Next Best Action in Banking from Accenture & Avanade

© 2015 Avanade Inc. All Rights Reserved.

Building customer trust and profitability using next-best action in banking

Customer Analytics & Insight


Changing customer behavior is influencing banking changes

Personalized Care

“I want my bank to give me the answers to my needs.”

“I expect my bank to engage with me where I spend time.”

Omni-Channel

“I am willing to try banking alternatives.“

Willingness to Switch

want their bank to proactively recommend products and

services for their financial needs

51%of millennials would be likely to bank

with non-financial services company with which they do business.

72%More than 80% of banking

customers bank online at least once per month

80%


How can banks capitalize on this change?

B U S I N E S S G O A L S

S T R AT E G I E S

Increase Share of Wallet

Increase Customer Loyalty

An indispensable partner in the daily lives and businesses of your customersBecome the Everyday Bank

Compelling product & service ecosystem

Offer personalized financial care

Hi Kathy!

!Become truly omni-channel

Decrease Cost of Service

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Banking leaders are becoming Everyday Banks

Commonwealth bank of Australia launcheda mobile app that generated 110,000 customer downloads enabling multiple channel payment and information services.

American Express increased customer acquisition rate by 50% Card holders benefits from personalized merchant deals by linking their card with Facebook, Twitter and Four Square.

State Bank of India has embarked on pioneering program to build next generation branches that transform the customer experience, including remote experts that can be reached instantly via high-definition videoconferencing.


The stakes are high!

By 2020, more than 30% of banking revenues could be at risk thanks to new competitors and new trends

55% of banking customers who want proactive banking services say that such services would strongly increase their loyalty to the bank


The Everyday Bank takes full advantage of everyday insight

Achieving the Everyday

Bank

Leverage everyday insight: form a broad, deep, and holistic understanding of customers from internal and external sources

Apply everyday insight: turn insights into proactive, personalized and appropriate recommendations actionable during any customer interaction

Engage with customers on what matters most to them and on their terms

Test and Learn: Track and analyze next-best action results and use understanding to further refine strategies and actions.

What Banks Must Do: Change to the Customer Relationship:

Proactively advise customers on actions to improve their financial health and focus on needs correlating with life-changing events

Personalize experiences across any interaction and any channel.

Understand what different consumer profiles value - and be prepared to deliver it


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Turn challenges into opportunities with Accenture and Avanade

Our approach to the Every Day Bank: Insight and context allows you to enhance every interaction

Engage customers with intuitive recommendations garnered by moving beyond traditional marketing

Leverage your existing infrastructure – surround and enhance inflexible systems

Provide simple to use tools that are also easy to implement

Enable constant improvement through easily accessible refinement tools

It’s difficult to determine customer needs with: Inaccurate customer information

and lack of context

Lack of prescriptive processes

Single-channel or disparate communication methods

Single-product or single-focus business units

© 2015 Avanade Inc. All Rights Reserved. 8

Achieving the Everyday Bank

Customer Analytics & Insight for Microsoft Dynamics CRM

Leverages leading customer analytics tools to create actionable insight

Enables real-time insights to drive decisions and reactions to your customers most pressing requests

Delivers an omnichannel experience by enabling recommendations across any channel

Provides multiple deployment options to support most bank systems environments and strategies

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INSURANCE

Avanade’s architecture, technical and integration services

Microsoft’s enterprise technology & solutions for banking

Accenture extensive banking and analytics expertise and insight.

Solution harnesses the Power of 3


We offer a comprehensive platform for delivering differentiated value

Transform customer data into holistic customer insights

Turn insights into actionable predictive

recommendations

Enable recommendations to be consumed across any

channel system

Harness integrated services to enhance

customer interactions

CUSTOMER ANALYTICS REAL-TIME DECISION ENGINE

INTERACTION SERVICES

OMNI-CHANNEL INTEGRATION

Customer Analytics Record Next-Based Action

APIs

Cross-ChannelOrchestration

A comprehensive platform for enabling next-best action with Microsoft Dynamics CRM

Marketing Services

Sales Services

Care Services


We can enable you to dramatically enhance common customer interactions

Delivers a personalized message on mortgage offer to preferred channel.

Builds a profile of the customer to determine targeted offers and actions.

Suggests customer speaks to a specialized agent to help with mortgage selection.

Recommends local real-estate services and presents services via personal loan portal.

Provides customer with value-added services that are appropriate and convenient.

The Everyday Bank….

Evaluates demographics, preferences, and predicts needs to recommend offer.

Aggregates customer data from internal and external sources and creates a household record.

Understands customer’s current and past activity to recommend next best service action.

Recognizes customer’s progress on loan application and recommends value-added services.

Evaluates recommendations and results to refine process and enable an improved experience for the next customer.

Our Solution…

Imagine long-time customers seeking a mortgage for a new home


“With the right strategy and level of commitment, banks in developed markets stand to double their annual revenue growth rates and lower

their costs to serve by more than 20 percent”- Accenture Banking 2016 paper

Tomorrow starts today

Our customer analytics and insight solution is designed to help you:

Engage with customers on what matters most to them

Proactively advise them on actions to improve financial health

Personalize recommends across any interaction and any channel


Get started today!Discover more about Accenture/Avanade services

Explore how we can help you enable next-best action

Request personalized on-site briefing

For more information, visit www.avanade.com

http://www.accenture.com/

http://www.avanade.com/smartbanking

Next Best Action in Banking from Accenture & Avanade

Technology

Transcript of Next Best Action in Banking from Accenture & Avanade