Your Roadmap to Digital & Branch Transformation
Your Roadmap to Digital & Branch Transformation Illinois Bankers Annual Convention Anne High, Senior Strategist Fiserv Bank Intelligence June 2017
Agenda • Roadmap to Digital & Branch Transformation • • • • • • • •
2
© 2017 Fiserv, Inc. or its affiliates. |
Start with “Why” Benchmark your Bank Get Clear on your Branch Strategy Define Future Staffing Needs Plan In-Branch Space & Related Technology Assess Your Digital Channels & Technology Measure & Continually Improve Assign a Singe Person in Charge of Effort
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Start with “Why”
3
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Mobile Banking Adoption Will Soon Be on Par with Online Banking
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Consumers Give Digital Channels the Edge Over Branches for Convenience and Speed Most Convenient to Fit My Schedule
40% 49%
Best Channel for Comparison of Types of Accounts and Features
Quickest Application Time
44%
11%
47%
45%
7%
9%
Online
Mobile
48%
In-Branch
Source: JAVELIN, “Making Digital Account Opening Simpler, Safer, and Seamless,” August 2015 © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
U.S. Banks Continue to Close Branches Overall in Efficiency Pursuit Number of Branches - Net Branch Growth/Decline, 2007-2016 3,000 2,500
2,523 1,889
2,000 Change in Number of Branches
1,500 1,000 388
500 0 -500
(326)
-1,000
(853)
(1,031)
-1,500
(1,001) (1,614)
-2,000 2007
2008
2009
2010
2011
2012
2013
2014
(1,442)
(1,422)
2015
2016
Source: FDIC: Summary of Deposits 06/30/16 © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Reconfiguring for greater efficiency and client satisfaction
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Digital Transformation Highly satisfied digital customers are: 52% more likely to purchase additional services 63% more likely to recommend the institution to others
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Compelling Case for Digital Transformation According to McKinsey and Accenture… “Our analysis suggests that winners may realize a profit upside of 40% or more” “Banks that can match the agility and innovation potential of other industries can reap pre-tax ROE levels of 18% to 25%” “I can imagine us about five, ten years from now talking about efficiency ratios in the low 40s, high 30s. The value at stake is quite substantial” “The banking sector in 2020 is a land of opportunity, provided that banks trim their sails to better adjust to emerging headwinds”
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Benchmark Your Bank
10
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
The Story of Us … how we’ve changed The average IL Bank is: • $984M Assets • 7.23 Branches • 152 FTEs • 67% of Non-Interest Expense spent on Branches and People
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Versus 5 years ago: • Average Assets increased $55.5M • Branches remained flat • but 84% stayed at same number & 6% reduced # branches
• Add to staff of 6 FTE • Spending more on Personnel / About the Same on Brick & Mortar FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Staffing and Branches: How we’ve changed Key Metric (000’s)
1Q 2017 IL Average
YTD 2013 IL Average
$202
$182
Assets per FTE
$5,308
$4,863
Revenue per Branch
$4,721
$4,094
Delivery System Capacity
$74,749
$61,562
3,768
3,735
Revenue per FTE
Accounts per Office
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Punch List: Metrics for Branch Channel Analysis Profitability & Efficiency
Balance Sheet
Sales & Activity
Market & Growth
ROA
Total Deposits/Branch
Current Mkt Deps & Loans
Efficiency Ratio
Total Loans/Branch
Accounts opened 1 Yr
Cost of Funds
DDA/Deposits Ratio
Revenue, Fee Income/ Branch
Loans/Deposits Ratio Revenue per Branch
Deposit Growth 1 yr Earnings Growth 1 yr
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Assets per Branch Market Share % & Demand
Accounts per office Cross Sell Transactions/FTE Accounts/FTE Channel Usage Digital Adoption
Est Growth Deps & Loans 5 yrs Household & Business Counts Est Growth HH & Businesses HH Incomes & Segments Business Segments, Revenues Wealth Mgmt metrics Consumer Demand
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Get Clear on Your Branch Strategy
14
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Leveraging Analytics in your Branching Decisions Financial institutions must first understand the current role of their branches and their importance to overall success, based on analysis rather than anecdote. •
STRATEGY – Understand the strategy for branch network and other channels, knowing how the branches fit in with the bank’s goals, operating strategy and growth plans.
•
DATA – achieve clarity on what’s needed: market, customer, branch and competitive research
•
ANALYSIS – identify steps to take to improve understanding that assists in developing strategy to create a roadmap for branching decisions
•
BRANCH OPTIMIZATION - Ideas for improving efficiency by optimizing your branch network.
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Where to Start? Makeup of our branch markets • Businesses, Households, Total Deposits, Total Loans • Market Size, Competitors, Market Share, Penetration
1 Performance factors • Expenses • Number of Employees
4
What do we know (or can find out) that matters?
3
2
How our branch markets are changing • Growth Rates (consumer and commercial)
Volumes and transactions • Number of Accounts and Outstanding Balances • Number of Transactions per Period
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Narrow the Focus for Each Branch to a Few Combinations Example • •
• • •
• •
•
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Deposits Loans Retention Origination Cross Sale Consumer Commercial Specific Segments/Niches
Deposits
Origination
Commercial
Health Svc
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Develop a Playbook for Each Branch Recap of each branch and key metrics.
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
“Strategist’s Comments – provide recommendations and insights on how to leverage strategies.”
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Close, Consolidate or Transform? Close Candidates
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Consolidate or Transform Candidates
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Define Future Staffing Needs
20
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Roles of Today and Tomorrow
21
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
What Type of Personnel Should You Look For? • Highly personable • Intellectually curious • Active listeners • Team players • Questioning the status quo Confidential – Limited: Solutions Seminar for Premier Attendees © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Plan In-Branch Space and Related Technology
23
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Transformed Branch
Broadway Bank, Texas © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Digital Strategy Moves Branches from Transaction Centers to Advice and Sales Centers
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Complexities of Branch Transformation
Analysis
People
Technology
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Banks of all types and sizes are making progress with the transformation
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
The Voice of the Customer:
1. Customer relationships are king 2. Consultative is the new transactional 3. Aligning processes delivers great experiences 4. Automation is no longer a “nice to have” 5. Omnichannel is the future 6. The universal banker is commonplace 7. Bankers need mobile access
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Assess Your Digital Channels & Technology
29
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Delivery Channel Transformation Objectives Branches are NOT dead but they must be repurposed
Objective is deeper customer relationships
Would your branches compare to an Apple Store?
New channels are additive, not a replacement cost
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Consistent experience across all channels is critical
People skills are elevated in importance
Technology silos must be dismantled
Transaction hub transforms into a sales and service center
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Shift from Bank Centric View to Focus on Customer
Customer Bank Centric Centric
How much do you know about your customer?
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Optimize Customer Experience with Channel Insights Collect Data
Analyze
360 view of customer profile and preference
Understand customer relationship with money
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Leverage social media to monitor lifestyle and satisfaction
Where and how should you bank?
Actionable Insights • Migrate simple transactions to selfservice • Maximize digital channels • New branch locations • Get real-time monitoring and alerts • Focus on underserved customers • Simplify product sets • Targeted offerings • Peer benchmarking • Identify emerging trends
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Digital “Conversation” Easy, Engaging & Efficient Questions Uncover Customer Interests & Needs
Customer answers 2-3 questions to determine needs and preferences. System displays offers/advice using your bank defined business rules.
An Email is automatically sent to your team for immediate follow-up.
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Measure and Continually Improve
34
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
How Are You Measuring Success?
Customer Experience
Productivity
Sales Growth
How well are you delivering meeting expectations?
Are you realizing operational and staff efficiencies?
Are you effectively crossselling and upselling?
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Assign a Single Person in Charge of Effort
36
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Power of Focus
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
8 Step Roadmap to Digital & Branch Transformation 1. Start with “Why” – Understand what drives digital and branch transformation for your franchise 2. Benchmark your bank – understand where you are today: financials, branches, staff & channels 3. Get clear on your branch strategy – Highest cost channel dictates thorough understanding of the highest and best use for every branch 4. Define future staffing needs – what skillsets in which areas 5. Plan in-branch space & related technology – your specific “branch of the future” 6. Assess your digital channels and technology – Banks must master technology 7. Measure and continually improve – What gets measured gets done 8. Assign a single person in charge of effort – Accountable with enough authority and responsibility
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Thank You! Anne High Senior Strategist Fiserv Bank Intelligence [email protected] Office: 678-375-5387 Mobile: 470-955-3092
39
39
© 2014 Fiserv, Inc. or its affiliates.
Agenda • Roadmap to Digital & Branch Transformation • • • • • • • •
2
© 2017 Fiserv, Inc. or its affiliates. |
Start with “Why” Benchmark your Bank Get Clear on your Branch Strategy Define Future Staffing Needs Plan In-Branch Space & Related Technology Assess Your Digital Channels & Technology Measure & Continually Improve Assign a Singe Person in Charge of Effort
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Start with “Why”
3
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Mobile Banking Adoption Will Soon Be on Par with Online Banking
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Consumers Give Digital Channels the Edge Over Branches for Convenience and Speed Most Convenient to Fit My Schedule
40% 49%
Best Channel for Comparison of Types of Accounts and Features
Quickest Application Time
44%
11%
47%
45%
7%
9%
Online
Mobile
48%
In-Branch
Source: JAVELIN, “Making Digital Account Opening Simpler, Safer, and Seamless,” August 2015 © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
U.S. Banks Continue to Close Branches Overall in Efficiency Pursuit Number of Branches - Net Branch Growth/Decline, 2007-2016 3,000 2,500
2,523 1,889
2,000 Change in Number of Branches
1,500 1,000 388
500 0 -500
(326)
-1,000
(853)
(1,031)
-1,500
(1,001) (1,614)
-2,000 2007
2008
2009
2010
2011
2012
2013
2014
(1,442)
(1,422)
2015
2016
Source: FDIC: Summary of Deposits 06/30/16 © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Reconfiguring for greater efficiency and client satisfaction
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Digital Transformation Highly satisfied digital customers are: 52% more likely to purchase additional services 63% more likely to recommend the institution to others
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Compelling Case for Digital Transformation According to McKinsey and Accenture… “Our analysis suggests that winners may realize a profit upside of 40% or more” “Banks that can match the agility and innovation potential of other industries can reap pre-tax ROE levels of 18% to 25%” “I can imagine us about five, ten years from now talking about efficiency ratios in the low 40s, high 30s. The value at stake is quite substantial” “The banking sector in 2020 is a land of opportunity, provided that banks trim their sails to better adjust to emerging headwinds”
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Benchmark Your Bank
10
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
The Story of Us … how we’ve changed The average IL Bank is: • $984M Assets • 7.23 Branches • 152 FTEs • 67% of Non-Interest Expense spent on Branches and People
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Versus 5 years ago: • Average Assets increased $55.5M • Branches remained flat • but 84% stayed at same number & 6% reduced # branches
• Add to staff of 6 FTE • Spending more on Personnel / About the Same on Brick & Mortar FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Staffing and Branches: How we’ve changed Key Metric (000’s)
1Q 2017 IL Average
YTD 2013 IL Average
$202
$182
Assets per FTE
$5,308
$4,863
Revenue per Branch
$4,721
$4,094
Delivery System Capacity
$74,749
$61,562
3,768
3,735
Revenue per FTE
Accounts per Office
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Punch List: Metrics for Branch Channel Analysis Profitability & Efficiency
Balance Sheet
Sales & Activity
Market & Growth
ROA
Total Deposits/Branch
Current Mkt Deps & Loans
Efficiency Ratio
Total Loans/Branch
Accounts opened 1 Yr
Cost of Funds
DDA/Deposits Ratio
Revenue, Fee Income/ Branch
Loans/Deposits Ratio Revenue per Branch
Deposit Growth 1 yr Earnings Growth 1 yr
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Assets per Branch Market Share % & Demand
Accounts per office Cross Sell Transactions/FTE Accounts/FTE Channel Usage Digital Adoption
Est Growth Deps & Loans 5 yrs Household & Business Counts Est Growth HH & Businesses HH Incomes & Segments Business Segments, Revenues Wealth Mgmt metrics Consumer Demand
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Get Clear on Your Branch Strategy
14
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Leveraging Analytics in your Branching Decisions Financial institutions must first understand the current role of their branches and their importance to overall success, based on analysis rather than anecdote. •
STRATEGY – Understand the strategy for branch network and other channels, knowing how the branches fit in with the bank’s goals, operating strategy and growth plans.
•
DATA – achieve clarity on what’s needed: market, customer, branch and competitive research
•
ANALYSIS – identify steps to take to improve understanding that assists in developing strategy to create a roadmap for branching decisions
•
BRANCH OPTIMIZATION - Ideas for improving efficiency by optimizing your branch network.
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Where to Start? Makeup of our branch markets • Businesses, Households, Total Deposits, Total Loans • Market Size, Competitors, Market Share, Penetration
1 Performance factors • Expenses • Number of Employees
4
What do we know (or can find out) that matters?
3
2
How our branch markets are changing • Growth Rates (consumer and commercial)
Volumes and transactions • Number of Accounts and Outstanding Balances • Number of Transactions per Period
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Narrow the Focus for Each Branch to a Few Combinations Example • •
• • •
• •
•
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Deposits Loans Retention Origination Cross Sale Consumer Commercial Specific Segments/Niches
Deposits
Origination
Commercial
Health Svc
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Develop a Playbook for Each Branch Recap of each branch and key metrics.
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
“Strategist’s Comments – provide recommendations and insights on how to leverage strategies.”
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Close, Consolidate or Transform? Close Candidates
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Consolidate or Transform Candidates
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Define Future Staffing Needs
20
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Roles of Today and Tomorrow
21
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
What Type of Personnel Should You Look For? • Highly personable • Intellectually curious • Active listeners • Team players • Questioning the status quo Confidential – Limited: Solutions Seminar for Premier Attendees © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Plan In-Branch Space and Related Technology
23
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Transformed Branch
Broadway Bank, Texas © 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Digital Strategy Moves Branches from Transaction Centers to Advice and Sales Centers
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Complexities of Branch Transformation
Analysis
People
Technology
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Banks of all types and sizes are making progress with the transformation
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
The Voice of the Customer:
1. Customer relationships are king 2. Consultative is the new transactional 3. Aligning processes delivers great experiences 4. Automation is no longer a “nice to have” 5. Omnichannel is the future 6. The universal banker is commonplace 7. Bankers need mobile access
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Assess Your Digital Channels & Technology
29
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Delivery Channel Transformation Objectives Branches are NOT dead but they must be repurposed
Objective is deeper customer relationships
Would your branches compare to an Apple Store?
New channels are additive, not a replacement cost
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Consistent experience across all channels is critical
People skills are elevated in importance
Technology silos must be dismantled
Transaction hub transforms into a sales and service center
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Shift from Bank Centric View to Focus on Customer
Customer Bank Centric Centric
How much do you know about your customer?
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Optimize Customer Experience with Channel Insights Collect Data
Analyze
360 view of customer profile and preference
Understand customer relationship with money
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
Leverage social media to monitor lifestyle and satisfaction
Where and how should you bank?
Actionable Insights • Migrate simple transactions to selfservice • Maximize digital channels • New branch locations • Get real-time monitoring and alerts • Focus on underserved customers • Simplify product sets • Targeted offerings • Peer benchmarking • Identify emerging trends
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Digital “Conversation” Easy, Engaging & Efficient Questions Uncover Customer Interests & Needs
Customer answers 2-3 questions to determine needs and preferences. System displays offers/advice using your bank defined business rules.
An Email is automatically sent to your team for immediate follow-up.
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Measure and Continually Improve
34
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
How Are You Measuring Success?
Customer Experience
Productivity
Sales Growth
How well are you delivering meeting expectations?
Are you realizing operational and staff efficiencies?
Are you effectively crossselling and upselling?
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Assign a Single Person in Charge of Effort
36
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Power of Focus
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
8 Step Roadmap to Digital & Branch Transformation 1. Start with “Why” – Understand what drives digital and branch transformation for your franchise 2. Benchmark your bank – understand where you are today: financials, branches, staff & channels 3. Get clear on your branch strategy – Highest cost channel dictates thorough understanding of the highest and best use for every branch 4. Define future staffing needs – what skillsets in which areas 5. Plan in-branch space & related technology – your specific “branch of the future” 6. Assess your digital channels and technology – Banks must master technology 7. Measure and continually improve – What gets measured gets done 8. Assign a single person in charge of effort – Accountable with enough authority and responsibility
© 2017 Fiserv, Inc. or its affiliates. |
CONFIDENTIAL – LIMITED
FORTUNE Magazine World's Most Admired Companies® 2014 | 2015 | 2016 | 2017
Thank You! Anne High Senior Strategist Fiserv Bank Intelligence [email protected] Office: 678-375-5387 Mobile: 470-955-3092
39
39
© 2014 Fiserv, Inc. or its affiliates.
