Personalisation The future of banking
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
PersonalisationThe future of banking
2
My job at Barclays
• Transforming insight into solutions that are predictive, personally relevant and useful
• Understand the customer better
• Personalise the customer experience based on my knowledge of the customer
Testing and Optimisation | Barclays Digital Banking | Internal Use Only
BarclaycardwasthefirstcreditcardintroducedintheUK
1966
1st CREDITCARD
Life before digital banking is pretty slow
FirstDirect,theUK’sfirsttelephoneonlybankingoperation,tookitsfirstcall
19891st TELEPHONEBANKINGSYSTEM
ThefirstCashMachinesintroducedlate1960’s
1960s1st ATM
TheBankofScotlandofferedNottinghamBuildingSocietycustomersthefirsthomebankingserviceintheUKcalled‘Homelink’
19831st HOMEBANKINGSYSTEM
3
BarclaycardisfirstwithChipandPINtohelpfightfraud.20031st CHIP&PIN
Source: Intelligent Environment
RIMreleasedthefirstBlackberryemaildevices,byendof2009therewere32Msubscribers
2002 1st BLACKBERRY
4
Innovation picks up pace with more services online
20071st ContactlesspaymentcardBarclaycardissuedthefirstcontactlesscardsintheUK.
SteveJobsfromApplereleasedtheoriginaliPhoneinJune2007intheUS.
20071st iPhone
Launchedsimultaneouslyonthefourmostpopularsmartphoneplatforms–Android,Apple,Nokia,BB
Lloyds TSBLaunchesmobilebanking intheUK2011
LaunchedApril24th alongsideApplewatch–theappallowscustomerstokeepcheckoftheirfinanceswherevertheyare
BarclayslaunchesfirstbankingsmartwatchappinUKforiOS
2014
2017 What’s next?
5
What’s next - Delivering better customer experience Nunwood/KPMG
75% of packaged current accounts
Thebig4banksfailtodeliverexperienceexcellence Thosethatdelightcustomersstandtogain+14.2%revenuegrowth
6
The size of the of the customer experience prize is large
£3.7bn
Applying the rapid growth multiplier to the Big Banks forward forecasts, gets us……..
The customer experience dividend of
7
Personalisation is critical to this growth agenda
Mostworkdonebyorganisations onPersonalisation hasbeen‘insideout’• Insularview• Wewillselltoanyone• Onlyaboutexpandingthecustomerbase• Tailoringandconfiguringexperiences aroundwhatcompetitorsdo
‘Outside-in’ approachcreatesemotionalconnection
• Abouthowacompanysellsmore• Expandingthecustomerbase• Profitsaregainedthroughcost
andefficiency• Competitorsdoit,wemust
Personalisationhasthelargestimpactonadvocacyandloyalty
• Predictive• Anticipatingneeds• Usingexternalsourcesforenrichedexperiences• Customerknowledge isavaluable asset
• Respondingtoemotionalneeds• Customerloyaltyisappreciated• Profitsgainedfromsuperior
valueproposition• Weknowmorethanour
competitors
8
But we find it hard to understand our customer needs
LifestylePreferences
Identity Behaviour
Identity• Imogen Bishop• 29 Acacia Avenue, Tottenham• DOB: 15/12/1989
Preferences• Opted in for marketing• Offer preferences (Fashion, Travel)
Lifestyle• Uses cashback offers • Enjoys Traveling
Behaviour• Online grocery shopping• Uses Fitbit• Logs in daily to check balances• Uses her iPhone, iPad, MacBook • Searching for new home and considering buying
9
We also have other challenges around IT, Culture, Regulation and Security
PWC – Fintech Report
Thebig4banksfailtodeliverexperience
excellence
Engagingwiththerightteams
Businessneedsoftenchange
Projectsfunction insilos
Regulationdifferences– Incs vsFins
10
The clock is ticking, we have new kids on the block
“Ifthesenewkidscansuccessfullycombatinertia,atscaletheycouldblowtheincumbentsoutofthewater”
WarrenMead
GlobalHeadofFintech,KPMG
Thefreelunchisover!
11
The technology landscape is complex and ever evolving
Source:Gartner
Marketingtechnologyintegration
12
For us to reach our aspirations, a fundamental shift is needed
PUSH PULL
Canwechange?
Whatarethehurdles?
13Testing and Optimisation | Barclays Digital Banking | Internal Use Only
Q&A
Related Documents
