About
Introducing Always On Banking via Instant Messaging – banking anywhere, anytime 24/7.
Innovation presentation
A Standard Bank Instant Messaging Portal/App (Banker Chat) that allows our bankers to communicate, take demands and build effective, personal digital relationships with Prestige & Private Banking customers via their preferred messaging Apps such as WeChat, Google Hangouts, Facebook Messenger, WhatsApp etc. Our Banker Chat solution integrates (and aggregates) into any messaging platform. From a bank perspective we have one interface (Banker Chat) while the customer sees us as a contact on their preferred messaging platform (Phase 1 includes WeChat only. Google Hangouts is next).
Objectives:
a) Provide customers with alternative and convenient ways of communicating with the Bank at a time, place and platform that they ultimately choose – this was validated through the customer insights we performed;
b) Formalizing existing customer / banker behaviour – customers are currently communicating with their Relationship Manager using their preferred messaging platforms. Now, with this new solution, we are able to track, measure, store, manage and reduce the risk of these digital relationships;
c) To increase value demands that will ultimately improve revenue and the customer’s experience.
Uniqueness of the project
Everyone in the market are still driving customers to their own bank channels to communicate or transact – we believe our solution will allow customers to do their banking 24/7, anytime, anywhere via the platforms that they ultimately choose instead of going into a branch or having to visit their banker. Phase 1 includes communication with their banker via instant messaging and allows customers to do their banking via WeChat (effectively replacing email instructions). Phase 2 will include additional features to help us digitize the banking experience and includes document upload, video banking integration etc. The current business model will be enhanced by bringing in new business (product requests etc.) for us via the new communications channel.
