The Journey to Digital Transformation with Touch Bank

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The Journey to Digital Transformation

Andrei Kozliar, CEO of Touch Bank

Backbase webinar

22nd June 2016

Part of OTP Group

Fully Digital retail bank

1 Year from concept to market launch

Start of build: April 2014

Launch: April 2015

Employees: 260

Number of brunches & ATM: 0

Touch Bank at a glance

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70 000 + clients in 1 Year

Customer service channels: Internet, mobile, call center


Our acheivements

3The Journey to Digital Transformation

Best Online Bank 2015

“National Banking Magazine”

Product of the Year 2015

Finance Innovation Award for

“Cards in Card” service

Product Innovation

of the Year 2016

Most Innovative

Retail Bank Russia 2016

Touch Bank services today


Current account

Savings

Credit Card

Loyalty

Personal Loan

VAS

Digital Transformation - within or outside?

Does Digital mean ‘Real Time’?

Is innovation limited to technology only?

Key Questions


ONLINE

APPLICATION

Internal:

• Corporate culture• Bureaucracy• Processes• Habits• Resistance to change

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Digital Transformation - within or outside?

May stifle:

• Innovation• Agility• Flexibility• Speed• Decision freedom


Does Digital mean ‘Real Time’? (onboarding)

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1. Download a Mobile App / Sign Up for Internet Bank / Register

in App

2. Wait up to 5 working days for the letter containing a Mobile

App PIN / Internet Bank PIN (they are DIFFERENT!)

3. Wait up to 5 working days for the card

4. Only one mobile device is allowed to be used for Mobile

Banking

5. A new client receives 3 different envelopes containing PINs

for Mobile Bank, Internet Bank, Telephone Banking

1. Complete 1 online application (2-7 min, depending on a product)

2. Receive log-in details via sms instantly

2. Sign up for Mobile App / Internet Bank, start using instantly

3. Receive card (1 working day, delivered at the time and to a place

convenient to you)


Does Digital mean ‘Real Time’? (financial & transactional info)

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1. Card (and some other) transactions appear in Mobile / Internet

Bank with at least a 24-hour delay

2. Up-to-date balance is impossible to get online

3. Loyalty / Reward programme: accumulation, redemption,

balance are all administered off-line

4. Absence of online transaction confirmation (e.g. via sms, push)

to reduce fraud, increase convenience

Just real-time and no more excuses


Does Digital mean ‘Real Time’? (accounts & cards management)

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Transactional limitsOnline, one click

account openingOnline PIN

management

Online card

(un)blocking


Does Digital mean ‘Real Time’? (instant money transfer)

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• To support money send to any people (any bank clients)

• To work with any phone numbers and e-mails (including

for transfers between Touch Bank clients)

• Card to Card transfers

From account details to phone number & e-mail


How many users were on site?

From what channels did they come?

How much did we pay?

How many of them

started application?

Completed

Application?

How many cards

were ordered/

delivered?

Are they being used?

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Optimization based on data on the sales funnel – orders, activations and first transactions (based on

LTV in prospective)


Does Digital mean ‘Real Time’? (performance strategy)

Real-time follow up for abandoned

applications using Multi-Channel

Campaign Management System for

maximizing conversion rate


Does Digital mean ‘Real Time’? (performance strategy)

ONLINE

APPLICATION

Innovation is not only about technology, it should also be in products and services

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Is innovation limited to technology only?

Product & Service innovation:

• ‘Cards in Card’ – wallet in a plastic card• Savings account with daily capitalisation paid onto

client’s account• Distribution of credit line between Cash Loan and

Credit Card accounts• Revolving Cash loan with changable term• One card to serve all accounts• Real-time currency and stock trading via Mobile /

Internet Bank


Thank You!

The Journey to Digital Transformation 14

The Journey to Digital Transformation with Touch Bank

Business

Transcript of The Journey to Digital Transformation with Touch Bank