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Ikano Bank Powerpoint Shifting power structures in personal financial management MobeyForum Meeting Mette Munck Bertelsen eCommerce, Commercial Banking June, 2015 Where we come from Ikano was originally a part of the home furnishing company IKEA founded by Ingvar Kamprad in 1943. During the 1980’s, IKEA was divided into three independent groups of companies – INGKA Group, Inter IKEA Group and the Ikano Group In 1988, Ikano became an independent group of companies, owned by the Kamprad family. Today, Ikano Group is active within financial services, real estate, insurance and retail We share our knowledge and expertise with partners and customers in Europe and Asia through our company Ikano Insight 2 Mobey Forum - Helsinki June 2015 Ikano Insight – Our way to knowledge Ikano Insight is one of the Ikano group of companies We combine the clear-headed intelligence of data harvesting and analysis with the creative rigour to turn data into insight and insight into action We work with our partners to bring them closer to their customers It’s all about data, but ultimately we’re talking to people Our heritage is in retail We understand the sector inside out and apply that deep knowledge to deliver outstanding insight to our clients 3 Mobey Forum - Helsinki June 2015 Ikano business area Finance Vision “To create opportunities for better living” Business idea “Together we create solutions, based on fair terms and simplicity, that brings value to our customers” Ikano Finance operates in Sweden, Denmark, Norway, Finland, United Kingdom, Germany, Austria, Poland, Russia and the Netherlands. We offer financial solutions such as store cards, loyalty cards, credit cards, leasing, factoring, personal loans and savings accountsOur complete customer offering is available in Sweden and in the other countries the customer offering depends on the maturity of the market. The central office is located in Malmö, Sweden 4 Mobey Forum - Helsinki June 2015 Some of our retail customers 5 Mobey Forum - Helsinki June 2015 The digital shift in consumer behavior Retailers needs to focus on consumer access to information and continuously deliver new digital services and payments that increase the customer relationship Personalized Omnichannel Transparent Social Realtime 6 Mobey Forum - Helsinki June 2015 Disruption is upon us and challenge almost all industries Interested Ecosystems Data Driven individuals drives have shifted Successes good deals 7 Mobey Forum - Helsinki June 2015 Banks have difficulties in meeting consumers desires and expectations Gen Y Customers 8/10 countries with Customers around the registered lower the highest increases in world reported increased customer experience negative customer likelihood to leave their levels than customers of experience levels were in bank within the next other ages Western Europe six months The overall trend is that banks are facing stagnating customer experience and deterorating profitable customer behavior Ref.: World retailing banking report 2015 8 Mobey Forum - Helsinki June 2015 Consumers are increasingly viewing their banking relationships as transactional When consumers think about their bank and what it offers - whether through the branch, online or mobile channels - most think about banking products and services rather than the value the services are actually providing for their broader financial lives The increasing lack of relationship is a serious threat to banks 79% of US banking consumers says their relationship with their bank mainly is transactional Ref.: Accenture 9 Mobey Forum - Helsinki June 2015 Understanding consumers desire is key for building a relationship It’s not the loan or loanprovider that the customer desires it’s the kitchen! 10 Mobey Forum - Helsinki June 2015 Using many sources and insights we aim to get closer to the truth on consumers 11 Mobey Forum - Helsinki June 2015 Knowing consumers and their emotional preference is key in digital commerce People act differently depending on their needs and situations Who they are What they say and think 12 Mobey Forum - Helsinki June 2015 Merchants is focusing on conversion of transactions into interactions Pre-Purchase Purchase Post-Purchase Consideration Finance & Pay Engage & Involve Consumers investigate Ensure an intuitive Confirm and reward the different options and payment check-out, both consumer to ensure receive relevant offers online and in-store future enagement Push-offers Store Cards Rewards & Loyalty Social media Consumer Credit Online account management Vouchers and deals Wallets After-/upsales PFM & Saving tools Mobile Payments Feedback/rating Merchants are embrasing digital elements that strengthen the relationship Innovation in payments creates opportunities for retailers to deliver an integrated shopping experience connecting payment and loyalty 13 Mobey Forum - Helsinki June 2015 The digital transformation of merchant credit is focusing on realtionship Data on customer behaviors and preferences is growing rapidly with the use of loyalty cards, which A virtuous cycle is driving gather transaction data the digital transformation of and increased engagement merchant credit that strengthen the relationship Consumers increase spending and Retailers use the data to engagement with retailers develop sophisticated whose offers best meet customer segmentation their individual needs, both for marketing and credit in terms of product and scoring credit Retailers make personalized offers based on a detailed understanding consumer needs and appropriate credit availability Ref.: McKinsey Analysis 14 Mobey Forum - Helsinki June 2015 A seamless omnichannel experience is key for building a digital relationship Consider & Investigate Customer Evaluate & Engagement Calculate Help and guide the customer financing Omnichannel Customer Experience Online Account Management Reward & Apply & Online application Manage Buy and approval 15 Mobey Forum - Helsinki June 2015 Thank you! [email protected] 16 Mobey Forum - Helsinki June 2015 .
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