NetFinance, Miami, April 29th 2014
mBank: the most design-drivenDIGITAL bank in the
worldMichał PanowiczManaging Director | Products, Marketing & Digital
1.Introducing mBank
3
New mBank gained global recognition for banking innovation6 top global awards in 14 months
London
ParisDigital & Mobile Excellence#1 out of 130 projectsMost Disruptive Innovation#1 out of 330 projects
2013Innovation
Awards
158 biggest banks56 countries330 project
New York
4x Golden Banker2014 Bank Innovation
4
The biggest innovator in banking
Customers:
Fidor Bank
0.06 M
Simple
0.1 M
Moven
~0.01 M
mBank
4.4 M
2.Customers want US to change…
First online banking svcs in the 90s
AD 2014
8
Just 1 year ago we were still deep in TABLE-BASED BANKING
9
Meanwhile Digital Life Has Become SO MUCH MORE
Intuitive
ContextualInteractive
IntelligentBeautiful
Apple
Amazon
GoogleSpotify
Mint
MobileAndroid
10
► State-of-the-art user interface
► 2nd-gen personal finance management
► Video banking► Google-like quick search
► Gamification► P2P payments► Facebook
integration
► 2nd gen mobile application: user interface, LBS, selling, deals, PFM, P2P
► Mobile payments
“New” mBank: 11 major digital financial innovations
11
Over 600 final UI/UX models
(over 2000+ draft models)
2.9 M
0.16 M0.44 M
0.6 M
Core team: ~200FTEsat peaks: ~300FTEs+
Large scale change mgmnt program
mBank PL
mBank SKmBank CZ
Completely redesigned online banking in just 14 months… >200 new features
3.5M customers covered by now
Former MultiBank PL will merge by end 2014
Jan
3.mBank’s online banking
13
Organic adoption of new services growing fast% of clients who log in to the new mBank
INNOVATION ADOPTION ATTITUDE:
innovators
early adopters
early majority
late majority
laggards
Aug '13 Sep Oct Nov Dec Jan '140
20
40
60
80
100
18 25
32
45
69 71
14
Landing page
15
Account balance forecast
16
Quick „Google-style” search
17
Payments calendar
18
2nd generation PFM: features blended into core scenarios
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Videobanking: video, voice, chat, real-time collaboration
20
Financial products market providing eCommerce-like experience
21
Quick loan application available on main screen of online banking
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Three simple steps to obtain a non-mortgage loan in online banking1. Determining amount and tenor
3. Loan available in less than 1 minute from starting the application
2. Confirming terms and conditions
23
Personalized real-time targeted offers based on customer behavior patterns
~20 types of messages spread across the platform
24
Contextual advisory, real-time targeting, online advertising
25
P2P payments: Facebook, text, mobile
26
Merchant-funded deals, payments marketing (mOkazje)
27
Gamification: integrated into online banking
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New features in 2014: investments
29
Investments: simple and interactive way of investing in mutual funds
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Investments: quick search across funds’ attributes
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Investments: overall portfolio performance
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New features in 2014: consumer balance sheet summary
external account aggregation
33
New features in 2014: loans – all types
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New features in 2014: insurance – (almost) all types
35
New features in 2014: international expansion to CZ and SK
36
New mBank available in Czech Rep. and SlovakiaLaunch in Feb 2014
• For early migration to new IB signed up 40,510 customers (7% of total number of CZSK customers)
• In total we recorded 11 tutorial video which have been viewed by 44,640 viewers (~2x more views than tutorials for Polish NmB)
• Awarenes about change to new IB among CZ clients is 80% (according to survey in old IB)
• The first spot „Financial me“ has already over 48,000 views on YouTube and became the most successful video on CZ mBank profile
LAUNCH CAMPAIGN HIGHLIGHTS [actual for 07.02.2014]
and more…
400 and over 200 features
over
screens
4. mBank’s mobile banking
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mBank in >20% mobile bank now. 104% growth in 6 wks.
Growth in logins by 104%Avererage monthly logins in old apps – 9,5 while in new apps – 33Share of mobile logins raised from 9,5% to 18,3%
Jan Feb Mar0%
5%
10%
15%
20%
Total in mobileNew mBank APPPrevious mBank APP
40
1. convenience – instant gratification
Mobility
1Simple login
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What most popular services do is a no-no in bankingULTIMATE CONVENIENCE… COPIED IN BANKS WOULD LAND US IN JAIL
43
mBank: always one step ahead of competitors
How long does it take to log in?
5 s
30 - 60 s
5 s 30 s
other banks
login & password
PIN bal. payment / bill pay / money transfer
44
Quick and easy access via 5-8 digit PIN
Mobile device has to be connected with customers’ account via internet banking platform
45
Mobility2
Usability before login:▸ balance▸ alerts▸ credit card
balance▸ mOkazje▸ ATMs
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Most important information accesible pre-login
Account balance (PLN or %), places near me
Credit card limit (PLN or %) Important information
And more: merchant funded offers – mDeals, information about technical breaks, special marketing offers
Demo: mobile login
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Mobility
2. mobile redefines business model
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Mobile means completely redesigned business modelFacebook & Google example
230 second loan
51
mBank: always one step ahead of competitors
ABC of credit risk management
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mBank: always one step ahead of competitors
A. banking standard
ABC of credit risk managementB.
innovativeparabanks
C. mobilemBank
Hours (branch)
26%* 3879%*900 sec. 30 sec.
26%**fully APR equivalent, includes fees
Design-driven change management
Loan process in 30 s?
Organisational change
BusinessITRisk management
LegalCompliance
SecurityAuditSupervisor
ZBP
Others
54
Impossible process? We just did itLOAN IN 30 SECONDS ?
WTF ??!!
Demo: one-click loan
56
Additional money in just 30 seconds via one-click loan application
Money bar with individual credit limit One-click loan application
57
Mobility
3. taking the bank out of banking experience
3Text message payments
59
Real-time communication with customers - unique feature in Poland
Textpaymen
tsMobile context needs text messaging
Demo: other cool features
61
Extended transactional scenarios: PFM features
Transaction list: Google like searchTransactions categorization
62
New and simple all money transfers
Re-build address book with searching through historical payments.
Re-designed payment form.
New authorisation method – PIN code.
63
Location based services
The nearest useful places(ATM, branch, discounts)
Map view Real time notifications near useful places
5. Change to innovate
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We were just like most other banks: PRETTY SILOED
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We were just like most other banks: PRETTY SILOED
67
We needed to change to deliver a BIG job
Break silos:
:Non-standard motivation
Core value: Collaboration
Freedom & Accountability
:
:Dedicated location
Team of 200
1.6 million lines of code50k test conditions
200 innovative features1700 screens
All products & services
30M Euro budgetJust 14 months
4 million customers3 countries
Corporation not startup
68
Break silos: creativity flourishes on diversity, commitment on inclusion
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Dedicated location: fresh start for teams and unequivocal focus
70
Freedom & accountability = Ideas…. Organized in coherent direction
71
Non standard motivation: e.g. grass-roots „Say Thanks”
72
Collaboration: x-functional teams with balanced decision-making
73
UX evangelisation and balance between 3 professions
BranchOnlineMobileDigital first
NetFinance, Miami, April 29th 2014
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