2. Extensiveness, which transcends the time and space limitations of service provision and realizes the wide accessibility of services. Any user only needs a computer with Internet access (mobile phone in the future) and can access banking services anytime and anywhere. Compared with the traditional bank outlet channel, it can meet the requirements of serving more and wider customers.
3. innovation. Compared with outlets, Internet-based online banking has some unique characteristics. Due to the popularity of the Internet, the marginal communication cost of online banking tends to zero, so compared with the expansion of other banking channels, online banking provides an equal innovation platform for all banks. Both big banks and small banks can innovate financial services and launch new personalized and diversified products to meet market demand. Good financial products and services can transcend the constraints of few outlets, extend services to any corner of the world, and improve the brand and value of banks.
4. Low cost. Compared with bank outlets, the cost of online banking is very low, accounting for only 15% to 20% of income, while the cost of outlets accounts for about 60% of income.
Because of its unique characteristics and advantages, online banking has become an important strategic channel for banks. But today's online banking also has its limitations. Its main performance is that the first generation of online banking is an online trading channel centered on banks. The main goal of banks is to provide online transactions (starting from self-service counter transactions), which does not reflect too many new development trends and characteristics brought by the Internet, especially Web2.0. All users log in to online banking and see the same services, the same product recommendations and the same information. Therefore, the current online banking channels are self-centered trading platforms, rather than user-centered service platforms. With the development of Internet (especially the rapid development of Web 2.0), the change of market, the pressure of competitors, and the increasingly personalized needs of customers. The traditional transaction-centered online banking channel can no longer meet the needs of banking business development.
Pressure from the market
At present, domestic banks are relatively weak in intermediary business compared with foreign developed countries because of their late commercialization and single profit model. The following is the income source diagram of a domestic bank and a western commercial bank:
As can be seen from the figure, the income proportion of western commercial banks mostly comes from financial value-added services-intermediary business, while the income source of domestic commercial banks mostly comes from interest margin. At present, in order to reverse the situation, domestic commercial banks must carry out transformation and vigorously develop and improve the income of intermediary business. As the contact point between customers and banks, how to subdivide customers in the channel system, how to provide personalized services for different types of customers, and finally transform the bank's channel from a transaction-centered channel to a customer-centered intelligent channel is one of the driving forces for the bank's channel transformation, and online banking is one of the most important channels.
2. Pressure from competitors
Nowadays, the homogeneity of wealth management products between banks is becoming more and more serious. Some people say that the life cycle of wealth management products is only one month. In other words, after a bank launches an innovative wealth management product, similar wealth management products from other banks will be launched in the market within one month, which shows the fierce competition in the same industry. For large banks under full-service operation, the competition is particularly fierce. When you start a new business and product, you will face fierce pressure from your competitors, and the original traditional advantageous business will also be severely impacted by new competitors. How to expand the market in the other side's advantage while maintaining the traditional business's continuous leading edge has become the focus of current large and small banks. The key for banks to enhance their core competitiveness will shift from products themselves to "soft indicators" such as service, brand and customer loyalty. We believe that from the perspective of paying attention to customer delivered value, providing customer delivered value higher than that of competitors can enhance the overall competitiveness of banks in the industry and find a way out for the growth of sustainable profits.
3. Pressure from customers
With the development of the Internet, the concept of Web2.0 is deeply rooted in people's hearts, and with the development of the "second generation of the Internet" group (the second generation of the Internet refers to people under 30 years old, who advocate personalized life, freedom, * * * enjoyment and pursuit of customer experience with the growth of the Internet. ), the new network generation is rapidly becoming the middle force of society. According to statistics, by 20 10, 40% of the labor force in society will be composed of the "second generation of the Internet".
The second generation network will bring about the intensification of "social fragmentation". In the 20th century, the launch of a product can often meet the needs of 80% customers. The arrival of the so-called "era of consumer sovereignty" in 2 1 century means that there are fewer and fewer customers with the same needs, and the customer needs are more and more diversified and personalized. This forces banks to further study and understand the needs and buying behaviors of different customers, so as to provide customers with services that meet their needs and achieve good customer experience and customer loyalty.
We know that "customized" services will inevitably lead to a sharp increase in costs (such as private banks), so the cost constraints make it impossible for traditional outlets to promote personalized services on a large scale. However, with the continuous development of the Internet (especially the birth of Web2.0), it will be possible to make use of the unique characteristics of the network and through the electronic channels of banks, "mass customization" (which not only meets the needs of personalized services, but also meets the low-cost requirements of mass production).
With the continuous improvement of consumers' quality and the homogenization of bank products and businesses, users will choose the bank that can bring them the greatest benefits more and more rationally. Profit maximization is a relative concept for consumers, which is basically reflected in the difference between the total customer value and the total customer cost. This difference is called customer delivered value in marketing. Among them, the total customer value refers to a series of benefits that customers get from a particular product or service, such as product value, service value, personal value and value of the image. Customer total cost refers to the expected cost of customers in evaluating, obtaining and using products or services, such as monetary cost, time cost, physical cost and energy cost. Expressed by the formula: customer delivered value = total customer value-total customer cost.
Therefore, the core competitiveness of banks will gradually shift from product orientation and risk orientation to customer orientation. If banks want to have a high competitive position in the market, they must provide customers with customer delivered value higher than their competitors, that is, they have an advantage in customer delivered value. This is of great significance for banks to comprehensively design and evaluate the value of products in their business services, so as to maximize customer satisfaction and further improve the overall competitiveness of banks.
Demand drives change. At present, the concept, technology, function and experience of online banking can no longer meet the business development needs of current commercial banks, and the next generation of online banking is needed. Web2.0 is such an idea, technology and experience, which is accompanied by the business development of banks. When it comes to Web 2.0, technicians say it is technology, marketers say it is marketing, designers say it is customer experience, and entrepreneurs say it is business model. These statements are both right and wrong, because Web 2.0 can be all these, not just these. The concept of Web 2.0 has different meanings from different angles.
This paper briefly introduces Web 2.0 from two aspects: business application mode and technical level.
1.Web 2.0 business model and its application
There are many business models and applications derived from Web 2.0, such as C2C e-commerce, video-based marketing, long tail theory and so on, and there are countless examples. Its core idea is to change from the traditional enterprise-centered to the user-centered one.
In the era of Web 2.0, end users are playing an increasingly important role in the network. From the popularity of community, blog /Wiki, video /Flash, tags, users' active participation in the experience feedback of products and services, and the business activities of end users in the network, end users are no longer just consumers of enterprise information and services, but also providers of information and services. The Web2.0 era is a user-oriented era, and various business models and applications will pay more attention to user needs and user experience.
2.Web 2.0 technology
Web 2.0 is a network rich client technology. With the popularization of Web 2.0 technology, a series of excellent AJAX frameworks have emerged, such as Dojo, jQuery, Prototype, Ext and so on. Based on these Ajax frameworks, Web 2.0 applications have a very rich presentation and customer experience.
There is another important technology in Web2.0: Mashup mashup technology. The emergence and development of Mashup technology and standards have greatly promoted the development of Web2.0. Web2.0 applications publish services in the form of MashupWidget, and then various widgets can be easily combined into a new application through Mashup technology.
In addition, there are a series of Web 2.0 technologies, such as Atom, Restful, JSON and so on.
The concept and technology of Web 2.0 have been applied to many industries, especially social networking and retail. Although it started late in the banking industry, its influence is gradually increasing. IBM influences the whole market not only in the technical aspects of Web 2.0, but also in the industrial solutions based on Web 2.0. In other industries, the concept and application of Web2.0 have been very extensive, such as Google and Baidu in search industry, Ebay and Taobao in e-commerce, Facebook and Youtube in community and so on. Compared with the conservative banking industry, the application of Web2.0 started late, and all of them are simple community applications. However, Web2.0 has brought more and more influence to the banking network. As a president of ING Group in the United States said, the risk of not adopting Web 2.0 now is much greater than adopting Web 2.0.
1. A new business model was born.
The concept impact brought by Web2.0 is far greater than the technical impact. For example, Web2.0 e-commerce such as Taobao and Ebay subverts the traditional concept of e-commerce. In banking, with the development of Web2.0, it will also bring innovative financial business models and services. Focusing on the user-centered Web2.0 concept, banks will be able to launch more services that meet the market demand. The following is an innovative case of microfinance based on Web 2.0.
C2C microfinance case: Traditional commercial banks provide services or loan products to customers, and banks are the only providers of services, which is a typical B2C business model. A website named Zopa (see the picture below) does not belong to any traditional banking business, but is an innovation of traditional banking business. Based on this platform, it can make it very convenient for customers to make small loans. This C2C bank business model is a business model innovation based on the concept of Web2.0, and it has also begun to have a great impact on the existing business model of banks. Banks can also use the concept and technology of Web2.0 to provide more and better value-added services to serve customers, otherwise the emergence of new business models will soon affect the operation and profitability of the traditional business model of banks.
2. Divide customers and funds.
Web2.0 affects all walks of life and indirectly affects the banking industry. A typical example is that e-commerce websites such as Taobao and eBay have robbed a large number of bank customers, while online payment institutions such as Alipay have also robbed a large number of bank funds and businesses. With the comprehensive development of financial mixed operation, banks can operate other businesses, and the same other institutions can also operate financial business. In the face of opportunities, the banking industry is also facing fierce challenges. As mentioned above, online banking provides a relatively fair platform. If innovative banks can launch new products and services that meet the market demand, they can push their products and services to the world through online banking and improve their competitiveness, which also gives some small banks the opportunity to re-carve up the market. Therefore, for banks, the consequence of not transforming the online banking channel is that more and more customers are lost, and other industries or companies take away high-quality resources.
3. Community financial management
In traditional financial management, bank financial specialists or account managers provide financial consulting and services to bank customers, which is a way of B2C service provision. With the development of Web2.0, the contact between users is getting closer and closer. Users are not only recipients of information and services, but also their experiences and feelings can be used as providers of information and services. Moreover, the information and services provided by customers are more likely to be trusted by other customers and more effective. Therefore, the combination of social network based on Web 2.0 and banking business can lead to community-based financial management.
4. Rich user experience
At present, the online banking user experience of most banks is poor. Using the client technology of Web 2.0 can improve the customer experience, as shown below:
* Most banks display network services in a traditional way, such as a large number of texts. If you use Flash video or rich charts, the user experience will be much better.
Global refresh. Using Web 2.0 technology, local refresh can be realized, and the customer experience and ease of use are better.
Integrate more user value-added services. For example, Google Maps or Baidu Maps can be integrated into online banking services and combined with bank outlets to provide rich information such as outlet addresses and outlet services.
Provide a community environment for real-time exchange of banking services and financial management experience between customers.
Provide online labor service. Combining Web 2.0 technology with the development needs of banking business, the next generation of online banking based on Web 2.0 came into being. Compared with the traditional bank-centric online banking, the next-generation online banking based on Web 2.0 is an online financial supermarket and a user-centric online marketing platform, which provides a good customer experience for end users:
1. Online financial supermarket: With the gradual development and deepening of mixed operation, online banking products will become more and more diversified, such as traditional banking, insurance, funds, futures, gold and foreign exchange. Online banking is not only an online trading platform, but also a financial supermarket where customers can get one-stop financial services.
2. Customer-centered marketing platform: On the one hand, with the fragmentation of society, the second generation of network has gradually become the main labor force of society, with more and more diversified customers and more personalized needs; On the other hand, online banking can provide more and more products. How to choose and use the right online banking service for the right customers through the right channels is a contradiction and challenge at present. Customer-centered marketing platform is a personalized online channel at first. After logging in, different customers can see different services, even different backgrounds, styles, colors, recommended services, emergency notices and so on. On the basis of personalized platform, banks can also provide personalized services to customers according to their channel behavior habits, historical transactions, risk preferences and other information.
3. Customer experience: As the contact point for customers to contact banking services, the customer experience in the service process is very important. According to Maslow's hierarchy of needs theory, there are many levels of human needs. Functional satisfaction is only the most basic needs of customers, and customer experience is the higher-level customer needs based on functions. At present, most online banks can satisfy customers functionally, but the customer experience of most banks needs to be improved. The customer experience here includes personalized service, whether it is convenient to find familiar services (in many online banks, users need to click the mouse five times to find services), whether there are all kinds of relevant information to support the purchase process, whether to support customized service lists, and so on. Will become the basic requirements of customers.
The next generation of online banking based on Web2.0 will not only be a "trading platform", but also become a comprehensive "marketing chain platform", which can provide services in combination with the whole consumption process of customers. Traditional online banking is based on transactions. Every customer's transaction in online banking is a "transaction point" and the only interaction between users and banks. Based on Web2.0 online banking, this "trading point" has been extended into a "marketing chain" to serve customers' consumption process, as shown in the following figure:
1. Stimulate consumption desire
In the next generation of online banking, it can provide financial information and information to customers by combining rich presentation methods such as videos and charts, or through games. Used to stimulate users' desire for consumption.
2. Pre-sales research
Financial products are highly involved products, and users need sufficient information for consultation, analysis and investigation before making consumption decisions. In the next generation network bank based on Web 2.0, it can provide comprehensive information integration of products and services, and combine information push with product "situation" and "personal preference" to realize the value of information.
The information source can be the analysis report of the bank, the comparison of similar products, or the news of the third party, which fully meets the needs of users' pre-sales research (Web 2.0 Mashup technology can be used for information integration and correlation).
Sell in China.
In the process of users' consumption operation, on the one hand, online help can be provided to help users successfully complete the consumption operation process (ClicktoCall and Co-Browsing technology can be used to realize multi-channel collaborative assistance between online banking and CallCenter); On the other hand, banks can add cross-selling and up-selling functions according to users' "events". For details, please refer to the article "Banking System Architecture Based on Event Marketing".
4. After-sales service attention
After-sale is a very important link in marketing. Once the customer is dissatisfied with the after-sales service, it will directly lead to the decrease of customer loyalty and bank profits. For example, after customers buy fund products, they are prone to "perceived anxiety" and fear that the income will shrink. Even normal fluctuations will cause customers' "disgust", thus reducing customers' satisfaction with banks. In the next generation of online banking, we should consider providing customers with capital fluctuation analysis and even comparing the performance of peers to reduce customers' perceived anxiety.
The after-sales service of the next-generation online banking also includes continuous product-related information push, event-based customer loyalty tracking and service, and gift push that customers are interested in.
Repeated purchase
With the improvement of customer's after-sales service satisfaction, the probability of repeated purchase increases, and customers gradually become loyal customers of banks; Similarly, with the increase in the number of bank products purchased by customers, the viscosity of customers and their dependence on banks will also increase (for example, the loyalty of customers holding savings cards and credit cards is much higher than that of customers holding savings cards alone)
6. Customer lifetime value
In the process of human life cycle, demand is constantly changing. For example, the student stage, graduation stage, parenting stage and retirement stage have different demands for financial services and products. Banks should pay attention to maintaining long-term relationships with customers, regard customers as assets, and realize comprehensive relationship marketing based on customer life cycle. And these can be achieved through the next generation of online banking channels. IBM's WM-BTT (WebSphere Multi-channel Bank Transformation Toolkit) product can help banks to realize a new generation of online banking. The following figure is the architecture diagram of IBM WM-BTT product's next-generation online banking based on Web 2.0:
The next generation online banking solution provided by IBM based on Web 2.0 provides rich customer experience, personalized service, customized online banking desktop, event-based marketing, contextual correlation between services and information, etc. The following figure is a screenshot of the demonstration based on this solution:
The following is an example of a bank selling real estate services on a commission basis. In online banking, if you select this service, the information of available buildings will be displayed on the left, GoogleMap service and Google Street View service will be displayed on the right, and loan calculator service will be displayed in the lower right corner. These services and information are integrated to form a consignment real estate service. This service is undoubtedly more attractive to users than the traditional description of words and pictures, and can also provide users with more value-added information.