Outside-In Digital Disruption
Digital penetration is increasing on every continent.
The sales potential of online and mobile channels is phenomenal.
Retail banks have made a first step towards a customer-centric approach in an omni-channel environment.
The most significant priorities for the consumer finance business based on the banks’ opinion on a scale from 1-7.
The scale of achieved targets for sales and service capability.
It is time to act now!
Be a Digital Disruptor: Think Outside-In
But banks are lagging behind when it comes to customer satisfaction and trust.
Customer demands shift towards a unified banking solution addressing individual aims across all channels.
Banks’ sales & marketing are becoming more intelligent...
Watch out: independent market players are stealing your most profitable customers
3,001,707,09932%
84%
21%
73.5% (in 2013) 72.9%
(in 2014) 4
54%
72.9%
??
8% 46%
56% of consumers distrust their banks 5
22%
North and South America
% population 1
Africa
Middle East
Asia
Australia
Europe
70%
Online
59%
Mobile
26.5%
Online
19%
Mobile
48.3%
Online
25%
Mobile
70.5%
Online
64%
Mobile
34.7%
Online
23%
Mobile
72.9%
Online
64.6%
Mobile
20142010 20132009 2012201120082007
3 Billion
2.5 Billion
2 Billion
1.5 Billion
1 Billion
Internet users in the world... and counting 2
was achieved through the ONLINE channel in 2013
was achieved through the MOBILE channel in 2013
For the year 2018 banks expect digital channels to be significantly important in terms of product sales:
Banks are fundraising innovation in channels above all else
Expected increase or decrease of innovation in 2014 compared to 2013
of the population worldwide have an active mobile-broadband subscription by end 2014
of the population in developed countries
of the population in developing countries 3
Following a solid improvement last year, the Customer Experience Indexfor retail banking declined in 2014.
of consumers believe that all financial institutions are the same 5
of mobile users have considered deleting the bank’s mobile app. 6
Mobile300
Web/Tablet102
Call Centre90
ATM48
Branch1.5
Predicted interactions 2016Want their bank to send a notice of irregular account activity or changes to account information via a mobile app.
have downloaded a banking app but do not use it.
Banks are using micro segmentation
Banks are using predictive analysis
have the capability of event based real-time marketing on the online channel
have the capability of event based real-time marketing on the mobile channel
of retail banks will have Big Data projects for collecting and using
unstructured information from digital channels within the next three years
230mil 42mil
PayPal users
Customer Experience Index
mobile transactions in 15 months (Starbucks)
10mil users on mint.com
1.2mil downloads of Outbank in the
app store
1,900 financial apps in the
iTunes App Store beginning with the
letter A 8
2014
2015
2016
Be customer-relevant
Pioneer new technologies
Provide a seamless customer experience
Enable contextual sales
Turn mobile into your #1 sales channel
Sources: 1. The World in 2014: ICT Facts and Figures, Internetworldstats 2. Internetlivestats3. The World in 2014: ICT Facts and Figures4. World Retail Banking Report 2014 - Capgemini and Efma
5. Global Consumer Banking Survey 2014 - Ernst & Young6. A survey of Mobile Banking consumer experiences - Varolii Cooperation7. King, Brett (2013) Bank 3.08. PayPal, Starbucks, mint.com, Outbank, iTunes App Store
7 7
5.97 5.915.66 5.59 5.55
6 6
3 3
5 5
2 2
4 4
1 1
Gro
w re
venu
es
Imp
rove
cus
tom
er s
ervi
ce
Imp
rove
loya
lty/
rete
ntio
n
Incr
ease
co
st e
ffici
ency
Ext
end
cha
nnel
ra
nge
and
feat
ures
4.17Multichannel
service4.09
Multichannel sales
(existing cust.)
3.28Multichannel
sales(new cust.)
Simple products
Complex products
5.89
4.78
5.53
4.13
4.42
3.87
5.10(Channels)
4.79(CX)
4.61(Products)
4.52(Sales)
4.28(Processes)
IncreaseDecrease
65%5%
58%6%
86%1%
78%1%
70%3%
58%
43% 28%
68% 86%
(1=very low, 7=very high)
(1=very low, 7=very high)
(1=very low, 7=very high)
(1=very low, 7=very high)
Estimated interactions per consumer 7
Only 9.2% of sales
Only 1.1% of sales
Find out more about Misys FusionBanking Essence Digital
www.misys.com/digital
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