BAI/CiscoFSI Presentation 10/11
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1) The document discusses Citizens Financial Group's implementation of a video banking program to transform the customer experience. 2) The program allows customers to access specialized financial advisors via video conferencing to get personalized advice and complete transactions. 3) The implementation is a phased approach, with an initial focus on improving the mobile sales force, followed by increased internal video conferencing and ultimately delivering an unparalleled mobile banking experience.
BAI/CiscoFSI Presentation 10/11
- 1. Video Banking: The Role of Video Collaboration in Transforming the Customer Experience at Citizens Financial Group Jason Bettinger Senior Business Advisor - Financial Services Cisco Business Transformation, The Americas October 12, 2011 © 2011 Cisco and/or its affiliates. All rights reserved. Cisco Confidential 1
- 2. • Specialized Financial Services Resources • Achieves better alignment between the business and IT A Phased Approach to Deliver Business Proactive Contact Value Differentiated Customer Experience to Increase Sales Unparalleled SHORT TERM MID TERM Mobile Banking • Accelerates evaluation of Employee On-Boarding and Training Leverage Resources Across the Bank BUSINESS VALUE ($M) solutions MID TERM LONG TERM Executive and Proactive Contact Employee (Follow-up) Communications Internal Video Conferencing Utilization Enablement of the Eliminating Paper Mobile Sales Force BTAG © 2011 Cisco Systems, Inc. All rights reserved. Degree of Difficulty Cisco Confidential 9 2
- 3. • Long lines • Lack of availability of product experts • Expectation of a personalized, face-to-face experience • Inability to provide additional expertise in real-time • Slow/ inadequate, response for phone or Web channels 3
- 4. UC, Presence Management and Intelligent Routing Branch/Store Video Conference Digital Communications Recording Combined Customer Profile Databases Unified Communications Technology 4
- 5. Process • Integrate with current sales processes • Provide incentives to drive usage • Reporting People Technology • Communicate both • Video endpoints Internally and • Branch Infrastructure externally • Call Routing • Get staff comfortable with • Signature Capture technology • Encrypted Storage 5
- 6. The Incredible Journey of Video Banking… Trish Cawley, SVP Citizens Financial Group Tim Skinner, VP Citizens Financial Group 6
- 7. What is not to like about this picture? 7
- 8. 8
- 9. Innovation’s 1st Thought… “How in the #@*$ are we going to do this?” 9
- 10. Business Line’s 1st Thought… “Do we really have time to do this?” 10
- 11. Roadmap To Success… HE SAID SHE SAID 11
- 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” 12
- 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 13
- 14. Create an optimal Customer (and Colleague) Experience Customer Advice Need Advice Options via Centralized Call Centers and Direct to Subject Matter Professionals HLSC LongPen Signature Unit enables customer to Mortgage Inquiry Home Loan Advisors sign Mortgage Application Package during Video Cincinnati OH Session Via Video Via Tablet & Unit LongPen Unit CCO Phone Bank Licensed Representative can discuss financial Investments Inquiry Licensed Reps needs, qualify leads and schedule appointments Smithfield RI with FCs in MA, IL, and PA Via Video Unit Advise Only Model Business Direct Business Loan Customer can start and complete Business Loan Lending Reps Inquiry applications during the Video Session Cranston RI Via Video Unit 14
- 15. Build Partnerships Legal Risk/Compliance Wealth Technology Public Affairs Management Business Banking Reporting Retail Marketing Mortgage Innovation Cisco Facilities Communications 15
- 16. Be prepared to “SELL” throughout the journey Video Banking… Coming Soon Video Banking Is Great 16
- 17. Overcome Barriers – “Manage to Yes” Users Delivery Mechanisms Branch Internal Resources - Network Branch ` SSL/VPN Tunnel Branch Personnel VPN Customers VPN Call Centers • Corporate Network VPN Call Center Reps Business Users ` 17
- 18. “High Touch” Approach Philadelphia Massachusetts Cincinnati Illinois Rhode Island Long Island 18
- 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 19
- 20. Be open-minded… believe in the vision + + + = Success 20
- 21. Build the right team… Executive sponsorship is key 21
- 22. Identify the risks (landmines) and scope out solutions… 22
- 23. “Don’t re-invent the wheel” 23
- 24. Do not “suffer in silence” – over-communicate 24
- 25. Own the Process 25
- 26. One size doesn’t fit all… 26