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Customer EngagementA critical challenge for all consumer businesses – but
even harder in dull old banking
Summary1. We are really bad at our banking
• Developed Markets – Over Reliance on Debt and Poor Readiness for retirement
• Developing Markets – Low Literacy and Penetration
2. We are really good at games and Facebook - We spend 3 billion hours a week as a planet playing videogames
3. We are hardwired for play and it’s how we learn best.
4. This presents an opportunity for those institutions who are authentically interested in customer success
5. Moroku makes banking fun to help banks help their customers succeed
2014 - OECD Secretary General “The majority of the population do not have sufficient knowledge to understand even basic financial products and the risks associated with the products. A majority of individuals do not plan for the future and fail to make effective decisions to manage their finances.
Challenge for Banks• Under Growth
Pressure • Profit Pools are
shrinking• Through
• Increased Competition
• Pressure on Margins – Durbin et al
• Increased Regulation
Customers• Lots of opportunities to help
• Unbanked• Under Banked• Under Served• Wealth Management
• What they need?• Access• Education on Complex Products – or they will blow up• Success - Making Financial Progress - Saving Money, Paying
off debt
• Via an experience that is:• Functional• Enjoyable• Evolving• Values-based • Connecting• Personalised• Rewarding
• Customer Culture Imperative• Customer Success• Competing on Purpose not Price• AKA Liquidity vs NII
• Its what your customers and regulators want!
Relativity
Apply for Loan
Receive Loan
Pay off Loan
Bank definition of success
Customer definition of success
So what does Moroku Do?• We employ decades of psychology,
behavioural economics, motivational theory and game design to create rewarding , engaging banking experiences
• We have a platform – that allows banks to build and deploy fun mobile and internet banking applications
• We have a process – A design methodology that places the customer at the heart of the innovation cycle
GameSystem
Mobile App GameServer
Game Console API
GameSystem
• Mobile Libraries iOS and Android • Fast
Prototyping
• Cloud Based
• Configure on the Fly• Ads• Quizzes• Rules• Competitions• Rewards• Content
• Analytics
• Player Management
• Player Identity• Journeys• Events
• Integration• 2 Way• Security• Anonymization and
Token Services
Business Snapshot• 2 Banks Live• In Design Mode with 2• Global Distribution with a large
banking software company – Sales and Implementation
• Annuity Based Revenue Model $1/user/year
• 7 in Sydney• In the Black in FY ‘15
• Leadership• Working together for 18 years in Banking Software• Began building some of Europe's 1st Internet Banking Systems• 1 Successful exit to Sun Microsystems• Colin – B.Sc MSc Canterbury JCP, Microsoft, Sun others
www.colinweir.com • Dave B.SC Edinburgh, M.SC London Uni, JCP, Sun, Westpac, Lloyds,
Misys www.davedurbin.com