Traditional banks are being disrupted by digital natives that can integrate data and provide seamless, real-time customer experiences across all touchpoints. Watch this webinar on-demand, featuring Brett Brunick, Chief Technology Officer of TCF Bank, and Shubhra Sinha, VP of Portfolio Marketing at DataStax. Brunick and Sinha discuss delivering powerful, meaningful, and innovative experiences to banking customers across branches and digital channels.
1.Customer Experience in Banking: A CTO’s Perspective Shubhra Sinha Brett Brunick VP, Portfolio Marketing Chief Technology DataStax Officer TCF Bank
2. In a rapidly evolving world. Each new innovation accelerates expectations © 2017 DataStax, All Rights Reserved. Company Confidential
3. These cloud applications must meet expectations. CONTEXTUAL ALWAYS-ON REAL-TIME DISTRIBUTED SCALABLE © 2017 DataStax, All Rights Reserved. Company Confidential
4. Create Defining Moments. The Importance of Now! Real-time Data. Always. Everywhere © 2017 DataStax, All Rights Reserved. Company Confidential
5.Brett Brunick Chief Technology Officer, TCF Bank
6.TCF Bank • A Minnesota-based national bank holding company. • $21.3 billion in total assets • 376 branches in eight states: – Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona, South Dakota • Provides retail banking and wholesale lending services across the US. At TCF, we’re proud to offer services and opportunities designed to help improve life for our customers, our employees, and the communities we serve.
7. “ You’ve got to start with the customer experience and work back toward the technology – not the other way around ” © 2017 DataStax, All Rights Reserved. Company Confidential
8.Higher Expectations, Less Loyalty Expect superior Less tolerant experience Less loyal More informed
9.You must respond or someone else will Existing Banks increasing investment in CX User Non-traditional Players Expectations (Fintechs, Neo-banks)
10. Banking Experience Tomorrow Banking Experience Today Banking Experience Tomorrow 401K IRA HSA Savings Acct. Checking/ Home Equity & Current Accts. Mortgage 529 Checks, Credit Savings Demand Cards Car Loans Drafts 401K Bill Personal Loan Payments Checking Lockers Metals & Mortgag Certificate Jewels Loans e of Deposit Trading Stocks ID ESPP Mutual Monitorin Funds g Bonds 529 Credit Monitorin ESPP g Trust Umbrella Management Coverage Banking is Moving from Transactions to Relationships Deliver Delightful Experiences and Effortless service excellence to Customer
11. Know Your Customer Who, Wants What, Where, When, Why And How?
12.Customer Expectations Know me Simple Connected Respond Trust (Mobile first) Now Know my Keep my Accessible Inform me Keep me and my financial goals, interactions through any instantaneously, investments Needs, likes, simple, (‘don’t interface of my Don’t make me secure dislikes make me think’) liking wait
13.Typical Challenges in our Industry Account Centric vs. Channel Specific Data “Jails” Customer Centric Solutions Legacy / Batch Bank > Customer Apps / Data Business revolves Experiences and Building apps on Services & Silos around Incentives are top of 1970 solutions based accounts disconnected infrastructure on capability vs. customer need ‘Physical’ rather than digital
14.Solutions towards addressing Friction Journey Mapping– identify Customer friction vs. your own Process • Define your Customers’ Journeys (I.E relocating due to job and need local services, a new house…..) • Identify Top Customer Friction Points – Turn them into unique and differentiated capabilities Customer focus vs. “channels” and “systems” • Banks tend to be organized by financial product, channel, or systems Customers don’t Care. - Use Journeys to rethink Experience and not systems or channels • Organize your teams around the Capabilities/experiences vs. systems and channels • Focus on your “Systems of Engagement” as they drive your customer experience (Digital &Physical). - You can’t re-Image everything all at the same time Unlock the Data required for customer experiences • Abstract your data/services away from the “Core” – Data and API Platforms • Aggregate the channel/customer behavioral insights to drive analytics, digital marketing, real time personalized experiences
15.How we started Culture/Methodology • Product Model, Agile • Platform thinking • MVP • Embrace modern technology and open source Technology - Think Big, Act Now, Learn • Modernize Systems of Engagement • Modernize API and Data Platforms • Automate Everything • Embrace engineering culture, skill/tools/process deficiencies
16. TCF Ref Architecture – Engagement & Services Mobile-first approach on System of engagements in driving seamless conversation with customer Establish API Gateway to publish, monitor, & secure API’s at scale. Micro-services that can independently scale with high re-usability and run anywhere (cloud / on premise). Data Ecosystem Data Analytical DataStax Enterprise, powered by Apache CassandraTM Quality Models NoSQL database to ensure low latency, scalability, and Enterprise Data Platform high availability needed for digital (services less than 200 millisecond goal/achieved) Customer Master Data Enterprise Data Platform to store cross channel, Data Governance aggregate customer interactions for personalization, marketing, etc. Customer Master Data as single source of truth about Data Packaged Mainframes customer. Sources Apps (Ex: Shaw) © 2017 DataStax, All Rights Reserved. Company Confidential
17.Meeting expectations & driving change Expectations change constantly – build a culture, architecture, & organization to respond – It’s not a “project” New Technology is critical yet isn’t the solution/answer, address culture & ways of working Be Bold – Place key bets on people & technologies that can redefine your experiences and allow your to constantly mature & innovate
18. We are the power behind the moment. © 2017 DataStax, All Rights Reserved. Company Confidential
19. For the latest about Customer Experience, visit - CX Executive Resource Center datastax.com/CXexec Thank you