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Connected & Automated: From Lead to Sale
Alex KwiatkowskiSolution Marketing Strategist – Banking & Digital Channels
2© Misys 2015 2 May 2023
Covered in this presentation
•The secret for success in retail banking;•Why achieving a balance between service and sales is of mission-critical importance;•How personal financial management (PFM) can uncover ‘hot’ sales leads;•How advances in technology are eradicating the issues of the past when it comes converting leads into revenue;•What steps banks should take to gain tangible operational and financial benefits.
3© Misys 2015 2 May 2023
The secret for success in retail banking
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Improving the customer/bank relationship
Source: Capgemini
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Whoa!
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A hurried tactical shift from sales to service
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How will retail banking’s development be funded?
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Who is required to pay for banks’ ambitions?
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Acceptable vs. Unacceptable
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Catering to the financial needs of today’s ultra-connected consumer
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Reaching a captive audience: it’s a generational thing. Or is it?
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Sales and service objectives must coexist
Grow re
venu
es
Impro
ve cu
stomer
servi
ce
Impro
ve lo
yalty
/reten
tion
Increa
se co
st eff
icien
cy
Extend
chan
nel ra
nge a
nd fe
atures
Reduc
e cred
it risk
Extend
prod
uct ra
nge a
nd fe
atures
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.005.97 5.91 5.66 5.59 5.55 5.40
4.72
How important are the management priorities for your bank’s business?
1 = Very Low / 7 = Very High
n = 32Source: Efma
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Taking a balanced approach to sales and service
47%
19%
13%
22%
Balanced approach to existing and new to bank customersMore focus on existing bank customersMore focus on new to bank customersDon’t Know
What is the sales focus of the bank?
n = 32Source: Efma
Rating
Multichannel service 4.17
Multichannel sales (existing cust.) 4.09
Multichannel sales (new customer) 3.28
To what extent have you achieved your ultimate objectives for sales & service capability?
n = 54Source: Efma 1 = Very Low / 7 = Very High
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Making extended use of digital channels
How important do you expect digital channels to be for product sales in 2018?
Channel Simple ComplexOnline 5.89 4.78
Mobile 5.53 4.13
Telephone 4.42 3.87
1 = Very Low / 7 = Very Highn = 78Source: Efma
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Investing in innovation to improve Sales performance
Produc
ts
Chann
els
Custom
er se
rvice
and e
xperi
ence
Sales a
nd m
arketi
ng
Proces
ses
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
65%
86%78%
58%
70%
5% 1% 1%6% 3%
IncreaseDecreaseNo ChangeDon't Know
Do you expect to increase or decrease the level of innovation in 2014 compared to 2013?
n = 110Source: Efma
Function RatingChannels 5.10
CX 4.79
Products 4.61
Sales 4.52
Processes 4.281 = Very Low / 7 = Very High
How do your rate your bank’s innovation level?
n = 32Source: Efma
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Develop new products based on deeper customer understanding
58% of surveyed* banks are using micro segmentation
68% of surveyed** banks are using predictive analysis
*n = 39Source: Efma
**n = 41Source: Efma
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Making effective use of information to gain insight and drive revenue
Segmentation reports
Marketing campaigns
Transaction data
Interaction data
CI DW/DM
Clickstream data
Customer satisfaction data
Social data
Unstructured repository
EDW
Unified Access Layer
Next best action
Volume
Variety
Velocity
ValueContextual marketing
(100x better)
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Reducing friction and increasing speed with…
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Taking maximum advantage of event-based and contextual marketing
Contextual marketing is about deliveringthe right message, to the right person, viathe right medium at the right time
Yes No Don't Know0%
10%
20%
30%
40%
50%
60%
70%
43%
53%
5%
28%
65%
8%
Online channelMobile channel
Does your bank have the capability for event-based, real-time marketing?
n = 40Source: Efma
Misys FusionBanking Essence Digital
© Misys 2015 2 May 2023
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Getting everything right with advanced PFM capabilities
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“Simplicity is the ultimate sophistication”
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Customers must receive an experience which is relevant and personal
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Maximizing revenue generating opportunities
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Exploiting advances in technology to dramatically improve the sales process
r = 80 m
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How will banks find success?
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•Improving the overall customer experience does not have to occur at the expense of generating additional revenue;•Banks will achieve success by balancing sales and service activities;•STP helps reduce friction and increase speed, benefiting both bank and customer alike;•PFM should be sophisticated and simple in equal measure;•Advances in technology are dramatically transforming sales processes.
In summary
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Alex KwiatkowskiSolution Marketing Strategist – Banking & Digital Channels