Customer-Centric Banking The Digital Opportunity Hassan Abouzeid Group Head of Digital

What is Customer Centricity? Customer-centricity, in its simplest definition, means making the customer's life easy; designing processes that are focused on delivering a positive experience; making it easy for the customer to: learn about you, buy from you, and get support from you when they need it. We know "Customer Centric" when we experience it, and, more importantly, we know it when we don't.

Why is it important?  Banking is not a “till death do us apart” relationship  The Pricing / Service Balance  The beast that is Social Media

How bank’s have made me feel bad  Yes, your other account is VIP, not this one, you have to use the mass queue – I am a person, not an account  “page 13 of the Ts and Cs said we will deduct that fee” – transparency?  “Press 2 for Credit Cards” – but I don’t have a card!  English or Arabic? – Maybe OK once, but every time I logon ? Customer expectations are constantly rising.. what was OK in 2015 isn’t anymore.

The Digital Opportunity 1.Knowing Your Customer 2.Keeping it Simple 3.Doing more with less, digitally

Opportunity: Know Your Customer (really know them!) Knowing your Customers’ Lifestyle Preferences Financials And use that to make their life easier. The easier it is to deal with you, the more they will. Automatic recognition (Branch, Call Centre, Devices) Personalization (ATMs, IVR, Offers, Websites) Behavioral Prediction Lifecycle management

Opportunity: Keep it Simple  Does the customer really need to do this?  Does he need to come to the branch to do it?  One less click, one less step, one less screen. Banks will get more business by keeping customer experiences simpler

Opportunity: Doing more with less, digitally Personal Experience  A transaction online costs the bank 1/1000 of the same transaction in a branch  A lead that is prequalified digitally is 20 more likely to materialize into a sale  Simple products (e.g. Travel Insurance or Eid Adahy) can be sold 100% digitally  Digital Branches actually work (if implemented properly)

The Digital Risk 1.FinTech anyone? 2.Cyber Crime

Risk or Opportunity? Banking will change, with or without Banks

Risk or Opportunity Fintechs

Risk Cyber Crime An estimated $2 trillion in annual cybercrime losses are expected by 2019

Risk Cyber Crime

The Digital Risk

Risk: Too Much Security is Bad Security Don’t annoy your customers  Bulky hardware tokens  Passwords expiring every month  12 Character Captcha Protect transparently  Location based security  Biometrics  Behavioral Analysis Security is crucial, but we need to get the balance right !

Don’t be the Dinosaur Bank… Thank you!