mbank - the most design-driven digital bank in the world - netfinance, miami 2014

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NetFinance, Miami, April 29 th 2014 mBank: the most design-driven DIGITAL bank in the world Michał Panowicz anaging Director | Products, Marketing & Digital

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Most recent update on mBank - the most design-driven digital bank in the world. Deck presented at NetFinance in Miami in April 2014. 6 global innovation awards (Finovate, Efma, Bank Innovation 2014, Celent's Model Bank 2014). Coverage by Forrester Research, TechCrunch, Harvard Business Review, WSJ, American Banker and more...

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Page 1: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

NetFinance, Miami, April 29th 2014

mBank: the most design-drivenDIGITAL bank in the

worldMichał PanowiczManaging Director | Products, Marketing & Digital

Page 2: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

1.Introducing mBank

Page 3: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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New mBank gained global recognition for banking innovation6 top global awards in 14 months

London

ParisDigital & Mobile Excellence#1 out of 130 projectsMost Disruptive Innovation#1 out of 330 projects

2013Innovation

Awards

158 biggest banks56 countries330 project

New York

4x Golden Banker2014 Bank Innovation

Page 4: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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The biggest innovator in banking

Customers:

Fidor Bank

0.06 M

Simple

0.1 M

Moven

~0.01 M

mBank

4.4 M

Page 5: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

2.Customers want US to change…

Page 6: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

First online banking svcs in the 90s

Page 7: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

AD 2014

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Just 1 year ago we were still deep in TABLE-BASED BANKING

Page 9: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Meanwhile Digital Life Has Become SO MUCH MORE

Intuitive

ContextualInteractive

IntelligentBeautiful

Apple

Amazon

GoogleSpotify

Mint

MobileAndroid

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► State-of-the-art user interface

► 2nd-gen personal finance management

► Video banking► Google-like quick search

► Gamification► P2P payments► Facebook

integration

► 2nd gen mobile application: user interface, LBS, selling, deals, PFM, P2P

► Mobile payments

“New” mBank: 11 major digital financial innovations

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Over 600 final UI/UX models

(over 2000+ draft models)

2.9 M

0.16 M0.44 M

0.6 M

Core team: ~200FTEsat peaks: ~300FTEs+

Large scale change mgmnt program

mBank PL

mBank SKmBank CZ

Completely redesigned online banking in just 14 months… >200 new features

3.5M customers covered by now

Former MultiBank PL will merge by end 2014

Jan

Page 12: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

3.mBank’s online banking

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Organic adoption of new services growing fast% of clients who log in to the new mBank

INNOVATION ADOPTION ATTITUDE:

innovators

early adopters

early majority

late majority

laggards

Aug '13 Sep Oct Nov Dec Jan '140

20

40

60

80

100

18 25

32

45

69 71

Page 14: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Landing page

Page 15: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Account balance forecast

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Quick „Google-style” search

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Payments calendar

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2nd generation PFM: features blended into core scenarios

Page 19: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Videobanking: video, voice, chat, real-time collaboration

Page 20: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Financial products market providing eCommerce-like experience

Page 21: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Quick loan application available on main screen of online banking

Page 22: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Three simple steps to obtain a non-mortgage loan in online banking1. Determining amount and tenor

3. Loan available in less than 1 minute from starting the application

2. Confirming terms and conditions

Page 23: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Personalized real-time targeted offers based on customer behavior patterns

~20 types of messages spread across the platform

Page 24: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Contextual advisory, real-time targeting, online advertising

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P2P payments: Facebook, text, mobile

Page 26: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Merchant-funded deals, payments marketing (mOkazje)

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Gamification: integrated into online banking

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New features in 2014: investments

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Investments: simple and interactive way of investing in mutual funds

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Investments: quick search across funds’ attributes

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Investments: overall portfolio performance

Page 32: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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New features in 2014: consumer balance sheet summary

external account aggregation

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New features in 2014: loans – all types

Page 34: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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New features in 2014: insurance – (almost) all types

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New features in 2014: international expansion to CZ and SK

Page 36: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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New mBank available in Czech Rep. and SlovakiaLaunch in Feb 2014

• For early migration to new IB signed up 40,510 customers (7% of total number of CZSK customers)

• In total we recorded 11 tutorial video which have been viewed by 44,640 viewers (~2x more views than tutorials for Polish NmB)

• Awarenes about change to new IB among CZ clients is 80% (according to survey in old IB)

• The first spot „Financial me“ has already over 48,000 views on YouTube and became the most successful video on CZ mBank profile

LAUNCH CAMPAIGN HIGHLIGHTS [actual for 07.02.2014]

Page 37: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

and more…

400 and over 200 features

over

screens

Page 38: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

4. mBank’s mobile banking

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mBank in >20% mobile bank now. 104% growth in 6 wks.

Growth in logins by 104%Avererage monthly logins in old apps – 9,5 while in new apps – 33Share of mobile logins raised from 9,5% to 18,3%

Jan Feb Mar0%

5%

10%

15%

20%

Total in mobileNew mBank APPPrevious mBank APP

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1. convenience – instant gratification

Mobility

Page 41: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

1Simple login

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What most popular services do is a no-no in bankingULTIMATE CONVENIENCE… COPIED IN BANKS WOULD LAND US IN JAIL

Page 43: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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mBank: always one step ahead of competitors

How long does it take to log in?

5 s

30 - 60 s

5 s 30 s

other banks

login & password

PIN bal. payment / bill pay / money transfer

Page 44: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Quick and easy access via 5-8 digit PIN

Mobile device has to be connected with customers’ account via internet banking platform

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Mobility2

Usability before login:▸ balance▸ alerts▸ credit card

balance▸ mOkazje▸ ATMs

Page 46: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Most important information accesible pre-login

Account balance (PLN or %), places near me

Credit card limit (PLN or %) Important information

And more: merchant funded offers – mDeals, information about technical breaks, special marketing offers

Page 47: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

Demo: mobile login

Page 48: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Mobility

2. mobile redefines business model

Page 49: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Mobile means completely redesigned business modelFacebook & Google example

Page 50: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

230 second loan

Page 51: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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mBank: always one step ahead of competitors

ABC of credit risk management

Page 52: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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mBank: always one step ahead of competitors

A. banking standard

ABC of credit risk managementB.

innovativeparabanks

C. mobilemBank

Hours (branch)

26%* 3879%*900 sec. 30 sec.

26%**fully APR equivalent, includes fees

Page 53: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

Design-driven change management

Loan process in 30 s?

Organisational change

BusinessITRisk management

LegalCompliance

SecurityAuditSupervisor

ZBP

Others

Page 54: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Impossible process? We just did itLOAN IN 30 SECONDS ?

WTF ??!!

Page 55: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

Demo: one-click loan

Page 56: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Additional money in just 30 seconds via one-click loan application

Money bar with individual credit limit One-click loan application

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Mobility

3. taking the bank out of banking experience

Page 58: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

3Text message payments

Page 59: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Real-time communication with customers - unique feature in Poland

Textpaymen

tsMobile context needs text messaging

Page 60: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

Demo: other cool features

Page 61: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Extended transactional scenarios: PFM features

Transaction list: Google like searchTransactions categorization

Page 62: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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New and simple all money transfers

Re-build address book with searching through historical payments.

Re-designed payment form.

New authorisation method – PIN code.

Page 63: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Location based services

The nearest useful places(ATM, branch, discounts)

Map view Real time notifications near useful places

Page 64: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

5. Change to innovate

Page 65: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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We were just like most other banks: PRETTY SILOED

Page 66: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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We were just like most other banks: PRETTY SILOED

Page 67: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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We needed to change to deliver a BIG job

Break silos:

:Non-standard motivation

Core value: Collaboration

Freedom & Accountability

:

:Dedicated location

Team of 200

1.6 million lines of code50k test conditions

200 innovative features1700 screens

All products & services

30M Euro budgetJust 14 months

4 million customers3 countries

Corporation not startup

Page 68: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

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Break silos: creativity flourishes on diversity, commitment on inclusion

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Dedicated location: fresh start for teams and unequivocal focus

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Freedom & accountability = Ideas…. Organized in coherent direction

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Non standard motivation: e.g. grass-roots „Say Thanks”

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Collaboration: x-functional teams with balanced decision-making

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UX evangelisation and balance between 3 professions

Page 74: mBank - the most design-driven digital bank in the world - NetFinance, Miami 2014

BranchOnlineMobileDigital first

NetFinance, Miami, April 29th 2014