SlideShare ist ein Scribd-Unternehmen logo
1 von 17
Downloaden Sie, um offline zu lesen
Building the eBank Value Proposition

TonyTorero.com Consulting, LLC
Contact: (913) 538-1572
February 2011
Building the eBank Value Proposition

Agenda
1.
2.
3.
4.

Objective Definition
Facts and Figures
The eBank Value Proposition - Scope
The 7 eBank Commandments
Explained
5. Tools of Execution
6. Summary & Game Plan
2
Objective Definition
• The Community FI is at NO disadvantage to the large,
national box banks with their online presence. Quite the
opposite actually; they have the ability to leverage
strategic technology vendors to offer a combination of
technology and human attention to their needs that box
banks are unable to match.
• What they often lack are the resources to leverage this
advantage to the fullest. This is the gap we will fill;
allowing them to be bankers while we also allow them to
maximize the investment in their online presence and
make use of a team that will offer a unique skill set that
most Community FI’s can’t afford to keep on payroll.

3
Facts and Figures – Part I
•

•

•

•
•

•

Banks see online banking as a value-added customer service, and are taking great
pains to create user experiences that reinforce customer trust and a recognition of
what every online customer wants: convenience and speed at low cost. ¹
While about 95 million U.S. households use the Internet, 72.5 million of those
households participate in online banking, with 36.4 million using online bill pay.
Those numbers represent a 51 percent increase in Internet usage per household
since 2000, and an even larger increase of 84 percent in online banking and 78
percent in online bill pay.
One area of weakness could be among Generation Y, consumers born between the
late-1970s and the late 1990s, who are adopting new technology at a high pace, but
are more likely to pay through a biller direct service.
Online banking and bill payment are no longer "early adopter" technologies, and
often lead to increased customer loyalty.
While consumers often hear about online options through word of mouth, bank
branches have the best opportunity to educate customers on the services they
provide.
Online banking and mobile payments are growing at a faster pace than the Internet. ²

¹ http://www.forbes.com/bow/b2c/category.jhtml?id=3
² http://www.banktech.com/channels/showArticle.jhtml?articleID=225200064

4
Facts and Figures – Part II
•

•

72% of North American bank technology executives expect their budgets to
stay the same or decrease in 2010, according to a recent Aite Group report.
As a result, banks seeking to improve efficiencies, reduce costs and free up
capital are increasingly turning to outsourcing, according to reports.
Thanks to a combination of demographic trends, technology capabilities and
uncertainty in the banking competitive arena, personal financial management
(PFM) tools -- online resources geared toward helping consumers and small
businesses manage their finances -- really took off in 2009 and are likely to
present an even greater opportunity (or threat) to banks in 2010. PFM looks
to be an ideal way for banks to improve customer experience and loyalty and
to leverage their online banking platforms. Banks are in a prime position to
help customers take more control over their finances. But PFM's growing
popularity also raises the specter of disintermediation. The leading PFM
players, including Mint (acquired recently by Intuit), Geezeo and Yodlee, are
simultaneously potential partners and competitors to banks. ¹

¹ http://www.banktech.com/managementstrategies/showArticle.jhtml;jsessionid=GF45KRBAEQHCZQE1GHPSKHWATMY32JVN?articleID=2220
02892&pgno=2

5
The eBank Value Proposition - Scope
• Just as the community FI value proposition consists of offering an
unparalleled combination of human and technological contact &
service, the online channels can offer the same marriage of old
(traditional) and new.
• In other words, we will offer our customers a strategic framework that
leverages the bank’s investment in their Technological Infrastructure
as well as opening up new web & Marketing opportunities by applying
a series of 7 eBanking commandments that will:

– Put eBanking controls firmly into the customer’s hands.
– Empower customers to communicate with their bank
when, where & how they want.
– Provide simple, easy to use tools that let customers
control their money, their finances and how they
communicate economically with the world.
6
The 7 eBank Commandments
Explained
1.Listen to me & Respond accordingly (Make me
feel important)
Just like a branch customer, an eBanker wants to feel
important. They like to influence their eBanking experience.
They want the eBank to listen to their concerns and
suggestions and respond accordingly. They compare the
bank’s Web experience to every non-bank experience and
transfer those expectations from company to company. The
serious eBanker seeks a partner that appreciates new ideas
from a wide range of sources. Therefore, in designing the
eBank experience for our clients, we must compete against
a wide range of user expectations in terms of ease of use
and functionality and pursue continuing research on user
preferences.

7
The 7 eBank Commandments
Explained
2.Personal Touch
eBankers do not see the Web experience as a separate
service or a replacement for the branch necessarily, but
as an extension of the overall bank experience. They
perceive relationship banking as an integrated
experience that works seamlessly, regardless of how
they choose to interact with the bank. They see the Web
as an integral part of all their personal relationships and
a way to enrich those relationships. They see no real
distinction between visiting a branch and researching or
interacting with a bank online. Therefore, we need to
intertwine the Web experience for our customers into all
the aspects of personal relationship banking rather than
treat it as a distinct channel.

8
The 7 eBank Commandments
Explained
3.Seamless Assistance with my Banking Needs
eBankers want to be able to conduct a full range of
transactions online, from opening accounts to chatting
with a customer support person. They are likely to seize
upon a range of imbedded functionality that will put them
in direct, real-time contact with eBank support staff as
well as their personal banker. These users see email,
texting or instant messaging in the same light and view
them as largely interchangeable. The eBanker now
expects their online tools to give them the power to
manage their finances, budget for current & future needs,
financially forecast and give them the option of taking as
firm control of their finances as they wish, whether
they’re on their computer or mobile device.

9
The 7 eBank Commandments
Explained
4.Banking my way (Let me choose how to
use/customize web tools)
The more advanced eBankers want to be able to
customize their Web experience. Every eBanker is
concerned about security but this group is even
more aware of the paramount importance of proper
online security. They even prefer to be able to set
their own security levels based on their personal
risk assessment to meet their unique needs. They
want to add features at their discretion and add or
delete optional services on demand. Consumers
want choices and the ability to customize the Web
experience.

10
The 7 eBank Commandments
Explained
5.Tools to better manage my money (PFM
Tools)
The advent of online Personal Financial Management (PFM)
services has put a dent into Quicken’s stronghold within the
PFM market. Many more users are seeking a simple set of
tools to better manage their personal finances. A basic,
integrated PFM capability has become increasingly
important with the ability to set up and track budgets and
expenditures. In these difficult economic times, users are
seeking an easy way to better manage their finances and
build net worth. eBankers are seeking impartial and helpful
financial advice from a reliable source. Therefore, we need
to encourage our customer to leverage their trusted
relationship with the bank, which has historically occurred
as a result of our branch presence.

11
The 7 eBank Commandments
Explained
6.Social Networking
For many eBankers, social media sites, such as Facebook, have become an
integral component of their day to day lives. They develop or nurture
relationships that impact their business decisions, as well as their friendships
and professional ties within these social spheres. Increasingly, these sites
have become an influential source of impartial information, advice, and
guidance. Business Reputations & Brand Equity are made or broken with
feedback from customers. Referrals are generated between network members
based on past experiences. This form of word of mouth marketing is always
the best, and the least expensive, marketing. Therefore, we need to help our
customers understand the vital importance of tapping into these networks,
monitoring this feedback and encouraging positive “viral’ marketing where
possible. Simply put, when it comes to social networking, forward thinking FI’s
should strongly consider testing this blue ocean while its still blue because:
– It costs little if any to introduce your business within this sphere.
– If you don’t protect your brand on the social networking airwaves,
somebody else is liable to do it for you!
12
The 7 eBank Commandments
Explained
7.Viral Marketing
A true community bank has a unique ability to differentiate
itself in the local market by adding a personal touch that a
large, box bank cannot replicate. In that sense, the driving
philosophy behind eBanking is really no different than the
branding and positioning we apply to the FI’s overall image.
Some examples of Viral Marketing on the web may include:
offering a humorous twist to financial advice via a blog or
micro-site or highlight local events in a unique and
distinctive manner via social networking sites. Since we
know each eBanker when they log-in, we have a unique
ability to deliver a level of personal response, on a mass
basis, that is unprecedented in banking. Our strategy
should look to highlight opportunities to add a personal or
local touch wherever possible.

13
Tools of Execution
• It is Crucial to note that the 7 eBank Commandments
represent a framework and strategy. The actual tactics
employed to address the needs of each bank under the holding
company will vary depending upon their individual eBank
strategy that is developed & agreed upon.
• The tools employed to execute the tactics that will be developed
with customers will include, among others:
–
–
–
–
–
–
–

eBank Site & Platform Strategic Planning, Design & Implementation
Online Marketing Efficiency & Profitability Reporting & Analysis
Social Media Integration with Web Marketing Strategy
SEO & SEM Consulting and Strategy
Sophisticated Analytics
Website Usability Studies
Concentrated eMail Marketing (e.g. Drip & Custom Campaigns)

14
Summary & Game Plan – Part I
• Part web development, part eMarketing, part product and
services discovery & optimization… we will work tirelessly
with a hands on, exhaustive approach to help the bank’s
create a unique customer experience & realize the full
technological potential that is available to them.
• We will develop a standardized, yet dynamic series of lists of
tactics our team will offer under each strategic area we will
offer our banks though one size will most definitely not fit all!
• We will review each bank’s web marketing presence,
analytical data as well as the overarching online banking
suite to best gauge how the 7 eBank commandments can
best help each institution reach their communities.
15
Summary & Game Plan – Part II
• Advanced Mobile & Tablet devices will usher in a blue ocean
opportunity centering around mobile payments. We will
discover the best opportunities for partnership, resonance &
ubiquity.
• Social Media doesn’t end with Facebook. We will leverage
the infinite tools within the SM Universe to communicate &
engage customers in new ways.
• Determine what emerging eBanking technology areas we
lack or underutilize today that could be worth making a
strategic focus for growth & penetration?
• How do we get our internal customer/employee base
engaged and euphoric in evangelizing our message and
excited about our presence & product suite?

16
Conclusion
• Thank you for the opportunity to present this
framework. I believe we could use it to
accomplish something special!
“The Web as I envisaged it, we have not seen it yet.
The future is still so much bigger than the past.”
“You affect the world by what you browse.”
- Tim Berners-Lee: Creator of the World Wide Web
17

Weitere ähnliche Inhalte

Was ist angesagt?

Mobile Wars: Fintech vs. Banks... and Big Tech in Ambush
Mobile Wars: Fintech vs. Banks... and Big Tech in AmbushMobile Wars: Fintech vs. Banks... and Big Tech in Ambush
Mobile Wars: Fintech vs. Banks... and Big Tech in AmbushKatia Bazzocchi
 
Marketing strategy for launching mobile money services in Mexico
Marketing strategy for launching mobile money services in MexicoMarketing strategy for launching mobile money services in Mexico
Marketing strategy for launching mobile money services in MexicoAshish Tandon
 
Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...
Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...
Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...Diarmuid Mallon
 
Innovating banking: Lessons from the world’s leading innovators
Innovating banking: Lessons from the world’s leading innovators Innovating banking: Lessons from the world’s leading innovators
Innovating banking: Lessons from the world’s leading innovators Pauline Mura
 
Mobile Money Agent Network Development in Haiti
Mobile Money Agent Network Development in HaitiMobile Money Agent Network Development in Haiti
Mobile Money Agent Network Development in HaitiNetHopeOrg
 
Disruptive innovation in financial sector with special reference to banking s...
Disruptive innovation in financial sector with special reference to banking s...Disruptive innovation in financial sector with special reference to banking s...
Disruptive innovation in financial sector with special reference to banking s...Rossy Mathur
 
Banking Innovations Forum 2009 - Bartłomiej Kozakowski, Comarch
Banking Innovations Forum 2009 - Bartłomiej Kozakowski, ComarchBanking Innovations Forum 2009 - Bartłomiej Kozakowski, Comarch
Banking Innovations Forum 2009 - Bartłomiej Kozakowski, ComarchComarch SA
 
The 10 most promising payment and card solution providers
The 10 most promising payment and card solution providers The 10 most promising payment and card solution providers
The 10 most promising payment and card solution providers Merry D'souza
 
Information on mPay Connect Consulting
Information on mPay Connect ConsultingInformation on mPay Connect Consulting
Information on mPay Connect ConsultingMenekse Gencer
 
The Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with DigitalThe Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with DigitalCapgemini
 
The Three Costliest Myths about Gen Y
The Three Costliest Myths about Gen YThe Three Costliest Myths about Gen Y
The Three Costliest Myths about Gen YComrade
 
Swift white paper_mobile_payments
Swift white paper_mobile_paymentsSwift white paper_mobile_payments
Swift white paper_mobile_paymentsRudi Chatab
 
M-PESA CASE STUDY
M-PESA CASE STUDY M-PESA CASE STUDY
M-PESA CASE STUDY DanielMar18
 
Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...
Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...
Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...Menekse Gencer
 
Using Mobile Money to Promote Financial Inclusion in Pakistan
Using Mobile Money to Promote Financial Inclusion in PakistanUsing Mobile Money to Promote Financial Inclusion in Pakistan
Using Mobile Money to Promote Financial Inclusion in PakistanKarandaaz Pakistan
 
Opportunities for disruption in Financial Services (with a mobile focus)
Opportunities for disruption in Financial Services (with a mobile focus)Opportunities for disruption in Financial Services (with a mobile focus)
Opportunities for disruption in Financial Services (with a mobile focus)Nadya.Powell
 
Disruption, mobile and financial services
Disruption, mobile and financial servicesDisruption, mobile and financial services
Disruption, mobile and financial servicesNadya Powell
 
121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...
121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...
121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...Spire Research and Consulting
 

Was ist angesagt? (20)

Mobile Wars: Fintech vs. Banks... and Big Tech in Ambush
Mobile Wars: Fintech vs. Banks... and Big Tech in AmbushMobile Wars: Fintech vs. Banks... and Big Tech in Ambush
Mobile Wars: Fintech vs. Banks... and Big Tech in Ambush
 
The Future or Everyday Banking
The Future or Everyday BankingThe Future or Everyday Banking
The Future or Everyday Banking
 
Marketing strategy for launching mobile money services in Mexico
Marketing strategy for launching mobile money services in MexicoMarketing strategy for launching mobile money services in Mexico
Marketing strategy for launching mobile money services in Mexico
 
Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...
Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...
Sybase Mobile Commerce Guide 2011_Global Opportunities for Financial Institut...
 
Innovating banking: Lessons from the world’s leading innovators
Innovating banking: Lessons from the world’s leading innovators Innovating banking: Lessons from the world’s leading innovators
Innovating banking: Lessons from the world’s leading innovators
 
Mobile Money Agent Network Development in Haiti
Mobile Money Agent Network Development in HaitiMobile Money Agent Network Development in Haiti
Mobile Money Agent Network Development in Haiti
 
Disruptive innovation in financial sector with special reference to banking s...
Disruptive innovation in financial sector with special reference to banking s...Disruptive innovation in financial sector with special reference to banking s...
Disruptive innovation in financial sector with special reference to banking s...
 
Banking Innovations Forum 2009 - Bartłomiej Kozakowski, Comarch
Banking Innovations Forum 2009 - Bartłomiej Kozakowski, ComarchBanking Innovations Forum 2009 - Bartłomiej Kozakowski, Comarch
Banking Innovations Forum 2009 - Bartłomiej Kozakowski, Comarch
 
The 10 most promising payment and card solution providers
The 10 most promising payment and card solution providers The 10 most promising payment and card solution providers
The 10 most promising payment and card solution providers
 
Information on mPay Connect Consulting
Information on mPay Connect ConsultingInformation on mPay Connect Consulting
Information on mPay Connect Consulting
 
The Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with DigitalThe Future of Bank Branches Coordinating Physical with Digital
The Future of Bank Branches Coordinating Physical with Digital
 
The Three Costliest Myths about Gen Y
The Three Costliest Myths about Gen YThe Three Costliest Myths about Gen Y
The Three Costliest Myths about Gen Y
 
Swift white paper_mobile_payments
Swift white paper_mobile_paymentsSwift white paper_mobile_payments
Swift white paper_mobile_payments
 
M-PESA CASE STUDY
M-PESA CASE STUDY M-PESA CASE STUDY
M-PESA CASE STUDY
 
Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...
Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...
Mobile Financial Services for the Next Billion Customers - Mobile Payments Se...
 
Using Mobile Money to Promote Financial Inclusion in Pakistan
Using Mobile Money to Promote Financial Inclusion in PakistanUsing Mobile Money to Promote Financial Inclusion in Pakistan
Using Mobile Money to Promote Financial Inclusion in Pakistan
 
Opportunities for disruption in Financial Services (with a mobile focus)
Opportunities for disruption in Financial Services (with a mobile focus)Opportunities for disruption in Financial Services (with a mobile focus)
Opportunities for disruption in Financial Services (with a mobile focus)
 
MMT Business Models
MMT Business ModelsMMT Business Models
MMT Business Models
 
Disruption, mobile and financial services
Disruption, mobile and financial servicesDisruption, mobile and financial services
Disruption, mobile and financial services
 
121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...
121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...
121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Building block...
 

Andere mochten auch

1 S Wao Coen Anneleen.
1 S Wao Coen Anneleen.1 S Wao Coen Anneleen.
1 S Wao Coen Anneleen.85855
 
Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...
Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...
Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...Els Brouwers
 
Sub10 white paper replace nokia metro hopper
Sub10 white paper replace nokia metro hopperSub10 white paper replace nokia metro hopper
Sub10 white paper replace nokia metro hopperAdvantec Distribution
 
ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...
ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...
ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...Aberla
 
Mobile Banking 2011: DAB
Mobile Banking 2011: DABMobile Banking 2011: DAB
Mobile Banking 2011: DABAberla
 
Mobile Banking 2011: Clairmail
Mobile Banking 2011: ClairmailMobile Banking 2011: Clairmail
Mobile Banking 2011: ClairmailAberla
 

Andere mochten auch (7)

1 S Wao Coen Anneleen.
1 S Wao Coen Anneleen.1 S Wao Coen Anneleen.
1 S Wao Coen Anneleen.
 
Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...
Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...
Een brede scholenkluster in Kuregem als activator van een strategisch stadspr...
 
Sub10 white paper replace nokia metro hopper
Sub10 white paper replace nokia metro hopperSub10 white paper replace nokia metro hopper
Sub10 white paper replace nokia metro hopper
 
ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...
ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...
ESEconf2011 - Hochdoerfer Stephan: "Assembly line production of software appl...
 
Programa Pró-Trator
Programa Pró-TratorPrograma Pró-Trator
Programa Pró-Trator
 
Mobile Banking 2011: DAB
Mobile Banking 2011: DABMobile Banking 2011: DAB
Mobile Banking 2011: DAB
 
Mobile Banking 2011: Clairmail
Mobile Banking 2011: ClairmailMobile Banking 2011: Clairmail
Mobile Banking 2011: Clairmail
 

Ähnlich wie 20110228 the e bank value proposition_vargas

Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...Cognizant
 
State of Retail Banking Report
State of Retail Banking ReportState of Retail Banking Report
State of Retail Banking ReportChris Cameron
 
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty
Digital Banking: Enhancing Customer Experience; Generating Long-Term LoyaltyDigital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty
Digital Banking: Enhancing Customer Experience; Generating Long-Term LoyaltyCognizant
 
Going Digital: What Banking Leaders Need to Know
Going Digital: What Banking Leaders Need to KnowGoing Digital: What Banking Leaders Need to Know
Going Digital: What Banking Leaders Need to KnowCognizant
 
For Effective Digital Banking Channels, Put Customers First (Part II of III)
For Effective Digital Banking Channels, Put Customers First (Part II of III)For Effective Digital Banking Channels, Put Customers First (Part II of III)
For Effective Digital Banking Channels, Put Customers First (Part II of III)Cognizant
 
PROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyaltyPROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyaltyNabarun Paul
 
customer satisfaction of internet banking of union bank of india
customer satisfaction of internet banking of union bank of indiacustomer satisfaction of internet banking of union bank of india
customer satisfaction of internet banking of union bank of indiaShrey Saxena
 
Retail Banking: Delivering a Meaningful Digital Customer Experience
Retail Banking: Delivering a Meaningful Digital Customer ExperienceRetail Banking: Delivering a Meaningful Digital Customer Experience
Retail Banking: Delivering a Meaningful Digital Customer ExperienceCognizant
 
Digital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services IndustryDigital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services Industrysethnainaa
 
Digital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services IndustryDigital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services Industrydrishtipuro1234
 
Perspective- Multi Channel Banking: A Five Point Strategy
Perspective- Multi Channel Banking: A Five Point Strategy Perspective- Multi Channel Banking: A Five Point Strategy
Perspective- Multi Channel Banking: A Five Point Strategy Infosys Finacle
 
Copy of Digital banking- final pp(1).pptx
Copy of Digital banking- final pp(1).pptxCopy of Digital banking- final pp(1).pptx
Copy of Digital banking- final pp(1).pptxAhmedNabil640023
 
A Career In Investment Banking Essay
A Career In Investment Banking EssayA Career In Investment Banking Essay
A Career In Investment Banking EssayCustom Note Paper UK
 
CUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHU
CUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHUCUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHU
CUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHUsaravana vel.k
 
internet-banking
internet-bankinginternet-banking
internet-bankingchinchusha
 
Digitisation-of-Wealth-Management-Final
Digitisation-of-Wealth-Management-FinalDigitisation-of-Wealth-Management-Final
Digitisation-of-Wealth-Management-FinalShannon Aw
 

Ähnlich wie 20110228 the e bank value proposition_vargas (20)

Doing Digital Banking Right
Doing Digital Banking RightDoing Digital Banking Right
Doing Digital Banking Right
 
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty ...
 
State of Retail Banking Report
State of Retail Banking ReportState of Retail Banking Report
State of Retail Banking Report
 
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty
Digital Banking: Enhancing Customer Experience; Generating Long-Term LoyaltyDigital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty
Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty
 
Going Digital: What Banking Leaders Need to Know
Going Digital: What Banking Leaders Need to KnowGoing Digital: What Banking Leaders Need to Know
Going Digital: What Banking Leaders Need to Know
 
For Effective Digital Banking Channels, Put Customers First (Part II of III)
For Effective Digital Banking Channels, Put Customers First (Part II of III)For Effective Digital Banking Channels, Put Customers First (Part II of III)
For Effective Digital Banking Channels, Put Customers First (Part II of III)
 
PROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyaltyPROJECT-Impact of Internet banking services on customer loyalty
PROJECT-Impact of Internet banking services on customer loyalty
 
customer satisfaction of internet banking of union bank of india
customer satisfaction of internet banking of union bank of indiacustomer satisfaction of internet banking of union bank of india
customer satisfaction of internet banking of union bank of india
 
Retail Banking: Delivering a Meaningful Digital Customer Experience
Retail Banking: Delivering a Meaningful Digital Customer ExperienceRetail Banking: Delivering a Meaningful Digital Customer Experience
Retail Banking: Delivering a Meaningful Digital Customer Experience
 
m'I Bank social media platform
m'I Bank social media platformm'I Bank social media platform
m'I Bank social media platform
 
Digital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services IndustryDigital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services Industry
 
Digital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services IndustryDigital Transformation in Banking Financial Services Industry
Digital Transformation in Banking Financial Services Industry
 
Perspective- Multi Channel Banking: A Five Point Strategy
Perspective- Multi Channel Banking: A Five Point Strategy Perspective- Multi Channel Banking: A Five Point Strategy
Perspective- Multi Channel Banking: A Five Point Strategy
 
Copy of Digital banking- final pp(1).pptx
Copy of Digital banking- final pp(1).pptxCopy of Digital banking- final pp(1).pptx
Copy of Digital banking- final pp(1).pptx
 
Banking Essay
Banking EssayBanking Essay
Banking Essay
 
A Career In Investment Banking Essay
A Career In Investment Banking EssayA Career In Investment Banking Essay
A Career In Investment Banking Essay
 
CUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHU
CUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHUCUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHU
CUSTOMER SATISFACTION ON E-BANKING SERVICE BY SETHU
 
internet-banking
internet-bankinginternet-banking
internet-banking
 
Role Of It In Banks
Role Of It In BanksRole Of It In Banks
Role Of It In Banks
 
Digitisation-of-Wealth-Management-Final
Digitisation-of-Wealth-Management-FinalDigitisation-of-Wealth-Management-Final
Digitisation-of-Wealth-Management-Final
 

Kürzlich hochgeladen

20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdfAdnet Communications
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxsonamyadav7097
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfAdnet Communications
 
The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...Antonis Zairis
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?Stephen Perrenod
 
Contracts with Interdependent Preferences
Contracts with Interdependent PreferencesContracts with Interdependent Preferences
Contracts with Interdependent PreferencesGRAPE
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismBrian Lin
 
MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.Arifa Saeed
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklosbeduinpower135
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingHenry Tapper
 
Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Guillaume Ⓥ Sarlat
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023SkillCircle
 
Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Commonwealth
 
Stock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfStock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfMichael Silva
 
20240315 _E-Invoicing Digiteal. .pptx
20240315 _E-Invoicing Digiteal.    .pptx20240315 _E-Invoicing Digiteal.    .pptx
20240315 _E-Invoicing Digiteal. .pptxFinTech Belgium
 
Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707harshan90
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.KumarJayaraman3
 

Kürzlich hochgeladen (20)

20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
20240314 Calibre March 2024 Investor Presentation (FINAL).pdf
 
LIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptxLIC PRIVATISATION its a bane or boon.pptx
LIC PRIVATISATION its a bane or boon.pptx
 
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdfLundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
Lundin Gold March 2024 Corporate Presentation - PDAC v1.pdf
 
The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...The unequal battle of inflation and the appropriate sustainable solution | Eu...
The unequal battle of inflation and the appropriate sustainable solution | Eu...
 
The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?The Power Laws of Bitcoin: How can an S-curve be a power law?
The Power Laws of Bitcoin: How can an S-curve be a power law?
 
Contracts with Interdependent Preferences
Contracts with Interdependent PreferencesContracts with Interdependent Preferences
Contracts with Interdependent Preferences
 
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for TourismTaipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
Taipei, A Hidden Jewel in East Asia - PR Strategy for Tourism
 
Effects & Policies Of Bank Consolidation
Effects & Policies Of Bank ConsolidationEffects & Policies Of Bank Consolidation
Effects & Policies Of Bank Consolidation
 
Monthly Economic Monitoring of Ukraine No.230, March 2024
Monthly Economic Monitoring of Ukraine No.230, March 2024Monthly Economic Monitoring of Ukraine No.230, March 2024
Monthly Economic Monitoring of Ukraine No.230, March 2024
 
MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.MARKET FAILURE SITUATION IN THE ECONOMY.
MARKET FAILURE SITUATION IN THE ECONOMY.
 
Hungarys economy made by Robert Miklos
Hungarys economy   made by Robert MiklosHungarys economy   made by Robert Miklos
Hungarys economy made by Robert Miklos
 
Work and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB fundingWork and Pensions report into UK corporate DB funding
Work and Pensions report into UK corporate DB funding
 
New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...
New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...
New Monthly Enterprises Survey. Issue 21. (01.2024) Ukrainian Business in War...
 
Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024Sarlat Advisory - Corporate Brochure - 2024
Sarlat Advisory - Corporate Brochure - 2024
 
India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023India Economic Survey Complete for the year of 2022 to 2023
India Economic Survey Complete for the year of 2022 to 2023
 
Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]Monthly Market Risk Update: March 2024 [SlideShare]
Monthly Market Risk Update: March 2024 [SlideShare]
 
Stock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdfStock Market Brief Deck for March 19 2024.pdf
Stock Market Brief Deck for March 19 2024.pdf
 
20240315 _E-Invoicing Digiteal. .pptx
20240315 _E-Invoicing Digiteal.    .pptx20240315 _E-Invoicing Digiteal.    .pptx
20240315 _E-Invoicing Digiteal. .pptx
 
Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707Mphasis - Schwab Newsletter PDF - Sample 8707
Mphasis - Schwab Newsletter PDF - Sample 8707
 
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
ACCOUNTING FOR BUSINESS.II DEPARTMENTAL ACCOUNTS.
 

20110228 the e bank value proposition_vargas

  • 1. Building the eBank Value Proposition TonyTorero.com Consulting, LLC Contact: (913) 538-1572 February 2011
  • 2. Building the eBank Value Proposition Agenda 1. 2. 3. 4. Objective Definition Facts and Figures The eBank Value Proposition - Scope The 7 eBank Commandments Explained 5. Tools of Execution 6. Summary & Game Plan 2
  • 3. Objective Definition • The Community FI is at NO disadvantage to the large, national box banks with their online presence. Quite the opposite actually; they have the ability to leverage strategic technology vendors to offer a combination of technology and human attention to their needs that box banks are unable to match. • What they often lack are the resources to leverage this advantage to the fullest. This is the gap we will fill; allowing them to be bankers while we also allow them to maximize the investment in their online presence and make use of a team that will offer a unique skill set that most Community FI’s can’t afford to keep on payroll. 3
  • 4. Facts and Figures – Part I • • • • • • Banks see online banking as a value-added customer service, and are taking great pains to create user experiences that reinforce customer trust and a recognition of what every online customer wants: convenience and speed at low cost. ¹ While about 95 million U.S. households use the Internet, 72.5 million of those households participate in online banking, with 36.4 million using online bill pay. Those numbers represent a 51 percent increase in Internet usage per household since 2000, and an even larger increase of 84 percent in online banking and 78 percent in online bill pay. One area of weakness could be among Generation Y, consumers born between the late-1970s and the late 1990s, who are adopting new technology at a high pace, but are more likely to pay through a biller direct service. Online banking and bill payment are no longer "early adopter" technologies, and often lead to increased customer loyalty. While consumers often hear about online options through word of mouth, bank branches have the best opportunity to educate customers on the services they provide. Online banking and mobile payments are growing at a faster pace than the Internet. ² ¹ http://www.forbes.com/bow/b2c/category.jhtml?id=3 ² http://www.banktech.com/channels/showArticle.jhtml?articleID=225200064 4
  • 5. Facts and Figures – Part II • • 72% of North American bank technology executives expect their budgets to stay the same or decrease in 2010, according to a recent Aite Group report. As a result, banks seeking to improve efficiencies, reduce costs and free up capital are increasingly turning to outsourcing, according to reports. Thanks to a combination of demographic trends, technology capabilities and uncertainty in the banking competitive arena, personal financial management (PFM) tools -- online resources geared toward helping consumers and small businesses manage their finances -- really took off in 2009 and are likely to present an even greater opportunity (or threat) to banks in 2010. PFM looks to be an ideal way for banks to improve customer experience and loyalty and to leverage their online banking platforms. Banks are in a prime position to help customers take more control over their finances. But PFM's growing popularity also raises the specter of disintermediation. The leading PFM players, including Mint (acquired recently by Intuit), Geezeo and Yodlee, are simultaneously potential partners and competitors to banks. ¹ ¹ http://www.banktech.com/managementstrategies/showArticle.jhtml;jsessionid=GF45KRBAEQHCZQE1GHPSKHWATMY32JVN?articleID=2220 02892&pgno=2 5
  • 6. The eBank Value Proposition - Scope • Just as the community FI value proposition consists of offering an unparalleled combination of human and technological contact & service, the online channels can offer the same marriage of old (traditional) and new. • In other words, we will offer our customers a strategic framework that leverages the bank’s investment in their Technological Infrastructure as well as opening up new web & Marketing opportunities by applying a series of 7 eBanking commandments that will: – Put eBanking controls firmly into the customer’s hands. – Empower customers to communicate with their bank when, where & how they want. – Provide simple, easy to use tools that let customers control their money, their finances and how they communicate economically with the world. 6
  • 7. The 7 eBank Commandments Explained 1.Listen to me & Respond accordingly (Make me feel important) Just like a branch customer, an eBanker wants to feel important. They like to influence their eBanking experience. They want the eBank to listen to their concerns and suggestions and respond accordingly. They compare the bank’s Web experience to every non-bank experience and transfer those expectations from company to company. The serious eBanker seeks a partner that appreciates new ideas from a wide range of sources. Therefore, in designing the eBank experience for our clients, we must compete against a wide range of user expectations in terms of ease of use and functionality and pursue continuing research on user preferences. 7
  • 8. The 7 eBank Commandments Explained 2.Personal Touch eBankers do not see the Web experience as a separate service or a replacement for the branch necessarily, but as an extension of the overall bank experience. They perceive relationship banking as an integrated experience that works seamlessly, regardless of how they choose to interact with the bank. They see the Web as an integral part of all their personal relationships and a way to enrich those relationships. They see no real distinction between visiting a branch and researching or interacting with a bank online. Therefore, we need to intertwine the Web experience for our customers into all the aspects of personal relationship banking rather than treat it as a distinct channel. 8
  • 9. The 7 eBank Commandments Explained 3.Seamless Assistance with my Banking Needs eBankers want to be able to conduct a full range of transactions online, from opening accounts to chatting with a customer support person. They are likely to seize upon a range of imbedded functionality that will put them in direct, real-time contact with eBank support staff as well as their personal banker. These users see email, texting or instant messaging in the same light and view them as largely interchangeable. The eBanker now expects their online tools to give them the power to manage their finances, budget for current & future needs, financially forecast and give them the option of taking as firm control of their finances as they wish, whether they’re on their computer or mobile device. 9
  • 10. The 7 eBank Commandments Explained 4.Banking my way (Let me choose how to use/customize web tools) The more advanced eBankers want to be able to customize their Web experience. Every eBanker is concerned about security but this group is even more aware of the paramount importance of proper online security. They even prefer to be able to set their own security levels based on their personal risk assessment to meet their unique needs. They want to add features at their discretion and add or delete optional services on demand. Consumers want choices and the ability to customize the Web experience. 10
  • 11. The 7 eBank Commandments Explained 5.Tools to better manage my money (PFM Tools) The advent of online Personal Financial Management (PFM) services has put a dent into Quicken’s stronghold within the PFM market. Many more users are seeking a simple set of tools to better manage their personal finances. A basic, integrated PFM capability has become increasingly important with the ability to set up and track budgets and expenditures. In these difficult economic times, users are seeking an easy way to better manage their finances and build net worth. eBankers are seeking impartial and helpful financial advice from a reliable source. Therefore, we need to encourage our customer to leverage their trusted relationship with the bank, which has historically occurred as a result of our branch presence. 11
  • 12. The 7 eBank Commandments Explained 6.Social Networking For many eBankers, social media sites, such as Facebook, have become an integral component of their day to day lives. They develop or nurture relationships that impact their business decisions, as well as their friendships and professional ties within these social spheres. Increasingly, these sites have become an influential source of impartial information, advice, and guidance. Business Reputations & Brand Equity are made or broken with feedback from customers. Referrals are generated between network members based on past experiences. This form of word of mouth marketing is always the best, and the least expensive, marketing. Therefore, we need to help our customers understand the vital importance of tapping into these networks, monitoring this feedback and encouraging positive “viral’ marketing where possible. Simply put, when it comes to social networking, forward thinking FI’s should strongly consider testing this blue ocean while its still blue because: – It costs little if any to introduce your business within this sphere. – If you don’t protect your brand on the social networking airwaves, somebody else is liable to do it for you! 12
  • 13. The 7 eBank Commandments Explained 7.Viral Marketing A true community bank has a unique ability to differentiate itself in the local market by adding a personal touch that a large, box bank cannot replicate. In that sense, the driving philosophy behind eBanking is really no different than the branding and positioning we apply to the FI’s overall image. Some examples of Viral Marketing on the web may include: offering a humorous twist to financial advice via a blog or micro-site or highlight local events in a unique and distinctive manner via social networking sites. Since we know each eBanker when they log-in, we have a unique ability to deliver a level of personal response, on a mass basis, that is unprecedented in banking. Our strategy should look to highlight opportunities to add a personal or local touch wherever possible. 13
  • 14. Tools of Execution • It is Crucial to note that the 7 eBank Commandments represent a framework and strategy. The actual tactics employed to address the needs of each bank under the holding company will vary depending upon their individual eBank strategy that is developed & agreed upon. • The tools employed to execute the tactics that will be developed with customers will include, among others: – – – – – – – eBank Site & Platform Strategic Planning, Design & Implementation Online Marketing Efficiency & Profitability Reporting & Analysis Social Media Integration with Web Marketing Strategy SEO & SEM Consulting and Strategy Sophisticated Analytics Website Usability Studies Concentrated eMail Marketing (e.g. Drip & Custom Campaigns) 14
  • 15. Summary & Game Plan – Part I • Part web development, part eMarketing, part product and services discovery & optimization… we will work tirelessly with a hands on, exhaustive approach to help the bank’s create a unique customer experience & realize the full technological potential that is available to them. • We will develop a standardized, yet dynamic series of lists of tactics our team will offer under each strategic area we will offer our banks though one size will most definitely not fit all! • We will review each bank’s web marketing presence, analytical data as well as the overarching online banking suite to best gauge how the 7 eBank commandments can best help each institution reach their communities. 15
  • 16. Summary & Game Plan – Part II • Advanced Mobile & Tablet devices will usher in a blue ocean opportunity centering around mobile payments. We will discover the best opportunities for partnership, resonance & ubiquity. • Social Media doesn’t end with Facebook. We will leverage the infinite tools within the SM Universe to communicate & engage customers in new ways. • Determine what emerging eBanking technology areas we lack or underutilize today that could be worth making a strategic focus for growth & penetration? • How do we get our internal customer/employee base engaged and euphoric in evangelizing our message and excited about our presence & product suite? 16
  • 17. Conclusion • Thank you for the opportunity to present this framework. I believe we could use it to accomplish something special! “The Web as I envisaged it, we have not seen it yet. The future is still so much bigger than the past.” “You affect the world by what you browse.” - Tim Berners-Lee: Creator of the World Wide Web 17