Temenos Ag · SIX:TEMN
Temenos — APAC TRF Singapore 2019
29 slides from Temenos's conference presentation, August 2019
Slide 1: Observing Unicorns Jumping Rainbows
Observing Unicorns Jumping Rainbows or How Analytics Will Help You Drive New Business By Optimising Your Bank’s Onboarding Journeys
Slide 2: Banks analyse their competitors' digital strategies (early 2019)
Banks analyse their competitors’ digital strategies (early 2019)
Slide 3: Pace Layers
Pace Layers “Even small application teams should be thinking about how they can organize to deliver according to rates of change” Source: Gartner - Pace-Layered Application Strategy and IT Organizational Design: How to Structure the Application Team for Success
Slide 4: Pace Layers
Pace Layers • Supports new opportunities System of Innovation • About a 1 year lifecycle • Supports unique processes System of Differentiation • 1 to 5 year lifecycle • Packaged software System of Record • 10+ year lifecycle Source: Gartner - Pace-Layered Application Strategy and IT Organizational D
Slide 5: Pace Layers
Pace Layers • Supports new Acquisition Digital Customer opportunities System of Innovation • About Temenos a 1Journey Manager year lifecycle • Supports Digitalunique processes Front Office System of Differentiation • 1 to 5 Temenos Infinity year lifecycle • Packaged Coresoftware Banking System of Re
Slide 6: Pace Layers
Pace Layers • Supports new opportunities System of Innovation • About a 1 year lifecycle How do we measure how banks have utilized Systems of Innovation to optimize digital customer acquisition?
Slide 7: Avoka Temenos Digital Sales Report
Since 2016, AVOKA | TEMENOS has published an annual Digital Sales Report. • Measuring how many products can be applied for on a mobile device and how easy the application process is for the user. • It quantifies banks’ onboarding performance compared to their peers over a multi-year cycle. • It answ
Slide 8: Digital readiness vs ease of use
Under Achievers Digital Promised Land (Transaction Effort Score) Ease of Use Legacy Lovers Digital Dreamers Digital Readiness (% of Personal Products that can be applied for on mobile)
Slide 9: Digital readiness vs ease of use 2017
2017 Under Achievers Digital Promised Land (Transaction Effort Score) Ease of Use Legacy Lovers Digital Dreamers Digital Readiness (% of Personal Products that can be applied for on mobile)
Slide 10: Digital readiness vs ease of use 2018
2018 Under Achievers Digital Promised Land (Transaction Effort Score) Ease of Use Legacy Lovers Digital Dreamers Digital Readiness (% of Personal Products that can be applied for on mobile)
Slide 11: Digital readiness vs ease of use 2019
2019 Under Achievers Digital Promised Land (Transaction Effort Score) Ease of Use Legacy Lovers Digital Dreamers Digital Readiness (% of Personal Products that can be applied for on mobile)
Slide 12: Investment directed to lowering application effort
2019 Under Achievers Digital Promised Land (Transaction Effort Score) Ease of Use Since 2016 investment has been directed towards lowering the effort required to apply for new products, especially Legacy Lovers on mobile Digital Dreamers Digital Readiness (% of Personal Products that can be applied
Slide 13: The New to Bank customer onboarding journey and beyond
The New to Bank customer onboarding journey and beyond
Slide 14: Digital sales conversion relies on customer attention
The New to Bank customer onboarding journey and beyond Digital sales conversion relies on customer attention What do we understand about the effect of digital processes on customer acquisition rates?
Slide 15: For every 100 prospective customers who start
The New to Bank customer onboarding journey and beyond For every 100 prospective customers who start a digital application journey
Slide 16: 85% will abandon after entering some details
The New to Bank customer onboarding journey and beyond For every 100 prospective customers who start a digital application journey 85% will abandon after entering some details…
Slide 17: Can we quantify the benefits of optimising the users' journey?
Can we quantify the benefits of optimising the users’ journey?
Slide 18: Three month program of work
• Supports new opportunities Digital Customer Acquisition System of Innovation Temenos • About a 1Journey Manager year lifecycle Mid-tier Australian • Replaced an existing digital personal loan application. Bank 78% • Did not change the product. • Did not change marketing. more applications were rec
Slide 19: Fixing Digital Paper Cuts
Fixing Digital Paper Cuts (now we know how much they hurt)
Slide 20: Observing a Digital Paper Cut in the Wild
Observing a Digital Paper Cut in the Wild… Customer: Tier 1 US bank Platinum Credit Card Product: Credit Card Application Value: USD$450 / customer / year Symptom: Abandonment Diagnostic: Transact Insights
Slide 21: Observing a Digital Paper Cut in the Wild
Observing a Digital Paper Cut in the Wild… Platinum Credit Card Diagnostic: Transact Insights
Slide 22: Observing a Digital Paper Cut in the Wild
Observing a Digital Paper Cut in the Wild… Platinum Credit Card Platinum Credit Card Cost: 11,349 × $440 = $4,993,560 Diagnostic: Transact Insights
Slide 23: Observing a Digital Paper Cut in the Wild
Observing a Digital Paper Cut in the Wild… Paper Cut: Poorly drafted consent clause Cost: 11,349 × $440 = $4,993,560 Diagnostic: Transact Insights
Slide 24: Strategic choices about capability platforms
“The imperative for every organisation [is] to make a few strategic choices about specific capability platforms on which they intend to build what we call vectors of innovation.” Escaping the Commodity Trap - The Future of Banking in Australia Price Waterhouse Coopers, 2016
Slide 25: Customer Onboarding: Minimum Required Capabilities for Success
Customer Onboarding Minimum Required Capabilities for Success • Supports new opportunities System of Innovation • About a 1 year lifecycle
Slide 26: Customer Onboarding – Detailed Customer Abandonment
Detailed Customer Abandonment API Ready Analytics Management Rapid, Safe, Iterative Omni-Channel Changes to CX Core Agnostic & Multi-Customer Responsive Web & Save & Resume And more Native App Ready Minimum Required Customer Onboarding – Capabilities for Success
Slide 27: Temenos Journey Manager customer journey orchestration layer
Temenos Journey Manager is the customer journey orchestration layer : Capture data and engage with customer DESIGN INTEGRATE PROCESS OPTIMIZE & Open UX Maestro–Interactive Design Environment Avoka Exchange + Journey Manager Journey Analytics Open UX–Use your own JavaScript Design Temenos Marketplace
Slide 28: System of Innovation
• Supports new Acquisition Digital Customer opportunities System of Innovation • About Temenos a 1Journey Manager year lifecycle • Supports Digitalunique processes Front Office System of Differentiation • 1 to 5 Temenos Infinity year lifecycle • Packaged Coresoftware Banking System of Record • 10+ T
Slide 29: Dr Christopher Wooldridge
Dr Christopher Wooldridge Head of Client Advisory, Temenos, Australia