secret for success in retail banking - connected and automated from lead to sale

Connected & Automated: From Lead to Sale

Alex KwiatkowskiSolution Marketing Strategist – Banking & Digital Channels

2© Misys 2015 2 May 2023

Covered in this presentation

•The secret for success in retail banking;•Why achieving a balance between service and sales is of mission-critical importance;•How personal financial management (PFM) can uncover ‘hot’ sales leads;•How advances in technology are eradicating the issues of the past when it comes converting leads into revenue;•What steps banks should take to gain tangible operational and financial benefits.

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The secret for success in retail banking

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Improving the customer/bank relationship

Source: Capgemini

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Whoa!

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A hurried tactical shift from sales to service

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How will retail banking’s development be funded?

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Who is required to pay for banks’ ambitions?

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Acceptable vs. Unacceptable

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Catering to the financial needs of today’s ultra-connected consumer

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Reaching a captive audience: it’s a generational thing. Or is it?

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Sales and service objectives must coexist

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7.005.97 5.91 5.66 5.59 5.55 5.40

4.72

How important are the management priorities for your bank’s business?

1 = Very Low / 7 = Very High

n = 32Source: Efma

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Taking a balanced approach to sales and service

47%

19%

13%

22%

Balanced approach to existing and new to bank customersMore focus on existing bank customersMore focus on new to bank customersDon’t Know

What is the sales focus of the bank?

n = 32Source: Efma

Rating

Multichannel service 4.17

Multichannel sales (existing cust.) 4.09

Multichannel sales (new customer) 3.28

To what extent have you achieved your ultimate objectives for sales & service capability?

n = 54Source: Efma 1 = Very Low / 7 = Very High

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Making extended use of digital channels

How important do you expect digital channels to be for product sales in 2018?

Channel Simple ComplexOnline 5.89 4.78

Mobile 5.53 4.13

Telephone 4.42 3.87

1 = Very Low / 7 = Very Highn = 78Source: Efma

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Investing in innovation to improve Sales performance

Produc

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Custom

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and e

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Sales a

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arketi

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Proces

ses

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

65%

86%78%

58%

70%

5% 1% 1%6% 3%

IncreaseDecreaseNo ChangeDon't Know

Do you expect to increase or decrease the level of innovation in 2014 compared to 2013?

n = 110Source: Efma

Function RatingChannels 5.10

CX 4.79

Products 4.61

Sales 4.52

Processes 4.281 = Very Low / 7 = Very High

How do your rate your bank’s innovation level?

n = 32Source: Efma

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Develop new products based on deeper customer understanding

58% of surveyed* banks are using micro segmentation

68% of surveyed** banks are using predictive analysis

*n = 39Source: Efma

**n = 41Source: Efma

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Making effective use of information to gain insight and drive revenue

Segmentation reports

Marketing campaigns

Transaction data

Interaction data

CI DW/DM

Clickstream data

Customer satisfaction data

Social data

Unstructured repository

EDW

Unified Access Layer

Next best action

Volume

Variety

Velocity

ValueContextual marketing

(100x better)

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Reducing friction and increasing speed with…

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Taking maximum advantage of event-based and contextual marketing

Contextual marketing is about deliveringthe right message, to the right person, viathe right medium at the right time

Yes No Don't Know0%

10%

20%

30%

40%

50%

60%

70%

43%

53%

5%

28%

65%

8%

Online channelMobile channel

Does your bank have the capability for event-based, real-time marketing?

n = 40Source: Efma

Misys FusionBanking Essence Digital

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Getting everything right with advanced PFM capabilities

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“Simplicity is the ultimate sophistication”

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Customers must receive an experience which is relevant and personal

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Maximizing revenue generating opportunities

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Exploiting advances in technology to dramatically improve the sales process

r = 80 m

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How will banks find success?

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•Improving the overall customer experience does not have to occur at the expense of generating additional revenue;•Banks will achieve success by balancing sales and service activities;•STP helps reduce friction and increase speed, benefiting both bank and customer alike;•PFM should be sophisticated and simple in equal measure;•Advances in technology are dramatically transforming sales processes.

In summary

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Alex KwiatkowskiSolution Marketing Strategist – Banking & Digital Channels

alex.kwiatkowski@misys.com