Best Consumer Digital Bank Awards 2018

Call For Entries Questionnaire

Be sure to complete an Entry Form indicating if you are entering the Corporate/Institutional category, the Consumer category or both. On the Entry Form, indicate the Sub-Categories you wish to be considered for. Click here for the Entry Form and Call for Entries.

The Consumer Sub-Categories are:

- Most innovative digital bank- Best SMS/text banking

- Best bill payment & presentment- Best website design

- Best integrated consumer banking site- Best in mobile banking

- Best in social media marketing and services- Best mobile banking app

- Best online deposit, credit and investment- Best information security and fraud

product offerings management

On the following questionnaire, check the box most relevant to your answer. For open-ended questions, please try to limit your answers to 200 words unless otherwise instructed. You may skip any questions not relevant to your submission or which you are unable to reply to. Applicants may attach additional supporting materials. The Infosys judging panel will review submissions. Global Finance editors will make the final award selections.

All documents should be submitted to Chris Giarraputo, . Call 1-212-524-3214 with any questions.

Deadline for entries is May15, 2018.

  1. Digital Strategy:
  2. What is your strategy for making your bank a next generation digital bank? (Please limit your answer to 400 words.)
  1. Do you use cloud computing?

If yes, please provide details.

  1. Do you have STP capabilities?
  1. By going digital, what cost savings have you seen?
  1. Is your account opening and on-boarding process automated?
  1. What percent of your products and services are available online?
  1. What has been the impact of going digital? (Please limit your answer to 100 words each.)

Customer retention
Process improvements
Integration with other channels
SMAC (social, media, analytics and cloud) enabled solutions
Cost optimization
New customer acquisition
  1. Describe any other initiatives for digital banking.
  1. What are your omni-channel banking capabilities with respect to:
  2. Service oriented architecture (SOA)?
  1. STP capabilities?
  1. Web-enabled technology?
  1. 24x7 operation?
  1. Multi-country/currency implementations?
  1. Integration with core banking platform?
  1. Multi-language support?
  1. What products and services are offered digitally? What additional products and services are in your plans to be digitized?

Offerings / Type (For example: credit cards, deposits, home loans etc.) / Features
Deposit/savings products
Investment products
Credit products
  1. Are the products and services mentioned above available through multiple channels? Can a customer initiate product application in one channel and close in another?
  1. What are the unique online investment management servicefeatures? Please specify the tools/features used including, but not limited to:

Risk profilers
Portfolio recommendation
Financial planning tools
Goals/budget savings
Online help through chat
Portfolio review/recommendations
Any other features
  1. Please provide the following details about your bill payment services:
  2. Bill payment features

Features / Yes / Plan to offer this year / No plans to offer / If yes, please provide details wherever necessary
Personalized/customizable ATM screens
E-commerce experience
Google-like predictive search for adding new payees
Pay bills without registration
Support SEPA formats for batch payments
Pay bills by scanning barcodes
Peer to peer money transfer
Transfer money via email, WhatsApp, Facebook or Twitter or by just entering mobile number
Advance analytics tools
Availability of bill payment services to non-customers free of cost
Pay multiple bills at once
Immediate registration and set up
Other key differentiating features
  1. Please share if there is 2FA or multifactor authentication done for bill payment services when done using MobWeb banking or MobileApp banking. (Limit 200 words)
  1. How is data security ensuredagainst mobile theft or hacking.(Limit 200 words)
  1. Bill payment:
  1. What percent of your total banking customers use your online bill payment services?
  1. What is the year-on-year growth in the percent of customers using your online bill payment services?
  1. What is the typical turnaround time for:

- Registration of the user for online bill payment

- Setting up a successful bill payment

  1. Do customers incur any additional charge or are they given any discounts to use your online bill payment service?
  1. Unique features of your website:
  1. Single sign on or straight through processing
  1. Does it have the following interactive features?

Interactive Features / Yes / No / Name
Surveys
Tools
Calculators
Text chat
Video chat
Ability to download statements in different formats
Personalization features
Compatibility with different internet browsers
Compatibility with different operating systems
Links/information from sources like Dow Jones, Reuters, CNN, etc.
Integration with external vendors for utilities bill payment, tax payment, etc.
Google Maps or any other geo-location based information

Please list the types of tools, calculators, formats for statements, download personalization features, external links and sources etc. in the “Name” column above

  1. Please describe the extent to which your banking channels are integrated, including any channel optimization measures that you have taken.
  1. a. What is the level/extent of customization available for your website across

regions/customers/segments?

b. Does your website provide the following next generation features?

Features / Currently offered / Plan to offer in the future / No plans to offer
Multiservice window
Responsive web design
Online demo videos
Video chat
Paperless onboarding
Automated document management
Multi-bank aggregation
E-commerce type experience
Consumer analytics
Single holistic view
Please list any other features being offered or planned in the near future
  1. a. What is your mobile banking strategy and how do you encourage customers to migrate to

mobile banking?

b. What percent of your total digital banking customers use online banking vs. mobile banking?

c. What is the year-on-year growth in percent of customers who actively use mobile banking?

  1. a. How do you handle mobile banking maintenance, upgrades and downtime?

b. What is the average downtime faced by end users of mobile banking?Please provide

Information for SMS Banking and/or Mobile Banking Application.

  1. a. What are the basic and advanced level technologies in place for monitoring and preventing online banking (including mobile banking) fraud/theft/hacking (including information on layered security features, features to ensure transaction security, levels of user authentication, encryption protocols used, etc.)?

b. Explain the methods/technology adopted to ensure safe and secure text (SMS) banking.

  1. a. What is your fraud prevention strategy?

b.Do you have a policy to compensate customers for their loss?

  1. What are the customer awareness and education initiatives taken to educate customers on information security for SMS banking and/or mobile banking?
  1. Is your web site compatible with a mobile browser (WAP browser)?

If yes, please provide details of the technology used.

  1. a. What percent of your customer base is enrolled for SMS/text banking?

b. What are the products and services accessible via mobile banking?

Offerings / Currently available / Plan to offer / No plans to offer
Check balances
Transfer funds
View statements/transaction history
ATM/branch locator
Bill payment
Mobile P2P transfer
Mobile remote deposit (RDC)
View credit card balance, statement, transaction history
Stop payment requests
Check book reorder
Personal financial management
International remittances
Single login credentials for online and mobile
Open accounts
Please list any other features being offered or planned in the near future.

Please use the space below to describe the offerings listed above. (Please limit your answers to 100 words for each offering.)

  1. What services are accessible to a customer via SMS banking? Please provide the list of push and pull services separately for SMS Banking.
  1. a. What is your strategy to use social media channels?

b. What do you use social media channels for?

Awareness
Product promotions and campaigns
Grievance reporting
Transfer money
Social media analytics
Run virtual banks to provide products and services through social media platforms
Please list any other features being offered or planned in the near future
  1. a. Do you monitor social media activity through a dedicated team? If yes, please provide

details.

b. What is the turnaround time for responses on your social media channels?

c. How do you protect customer privacy and ensure customer data security?

  1. a. How do you handle structured and unstructured data? Please list any specific analytical tools used.

b. Do you have a big data strategy in place?

c. If your answer to the above question is yes, then what are the ways in which you leverage big data? Please provide some specific examples. (Please limit your answer to 300 words.)

  1. PFM:
  2. Do you offer a personal finance manager (PFM) tool? If so, please provide the following details:

In house tool or third party? / In-house / Third party
Available to all customers? / All / Selective few
Available free of cost? / Free / Fee-based
Does it support account aggregation? / Only
self-accounts / Other banks’ accounts/ cards/investment
supported
  1. Elaborate on the overall functioning of the tool.
  1. What are the methods/choices available for data updates/synchronization?
  1. What are some of the important functionalities/offerings?
  1. What are the most important tools?
  1. Are the following advanced technologies/trends in use at your bank?

Technology / In use / Will implement in near future / No plans to use
Blockchain technology
Cryptocurrencies
Social media analytics
Robotic (automated) consultation
New credit underwriting models
Artificial intelligence
Internet of things

If the answer to any of the above is “in use” please describe below.

  1. What are your key focus areas for 2018? Please rank the following from 1-7 with 1 being the highest priority.

Focus Areas / Rank given (from 1-7)
Social media
Payments
Mobility
Acquiring/co-innovating with fintech startups
Omni-channel banking
Core platforms upgrade/conversion
Advanced analytics and big data in use

Please use the space below to provide further details on your priorities above.

  1. What new areas of innovation or innovative techniques is your organization currently working on or planning to implement in order to increase revenue and drive business growth?

Area of Innovation / In Use Now
(Yes/No/NA) / In Planning Stage For Future Use
(Yes/No/NA) / Comments (Please explain in detail)
Cloud based internet banking
Fintech partnerships
Investment in block chain/distributed ledgers/ cryptocurrency initiatives
Actionable use of big data for cross-selling
Robot force (robo advisory for investments/robo-tellers etc.)
Modernization of legacy IT/old banking applications
Rapid experimentation & agile development techniques
Use of APIs to build dynamic ecosystem
Others - Please explain
  1. Please highlight the areas of innovation being focused on to enhance customer satisfaction.

Innovation Area / In Use Now
(Yes/No/NA) / In Planning Stage For Future Use
(Yes/No/NA) / Comments (Please explain in detail)
Appointment setting technology using mobile and/or web banking
Innovative pricing strategies for consumers for financial services and products
Collaborative development/ user-centered customer-journey design(For example: Using social media, face-to-face interaction, customer feedback forms etc.)
Use of heat map technology to trace customer preferences (Self-service kiosks/recreations/ refreshments etc.)
Geo-fencing/beacon technology for targeted messaging and offers
Cyber security (For example: biometrics or any other advanced techniques)
Mobile-only account opening experiences
Wearable computing for contactless payments or any other activity
Others - Please highlight
  1. Please provide any other information you think will strengthen your case.

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