Post on 19-Jan-2017
THE NEW DEFINITION OF SERVICE
MIKE KERSTENDAMIEN HAYES
CONFIDENTIAL2
MARKET DISRUPTERS OF THE LAST DECADE
© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL
MARKET DISRUPTERS OF THE LAST DECADE
© 2015 SAYLENT TECHNOLOGIES, INC.
3
FINANCIAL CRISIS
CONFIDENTIAL4
MARKET DISRUPTERS OF THE LAST DECADE
© 2015 SAYLENT TECHNOLOGIES, INC.
DATA AGGREGATION
CONFIDENTIAL5
MARKET DISRUPTERS OF THE LAST DECADE
© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL6
MARKET DISRUPTERS OF THE LAST DECADE
© 2015 SAYLENT TECHNOLOGIES, INC.
NEW CHANNELS
CONFIDENTIAL7
THE PROBLEM IS THAT MOST PRODUCTS DO NOT SUPPORT SERVICE STRATEGIES
© 2015 SAYLENT TECHNOLOGIES, INC.
Meh.
Most banks offer products that treat all customers the same rather than focusing on building products and service programs that respond to the unique behaviors of their age and lifestyle.
CURRENT STATE OF INDUSTRY PRODUCTS
Product designs do not reflect your strategic goals
Limited differentiation creates commoditization
Similar products create front-line sales challenges
CONFIDENTIAL
POLLING QUESTION
CONFIDENTIAL10
Conducted November 2014 Surveyed 1,200 consumers Consumers represented 3 groups:
lower mass market upper mass market mass affluent
Surveyed 400 small businesses
OUR SURVEY WITH INFORMA
© 2015 SAYLENT TECHNOLOGIES, INC.
NOTABLE RESULTS…
20% of millennials are currently shopping for a checking account
Millennials are 64% less likely than the overall market to prefer a product with overdraft coverage
75% of millennials bank with the same institution as their parents
88% of un/underbanked would pay between $5-$10 monthly for an account with no other surprise fees
CONFIDENTIAL
NOTABLE RESULTS…
63% of mass affluent would increase deposit balances to receive cash rewards on their checking account
Mass affluent have no statistical difference in preference between interest versus cash rewards (2.6% higher preference for interest)
97% of small business owners are satisfied with their current banking relationship
96% of small business owners with a credit relationship selected their bank based on credit rather than deposit or treasury services.
CONFIDENTIAL
NOTABLE RESULTS…
Consumers (including Millennials) at all levels are willing to perform “sticky behaviors” in order to receive rewards
All prefer monthly rewards. Millennials would switch to an FI with a product
that offered ATM fee refunds and online, mobile and debit card access with a low monthly fee.
CONFIDENTIAL
CONFIDENTIAL14
OUR CULTURE AND EXPECTATIONS HAVE CHANGED
© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL15
OUR INDUSTRY IS UNDER ATTACK
© 2015 SAYLENT TECHNOLOGIES, INC.
OVERVIEW
OUR MISSIONTO IMPROVE THE PROFITABILITY AND PRODUCT INNOVATION OF FINANCIAL INSTITUTIONS BY PROVIDING SMARTER, DEEPER, ACTIONABLE ANALYTICS ON THE FINANCIAL BEHAVIORS OF CONSUMERS AND BUSINESSES.
© 2015
SAY
LEN
T TE
CH
NO
LOG
IES
, INC
.
CONFIDENTIAL
Winner201220132014
America’s fastest growing private companies
CONFIDENTIAL
WHAT IS BEHAVIOR-BASED PRICING?
© 2015 SAYLENT TECHNOLOGIES, INC.
17
Customer/Account Incentives:
Interest rate adjustmentsCash backATM surcharge reimbursementsTransaction fee refundsService charge rebatesPointsAnnual bonusesMerchant specific discounts or credit
Deploying programs that drive customer behaviors based on incentives that motivate them
Reward for behaviors Banks wants:
DepositsAccount feesInterchange E-statementsLoan usageFinancial services relationshipPrimary relationship status (DD)
CONFIDENTIAL18
EXAMPLE PROGRAMS IN THE MARKET TODAY
© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL19© 2015 SAYLENT TECHNOLOGIES, INC.
EXAMPLE PROGRAMS IN THE MARKET TODAY
DEVELOPING YOUR BEHAVIOR-BASED PROGRAMS
CONFIDENTIAL
05/01/2023 21
INTEGRATION WITH CORE
© 2014 SAYLENT TECHNOLOGIES, INC. PROPRIETARY AND CONFIDENTIAL
FI’s files
Data ServiceRelational
Account360 Data FlowFI’s files
FI’s files
FI’s files
Customer Tables Staging Tables
Live Tables
Reward files Creating XML
Reward files Creating XML
ProfitabilityHousehold Keys
Etc.
Cash Back IncentivesFee Rebates
Interest Rate AdjustmentsSC Waivers
Core AccountsTransactionsMortgages
InvestmentsEtc.
Product PackagesProgram QualificationCustomer Messages
A PROVEN SOLUTION
Launched in 2010 thru Channel Partners
Installed at over 150 Financial Institutions
• Ranging from $50M to $30B• 5 Million accounts on A360• $100 Billion Total Deposits
Holistic view of the customer to include checks, ACH, debit, bill pay, direct deposit, eStatement, loans, etc.
BAI Best in Show
Best Midsize Bank
CONFIDENTIAL
CONFIDENTIAL
CONFIDENTIAL24© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL25© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL26© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL27© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL28© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL29© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL30© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL31© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL32© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL33© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL34© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL35© 2015 SAYLENT TECHNOLOGIES, INC.
CONFIDENTIAL36© 2015 SAYLENT TECHNOLOGIES, INC.
Launched new flagship account in March 2013. CNN award for Best Midsize Bank in 2013, due to A360-driven Checking account.
Program attributes:- Cash Back on Debit transactions- Balance and Estatement requirement- cash back on qualified transfers to savings- 5% annual savings bonus
Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-130
10,000
20,000
30,000
40,000
50,000
60,000
New Checking Accounts
# Ac
coun
ts
Best Midsize Bank
CONFIDENTIAL
ACCOUNT360 USE CASE: $22B ASSET BANK
ACCOUNT360 USE CASE: $7B ASSET FI
© 2015
SAY
LEN
T TE
CH
NO
LOG
IES
, INC
.
CO
NFID
EN
TIAL
CONFIDENTIAL
CAPITAL BANK’S METRICS/ROI
CONFIDENTIAL
THANK YOU FOR ATTENDING
How can we help your bank? Let’s schedule a follow up call and in-depth demo to see how Account360 can help your bank.
CONFIDENTIAL
AND THE WINNER IS…
CONFIDENTIAL
CONTACT INFORMATION
CONFIDENTIAL
Damien HayesSenior Revenue Consultant508.405.2017dhayes@saylent.com
Mike KerstenSales Director508.570.5023mkersten@saylent.com