The Future of Retail & Digital Banking at CAP COM Robert Roemer, Susan Fogarty & Jason Greco present the exciting future of “digital differentiation” at CAP COM!
DIGITAL TRANSFORMATION MAKES HEADLINES... 2014: 7 Ways to Navigate Digital Disruption in Banking 2015:
The Great Digital Banking Debate
2016: How Banking Can Improve the Digital Experience 2017:
Leading the Way in Digital Banking
2018:
Becoming a “Digital Bank” More Than Lipstick on a Legacy Pig
2019:
Becoming a “Digital Bank” Requires More Than Technology
2020: How Covid Permanently Changed Americans’ Financial Habits 2020: What Banking Will Look Like After the Pandemic
TIPPING POINT
DIGITAL BANKING ENROLLMENT & THE ACTIVE USER BASE SPIKED BY 14% YOY
AN AVERAGE ACTIVE DIGITAL BANKING USER LOGS IN 26X PER MO.
CONTACT CENTER VOLUME REALIZED A 25% INCREASE YOY
SECRET TO BEING DIGITALLY RELEVANT 2019 Plans Coming to Fruition
Salesforce highlights: • 360 view of members • Modern AI capabilities • Keeping human aspects
SECRET TO BEING DIGITALLY RELEVANT 2019 Plans Coming to Fruition
Member Benefits: • Differentiation • Beyond off-the-shelf • Deeper functionality
MEMBER EXPERIENCE
CAP COM leverages CRM
• CAP COM leverages CRM (Salesforce) data and Artificial Intelligence to identify a member interested in planning for her daughter’s education. • She would receive a notification about CAP COM’s College Bound program via her preferred communication channel (text message).
APPOINTMENT SETTING • Our member is very busy... she is concerned that it will be difficult to “stop in” and wait at a branch. • She finds out from the notification that it will be easy to make a digital appointment to fit her schedule.
NEXT GEN OLB / MOBILE • Member’s daughter finds out about Scholarships and submits her application. • She later logs in to a new co-branded portal and sees her scholarship has been granted. She is able to complete the acceptance documentation via DocuSign.
Branded Experiences (CSEA)
WHAT DOES THE FUTURE HOLD? • Purecloud • Financial implications of OLB • Need for better account opening • Digital signatures
FINANCIAL IMPLICATIONS OF DIGITAL BANKING SERVICES
NOW WHAT? NEXT FEW YEARS...
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DIGITAL ACCOUNT OPENING • Some vendors have this process down to 2.5 minutes • Look to provide the ability to support many funding options (debit and credit cards, ACH) • Look for opportunities to reduce the need for manual data entry via Apple / Facebook / Google account information • Salesforce can provide the automation framework • Allows us to move towards a fully digital workflow • DocuSign can be used where needed via plug-ins. • Tailored automated decisioning rules can be implemented • Allows data to immediately be available in our CRM system post account creation
DIGITAL ISSUANCE & REAL TIME PAYMENTS Move to FIS Debit Q1 2021 - credit will be mid-2021