Banking: Service innovation is up!

Banks’ digital spend as percentage of total ad spend - Forrester

What customers want

Balance from different banks in one placeSpend categorisation Goal savingBudget toolAlertsPersonalisationOnline advising

Who sees it from the customer’s perspective?

FB fan page

Mobile app

Traditionalbanks

Newplayers

Spendcategorisation

CREDscore

Mobile payment

FB connect

PaperlessPersonal

Wisdom of crowds

Infographics

Photo cheque

Alerts

Who will own the relation?

Ease of use Service quality Fees Interests Convenience Quality of advice

Reasons for choosing the bank – Capgemini

Ease of useService quality Fees Interests ConvenienceQuality of advice

Reasons for leaving the bank – Capgemini

The low down: Digital

• The branch is the preferred channel for advice, but digital channels enjoy higher satisfaction

• Customers want data-driven features, more options, visualisation, and personalisation

The low down: Competition

• Competition in the digital channels is intensified – also from 3rd parties

• Social and and mobile channels are part of the marketing mix

The low down: Drivers

• 4 out of the 6 most important divers for changing banks are about the customer experience

• 2 of them are

about economy

To reach transaction objectives, relation objectives are crucial.

Customer experience

Customer experience = Growth

• Repeat purchases due to higher loyalty• Increased cross sales due to relationship

building• Increased customer intake through

mentioning in the marketplace and better image

• Decreased price sensitivity and reduced transaction cost

A positive and differentiated holistic experience in all touchpoints.

Customer experience

• Direct and indirect touchpoint mapping

• Customer journey mapping

• Investigate customers’ process, needs and perception

• Needs vs. MWR mapping• Define the experience in

every touchpoint across the organisation

• Adjust internal process