eFinancials 2013 - Wilfried Dudink - Level 3 Communications

Deliver a Great Online Customer ExperienceWilfried Dudink, Product Marketing Manager – Cloud Services EMEA

2© 2012 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

How The Market Is Changing

Where are they now?

Building Society Entrants:

By 2008, every building society that floated on the stock market had either been sold to a conventional bank, or been nationalized…

Market Transformation

Online Banking

Cloud Computing > Componentization of Mainframes



New Direct Competition

Fragmentation - New ‘Lite’ Competition

PayPal – Card Payments

EVI – Online investment

Western Union – Global Money Transfer



Local branch conversion to virtual branches

Mobile push as smartphones reach exceeds 50% of the population

(Private) Cloud expansion

Analytics

• Financial background – Risk assessment and buying behaviors

• Customer behavior & wishes (Loyalty programs & tailored services/products)

Banks are changing their business model


How The Analysts Predict The 2013 Market Place

• Security and Data Loss Prevention will rise in the CIO heat map to rank in the top 3 priorities as first mobile malware scandals hit EMEA

• Banks will begin to make greater use of new [private] cloud-based opportunities to reduce operational costs and increase efficiencies

• An increasing number of service-affecting IT systems failures will occur, with institutions battling to keep existing legacy platforms functioning in a continued climate of budgetary constraint.

IDC Financial Insights


What are the Drivers Retail Banks Face Today?

Customer Experience

In Branch / Online Technology

Online Competition


What are the Drivers Retail Banks Face Today?

Successful customer experience results in customer loyalty, and also in customer acquisition as they will refer friends and family.

Customers know banks hold vast amounts of information on them, and would like that data to be transposed into tailored, personal products and experiences.

Customer Experience

The generation ‘Facebook’ expect to be able to do ‘everything’ from their mobile device FAST

And they like to share their good /bad experiences even faster….


In Summary, Retail Banks Need To:

“Provide a secure, tailored, FAST online experience to its customers in order to retain them, which will cultivate customer advocacy, and so aid the migration of in branch customers to online.

At the same time they need to provide a fast, holistic interactive virtual branch experience to the customers who don’t migrate online, in order to compete against new competitors.“

They will do this by:

Breaking up their legacy systems into agile components to help serve up data faster, and create composite solutions. For example the development of new wealth management features for affluent customers

Using the data they currently have, and gather via transactions, to personalise the online experience and products they provide to customers.

Providing fast loading online User Interfaces that don’t suffer load speeds during peak periods.

Providing a DDoS security strategy that allows for continued fast access even during an attack.

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Expectations and Realities


© 2012 Level 3 Communications, LLC. All Rights Reserved. Proprietary and Confidential.

Providing fast loading online User Interfaces

Mobile Load versus User Expectations

74% of users say they’ll bounce after waiting 5 seconds for a mobile site to load

How is mobile different?

Reduce as many ROUNDTRIPS as possible

Reduce PAYLOAD as much as possible

DEFER as much as possible

PARSE as little as possible

How does this translate to mobile?

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Distributed Denial of service (DDoS)

A malicious attempt to make a computer resource unavailable to its intended users. Attackers try to prevent an internet site or service from functioning efficiently or at all, temporarily or indefinitely

The Reality of Attacks

7,000 attacks happen every day

Free and DDoS for hire sites

$67 a day to rent a botnet - an ad hoc computer network used to amplify attacks

Attacks are increasingly more complex

Social Media gives attackers a communication platform

When, Not If, You’re Attacked

*Forrester® Consulting, The Trends and Changing Landscape of DDoS Threats and Protection**Forrester® Consulting, DDoS: A Threat You Can’t Afford to Ignore, January 2009.

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Challenge: Weighing Risks

Expense of Mitigation SolutionsI want to be covered but we have limited staff and budget.

It takes only ¼ of a second to lose a customer.

Damage to Our BrandIf our site is down, customers question if we can be trusted and are a safe place to shop – ruining years of work to build our brand.

For every 1% variance in brand equity, there’s a corresponding 1% variance in stock return

Bad Customer ExperienceCall centers get overwhelmed and customer frustration skyrockets when our site is down.

Customer Service impact from an attack can last 4-6x longer than the attack.

Loss of RevenueWe do the majority of our business online. If our website is down, we lose revenue.

The Financial Impact of a DDoS Attack runs $100K/Hour


Web Acceleration

Web acceleration is best described as a content ‘turbo charger box’ that sits on the server side and pushes out content that is consumed in a web browser at significantly increased speed.

It can be used in conjunction with CDN to provided even faster content delivery, or as a stand alone product.

Delivering A Great Customer Experience


Content Delivery Network

Content Delivery Networks (CDN) replicates a banks data and/or content across multiple Level 3 data centers over the pre-defined region (GB, EMEA, APAC, Global..etc).

This means that when an end user makes a web browser request for information, it is drawn from the server set closet to the customer, so reducing data travel and so time lag.

An additional benefit, is during times of peak demand for content, it is able to balance the demand across multiple server sites so ensuring data delivery scalability and availability.

Bringing The Data Next Door


DDoS Security

The Level 3 DDoS (Dedicated Denial of Service) security solution is designed to help combat the effects of a hacker trying to flood a server with data requests in order to bring it either down, or hide their hacking activities in the background.

The Level 3 solution is designed to work during an attack, by essentially transposing data requests through VPN’s targeting the bad requests from genuine, and thereby helping to enable the server to stay online and in use..

Keeps The Pipes Clear


Conclusion

Key Feature Process Benefits Customer Understanding Operational Benefit

Ensures continued up time and access during a DDoS attack

Keeps connectivity speeds up at accepted levels

Customers feel secure and stay loyal

Protects against loss of brand value

Data Speeds approx. twice as fast

Encourages more online use, and less in branch need

Happy online customers are more loyal and recommend customers.

Significant reduced customer service cost

Reduces the distance between the content and the customer

Use as your delivery network – removing burden on legacy environments

Gives the customer a seamless experience

Reduces TCO of internal systems, and adds flexibility


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