TouchPoint Customer-Centric Banking:
Optimizing Customer Interaction Across Your Channels
Michel Jacobs
EVP New Solutions Strategy
Scott Cramer
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
customer-centric vs. account-customer-centric view
across all channels
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
Statement/Mail Internet & ATM/Kiosk Call Center Teller Line Higher Lower Lower Higher Value Per Transaction
Cost Per Transaction
APPROACH:
Implement separate solutions to meet the needs of each
individual channel
Platform
Private Banking
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 channelsBut ...
... 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… Did Not Result in Less Usage of Branch
Customer Centric view of Channels …
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
It is no longer just about executing customer transactions at a specific channel
Transactions Become Interactions ...
It is no longer just about executing customer transactions at a specific channel
It is about optimizing customer interactions within every channel …
Optimizing Customer Interactions …
It is about enabling a holistic view of customer relationships across all channels …
It is about orchestrating customer servicing interactions across all channels …
Orchestrating Customer Interactions …
Optimizing the Customer Experience …
Ensuring a Trusted Relationship ...
It is about protecting the bank and customer from fraud and risk across all channels
TouchPoint’s Mission
Ensure consistent, superior care for their customers across all touch points
by:
Deliver Solutions That Enable Financial Institutions to …
•
Streamlining processes within channels•
Orchestrating processes across channels•
Providing and leveraging a consolidated view of the customerSolution Post Implementation Results
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 …
• 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
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• 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:
Please Join
Janet Simpson
SVP, Future Bank Program Manager
Client Conference Buzz Session
Bank of the West: TouchPoint® Implementation
(Future Bank Initiative)
TouchPoint “All Channels” Suite
Channel Applications and Services
•
Customer interaction solution that helps financial institutions enhance service and salesthrough all delivery channels
Customer decides to apply …
3
Contact Center Agent
... and requests more information from an agent …
2
Seamlessly Orchestrate
Customer Interactions
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Within and Across All Channels
Internet Banking Consumer
Customer is presented targeted marketing offer for a credit card ...
1
ATM Machine Consumer
Upon approval, notification is sent to the customer’s preferred channel
Holistic View of Customer Across Teller, Platform and Call Center
TouchPoint All Channel
Optimizing and Maximizing Assisted Channels …
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• Bank and non-bank customers
• Allows for customer-specific information and data to be used for:
–
Targeted marketing–
Cross-sell–
Up-sell initiatives–
Third-party advertisingAdvanced Servicing and Cross-Channel Marketing of Targeted Offers
TouchPoint All Channel
Maximizing Existing and New Self-Service Channels …
TouchPoint “All Channels” Suite
“Solution View”
Xpress Integration Framework
Sales Service Teller Cross-Sell Marketer ATM Account Origination
TouchPoint Banking Services and Processes
Systems of Record Mobile TouchPoint Call Center Online TouchPoint Branch TouchPoint ATM
TouchPoint “All Channels” Suite
Integration Framework, Pre-built Banking Services and Processes
Consistency
•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)
Flexibility
•Use as building blocks
•Empower business processes
•Enhance capabilities with less impact
•Transition solutions with less impact
Xpress Integration Framework
Sales Service Teller Cross-Sell Marketer ATM Account Origination
TouchPoint Banking Services and Processes
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Reusability
•Faster / Cheaper development
•Reuse for any channel
•Consolidate integration
•Enable more automation
•Build once, use many times
Speed to Market
•Bring new capabilities to market faster
•Leverage integration
•Leverage standards
•Reduced risk
FIS and non-FIS Online/Mobile
solutions TouchPoint ATM
/ any IFX ATM (NCR Relate)
TouchPoint Suite Non-FIS Teller/S&S EFT ATM Acquiring
EFT Debit GW/network EFT Card/prepaid
TouchPoint ATM
TouchPoint ATM TouchPoint Teller
TouchPoint ATM*
TouchPoint “All Channels” Suite
“Leveraging Breadth and Depth across FIS”
EFT Switch
Item Processing Direct Suite – Image Capture
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.”
TouchPoint “All Channels” Suite
All-Channel Benefits to Financial Institutions
TouchPoint “All Channels” Suite
Single integrated system
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?
• 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
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