TouchPoint Customer-Centric Banking: Optimizing Customer Interaction Across Your Channels Michel Jacobs EVP New Solutions Strategy Scott Cramer VP Channels Product Management
Key Retail Banking Trends Got All Channel? Celent observes examples of end-to-end sales process implementation to leverage channels with sales ratios exceeding 10 percent. This requires multichannel management based on a customer-centric view across channels, products and services. Components of this strategy include CRM, branch and advisory services, multichannel delivery and account aggregation. Doing so takes the form of multiple, interconnected projects. Adoption of sophisticated CRM/CIM systems delivering a customercentric vs. account-centric view across all channels Investment in modern ATM solutions, particularly emphasizing the ability to deliver a personalized customer experience Improved Internet and mobile banking solutions 2
Creating a Superior Customer Experience Banking Evolution Over the Past 30 Years STRATEGY TO CUT COSTS: Move higher volume, lower value transactions from higher cost channels to lower cost channels Higher Private Banking Platform Value Per Transaction Call Center Teller Line Statement/Mail Internet & ATM/Kiosk APPROACH: Implement separate solutions to meet the needs of each individual channel Lower Lower Cost Per Transaction Higher 3
Economics Behind Online and Mobile 4
Were Banks Successful? Yes, they saved money per transaction Pushed many higher volume, lower value transactions out of the higher cost channels into the lower cost channels But...... The customer experience was compromised Dollars were spent adding channels, while existing channels atrophied High cost channels did not go away View of customer relationship became more disjointed Assisted channels lost the ability to cross-sell self-service customers Customer experience was broken and inconsistent across channels Opportunities for fraud increased 5
Did Not Result in Less Usage of Branch or Call Center and ATM for That Matter 6
Customer Centric view of Channels 7
Thinking About Customer Experience What role will customer experience play in your company s competitiveness over the next three years? The vast majority of banks across all geographic and market segments confirmed this as a primary focus. 8
Transactions Become Interactions... It is no longer just about executing customer transactions at a specific channel 9
Transactions Become Interactions... It is no longer just about executing customer transactions at a specific channel 10
Optimizing Customer Interactions It is about optimizing customer interactions within every channel 11
Enabling a Holistic Customer View It is about enabling a holistic view of customer relationships across all channels 12
Orchestrating Customer Interactions It is about orchestrating customer servicing interactions across all channels 13
Optimizing the Customer Experience It is about turning servicing transactions into selling interactions across all channels 14
Ensuring a Trusted Relationship... It is about protecting the bank and customer from fraud and risk across all channels 15
TouchPoint s Mission Deliver Solutions That Enable Financial Institutions to Ensure consistent, superior care for their customers across all touch points by: Streamlining processes within channels Orchestrating processes across channels Providing and leveraging a consolidated view of the customer Turning channel servicing transactions into single and cross-channel sales interactions Empowering users with data-rich reporting and performance management tools Supporting flexible deployment models to accelerate ROI and time-to-market 16
Challenge: A need to redesign the Retail Operating Model to streamline end-to-end business processes, provide a 360º customer view, and enhance sales tools and activities through integration of customer, account, marketing, transaction and sales systems Solution Implemented TouchPoint suite to deliver: Consistent customer experience across channels Display a 360º view of the customer relationship Enhance sales tools and tracking Reduce administration and operational functions Virtual paperless branch FIS Applications: TouchPoint Sales, Service, Deposit Account Opening, Teller, and cross-channel orchestration via TouchPoint s Xpress architecture FIS Applications: Teller and Back Counter Image Scanning Post Implementation Results 200 percent increase in existing households contacted 403 percent increase in opportunities 127.5 percent increase in daily sales per banker 50 percent reduction in forms 160 percent reduction in service action steps 375 percent improvement in customer deposit adjustments per 10K transactions Significant decrease in out-of-balance conditions Ability to eliminate couriers 17
Want to Hear More? Please Join Janet Simpson SVP, Future Bank Program Manager Client Conference Buzz Session Bank of the West: TouchPoint Implementation (Future Bank Initiative) Thursday, 9:00 a.m. 10:00 a.m. 18
TouchPoint All-Channels Solution Overview
TouchPoint All Channels Suite Channel Applications and Services Customer interaction solution that helps financial institutions enhance service and sales through all delivery channels TouchPoint s modularity allows for easy resolution of a single business issue or many at the same time. 20
Seamlessly Orchestrate Customer Interactions Within and Across All Channels Internet Banking Consumer Contact Center Agent ATM Machine Consumer 1 Customer is presented targeted marketing offer for a credit card... 2... and requests more information from an agent 4 Upon approval, notification is sent to the customer s preferred channel 3 Customer decides to apply 21
TouchPoint All Channel Optimizing and Maximizing Assisted Channels Holistic View of Customer Across Teller, Platform and Call Center Branch Teller Branch Platform Contact Center 22
TouchPoint All Channel Maximizing Existing and New Self-Service Channels Advanced Servicing and Cross-Channel Marketing of Targeted Offers Bank and non-bank customers Allows for customerspecific information and data to be used for: Targeted marketing Cross-sell Up-sell initiatives Third-party advertising ATM 23
TouchPoint All Channels Suite Solution View TouchPoint ATM TouchPoint Branch TouchPoint Call Center Online Mobile TouchPoint Banking Services and Processes Account Origination Marketer Cross-Sell ATM Teller Sales Service Xpress Integration Framework Systematics 24
TouchPoint All Channels Suite Integration Framework, Pre-built Banking Services and Processes TouchPoint TouchPoint ATM Consistency Branch Single 360 view of customer information Cross channel sales and service continuity Consistent customer experience across all channels ONE source for data (Multi-SOR integration) TouchPoint Call Center Online Use as building blocks Flexibility Empower business processes Mobile Enhance capabilities with less impact Transition solutions with less impact TouchPoint Banking Services and Processes Account Origination Marketer Cross-Sell ATM Teller Sales Service Reusability Faster / Cheaper development Reuse for any channel Consolidate integration Enable more automation Build once, use many times Xpress Integration Framework Speed to Market Bring new capabilities to market faster Leverage integration Leverage standards Reduced risk Systems of Record More controlled IT cycle 25
TouchPoint All Channels Suite Leveraging Breadth and Depth across FIS EFT ATM Acquiring EFT Debit GW/network EFT Card/prepaid TouchPoint ATM / any IFX ATM (NCR Relate) TouchPoint Suite Non-FIS Teller/S&S FIS and non-fis Online/Mobile solutions Item Processing Direct Suite Image Capture Endpoint Exchange Print/Mail EFT Switch TouchPoint ATM TouchPoint Teller TouchPoint ATM* Systematics FIS Decision Solutions (e.g., Account Opening, DepositShield) 26
TouchPoint All Channels Suite All-Channel Benefits to Financial Institutions Improve Efficiency Execution of transactions in an efficient manner Retain Customers Ensure optimal customer experience at every touch point Grow Wallet Share Cross-sell products to existing customers during interactions Increase Revenue Enable banks to generate (more) fee income Reduce Costs Reduce fraud and mitigate risk Value is in the ability to integrate and orchestrate customer interactions across ALL channels and NOT in just providing access to more functionality in one channel. 27
TouchPoint All Channels Suite Sample Client List 28
TouchPoint All Channels Suite Real-Life Customer Results Retention Through Cross-Selling? 850k teller referrals were successfully closed by other LOBs (one month) Financial needs analysis increased by 981 percent Referrals increased by 307 percent Cross-sell ratios increased by 41 percent Outbound telemarketing activity improved by 25 percent Cross-Selling to New Customers? Single integrated system Cross-sales at account opening increased by 133 percent Efficiency New account opening times reduced by 78 percent New associate training times reduced by 40 percent Servicing errors reduced by 25 percent Fee Income Fee income increased by 25 percent Costs Associated with Fraud Loss 100 percent elimination of missing AML data on new clients 29
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