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Online Channel OptimizationSM
Redefining Online Banking So It’s More Personal for Your Customers and More Profitable for You
Online Channel Optimization
For consumers, “online” is about convenience. It’s about instant access to their information, real-time interactions and security. It’s also about using the latest online technology, enjoying a relevant, personalized experience and feeling a sense of community.
For your financial institution, delivering the optimal
customer experience online is more complex. It’s about
managing and integrating the technology that powers
your entire online channel, keeping up with the rapid
pace of innovation, designing a superior user experience
and transforming transactional and behavioral data
into actionable intelligence — all while surpassing your
financial institution’s business goals.
The Evolution of the Online Banking Channel
The online channel will evolve on a continuum of new features, enhanced banking, bill payment and value-added services as well as content that is contextual to each consumer, at each interaction. In order to optimize return on investment, financial institutions will be expected to keep up with the rapid pace of innovation while guarding against a disjointed user experience or high integration and maintenance costs.
The definition of “online” will continually change as
new waves of consumers, whose formative years online
are shaped by leading-edge Web experiences, use new
technology and devices to interact and transact online.
This introduces heightened consumer expectations and
forces your financial institution to face new levels of
complexity in anticipating the customer’s next desire
as well as your competitor’s next move.
Online, Redefined
The CheckFree approach to optimizing your online
channel is simple. We help you deliver a world-class
user experience that enables you to “optimize” every
customer touch point, allowing you to deepen customer
relationships and ultimately capitalize on each
precious interaction.
Our approach to integration and deployment enables you
to rapidly — and seamlessly — deploy new innovations
and enhancements with the degree of control and
integration that is right for your organization, at the
lowest total cost to serve that channel.
Growth in transactions made online will outpace transaction growth in all other innovations introduced to date (ATMs, branches and call centers). By 2010, the Internet will handle 31 billion consumer banking transactions per year, compared with 17.8 billion transactions through call centers and 14.7 billion each through branches and ATMs. (TowerGroup, October 2007)
A Richer Online Experience for Your Customers — Increased Control and Profitability for You
CheckFree solutions help your financial institution reach
its goals of driving online revenue, increasing share of
wallet and lowering servicing costs — all while offering
your customers a rich, easy-to-use and secure online
experience through your website. Doing so requires
varying degrees of control and integration behind the
scenes, and this is inherent in our overall approach.
Optimizing the User Experience
Usability is a key differentiator for CheckFree. In fact,
we invest more than $80 million annually in research
and development targeted specifically to the online
channel. The output of this significant investment is
a next-generation user experience that incorporates
deep consumer insight from consumer research
studies, segmentation models, usability tests and rapid
prototyping. With this insight, products and services can
then be tailored to individual consumer segments to
maximize adoption and usage, drive deeper relationships
and increase profit per customer household.
Optimizing the “R” in ROI
Financial institutions must be able to deliver profitable
returns from the online channel, as with other traditional
channels. Industry research shows that households who
use online banking services, such as electronic billing
and payment, utilize more banking products, carry higher
balances, are less likely to leave the institution and are
more profitable than customers who do not use these
services. By layering a suite of premium services into
this optimal online environment, financial institutions can
increase the profit-per-customer even more.
The online banking channel will outpace every other channel in growth of transactions, increasing more than 27 percent annually and slowly becoming the most powerful channel the bank has ever deployed. (TowerGroup, October 2007)
What Do We Know About Current Consumer Perspectives Toward Their Online Banking Experience?
Consumer behavior and attitudes show us nn
that demographics and income should not
be considered stand-alone indicators of a
consumer’s propensity to adopt and use online
banking and bill pay services.
Consumers see their bank’s online channel as nn
a natural vehicle to connect to the community
around them and exchange tips about
budgeting and managing money.
Most consumers who feel valued by their nn
financial institution are open to being cross-
sold other products and services, provided
the offers are relevant and contextual.
Most consumers expect their online nn
bank to recognize them, based on past
behaviors and customer data, and to offer
a more personalized experience based
on that information.
(Source: CheckFree Ethnographic Research, November 2007)
At CheckFree we are focused on delivering bottom line
impact so that your financial institution can achieve the
business goals of your online channel. To accomplish
this, we integrate best-in-class online banking, electronic
billing and payment, and value-added services into one
seamless user experience that leverages behavioral and
transactional intelligence inherent in our infrastructure.
This allows financial institutions to target the right
audiences with the right messages and cross-sell other
banking services when they are relevant to the customer
and profitable for your institution.
Avid use of multiple online services leads to increased profitability. Source: “Case Study: SunTrust Quantifies the Profitability Impact of eBill Usage,” (Forrester, March 5, 2008)
Optimizing Deployment of the Service
In order to serve the needs of the entire financial
services marketplace, CheckFree focuses on providing
total flexibility in terms of service deployment. In addition
to hosted services, CheckFree also continues to focus
on enhancing its enterprise software solutions which
can be run by financial institutions on-premise and
managed within their data centers. Hybrid options provide
a spectrum of hosted, software, and/or Web services
combinations that can be tailored to each institution
based on their desired approach.
Regardless of the deployment model, financial institutions
must consider their desired customization of the user
experience, level of integration with other online services
and degree of burden they are willing to assume.
CheckFree is best positioned to help each institution
through the deployment process by engaging our
experienced professional services team to provide end-
to-end deployment consultation. As a result, financial
institutions have CheckFree as a true partner to guide
them through the implementation of any approach, be it
hosted, software or a blend of services. This approach
ultimately helps support an institution’s multi-channel
strategy for branch, ATM, call center and the Web.
A Collaborative Partner Committed to Your Success
Since the inception of online banking and bill pay,
CheckFree has helped financial institutions drive valuable
consumer and business interactions through their secure
sites. Our approach to online channel optimization is
focused on providing:
Market leadership in a proven usability approach nn
with a well-rounded offering of financial services that
together deliver a best-in-class user experience
A focus on delivering the solutions you need in order nn
to better monetize the potential of the online channel
and drive increased profitability and market growth
More than 25 years of proven execution and nn
leadership from a partner who is dedicated to
delivering world-class financial services technology
to you and your customers
Seamless integration of the industry’s leading nn
online banking, electronic billing and payment, and
value-added services with core banking systems to
provide end-to-end financial services from a single
technology provider
CheckFree Solutions
Online Banking Consumer Bankingnn
Business Bankingnn
Personal Financial Managementnn
Mobile Banking nn
Remote Deposit Capturenn
Alertsnn
E-statements nn
Online Transfers nn
Online Account Opening and Funding nn
Comprehensive Self-Service Toolsnn
Electronic Billing and PaymentElectronic Bill Presentment and Paymentnn
E-billsnn
Expedited Paymentsnn
Credit/Debit Card Paymentsnn
Business Bill Pay nn
Business Invoicing Presentment and Paymentnn
Payment Warehouse Solutionsnn
Security and Fraud PreventionMulti-Factor Authenticationnn
Fraud Detection, Alerts and Preventionnn
Cross-Sell and Up-Sell SolutionsCampaign Managementnn
Adoption Marketing Servicesnn
Consumer Researchnn
Data Analytics Servicesnn
Technology and Connectivity SolutionsApplication Solutionsnn
Hosted Solutionsnn
Web Servicesnn
Open Financial Exchange (OFX)nn
Optimize Your Online Channel
CheckFree provides flexible Online Channel Optimization
solutions that are designed to help financial institutions
maximize their online potential and drive increasingly
more profitable relationships. Each solution delivers
what you’ve come to expect from CheckFree —
state-of-the-art security, industry-leading usability and
a proven track record in quality product development
and technology innovation.
From online banking, electronic billing and payment
and fraud management, to information services and
other value-added financial services, CheckFree has
been helping organizations optimize financial services
technology for more than 25 years.
For more information about how CheckFree can help you optimize your online channel, please call us at 800-830-3755, e-mail us at [email protected] or visit our website at www.checkfree.com/optimize
We’re in the Business of Helping You Grow Your Business
Online Channel Optimization for Financial Services
Envision An Optimized Experience at Every Touch Point
scorecard
EXISTINGCUSTOMERS
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CUSTOMERS
SARAH’S SECURE ONLINE ENVIRONMENT
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PERSONALIZEDOFFERING
MOBILE
ONLINE MONEYMANAGEMENT
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ONLINE MONEY MOVEMENT
E-BILLS AND E-STATEMENTS
CARD-BASEDPAYMENTS
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SARAH’SINVESTMENTS
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CONSUMER INSIGHTS
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SARAH’S MONEY MARKET
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Increased ProfitabilitySECURITY AND
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PAYTODAY
EXPEDITEDPAYMENTS
More than ever, financial institutions are now poised
to tap into the power of the online channel to enhance
and monetize a strong, recurring online banking and
bill payment relationship, while anticipating and
delivering on their customers’ changing needs.
The result? Your end-users are empowered
to better manage their finances, achieve
key personal milestones and forge a trusted
relationship with your institution.
Flexible deployment, a secure infrastructure
and industry-leading consumer insights enable
your organization to meet its needs – and your
goals – every step of the way.
When you partner with CheckFree, you leverage our
extensive experience in usability, consumer insights,
operational quality and deployment of online financial
services to deliver the solution you need to optimize your
online channel. Transform your online channel into a
profit-rich hub of interaction with your customer base.
4411 East Jones Bridge Road, Norcross, GA 30092
800.830.3755
CheckFree is a registered trademark and Online Channel Optimization is a service mark of CheckFree Corporation. Other products referenced in this material may be trademarks or registered trademarks of their respective companies.
© Copyright 2008 CheckFree Corporation. All rights reserved.
30-56-8-COL 11/08
