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Digital Transformation in Retail Banking

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This document discusses how visual analytics can help drive digital transformation in the retail banking industry. It covers key trends like demographic changes, evolving customer behaviors, and increasing regulations that are challenging traditional banks. It advocates using visual analytics to improve customer centricity, operational efficiencies, risk management, and other initiatives. Case studies are presented showing how banks like ANZ and Swedbank have used visual analytics platforms like Qlik to gain insights from data and remain competitive against technology companies.

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Visual Analytics in Retail Banking Digital Transformation through Visual Analytics in Retail Banking Ferran Garcia Pagans Financial Services Solution Architect

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2 Retail Banking Global Trends Global Trends Demographic Change Technology Evolution Customer Behavior Increasing Regulations Customer Centricity Branch Transformation Proactive Capital and Risk Management Operational Excellence Key Initiatives

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3 Digital Transformation in Retail Banking Branch Transformation Customer Centricity Operational Efficiencies Proactive Risk Management Business Intelligence Visual Analytics Customer Intelligence Customer Acquisition Relationship Optimization Omni- Channel Sales Performance Workforce Management Spent Management Executive Dashboards Branch Performance Regulatory Reporting Risk & Exposure Analysis Providers Performance Key Initiatives Key Analytic Solutions Platform OLAP/Reporting DataMining Financial Planning Self Service Data Viz Guided Embeded Custom Apps

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4 Customer Centricity: Customer Experience I have to look at what is Alibaba doing? What is Google Doing? What is Amazon doing? Because that customer experience they’re creating – people are going to ask, ‘Why can’t you do that as a bank?’ Customer Experience Web Analytics Omni- Channel Mike Smith, ANZ Bank Citation: http://www.businessinsider.com.au/anz-boss-mike-smith-just-explained-the-huge-problem- banks-face-from-tech-disruption-2015-4-

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5 Customer Centricity: Customer Intelligence Core banking is all about an accounting system. And we have to move to a customer-driven system, a behaviour driven system. We have all the information – it’s a question of making that transition, which is, I think, going to be the real challenge for banks. I think banks who get this right are really going to benefit enormously, because then you can access markets you couldn’t before. Customer Intelligence Online Banking Embedded Analytics Relationship Optimization Mike Smith, ANZ Bank Citation: http://www.businessinsider.com.au/anz-boss-mike-smith-just-explained-the-huge- problem-banks-face-from-tech-disruption-2015-4-

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6 • Optimise cash management: WIB QI provides a complete picture of your cash position – including account balances, historical trends and transaction volumes • Optimise payment channels: Each cheque costs about $65 to process compared to $13.30 for a purchasing card transaction1. By classifying payment channels and flows, you can use WIB QI to quickly pinpoint opportunities for significant cost savings. Insights as an Asset at Westpac Source http://wib.westpac.com.au/wibqi

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7 As transactions and sales shift to digital channels, branches that cannot create incremental value will need to close, or transform. Branch Transformation Branch Performance Branches are getting smaller as fewer customers use them for basic transactions. Branch Transactions App. Employee Facing -Customer Facing

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8 Swedbank empowers 5,000+ users with customer analysis tool using Qlik “Qlik is an immensely powerful Business Discovery platform. The solution gives users the power to gain access to and freely analyse data. It makes it possible for them to climb the knowledge ladder from raw data to refined information to analysis and conclusions resulting in relevant action.” Anki Ahrnell, Head of Marketing and Online Banking, Swedbank

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9 Capital and Risk Management Regulatory Reporting Risk & Exposure Analysis Regulatory Reporting

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10 Operational Efficiencies Workforce Management Expense Management Executive Dashboards Procurement

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11 Türk Ekonomy Bankasi (TEB) “Qlik has given our teams a whole new layer of visibility that simply wasn’t available through our existing data sources and reporting environments” Murat Özel Senior Mgr, Business Analytics at TEB a division of: Challenges • Traditionally used SAP Business Objects for standard and ad hoc reporting • Relied on Microsoft Excel for data sharing and analytics purposes. • Needed interactive, near-real time information to gain competitive advantage Solution • Purpose built apps to drive efficiencies across the organization for 4,000+ employees • Monitors individual and providing effective decisbranch performance ion support in various business decisions through Qlik • Used for Risk Analytics and Credit Limit utilization analytics • Users access Qlik with iPads

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See the whole story that lives within your data Innovative associative model enables users to probe all the possible associations that exist in their data, across all data sources, to answer not just “What happened?”, but “Why?”, and “What is likely to happen?” A platform for all your visual analytics needs More than a tool, Qlik’s platform approach enables centrally deployed guided analytics, self-service data visualization, embedded and custom built analytics, collaboration and reporting Agility for the business user, with trust and scale for IT Support the business and IT; Data sourcing and preparation, visualization and analytics, collaboration and reporting all within a governed framework Why our approach is unique A visual analytics platform

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13 Qlik Platform enables Visual Analytics Embedded analytics Custom analytics applications Self-service data visualization Guided analytics Reporting and collaboration Decentralized analysis and exploration for individuals and groups Centrally deployed guided analytics to multiple knowledge workers Analytics embedded in web and enterprise applications Custom-built analytics applications for internal and external use Pixel-perfect report distribution across the enterprise Explote Data in many different ways.

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14 Example, Big Data in Retail Bank SQL DATABASE Big Data Layer Discovery Layer Guided Analytics Governed Self Service Development Discovery

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Consistent Recognition from Respected Third Parties 6 Years in a Row Gartner Magic Quadrant Leader 2011, 2012, 2013, 2014, 2015, 2016 A Leader: The Forrester Wave™: Agile Business Intelligence Platforms, Q3 2015

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More Related Content

Digital Transformation in Retail Banking

  • 1. Visual Analytics in Retail Banking Digital Transformation through Visual Analytics in Retail Banking Ferran Garcia Pagans Financial Services Solution Architect
  • 2. 2 Retail Banking Global Trends Global Trends Demographic Change Technology Evolution Customer Behavior Increasing Regulations Customer Centricity Branch Transformation Proactive Capital and Risk Management Operational Excellence Key Initiatives
  • 3. 3 Digital Transformation in Retail Banking Branch Transformation Customer Centricity Operational Efficiencies Proactive Risk Management Business Intelligence Visual Analytics Customer Intelligence Customer Acquisition Relationship Optimization Omni- Channel Sales Performance Workforce Management Spent Management Executive Dashboards Branch Performance Regulatory Reporting Risk & Exposure Analysis Providers Performance Key Initiatives Key Analytic Solutions Platform OLAP/Reporting DataMining Financial Planning Self Service Data Viz Guided Embeded Custom Apps
  • 4. 4 Customer Centricity: Customer Experience I have to look at what is Alibaba doing? What is Google Doing? What is Amazon doing? Because that customer experience they’re creating – people are going to ask, ‘Why can’t you do that as a bank?’ Customer Experience Web Analytics Omni- Channel Mike Smith, ANZ Bank Citation: http://www.businessinsider.com.au/anz-boss-mike-smith-just-explained-the-huge-problem- banks-face-from-tech-disruption-2015-4-
  • 5. 5 Customer Centricity: Customer Intelligence Core banking is all about an accounting system. And we have to move to a customer-driven system, a behaviour driven system. We have all the information – it’s a question of making that transition, which is, I think, going to be the real challenge for banks. I think banks who get this right are really going to benefit enormously, because then you can access markets you couldn’t before. Customer Intelligence Online Banking Embedded Analytics Relationship Optimization Mike Smith, ANZ Bank Citation: http://www.businessinsider.com.au/anz-boss-mike-smith-just-explained-the-huge- problem-banks-face-from-tech-disruption-2015-4-
  • 6. 6 • Optimise cash management: WIB QI provides a complete picture of your cash position – including account balances, historical trends and transaction volumes • Optimise payment channels: Each cheque costs about $65 to process compared to $13.30 for a purchasing card transaction1. By classifying payment channels and flows, you can use WIB QI to quickly pinpoint opportunities for significant cost savings. Insights as an Asset at Westpac Source http://wib.westpac.com.au/wibqi
  • 7. 7 As transactions and sales shift to digital channels, branches that cannot create incremental value will need to close, or transform. Branch Transformation Branch Performance Branches are getting smaller as fewer customers use them for basic transactions. Branch Transactions App. Employee Facing -Customer Facing
  • 8. 8 Swedbank empowers 5,000+ users with customer analysis tool using Qlik “Qlik is an immensely powerful Business Discovery platform. The solution gives users the power to gain access to and freely analyse data. It makes it possible for them to climb the knowledge ladder from raw data to refined information to analysis and conclusions resulting in relevant action.” Anki Ahrnell, Head of Marketing and Online Banking, Swedbank
  • 9. 9 Capital and Risk Management Regulatory Reporting Risk & Exposure Analysis Regulatory Reporting
  • 11. 11 Türk Ekonomy Bankasi (TEB) “Qlik has given our teams a whole new layer of visibility that simply wasn’t available through our existing data sources and reporting environments” Murat Özel Senior Mgr, Business Analytics at TEB a division of: Challenges • Traditionally used SAP Business Objects for standard and ad hoc reporting • Relied on Microsoft Excel for data sharing and analytics purposes. • Needed interactive, near-real time information to gain competitive advantage Solution • Purpose built apps to drive efficiencies across the organization for 4,000+ employees • Monitors individual and providing effective decisbranch performance ion support in various business decisions through Qlik • Used for Risk Analytics and Credit Limit utilization analytics • Users access Qlik with iPads
  • 12. See the whole story that lives within your data Innovative associative model enables users to probe all the possible associations that exist in their data, across all data sources, to answer not just “What happened?”, but “Why?”, and “What is likely to happen?” A platform for all your visual analytics needs More than a tool, Qlik’s platform approach enables centrally deployed guided analytics, self-service data visualization, embedded and custom built analytics, collaboration and reporting Agility for the business user, with trust and scale for IT Support the business and IT; Data sourcing and preparation, visualization and analytics, collaboration and reporting all within a governed framework Why our approach is unique A visual analytics platform
  • 13. 13 Qlik Platform enables Visual Analytics Embedded analytics Custom analytics applications Self-service data visualization Guided analytics Reporting and collaboration Decentralized analysis and exploration for individuals and groups Centrally deployed guided analytics to multiple knowledge workers Analytics embedded in web and enterprise applications Custom-built analytics applications for internal and external use Pixel-perfect report distribution across the enterprise Explote Data in many different ways.
  • 14. 14 Example, Big Data in Retail Bank SQL DATABASE Big Data Layer Discovery Layer Guided Analytics Governed Self Service Development Discovery
  • 15. Consistent Recognition from Respected Third Parties 6 Years in a Row Gartner Magic Quadrant Leader 2011, 2012, 2013, 2014, 2015, 2016 A Leader: The Forrester Wave™: Agile Business Intelligence Platforms, Q3 2015