Credit Suisse s successful digital transformation - a look back and ahead

Transcription

1 Credit Suisse s successful digital transformation - a look back and ahead

2 3 Key Trends from 2014 are still shaping our Industry today and some say it s a Kodak moment for Our Industry Regulatory Tsunami Digital disruption Client empowerment Increasing regulatory oversight drives increased focus on automation Typical bank IT change budget is 50 65% 1 allocated to compliance Commodification of WM services Data & Analytics automating personalized services Mobile and Social pervasive access to content and community Engagement in decision making sets apart a new breed of Tech savvy millennial investors and emerging market HNW investors Information overload, but also a more informed investor than ever before Implications: Size/scale matters compliance is expensive Automation critical to ensuring adaptability: Auto authentication Automating rules 1 BCG, IT Benchmarking report, Source: Credit Suisse Embracing digital, whilst maintaining brand differentiation, is key Making a multi-channel model (RM + Digital) work, online and offline together are more powerful than Digital in isolation Focus on new digital business capabilities: Data driven insight Client-centric design thinking and Simplicity of the user experience 2/13 2

3 Rehaul PB APAC Platform to be digital ready Our Digital Journey in Private Banking Asia Pacific Client Reporting Core-Banking Front-Office Workplace Order Mgmt Systems Digital Private Banking started 2014 started in 2011 and continues Delivered a new client reporting solution for the Private Banking Asia Pacific booking centers based on vendor product Upgraded and harmonized under one instance the Temenos T24 core-banking solution for the Private Banking Asia Pacific booking centers Introduced a business process engine for the Private Banking Asia Pacific Front Office based on 2 vendor products (Temenos Wealth Manager and Appway) Automated front-to-back trading flows with a central compliance rule engine based on two in-house systems (My Solutions and Spirit Asia) for PB APAC Developed Credit Suisse s new award winning channel for Private Banking clients to access the bank s services digitally Sample of digital innovation Digital Private Banking Credit Suisse Invest See next sections for details Aggregation RM Ecosystem Client Activators Product & Sales Enablement Ongoing Initiatives RM Ecosystem started 2015 Digital Client Onboarding started 2016 Credit Suisse APAC started 2016 Optimized user experience for Front Office, building on functions, data & business processes from the renovated Private Banking Asia Pacific Platform Commenced the digital occupation of Client / RM interaction during physical meetings by renovating the client onboarding and IPQ renewal process. Partnering with Fintechs. First partnership recently announced with Mesitis and their client account aggregation product Canopy which has been integrated into Digital Private Banking. Digital Onboarding Data Platform Automation & Self Service 3/13 3

4 Our digitization program requires us to fundamentally rethink many business processes it is a new Service Model New Client Front End experience Leading to a new Service Model Client-centric 360 view of client relationship Personalized Clients can opt to receive multiple notifications including trade status, market data and new documents Near real-time Processes and systems must support 24/7... Multi-channel Seamless service across online and offline, embracing appropriate Fintech capabilities and offerings... Paperless Digitalising key processes to satisfy client demands... Please note that the above is for illustrative purpose only and does not constitute an offer or a solicitation to buy or sell any interest or any investment 4/13 4

5 Building for Clients and with Clients, we continuously support our clients with enhanced features... Portfolio Overview Trading Tools Market News & Research Curated Content Biometric Access edocuments & Go Green Token Free Login A Strategic Roadmap for future development New Features prioritised based on business strategy and client feedback Watchlist Collaboration Tools Risk Analyzer Mobile Experience Build in house, or partner with Fintech to deliver to Credit Suisse eco-system First release - our Minimum viable Product Enhancements to the Minimum Viable Product Additional Features A Roadmap of new features Please note that depending on the country of residence or incorporation, clients may not be eligible for access or certain features may be restricted or not available. 5/13 5

6 Fintech Partnership* to enable Aggregated Reporting and Analytics for our clients Clients Demand for: Consolidated view of Wealth Canopy s Unique Offering: Aggregation and Analytics How many Apple shares do I hold in total? UHNW clients typically diversify holdings across geographies and custodians New insights, need for advice from Trusted Advisor Canopy helps client to understand aggregated performance and exposure; Secure and Convenient via the app, data remains anonymous For illustrative purposes only * Canopy is a 3 rd party account aggregation service offered by Mesitis w hich can be accessed via Credit Suisse Private Banking Asia Pacific app by clients (Booked and Managed in Singapore) w ho have subscribed to the service with Mesitis. 6/13 6

7 Combining Technology with Human Touch delivering the new Credit Suisse Invest advisory offering Interactive and transparent monitor and track client s Credit Suisse Invest portfolio, against their selected model portfolio Detailed and extensive comprehensive reports on portfolio quality with ability to drill down into the details and highlight risk issues that require client s attention Accurate and timely notifications on latest investment ideas and market updates, customized to client s chosen strategy and preferences Convenient and user-friendly 24/7 online access with ability to make contextual contact directly to the Relationship Manager via the app. 7/13 7

8 And our client traction on the platform is strong Scalable offering in place and strong momentum in onboarding of clients: 3.6x 3.2x 2015 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Scalability of offering (geographies, client types, devices, features) Client engagement is high, with focus on key features and rapidly increasing execution rates User engagement 10 logins per month (with increasing trend) ~10 mins per login Source: Credit Suisse Most used features Portfolio Research Trade Top features by no. of page views I know my financial situation I have access to insights I am empowered to act on opportunities High trade volumes reflect strong user engagement 9x Q Q Q Q Q x Non User Active User Average number of trades per client within a month 8/13 8

9 Clients Access the Award Winning Digital Private Banking Suite, Relationship Managers Benefit from RM Ecosystem Clients Utilize Credit Suisse Private Banking Digital Capabilities Award-winning digital platform for both Mobile Devices and Desktop Clients are able to check portfolio details and market news, access to CS Investment Strategy and Research materials as well as trade equity and FX Client Facing Employees (Relationship Managers) Utilize the internal digital platform RM Ecosystem Provides all information and capabilities needed to serve our clients in the best possible way Connects to various systems on the technology platform and integrates processes for Front Office Simple Smart Seamless Intuitive app-like interface is simple to use Key client information is surfaced drill down into all details that are needed Google-like search across client, positions, documents, research, and more Market impact on clients at a glance Integration of Platform capabilities from Core Banking, Trading, DPB and Research Time saving by integrating FO processes 9/13 9

10 Digital Client Onboarding Offering Benefits Modular Entry Reassign to ARM Paperless Account Opening via ipad IPQ Renewal via ipad Allow quick toggle between sections Easy switch between RM & ARM No more data input; no more transcription-error OCR Faster Turnaround Hassle-free Scan the ID/passport by taking a PIC Full front-to-back automation IPQ Workflow completed from ipad Digital Forms E - signature Digital Leader New clients Singapore Booked Meeting happens in Singapore All Existing Clients All Account type Meeting happens in Singapore No more heavy stack of AOD forms ONE signature Differentiating Offering 10/13 10

11 Building an Agile delivery capability: how was it different from our traditional IT Program? Empowered Teams: small, agile, accountable & quick decisions Communication s: Daily stand ups with instant communication Collaboration: Co-location of business and IT, and embracing Fintech to bring new capabilities to clients Agility: Automation of integration, deployment and testing Quality: Pairing developers to improve quality Client-centric: From building for clients to building with clients Source: Credit Suisse 11/13

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13 Important Information This document was produced by and the opinions expressed herein are those of Credit Suisse AG ( Credit Suisse ) as of the date of writing and are subject to change. It has been prepared solely for (i) information purposes, and (ii) the reference of the recipient. It does not constitute a request nor an offer or recommendation by or on behalf of Credit Suisse to any person to buy or sell any particular investment product or to participate in any other transactions. The only legally binding terms are to be found in the applicable product documentation or specific contracts and confirmations prepared by Credit Suisse. No offer of any interest in anyproduct will be made in anyjurisdiction in which the offer, solicitation or sale is notpermitted, or to whom itis unlawful to make such offer, solicitation or sale. Not all products and services are available to citizens or residents of all countries. Any reference to past performance is not necessarily a guide to the future. Although care has been taken to ensure that the information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable, Credit Suisse does not make any representation as to the accuracy, reliability and/or completeness of the information and analysis contained in this document and does not accept liability for any direct, indirect, incidental, specific or consequential loss and/or damage arising from the use of or reliance on such information or analysis. The information contained in this document is for general purposes and is not intended (and should not be construed) as legal, accounting, tax nor financial advice or opinion provided bycredit Suisse. It is recommended that you independently assess, with your professional advisors as you may deem appropriate, the specific financial risks as well as legal, accounting, tax and financial consequences. The product /service/transaction which is the subject of this document maynot be applicable or suitable for a client's specific circumstances or needs. A Credit Suisse affiliate may have acted upon the information and analysis contained in this document before being made available to clients of Credit Suisse. A Credit Suisse affiliate may, to the extent permitted by law, participate or invest in other financing transactions with the issuer of any securities referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. Neither this document nor anycopy may be sent to or taken into the United States (U.S.) or distributed in the U.S. or to any U.S. person (as defined in Regulation S underthe U.S. Securities Act of 1933, as amended). Neither this document nor any copy may be sent to, taken into or distributed in any jurisdiction except in compliance with the applicable laws. If you do notwish to receive marketing materials from us, please contact our Data Protection Officer atdataprotectionofficer.pb@credit-suisse.com (for Credit Suisse AG, Hong Kong Branch) or PDPO.SGD@credit-suisse.com (for Credit Suisse AG, Singapore Branch). The entire contents of this document are protected by cop yright law (all rights reserved). This document or any part thereof may not be reproduced, transmitted (electronically or otherwise), altered or used for public or commercial purposes, without the prior written permission of Credit Suisse. 2017, Credit Suisse Group AG and/or its affiliates. All rights reserved. 13/13