Retail Bank Transformation and Distributed Capture Helping Banks Succeed in a Dynamic Environment

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Ellen McCarthy
5 years ago
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1 Retail Bank Transformation and Distributed Capture Helping Banks Succeed in a Dynamic Environment September 27, 2013 Be sure to tweet about the #RDCSummit and

2 StratEx LLC Consultancy focused on payments and RDC Strategy- Company/ Institution, Product Business Process Improvement Alliances and Distribution Mergers and Acquisition Vendor Evaluation and RFPs Copyright 2013, RemoteDepositCapture.com 2

4 Central Texas footprint Super Community Bank Retail & Commercial Banking Small Business Consumer Finance Investments Insurance Trust Mortgage Technology Solutions Consulting Services Copyright 2013, RemoteDepositCapture.com 4

workforce dynamics Industry Changes Smaller margins and revenue opportunities Difficulty generating non-interest income

6 Industry Challenges Cost Control Rising operation & labor costs Declining Lobby Traffic Declining transaction volume Growth in self-service channel usage Culture Changes Shift to mobile delivery Increasing expectation of convenience Changing workforce dynamics Industry Changes Smaller margins and revenue opportunities Difficulty generating non-interest income Reduced fee income Shrinking investment opportunities Bottom line, banks have to do more with less! Copyright 2013, RemoteDepositCapture.com 6

7 Self Evaluation How do we create a superior customer experience across multiple delivery channels? How does, and will, our leadership sustain this new model? Copyright 2013, RemoteDepositCapture.com 7

Beginning the Journey Roadmap to Banking

9 Organizational Structure Assessment Organizational Restructure Change Management Process New Driver, New Seats Speed Bump: GRIEF Process, Doing Business Differently Strategic Goals Stronger Culture Commitment Teamwork Communication 9

10 Self-Directed Services Creation Support the Branch Multiple Call Centers Centralized Video Phones Training Ground 10

Retail Experience Delivery University Consistent Customer and Employee Experience Centralized Hiring & Training for Uniform Delivery Consolidation of

11 Retail Experience Delivery University Consistent Customer and Employee Experience Centralized Hiring & Training for Uniform Delivery Consolidation of Job Function Our Version of Flight Training School Speed Bump: Integrating New Skill Set Employees with Tenured, Learn from your Neighbor attitude 11

12 Ongoing Routines Coaching Role Play Manager Mentor Career Path Speed Bump: Engaging Younger Employees 12

13 Processes 13

14 Self-Directed Services Phone Banking Redesign Website Online Account Opening Online & Mobile Chat Mobile Banking Video Phones Social Media Management 14

15 Branch Modification Retrofitted Existing Branches Drive-thru managed by lobby employees 15

Relationship Bankers Results: Transaction time cut in

16 Branch Modification Processes: Recyclers & Teller Capture Stand alone dialog towers Shared desks for Relationship Bankers Results: Transaction time cut in half to encourage conversations Employees Move to Traffic 16

17 Branch Modification Merchant Partnership Coffee & Snack Bar Public WiFi 17

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19 Focus on Innovation Standing Innovation Committee Meetings Cross Section of the Company Strategic Committees with Supporting Taskforces 19

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21 Technology itms Mobile Capture Remote Deposit Speed Bump: Capital Intensive 21

22 Driving in the Express Lane Inspect What You Expect Retail routines Reward and recognition Managerial accountability Pit Stops Internal hiring processes for career advancement Retail leadership development Selection process 22

23 Driving in the Express Lane The Visitor Center Retail Marketing Routines Product Creation, Refinement, & Simplification Gamification Customer & Employee education 23

Banking Products Processes People Technology Of all the banks Celent has researched, Extraco Banks may best illustrate the cultural, technical and

24 Banking Products Processes People Technology Of all the banks Celent has researched, Extraco Banks may best illustrate the cultural, technical and physical transformation needed to address today s challenges Extraco Consulting & The SWARM Banking Methodology Bob Meara - Senior Analyst, Celent 24

25 Components of Banking Greet customers within 5 seconds Swarm the lobby; talk to the customers One stop service Focus on the customer; not the process Face to face experience at the drive-thru Consistent experience 25

26 Stellar Driving Record AGENT: Extraco Insurance PO Box 6101 Temple, TX INSURED: SWARM Banking EXP FEB COVERAGES: Grew deposits Reduced staff Created Flexible & Mobile staff Reduced Turnover Created internal Talent Pool Improved job skills Greater customer access, reduced branch hours Reduced paper costs Improved Customer Surveys POLICY NUMBER: Y9854G1 26

27 Banking Products Processes People Technology Extraco Consulting & The SWARM Banking Methodology 27

Additional Takeaways Visit the In the News Section at www.extracoconsulting.

29 Additional Takeaways Visit the In the News Section at to view multiple industry articles focusing on different components of SWARM Banking and our transformation across multiple delivery channels. Copyright 2013, RemoteDepositCapture.com 29