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Cisco Confidential 1© 2011 Cisco and/or its affiliates. All rights reserved.
Video Banking: The Role of Video Collaboration in Transforming the Customer Experience at Citizens Financial Group
Jason BettingerSenior Business Advisor - Financial ServicesCisco Business Transformation, The Americas
October 12, 2011
2
• Specialized Financial Services Resources
• Achieves better alignment between the business and IT
• Accelerates evaluation of solutions
© 2011 Cisco Systems, Inc. All rights reserved. Cisco Confidential 9BTAG
A Phased Approach to Deliver Business Value
Degree of Difficulty
BU
SIN
ES
S V
ALU
E (
$M
)
Leverage ResourcesAcross the Bank
Proactive Contactto Increase Sales
Employee On-Boarding and Training
Internal Video ConferencingUtilization
Enablement of the Mobile Sales Force
Eliminating Paper
Proactive Contact(Follow-up)
DifferentiatedCustomer Experience
Executive and EmployeeCommunications
Unparalleled Mobile Banking
MID TERM
LONG TERM
SHORT TERM
MID TERM
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• Long lines
• Lack of availability of product experts
• Expectation of a personalized, face-to-face experience
• Inability to provide additional expertise in real-time
• Slow/ inadequate, response for phone or Web channels
4
UC, Presence Management
and Intelligent Routing
Branch/Store
Video Conference
Combined Customer
Profile Databases
Unified Communications
Technology
Digital Communications
Recording
5
• Video endpoints
• Branch Infrastructure
• Call Routing
• Signature Capture
• Encrypted Storage
• Communicate both Internally and externally
• Get staff comfortable with technology
• Integrate with current sales processes
• Provide incentives to drive usage
• Reporting
Process
TechnologyPeople
6
The Incredible Journey of Video Banking…
Trish Cawley, SVP Citizens Financial GroupTim Skinner, VP Citizens Financial Group
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What is not to like about this picture?
8
9
Innovation’s 1st Thought…
“How in the #@*$ are we going to do this?”
10
Business Line’s 1st Thought…
“Do we really have time to do this?”
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Roadmap To Success…
SHE SAIDHE SAID
12
Innovation’s Roadmap… SHE SAID
• “Simple” Proposition and Syndication
• Create an optimal Customer (and Colleague) Experience
• Build Partnerships
• Be prepared to “SELL” throughout the journey
• Overcome barriers – “manage to yes”
• “High Touch Approach”
13
“Simple” Proposition and Syndication
Video Banking offers a unique opportunity to differentiate our value proposition…
• Provides consumers with customized on-demand professional advice through in-
branch video conferencing…
– Specialized advice on Mortgages, Wealth Management, Business Lending with
capabilities to open accounts, schedule appointments, and sign documents on the
spot in pilot branches
• Launched April 18th 2011
– 16 Branches in 4 Markets; MA, PA, IL, and NY
– 3 Business Lines; Mortgage, Wealth Management, and Business Direct Lending
14
Create an optimal Customer (and Colleague) Experience
Customer Advice Need Advice Options via Centralized Call Centers and Direct to Subject Matter Professionals
Licensed Representative can discuss financial needs, qualify leads and schedule appointments
with FCs in MA, IL, and PA
LongPen Signature Unit enables customer to sign Mortgage Application Package during Video
Session
HLSCHome Loan Advisors
Cincinnati OH
CCO Phone BankLicensed RepsSmithfield RI
Mortgage Inquiry
Investments Inquiry
Via Video Unit
Via Video Unit
Via Tablet & LongPen Unit
Customer can start and complete Business Loan applications during the Video Session
Business Direct Lending RepsCranston RI
Business Loan Inquiry
Via Video Unit
Advise Only Model
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Build Partnerships
Legal
Technology Public Affairs
Business Banking
Marketing
Wealth Management
Cisco
Retail
Innovation
Reporting
Risk/Compliance
Facilities
Mortgage
Communications
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Be prepared to “SELL” throughout the journey
Video Banking… Coming Soon
Video Banking Is Great
17
Internal Resources -Delivery MechanismsUsers
Branch
Branch
Personnel
Customers
Call Center Reps
`
Branch
Network
Corporate
Network
Call Centers•
Business Users
VPN
VPN
`
SSL/VPN
Tunnel
VPN
Overcome Barriers – “Manage to Yes”
18
“High Touch” ApproachMassachusetts
Philadelphia
Illinois
Long Island
Cincinnati
Rhode Island
19
Business Line’s Roadmap… HE SAID
• Be open-minded… believe in the vision
• Build the right team… Executive Sponsorship is key
• Identify the risks (landmines) and scope out solutions
• “Don’t re-invent the wheel”
• Do not “suffer in silence” – over-communicate
• Own the Process
20
Be open-minded… believe in the vision
+ + +
=Success
21
Build the right team… Executive sponsorship is key
22
Identify the risks (landmines) and scope out solutions…
23
“Don’t re-invent the wheel”
24
Do not “suffer in silence” – over-communicate
25
Own the Process
26
One size doesn’t fit all…