED AROUND.
SHE IS REQUESTED TO SUBMIT DOCUMENTS AT THE BRANCH
HER PATIENCE WEARS THIN!
SHE WAITS, LOOKS AROUND FOR OPTIONS, MAKES CALLS.
SHE SWITCHES.
30 MINS…
WHAT SHOULD TAKE
TAKES DAYS!!
NAME, AGAIN?BTW, WHAT WAS HER
TO REMEMBER HER!SARAH, EXPECTS YOU
YES. RETAIL MORTGAGE LOAN IN 30 MINS.
AND, DID WE JUST SAY 30 MINS!?
PIECES OF THE PUZZLE
LIE UNDER THE HOOD
SHE GOES TO THE YOUR WEBSITE, DROPS A CASUAL QUERY ON YOUR FACEBOOK
PAGE.
SARAH EXPLORES. DROPS HINTS ON FACEBOOK.
1. DIGITAL SENSING! Tap Customer Sentiment
! Context Analysis
! Automated contextual Response
Hello Sarah! Thanks for being an awesome customer. We have customized offers for you. Your personalized Link:
Explore now!
Send Message
2. PROACTIVE ENGAGEMENT! Lending Process Kick-off.
! Customized Offers.
! Customer Data Integration.
Hello Sarah! Options for you based on your account history.
Select one or Talk to us!
3. LOAN INITIATION! Straight-through Processing
! Document Capture
! Image-assisted Data Entry
SARAH COMPLETES THE APPLICATION ON MOBILE
4. CREDIT AND ELIGIBILITY CHECK! Straight-through Processing
! Automated Business Rules
! Web-services based Integration
5. DOCUMENT VERIFICATION! Integrated DMS for Fast Retrieval
! Automated Doctype Detection
! Image Processing & Enhancements
SARAH RECEIVES REAL-TIME STATUS.
6. LOAN PROCESSING! STP / Automated Loan Booking
! Auto-generation of Loan Documents
! Automated Business Rules & Policies
SARAH RECEIVES CONFIRMATION & WELCOME DOCKET.
IN 30 MINS!
7. LOAN DISBURSEMENT! STP / Auto Credit & Funds Clearance
! Robotic Process Automation
! End-to-end Process Orchestration
SARAH RECEIVES FUNDS IN THE ACCOUNT.
…IT WAS ALWAYS
SO SIMPLE!
IF ONLY…
IN REAL WORLD, MURPHY STRIKES…
…OFTEN.
SARAH INITIATES APPLICATION ON TABLET
But, She gets distracted…
! CROSS-CHANNEL
! Sign-up without documentation
! Omni-Channel Loan Application Initiation
! Cross-Channel Loan Application & Servicing
Sarah initiates on tablet, fills out details on laptop, completes it on mobile.
Multi Channel. Multi Form. Multi Mode.
Digital = The Power of device
CIRCLE OF ENGAGEMENT
SARAH HAS A GOOD CREDIT SCORE. BUT, HER PROPERTY IS NOT REGISTERED.
! CASE MANAGEMENT! Case Folder
! Knowledge Worker Participation
! Ad-hoc Exception Handling
SARAH IS CONSULTED THROUGH THE PROCESS.
LEGACY STRIKES. SILOS OF SYSTEMS NOT READY FOR INTEGRATION.
THEN
! ROBOTIC PROCESS AUTOMATION! Automated scripts for Routine Tasks
! Automated Data entry
! Assisted Task Execution
ROBOTIC PROCESS AUTOMATION MOVES THE PROCESS ALONG.
SARAH FEELS SERVED. SHE IS A HAPPY CUSTOMER.
SARAH IS MORE THAN A CUSTOMER.
SHE IS YOUR ADVOCATE!
PARTNER WITH NEWGENWe help companies across geographies in their digital journey through our solutions in Business Process Management, Enterprise Content Management, Case Management, and Customer Communication Management.