4. Direct banking now common place for information gathering Source: Council on Financial Competition, 2008
5. Direct banking expected to dominate purchase process in future Source: Council on Financial Competition, 2008
6. “It’ll be different this time” Banking Internet 1990s 1990s 2000s+ Internet Banking Books Music News Online sales of finance products “ Web 2.0” Collaboration User generated content Online application forms (Proper) direct banking
9. Technology is not the barrier (anymore) Source: Council on Financial Competition, 2008 *
10. But the process remains a serious hurdle Source: Council on Financial Competition, 2007 * *
11. Source: Council on Financial Competition, 2008 Over a third of banks have made a choice
12.
13. … define “direct” customer proposition Association with traditional bank Integrated channel Division Standalone institution Same products & pricing as other channels Same products but different pricing Customised products & processes Customised products & processes Customised products & processes Convenience Discount for “going direct” No need to go to branch Total focus on “direct” customers Bank alternative
17. Association with traditional bank Integrated channel Division Standalone institution Same products & pricing as other channels Same products but different pricing Customised products & processes Customised products & processes Customised products & processes NAB/ UBank