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1Process Excellence & Digital TransformationSeptember 2014
Grain Loans
3000 years ago, the first Savings & Loans contracts where printed
on tablets. Clay tablets.
2
Bank of the Future
The drive to connect our world using cutting-edge technologies is
immense. Thus, the many projects of «Banking Point of Sales of the
Future».
Process Excellence & Digital TransformationSeptember 2014
3
2012 – 2014 : Present Tense.
Banks have tens of thousands of points of sales. Renewing thesebrick-and-mortar branches will take time and effort !
Being driven by our Bottoms Lines does not facilitate such atransformation.
Une
Banque
Process Excellence & Digital TransformationSeptember 2014
4
Digital & Operational ExcellenceA Digitalized Sales Process: Opening of Account
I. What are we solving ?
II. A theoretical answer.
III. A few tricks…
IV. For a nice result !
Process Excellence & Digital TransformationSeptember 2014
5
What are we solving ?First Contact between Customer and Bank.
I. It usually starts with a general discussion on products and fees.
I. Then followed by Customer’s decision to buy
• K-Y-C
• Documentations
• Signature
• First Payment
Process Excellence & Digital TransformationSeptember 2014
6
What are we solving ?Did my Customer like his first encounter with our Bank ?
Satisfaction Survey
Are you satisfied ?
Were you welcome ?
Is the product good ?
Emotional state
Was the meeting fun ?
Was I ripped off ?
Am I more happy now ?
Tedious, Intrusive, Accountability
Professional, but do I trust them ?
Complexe products, unclear pricing
BANK CUSTOMER
We can get better still
This Sales guy can get his bonus
Can we create better tailored products
PROCESS EFFICIENCY CUSTOMER EXPERIENCE
Process Excellence & Digital TransformationSeptember 2014
7
Bottom line,
Is there a way to be both more Fun and more Efficient in such a
sales process of a Bank account ?
Process Excellence & Digital TransformationSeptember 2014
8
Digital & Operational ExcellenceA Digitalized Sales Process: Opening of Account
I. What are we solving ?
II. A theoretical answer.
III. A few tricks…
IV. For a nice result !
Process Excellence & Digital TransformationSeptember 2014
9
A theoretical answerDIGITAL
I. A Digital solution has the potential of immediatness
• It allows stakeholders to play with cutting edge technologies,
giving a sense of being « fun »
• Gives the opportunity of multi-channelling
• Cost Per Act seems lighter than Paper Processes, hence
generating savings
• « Geeks » are a high net worth segment
Process Excellence & Digital TransformationSeptember 2014
10
A theoretical answerProcess Overview
I. Bank: KPIs do not fully measure Quality of ServiceTransformation Ratio
Incompleteness Ratio
Refusal Rate
Income Per Customer
• Customer: Focus on two « not fun » itemsOverall “1st meeting” 2“Card in Hand” time lapse is far too long
Not enough information given during this delay
Operational – Process Efficiency
Process – Targeting Efficiency
Product
ChoiceKYC
Docs. (ID,
payslips, etc.)
Signature
Iteration
Payment
(check)
Scanning
Indexing
Study by
Back-Office
Missing Documents
Re
fusal
Opening of
AccountAcquire
First
Payment
(check)
Manufact.
Card
Process Excellence & Digital TransformationSeptember 2014
11
>3
A theoretical answerCritical analysis: Existing Account Opening process (Paper)
I. Bank: KPIs do not fully measure Quality of Service
Transformation Ratio
Incompleteness Ratio
Refusal Ratio
Income Per Customer
• Customer: Focus on two « not fun » items
Overall time-lapse is too long
Not enough information given “follow-up” incoming calls ratio
<9%
>22%
>3,5%
CSP-
>3 w.
>2%
K.Y.C
Docs
Sign.
Iterate
B-O
Open
Scan.
Card
Pay
Process Breakpoints
Number of Actors
Number of Tools
Number of Modus Operandi
>10
>8
>15
Process Excellence & Digital TransformationSeptember 2014
12
A theoretical answerTransforming the Bank’s Sales Process : Digital
•Simulate & Compare:Gives a clear vision of pros and cons of each product
Funnels motivated customers, less inclined to quit mid-way
•Some Controls Points of Back-Office can be automatedAutomated verifications on standard national ID documents or even Payslips.
•Full digitalization of each and every step of the Sales processReducing “Missing Documents” drastically
Product
SimulationKYC
Docs. (ID,
payslips, etc.)
Signature
(digital)
Scanning
Indexing
Study by
Back-Office
Non-Compliant Docs
Documents
Re
fusal
Opening of
AccountAcquire
First
Payment
(check)
Manufact.
Card
KYC &
Docs. (ID,
payslips, etc.)
Iteration
Payment
(card,
transfer,
PayPal)
Process Excellence & Digital TransformationSeptember 2014
13
A theoretical answerWhat can we hope to achieve in terms of KPIs ?
I. Bank / Process Efficiency :
Number of Process Breackpoints
Transformation ratio
Incompleteness ratio
Refusal Rate
Net Income Per Customer
Number of Actors
Number of Tools
Number of Modus Operandi
• Customer / Customer Experience :
Overall time-lapse
Follow-up incoming calls ratio
>3
>3 w
>1,8%
<2
~3 d
<1,5%
<9% >11%
>23%
>3,5%
CSP-
>10
>8
>15
<12%
<3%
CSP+
- 4
- 3
=
Process Excellence & Digital TransformationSeptember 2014
Digital & Operational ExcellenceA Digitalized Sales Process: Opening of Account
I. What are we solving ?
II. A theoretical answer.
III. A few tricks…
IV. For a nice result !
Process Excellence & Digital TransformationSeptember 2014
15
A Few Tricks…Electronic Signature: A difficult decision
I. What is the opinion of our Legal Department:Electronic Signature does not guarantee Physical Identity
Courts have not yet evolved towards this new method
II. What is the opinion of our Risk Department:It is uncharted territory ; hence risk models are precarious
There is a Systemic Fraud Risk
III. What does our IT Department talks about?Simple Date-Stamps
Cryptographic Certificates
Vocal-Signature
Fingerprint, Retinal scan, Facial recognition, …
Process Excellence & Digital TransformationSeptember 2014
16
A Few Tricks…Uploading Documents: Easy? No.
I. Bank’s rules about which document to ask to which customer-
configuration, is not as clear as one might think
II. Back-Office will have to judge Conformity of documents based on
photographs and pictures
I. Bank’s management of Missing Documents is not automated, and can be
managed ad hoc, case-by-case
II. Hardware infrastructure of the Bank’s IT systems were not designed for
so many Gb being transferred at once
Process Excellence & Digital TransformationSeptember 2014
17
A Few Tricks…On-Line Payment: Traitor.
I. Regulation on First Incoming Payment is very strict.
• Texts still mention “checks” in many countries.
• There is a potential Money-Laundering issue.
• Adding a step with a «Reconciliation Account» in the middle creates new
problems
Process Excellence & Digital TransformationSeptember 2014
Digital & Operational ExcellenceA Digitalized Sales Process: Opening of Account
19
I. What are we solving ?
II. A theoretical answer.
III. A few tricks…
IV. For a nice result !
Process Excellence & Digital TransformationSeptember 2014
19
A Nice ResultApplicative Architecture
Public APP Private APP API
MIDDLE WARE
SOA: WEB-SERVICES (Java JEE, Scala, .NET, etc.)
INJECTIONDOCS &
SIGNATUREUPLOAD PAYMENT
CRM DB & DWH EDM CORE BANKING
Process Excellence & Digital TransformationSeptember 2014
FRONT-END
WEB SITES
DOCUMENTS (PDF)
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A Nice ResultExample of a Full Smart-Phone Sales Process : “Soon” app
Mes InfosPerso
My Identity
ok
Mes InfosPerso
My Home
ok
Locataire
Depuis le
Mes InfosPerso
My Income
ok
CSP
Mes InfosPerso
Subscribe
Buy
Je souscrisCompte
Sign
Sign
Je souscrisCompte
Pay
Process Excellence & Digital TransformationSeptember 2014
21
A Nice ResultBack-Office Efficiency
I. Back-Office receives only Complete Account Opening Requests, moreover
partially checked alreadyID documents, pay slips, can be partially checked by some automated tool
Question remains on Compliance of many uploaded documents
• During working hours, Back-Office receives immediately the Customer’s
RequestBack-Office becomes capable of opening the account 20 minutes after Customer’s click !
Often, the Customer has not yet left the Point of Sale, hence creating a “Wow-Effect
• Interaction with Back-Office can occur real-time, using chatExperience shows specific training and staff is required
• Scanning & Indexing is over-withThese tasks are taken care of at the source
Process Excellence & Digital TransformationSeptember 2014
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Digital & Operational ExcellenceThank you
Cédric Coiquaud
Digital Transformations – Sales Processes
Process Excellence & Digital TransformationSeptember 2014