Enhancing the Customer Experience with Consumer eBanking ...empower1.fisglobal.com/rs/650-KGE-239/images/607 Enhancing the... · Enhancing the Customer Experience with Consumer eBanking

Enhancing the Customer Experience with Consumer eBanking (CeB) and Mobile May 24, 2017

James Kaster, Product Manager

Anne Konop, Product Manager

Topics

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• You’re Not Alone: Digital Perspective Across Industries

– Behaviors

– Experiences

• CeB

• Mobile Banking

You’re Not Alone: Digital Perspective Across Industries

Behaviors


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• Seismic shift from physical to digital

• Consumers exercise these behaviors across all industries

• What’s happening in 3 spaces:

– Travel

– Retail shopping & malls

– Car buying

• The shift to digital

– Research

– Convenience

– Advice

– Follow-up

Behaviors – travel


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• 10 notable jobs going away, among them:

– Tellers: 8% decline through 2024

– Travel Agents: 12% decline through 2024

• Why?

– Self-service is preferred

– Anytime bookings

– No high-pressure sales

– Travel providers make it easier

Advice in the form of:

– Comparisons

– Recommendations

Purchase and delivery

Source: Cheat Sheet 1/7/2017 http://www.cheatsheet.com/money-career/middle-class-jobs-gone-soon.html/

Behaviors – retail shopping and malls


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• Headlines

– Forbes: “Roughly 90% of all retail is still done in physical stores. Yet the growth of e-commerce will continue unabated

and the resulting drop in store traffic is an undeniable and unrelenting force.”

– Decline is enough to hurt profit margins and precipitate store closings

– Store closings hurt mall traffic and accelerates other store closings

• Why?

– Time & money savings

– Easier shopping online

– No longer necessary to touch/feel merchandise


– Advice: Savvy consumers research & read reviews

Source: Forbes 2/16/2017 http://www.forbes.com/sites/stevendennis/2017/02/16/what-if-retail-traffic-declines-last-forever/#6bf2585151a1

Ycharts 2/17/2016 https://ycharts.com/indicators/ecommerce_sales_as_percent_retail_sales

Behaviors – car buying


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• Like retail shopping, car buying behaviors shift to online

• eBay survey1:

– 63% likely to buy online

– 87% use the internet to research

• “That didn’t suck2”

– “A better way to buy a car” – research, shop and buy online

– Both raises the bar and sets minimal threshold

– Taglines influence expectations across all industries

• Why? (the theme repeats)

– Time & money savings

– Easier shopping online


– Advice: Research & read reviews

– Follow-through: Purchase and loans

1 Automotive News 2/16/2017 http://www.autonews.com/article/20170216/RETAIL/170219866/ebay-survey:-63-percent-of-car-shoppers-likely-to-buy-online

2 Carvana carvana.com

“In fact I liked it”

From behaviors to experiences


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• Experience delights

– Convenience & service (any time, any place)

– Security (peace of mind)

– Soft-selling (no-pressure)

– Advice on-demand (research & reviews)

– Savings (time & money)

– Digital follow-through (main & ancillary products)

• Younger demographics are fueling the digital shift

– They take older demographics with them

• Experiences in other industries influence expectations in financial services

• The wants:

– Familiar look and feel across industries and digital solutions (ease & convenience)

– Dancing-in-the-streets-good results

“In fact I liked it”

Our industry


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In the news

– Celent expects more apps to incorporate payments like Uber does1

– As P2P heats up, nearly half of U.S. consumers are expected to

adopt the service by 20212

– The Internet of Things (IoT) – the number of these devices is

growing exponentially. Such connections can lead to delivery of

financial information and insights wherever, whenever and however

people need it3.

– January 2017 birthdays – iPhone 10, ATM 50

FIS combined them years ago

1 https://www.forbes.com/sites/tomgroenfeldt/2017/02/23/celent-expects-more-apps-to-incorporate-payments-like-uber-does/#5e1708f36437

2 http://www.digitaltransactions.net/news/story/As-P2P-Heats-up_-Nearly-Half-of-U_S_-Consumers-Are-Expected-To-Adopt-the-Service-by-2021

3 https://thefinancialbrand.com/63145/digital-banking-opportunities-iot-api-fintech-payments/

Our industry


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The 2017 State of Strategic Digital Banking1

– “According to Gartner and IDC, by 2018, banks and financial institutions clients will access and

contact their banks mainly through mobile devices

– Banks and financial institutions CIOs main concern to 2017 and beyond is what will be done with

their companies’ branches

– According to the 2016 MX Consumer Survey, clients find it more important an easy digital banking

experience (67 percent) rather than a friendly teller or staff (33 percent) when choosing where to

open an account

– According to the 2016 MX Consumer Survey, banks and financial Institutions clients are now more

likely to access their banks in a more impersonal way, and only 19 percent use a personal method

(branch or call center).”

1 http://www.cio.com/article/3166057/leadership-management/the-2017-state-of-strategic-digital-banking.html

Our industry


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Fintechs predict trends1

– Access – So the next big trend is ‘aggregation’, combining people’s financial data from multiple sources to build up

and analyze a holistic picture of their finances. You need to know your total income and spending, the value of your

loans, savings, investments and assets before you can make reliable plans and budgets.

– Advice – Mobile banking will move beyond the transactional, product-pushing approach to one that is radically

customer-centric, pro-active and goal-oriented, aimed at helping users make smarter decisions.

– Affective – If banks aspire to become omni-present trusted advisors, they are going to have to build a much deeper

emotional connection with their clients.

1 http://www.fintech.finance/01-news/beyond-mobile-banking-a-list-of-6-ways-to-the-future/

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Consumer eBanking 2017 Roadmap

CeB User Interface Refresh

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CeB RefreshMobile 4.0

CeB Refresh

Bill Payment upgrade

CeB User Interface Refresh

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• Responsive tablet design*

• All functions performed within modals

on page

• Supports a multi-pay or single pay UI

• Multi-pay supports a total with one make

payment button

• Consumer selects the funding account to

use for each payee which is saved for

next session

• Keeps track of payments coming due soon

*Final page design may be different

MX integration

New PFM Solution

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• Users enrolled from CeB with all bank

accounts automatically sent

• Held-away accounts pulled and shown on

CeB account overview

• MX master widget integrated in CeB menu

• Available in current and new CeB user

interfaces

• Mobile app integration

• Pilot Q4; target Q1 2018 general availability

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• What is Zelle

– National directory and real-time services

– Consumer brand

• Why Zelle

– FI-centric, ubiquitous

– Embraced and marketed by largest FIs

• Benefits

– Reach to nearly 70% of us deposit customers through Zelle

– Gateway to other real-time solutions linking with Visa,

MasterCard, NYCE, PayPal, The Clearing House and others

• Availability

– CeB pilot targeted for Q4 2017

Zelle integration

P2P Candidate Enhancement

Loan Enhancements

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• Directed loan payments (HORIZON)

– Provide ability to schedule future or recurring loan payments including principal, interest

or fees. Provide ability to pay using internal or external funding account – Available

April 2017

• Principal Payments (MISER/Bankway)

– Provides users the ability to do a one-time real-time principal payment in addition to their

regular payment or as stand-alone payment – Target Q2 2017

• Online Loan Statements (HORIZON/Bankway)

– For clients using CeB Online document enrollment pages, now includes support for loan

statements. Also supports passing all DP and LN accounts to FOS EDelivery solution

for viewing – Target Q3 2017

Other candidates

2017 CeB Roadmap

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• Closed account improvements – CeB to receive daily updates from the cores to reflect

closed account statuses and clean-up transfers, payments and alerts. Current account

status reflected in data extracts – Q4 target

• Bill Pay Expedited Payment – expanded reach using Same Day ACH – Available in 2017

where real-time BP funding is possible – Q4 target

• Secure Bankmail improvements – add additional customer information to bankmail and

support the ability to include attachments – Q4 target

• Premium Alerts: HORIZON real-time e-alerts – CeB integration with the HORIZON eAlert

offering for real-time DP and LN account triggers – Q4 target

• Premium Alerts: MISER real-time e-alerts – CeB integration with the MISER alert offering

for real-time DP and LN account triggers – Q2 2018 target

Data extracts

Data Analytics

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• Data extract improvements: rewrite and refresh of all CeB data;

data files can be sent to client and/or directed to core warehouse

• Objectives: refresh all data points, align CeB data more closely with

core data and ensure that data is sent from the source when

changes occur

• Phase 1: updated customer and account files (complete) – Data

extracts can be made available via secure site for download to bank.

• Phase 2: update all other files - Target pilot Q4 2017

– Bill Pay, People Pay data direct from source

– Closed and unlinked account indicators

• Phase 3: Cores to incorporate CeB data into their data warehouse

solutions – Dates TBD for each core

• Dedicated product & engineering teams focused on delivering high-value data and analytics products

• Fully leveraging FIS Secure Cloud

• Roadmap enhancements

• Addition of core customer identifier allowing connection to other data

• Expanded reports

• CeB data ingested to create digital dashboards for adoption and trending

Data & Analytics

Metrics Intelligence

Mobile BankingJames Kaster

Mobile – familiar

FIS Digital Solutions

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• Native design with platform-specific feel

– ADA-compatible

– Camera, Touch

• Thumb-centric, user-centric design

• Streamlined transaction flows enable users to

complete tasks with less steps or taps

• Faster performance through quicker

functioning that provides greater ease-of-use

• Positive user experience drives engagement

and builds customer loyalty

Mobile delights


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• Convenience/services

– Any time & any place

– Balance inquiries

– Transfers

– Bill Pay

• Security

– Touch ID and Passcode

– Cardless Cash

– SecurLOCK (HZN/BW)

– OOW & OOBA

• No-pressure sales

– mPromote

– Links to your HTML5 pages

• Saves time and money

– Remote Deposit

– People Pay

– Zelle

– PayPal One Touch

– Sensibill

• Advice

– Financial calculators

– MX

• Follow-through

– Appointment scheduling

– Financial calculators

– mPromote

– MX

Note: Some features listed are future candidates

Convenience/service


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• Any time & any place

• Balance inquiries

• Transfers

• Bill Pay

– Photo Bill Pay improves engagement

Biller sites accounted for fully 73% of online bills

paid by consumers last year, up from 62% in 2010,

according to a report released by Boston-based

research firm Aite Group1.

1 Source: http://www.digitaltransactions.net/news/story/Biller-Bill-Pay-Sites-Crush-Bank-Sites-While-Both-Camps-Look-to-Faster-Payment-Offerings, Jan 24, 2017

Source (top): 2016 U.S. Retail Banking Satisfaction Study J.D. Power, April 2016

Source (bottom): Mobile Banking Quantified: Comprehensive Benchmarks for US, Vendors & Institution, May 2016

Saves time and money


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• Remote Deposit Capture

– Easily and securely deposit checks

• People Pay

– Pay anyone with an email address or

mobile number

• Zelle

– National directory, real-time services,

consumer brand

• PayPal One Touch

– Link payment accounts with PayPal

• Sensibill

– Manage line-item receipts

Security


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• Touch ID and Passcode

– Quick access to key features

• Cardless Cash

– Pre-order a cash withdrawal at the ATM

• SecurLOCK (HZN/BW Q4 pilot)

– Proactively control cards and finances for everyday purchases while mitigating debit card fraud

• Out-of-Band Authentication (OOBA)

– Texted, secure one-time, personal identification number (OTP)

• Rogue App Defender (RAD)

– Proactively eliminates malicious, duplicate apps

No-pressure sales


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• mPromote

– In-app ad space for marketing, educational, cross-sell and promotional content

• Links to your HTML5 pages

– About us

Corporate culture

Community initiatives

– Contact us

– Offers

– Products

– Rates

– Services

Lost cards

Order checks

– Social media

Trust

Soft-sell

Engage

Advice


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• Financial calculators

– Tools to make better informed financial decisions

Home Loans

Auto Loans

Credit Cards

Savings

CDs

– Positions your FI as the trusted source of information

• MX

– Account aggregation

– Budgets

– Spending

– Goals

Follow-through


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• Appointment scheduling

– Connect digital with physical

– Elevate sales & service w/ in-branch

efficiency

• Calculator

– Emailed results generate leads for

follow-up

• mPromote

– Call-to-action

• MX

– Insight/Target feature presents offers

– Call-to-action

James Kaster, Product Manager, [email protected]

Anne Konop, Product Manager, [email protected]

Documents

Enhancing the Customer Experience with Consumer eBanking ...empower1.fisglobal.com/rs/650-KGE-239/images/607 Enhancing the... · Enhancing the Customer Experience with Consumer eBanking