[01]
Financial forms
„95% of Application Forms in Financial Services (such as bank account opening, loan applications or insurance claims) are not Omni-Channel 2.0-ready, and therefore deliver a broken, unfriendly customer transaction experience resulting in form abandonment. ”
[Source: http://www.avoka.com/application-forms-financial-services]

[02]
Omnichannel and competition in financial services
„A recent Neustar-sponsored omni-channel survey found that 90% of financial services marketers believe an omni-channel strategy of personalizing and synchronizing experiences across customer touchpoints is very important or important to their organizations.
Financial services companies all face the same challenges: to acquire new customers in a fiercely competitive marketplace. With nearly 2/3 of all mobile phone owners now using their phones to go online, companies need to leverage their customer data into actionable intelligence to create a seamless omni-channel experience. ” [May 21, 2014 ]
[Source: http://www.neustar.biz/blog/video-omni-channel-marketing-tips-for-financial-services-marketers]

[03]
Consumer engagement across channels (US, financial services)
The report from the U.S. Federal Reserve Board found that banking services accessed by U.S. Internet users during a previous 12-month period included (by % of respondents):
• 85% visited a bank branch
• 74% used an ATM
• 74% used online banking
• 34% used telephone banking
• 29% used mobile banking
• 15% made a mobile payment
[Source: Federal Reserve Board, „Consumers and Mobile Financial Services 2013” March 27, 2013. http://wwwimages.adobe.com/content/dam/Adobe/en/solutions/financial-services/pdfs/overview-fsi-omni-channel.pdf]

[04]
Omnichannel Doesn’t Have A Gender
The „Myth of the Mansumer” study, which surveyed more than 1,700 consumers, found that the differences between men and women (at least when it comes to shopping) are virtually non-existent. Thanks to online shopping and retailers taking an omnichannel approach, technology appears to be bringing the era of the „Mansumer” to a close just a few short years after the term was coined for the first time in 2012. ”
[Source: http://www.the-future-of-commerce.com/2014/11/25/the-myth-of-the-mansumer-omnichannel-levels-the-shopping-field/]

[05]
Banki i FMCG
„Banki konkurują poprzez kreatywność i szybkość wprowadzania nowych produktów. Bankowość bardziej przypomina dziś obszar FMCG, gdzie na rynek trzeba bardzo szybko wprowadzać nowy towar, który w krótkim czasie przestaje nadawać się do „spozycia”. Nowoczesne narzędzia IT potrafią zaś ułatwić wprowadzenie na rynek nowego produktu szybciej niz konkurencja. ”
[Źródło: Jaromir Pelczarski, wiceprezes banku BNP Paribas odpowiedzialny za operacje i wsparcie, w rozmowie z Adamem Jadczakiem (Itwiz), 12 grudnia 2014. http://itwiz.pl/dzis-nie-ma-juz-projektow-informatycznych/.]

[06]
Banki unikają sieci
Tylko 18 proc. banków, towarzystw ubezpieczeniowych i innych instytucji finansowych prowadzi sprzedaz w sieci.
Na przeciwnym biegunie są spó łki transportowe i logistyczne, z których az 67 proc. sprzedaje usługi on-line. Produkcja, ze wskaźnikiem 49 proc., lokuje się w środku stawki – wynika z badań „Wpływ Internetu na gospodarkę w Polsce”, przygotowanego przez IAB Polska i PwC. Wśród przedsiębiorstw prowadzących sprzedaz przez internet 23 proc. ma swój e-sklep.
Popularniejsze są zewnętrzne platformy i proste formularze zamówień pozbawione funkcjonalności związanych z ich dalszą automatyczną obsługą. 92 proc. ankietowanych kontaktuje się z klientami za pomocą poczty elektronicznej. Z aplikacji mobilnych korzysta mniej niz 10 proc. firm uczestniczących w sondazu. ”
[Źródło: Mirosław Konkel, Banki unikają sieci, Puls biznesu, 3 grudnia 2014]

[07]
Omnichannel: banks and retailers
„Banks are no longer just competing with each other, they are also at war with a growing number of retailers and innovative start-ups that employ social media tactics to offer sought-after services. [...] „The fastest growing financial services institutions are retailers, grocery store chains and automotive companies. They have adopted the omnichannel [approach] more aggressively than the banking industry”, says Ralph Silva, director at SRN. ”
[Source: https://www.cisco.com/web/strategy/docs/finance/leadership_ser.pdf]

[08]
The omnichannel vs. multi-channel approach
„ [W]hat is omnichannel banking and how does it really differ from its cousin «multi-channel banking»? The multi-channel approach came to the fore several years ago, when banks launched online platforms and encouraged customers to use call centres for their everyday banking needs. The number of touch points increased, but with expansion came more complicated IT systems. Additional channels were bolted on to legacy platforms but many banks struggled to offer a joined-up approach to servicing customers. As consumers ourselves, we intuitively know this to be the case. For example, how many times have you been offered an unwanted loan by your branch and subsequently been targeted with the same question while carrying out your online banking?
From the customer’s perspective, omnichannel banking continues to offer access to financial services across a variety of channels and introduces more consistent interactions with the banking brand across the various touch points. The bank will be able to analyse the information being fed in from different channels so that it can build up a detailed and accurate picture of the customer’s preferences and behaviour. The boom in smartphone apps coupled with this more detailed customer view means that banks will be able to offer app-based services such as budgeting or financial planning via the mobile: a relatively untapped service to date. ”
[Source: Alison Wilkes, General Manager, EMEA Banking Division, FIS. http://www.bankingtech.com/156062/omnichannel-the-new-normal-for-retail-banks/. ]

[09]
„[T]he omnichannel experience will become a key competitive differentiator among banks. Banking customers across the globe – and India is not an exception – use multiple channels often even for a single transaction. This trend is also fueling customer expectations that transcend transactions into the realm of experience. Customers expect a banking experience that is seamless, consistent and contextually and personally relevant. ” [Source: Anuradha Mallya. The evolution of banking channels in India. October 30, 2014. http://www.infosysblogs.com/finacle/2014/10/the_evolution_of_banking_chann_1.html]

[10]
„[I]dentifying banking preferences in aggregate only tells part of the story. In order to truly understand preference, financial institutions need insight into which channels consumers use for their specific banking activities. For example, banks won’t have much luck touting their automated drive-up teller technologies to customers that prefer banking via smartphone app.
In today’s world, companies and brands need to be online. And that includes banks and financial firms. In fact, 77 percent of consumers say they prefer to pay their bills online. Mobile consumers prefer checking their account balances using their smartphones or tablets, and most consumers prefer to make deposits and seek investment advice in the branch.
And when it comes to cold hard cash, there’s currently no substitute for the physicality of an ATM that dispenses paper currency – the preferred method for withdrawing money. Got a problem? That’s what the call centers are for, which is how most consumers say they seek to resolve any questions or issues they have with their accounts.
After all, there’s less benefit in trying to engage a Web-savvy consumer with a highway billboard. And the same is true when it comes to banking. If it’s not convenient or feasible for a customer, he or she is bound to find the convenience they’re looking for somewhere else. And with myriad choices available, consumers won’t have to look far to find what they’re looking for. ”
http://www.nielsen.com/content/dam/corporate/us/en/images/news-trends/2014/the-evolution-of-modern-banking-image2.png
[Source: THE EVOLUTION OF MODERN BANKING. Nielsen Newswire. March 19, 2014. http://www.nielsen.com/us/en/insights/news/2014/the-evolution-of-modern-banking.html]
[The Nielsen study was based on an online survey of U.S. consumer households in November 2013. The study included questions on channel usage, drivers of channel usage and barriers of channel usage.]

[11]
„There are clear preferences when it comes to channel specialization.
• For the branch, respondents indicated a preference for delivery of expertise and personalized advice.
• For mobile, the top priorities were real-time alerts (linked to PFM), location-based offers, and mobile payments.
• Social networking as a banking channel is still lagging (only 1 percent of respondents in developed countries and 8 percent in emerging markets chose it as a preferred channel for some of their banking transactions), mainly because of privacy concerns. The most promising apps are FS learning communities, friend referral, and financial games / competitions.
Video has gained mainstream support as a channel for advice and interaction in the form of high-definition video conferencing (most of those interested are Gen Xers and the early majority when it comes to technology adoption). Video is the virtual channel best positioned to build trust («seeing is believing»). ”

[12]
„Consumers are increasingly demanding «anything, anywhere, anytime» banking services. Banks face the enormous challenge of delivering a easy, convenient and engaging service to their customers through the channel of their choosing. Delivering this, and keeping up with customer expectations, is requiring bankers to collaborate, innovate and build new capabilities at an unprecedented pace. In this session, you will hear global experiences and best practices from a leading consulting expert and an experienced practitioner. ”
[Source: https://www.bai.org/retaildelivery/conference-expo/omni-channel-delivery-summit#]

[13]
BNP Paribas Cardif in Chile introduced corporate website content into sign language in order to make it more accessible.

[14
„As the capabilities of mobile applications increased, the expectation of mobile apps being used to augment a PC-based experience has long since vanished. Considering the relatively recent proliferation of mobile device types (phones, tablets, phablets, wearables, etc.) and how effective a good app is at streamlining a web-based service, it’s easy to see why mobile usage is still on the rise.
While not an unforeseen event, this shift in web consumption certainly caused a few headaches in the analytics realm. Anyone exposed to the world of cross-platform analytics can attest to the limitations of implementing traditional web analytics software on mobile applications. ”
[Source: Michael Fitchko. The Value of Mobile Analytics. Oct 29, 2014. http://captechconsulting.com/blog/michael-fitchko/the-value-mobile-analytics]

[15]
[Source: Michael Fitchko. The Value of Mobile Analytics. Oct 29, 2014.http://captechconsulting.com/blog/michael-fitchko/the-value-mobile-analytics

[16]
„Almost 30 percent of mobile banking users indicate that they receive text messages alert from their bank. Among those receiving alerts, 63 percent receive „low-balance alerts, ” 39 percent receive „fraud alerts” 37 percent receive „payment-due alerts, ” and 8 percent indicate that they receive „savings reminders”. Consumers who receive a low balance alert from their bank nearly all report taking some action in response: transferring money into the account with the low-balance (54 percent), reducing their spending (36 percent), or depositing additional money into the account (24 percent). Only 14 percent reported taking no action in response to receiving a low-balance alert. ”
[Source: http://www.federalreserve.gov/econresdata/consumers-and-mobile-financial-services-report-201303.pdf]

[17]
„[W]e are seeing the following in the new branch design by banks:
More Self-service Options (By offering additional self-service options at the physical location, the amount of tellers needed to complete services can be decreased.)
Tellers with Tablets (As mentioned in our previous post, tablets can be used to meet numerous needs, including compliance requirements, signatures and sales tools.)
Cash Recyclers (These will reduce the amount of cash branches need to keep on hand for daily transactions, as well as how much time tellers must spend managing that cash, teller cash automation solutions can be fully integrated into a variety of network configurations and are flexible enough to accommodate existing teller software.)
Tellers in Pods (Provide better access to customers at the forefront of the physical branch.)
Coffee Stations (To offer a more comfortable atmosphere for customers.)
Business Centers (Making the most of space, banks are now offering business centers for use by their commercial clients.)
Conference Rooms (Same as above.)
Generalist Employees (Employees who can do anything in the bank instead of only selling or only completing transactions, for example.)
Video & P2P ATMs (Check out our previous blog for more information.)
Smaller Branches
 • Before: 10,000 sq. ft.
 • Moving Forward: From 3,000 sq. ft. to as small as a kiosk”
[Source: http://www.vitex.com/bank-consulting/bank-branches-evolution-delivery-channels/]

[18]
„Mobile banking – either via tablet or smartphone – is a distant preference compared with the other more traditional channels, but it is gaining momentum. The use of call centers, however, is trending the opposite direction, making it the least-utilized channel among consumers. So the bottom line for financial institutions is that staying abreast of consumer banking preference will help maintain loyalty, engage new customers and serve consumers wherever they want to bank. #x201D; [Source: THE EVOLUTION OF MODERN BANKING. Nielsen Newswire. March 19, 2014. http://www.nielsen.com/us/en/insights/news/2014/the-evolution-of-modern-banking.html] [The Nielsen study was based on an online survey of U.S. consumer households in November 2013. The study included questions on channel usage, drivers of channel usage and barriers of channel usage.]

[19]
European executives expect that direct channels will become the main client acquisition channel.
WE = Western Europe, CE = Central Europe, EE = Eastern Europe, SE = Southern Europe, BE = Belgium.

Especially retail banking executives from Central Europe expect to get more new clients via direct channels (58% of them expect to acquire over 20% more customers using these digital channels).
Second comes Western Europe where 38% of respondents expect direct channels to account for over 20% of new customers.
Eastern Europe ranks third (21%), leaving Southern Europe far behind.
[Source: Roland Berger Strategy Consultants. The Future of Retail Banking in Europe: Top Executives’ Survey 2013. Brussels, September 27, 2013. http://www.rolandberger.be/media/pdf/Roland_Berger_RetailBanking_20130927.pdf]

[20]
Especially mobile banking will continue to grow but challenges will need to be managed carefully
WE = Western Europe, CE = Central Europe, EE = Eastern Europe, SE = Southern Europe, BE = Belgium.

• Digital channels (social networks, low cost digital offers, ) have been identified as the primary investment area for banks to develop non branch-acquisition
• With regards to major challenges banks face with the rise of mobile banking
 • 90% believe it will facilitates the entry of new/disruptive players
 • 80% believe clients will switch products more easily to other banks
[Source: Roland Berger Strategy Consultants. The Future of Retail Banking in Europe: Top Executives’ Survey 2013. Brussels, September 27, 2013. http://www.rolandberger.be/media/pdf/Roland_Berger_RetailBanking_20130927.pdf]