simplicity as a bank's capability _jinzwicky_nov21_2013

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Jin Zwicky VP Experience Design Group Customer Experience OCBC Bank

Simplicity as an organizational capability

We want to differentiate ourselves through a simple customer experience.

I believe in power of design and its business impact.

Simple to do, feel simple, at the start

simplicityis

Simplicity as an organizational capability

What

Simplicity is based on human nature and common sense.

SimpleComplex

Knowledge needed to understandMental model

�6Simplicity as an organizational capability| Jin Zwicky

Simplicity is about working backwards from what people need.

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What people needWhat banks want

Simplicity as an organizational capability| Jin Zwicky

RelevanceSimplicity is not natural. You have to make it happen.

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What people needWhat banks want

Simplicity as an organizational capability| Jin Zwicky

Whysimplicity matters

Simplicity as an organizational capability

12 Pages of

form filling

8 Pages of

conversation

0 paper of

interactionSimplicity as an organizational capability| Jin Zwicky

Simplicity changes behavior.

Simplicity as an organizational capability| Jin Zwicky

LGI New Target Return Fund Sales as at 29 Nov (S$)

-

1,000,000

2,000,000

3,000,000

4,000,000

5,000,000

6,000,000

7,000,000

8,000,000

Day 1

Day 3

Day 5

Day 7

Day 9

Day 11

Day 13

Day 15

Day 17

Day 19

Day 21

Day 23

Day 25

Date

Sal

es (S

$)

LG NTRF Sales (S$) Avg Daily Sales for past 10 mths for top fund (S$)

17

+67%

A new investment product with simplicity design / development process 150%

liftAverage daily sales for past 10months for top fund

Sales

Simplicity as an organizational capability| Jin Zwicky

Customers don’t understand

Customers understand

2009 2010 2011 YTD 2012

Regular premiumsSingle premiums 8 times

increase

Customers don’t understand Customers understand

Simplicitybuilds clarity + confidence.

Simplicity as an organizational capability| Jin Zwicky

Simplicity sells.

12000 pages12000 pages12000 pages12000 pages12000 pages12000 pages600 pages

0.5 million / year

Simplicity saves cost.

Why is it hard to do?

The simplicity pitfalls

“Simplicity is for novice.” Bankers perception on wealthy customers

“I want it simple. Do it! ” Top executives without taking the full responsibility for the issue of simplicity ""

“We can’t do that, because….” Middle management not bold enough to shake the status quo

Simplicity is everyone’s job.

Everybody needs simplicity.

cultivate simplicity

How to

Simplicity as an organizational capability

Understand ‘design’

Design

Look and feel of a final objectNoun

VerbProcess of originating and developing a new object

The quality of the thing is a direct result of the quality of the process

Verb

Commit to designStart with customers Prototype & Test

Learn Improve

Test

LearnImprove

Test

Learn

Improve

Test

Simplicity

Simplicity as an organizational capability| Jin Zwicky

Establish simplicity engine: User-centered design process

Learn 5 simplicity fundamentals

Mindset Culture Skillset

Want it, badly Prototype Focus ruthlessly

Obsess with design

Speak human

Simplicity as an organizational capability| Jin Zwicky

Want it, badly

Fundamentals #1to simplicity

Unless simplicity is defined as your priority, it will not be there.

Jin Zwicky | The Basics of Simplicity

Head of Wealth Management

Prototype

to simplicityFundamentals #2

Relationship managers

Head of investment

Head of advisory

Jin Zwicky | The Basics of Simplicity

Only through prototyping + iteration + testnig, complexity strips off

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Total Tertiary Population Frank Total Base OCBC Tertiary Base (non Frank)

0 Poly

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26-28% Penetration amongst students

Students

Working

7 times increase in total base among university level students.

Focus ruthlessly"

Articulate one objective and do one thing well.

to simplicity

Simplicity as an organizational capability| Jin Zwicky

Fundamentals #3

Obsess with design"The look is the message.

The look should give a feeling of confidence and trust.

to simplicity

Simplicity as an organizational capability| Jin Zwicky

Fundamentals #4

Simplicity as an organizational capability| Jin Zwicky

Design ignorance Power of design

Design engages customers emotionally.

Emotionally satisfied customers are 100% more likely to spend.

Speak human"

Being human make things simpler.

to simplicity

Simplicity as an organizational capability| Jin Zwicky

Fundamentals #5

Fund Transfer – new screen

Designfulcompany.com

So, Was it simple?

Making things simple requires dedication, discipline and intelligence.

It is everyone’s job to make things simple.

Cultivate simplicity as a capability

Mindset Culture Skillset

Want it, badly Prototype Focus ruthlessly

Obsess with design

Speak human

Thank you!