Customised services, leveraging augmented intelligence and delivered quickly, are essential for meeting the needs of consumers and corporates alike
January 30, 2019 | Richard Hartung- Standard Chartered Bank is focusing its digital solutions on the customer segment of one
- The customer journey provides the framework for those solutions, with staff incentivised based on the results they deliver
- Next best offers, staff training and augmented intelligence are key components
The goal for digital solutions at Standard Chartered Bank (SCB), said group chief information officer Michael Gorriz, is to satisfy the banking needs of customers within the screen time they’re willing to spend with the bank. “Your attention span is five seconds. It’s the outcome that matters for the customer,” he said, “how we can deliver financial services people need, shrink the decision time to the least amount.”
The way to deliver the right solutions Gorriz said, is to focus on the customer segment of one. “What is the next best thing you will be interested in. If you are in a certain area, salary level, you might not need a personal loan. You might need an idea of how to grow your wealth. We look at your portfolio, profile, scoring information, outside information, market analysis, using machine learning and AI. We match it to make you a suitable offer.”
The focus for virtual banking, for example, is the mass affluent and millennials, and making specific offers to satisfy their needs. In Hong Kong, for example, SCB is targeting a specific segment, the thirty-year-olds, well-educated customers who travel a lot and need a place to store their money as well as to create wealth for their future. “We are creating specific services around that.”
It’s important to keep staff knowledge up to the mark, Gorriz said. “We do this by a lot of training on the latest and greatest, how it applies to our bank customers. We increasingly use them (staff) to train the customer to use digital tools.”
...
Categories:
Keywords:Virtual Banking, Blockchain, Internet Of Things, Data And Analytics