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CAPITEC BANK ENHANCES THE CLIENT EXPERIENCE USING SCALA DIGITAL CONTENT MANAGEMENT

Capitec bank enhances the client experience using scala digital content management

Successful project combining electronic queue management with digital signage increases customer satisfaction and improves business productivity

Quick Facts:

  • Fast-growing Capitec Bank has 4.7 million customers and retail deposits of over 17 billion Rand
  • Electronic queuing and Scala digital signage now live at 560 branches across South Africa
  • 42-inch and 32-inch screens installed in branches’ One to One and Deposit & Enquire areas
  • Wait-time information and marketing presentations enhance clients’ in-branch experiences
  • Scala software provides powerful content management and distribution features

Capitec Bank provides savings, transaction and credit services, and has 4.7 million active banking clients in South Africa. Now the fourth largest bank in South Africa, by market sharei, Capitec is currently growing quickly, having gained over 971,000 active new clients in 2013, and holds retail deposits of over 17 billion Rand. Capitec’s unique value proposition for its clients is based on offering affordability, accessibility, personal service and simplicity. To deliver on these promises, it makes extensive use of advanced technology in its banking platform.

Capitec bank enhances the client experience using scala digital content management

Capitec bank enhances the client experience using scala digital content management

Plan for business improvement
With the ultimate goal of winning every one of South Africa’s banked population of approximately 22 million people, Capitec managers are always seeking effective solutions to improve the customer experience in each of the bank’s 560 branches located throughout the country. In 2010 it began a project to tackle what its managers termed the “Capitec Wave”, a reference to the waiting system in which clients tended to move from chair to chair as they progressed towards the front of the queue when visiting a branch.

“Customer wait-times and the in-branch experience are very important metrics for retail banks,” explains Charl Nel, Head of Communications for Capitec. “We saw that we could improve performance in both respects by providing real-time information allowing clients to assess their likely wait-time and even decide to return later without losing their place in the queue.”

To achieve its goal Capitec sought a customised electronic queue-management system with digital signage, to be implemented at all branches throughout its national network. Electronic queue management allocates a number to each visitor upon entering the branch and calls the numbers in sequence as consultants become free. By displaying the numbers on-screen, and also issuing audible voice prompts, electronic queuing allows customers to visualise their position in the queue and anticipate the time at which they will be served.

As the project progressed, Capitec was able to further refine its requirements for the system, working with its chosen integration partner Ethniks. Formal specifications for collecting management data such as consultant productivity were added, and the remit for digital signage was expanded to allow the system to present a wider range of content such as notices and special offers when queue-status information is not required.

Queue and content management
To satisfy the final specification set out by Capitec, system integrator Ethniks combined the selected queue management system, Q Matic, with the Scala digital content management platform. The Scala software was chosen for its benchmark content-management features and flexibility, and its suitability for a seamless and cost effective integration with Q Matic. In particular, Scala provides powerful controls for organising, distributing and updating content, and is able to support smooth transitions between modes displaying wait-time information and marketing presentations.

Integration of the Scala software began in 2011, and the finished system is now live across Capitec’s national branch network. In the larger branches, known as pioneer branches, clients waiting in the One to One consultation area are kept informed by two 42-inch LCD panels which are mounted on the walls or from the ceiling. Capitec’s pre-pioneer branches are smaller and have a single 42-inch screen in the One to One area. In addition, all branches have a Deposit & Enquire area, which has two service points. A single 32-inch screen in this area is divided into two regions to display queue status for each service point.

Clients receive a ticket when they enter the branch, and subsequently wait in the One to One area or the Deposit & Enquire area depending on the type of service required. At the same time, audible announcements via the public address system call the numbers in sequence, prompting customers to go to the relevant service point. “In practical terms the content we can display is only limited by the size of the screens,” explains Charl Nel. “We have found that displaying the last six numbers called helps customers’ awareness of the likely wait-time, as this can vary according to a number of factors such as the time of day.”

Solution delivering satisfaction
By combining queue management and Scala digital signage, the solution developed by Ethniks is proving successful in reducing wait-times, ensuring more clients achieve their objectives on each visit, and helping Capitec to communicate efficiently with clients in each branch. By also importing data from the queue system into its management information database, the bank is able to gain a clear understanding of the performance of individual consultants and branches.

“Successfully integrating queue management with the Scala software has enabled us to create a solution meeting all of Capitec’s goals in relation to client satisfaction, marketing communications and business improvement,” says Petrus Venter, CEO at Ethniks.

“The system, as implemented, puts us in a position to solve issues before they influence the wider client experience, and helps ensure that our clients enjoy a more controlled and fair service experience,” concludes Capitec’s Charl Nel. “The Scala digital content management system provides flexible functionality that helps us maximise the value of the system and keep our clients informed. Moreover, we can ensure that the information is always relevant, up to date, accurate, and fresh. Overall, this has been an extremely successful project.”

About Capitec
Capitec is a South African retail bank focused on providing easy and affordable banking services to its clients via the use of innovative technology. Fingerprint Biometrics and photo identification is used to streamline the paperless branches’ processes and make branch transacting easier.  The bank bases everything it does on simplicity, affordability, accessibility and personal service. For more information, visit: www.capitecbank.co.za

About Ethniks
Ethniks is Full Service Company, Southern African agent for Scala. Ethniks was founded in 1987, the company has over 20 years’ experience in technology implementation, integration and support services. We have 100+ Employees plus Support Infrastructure countrywide. Benefits are delivered through appropriate best of breed technologies. Whether it is being seen in the boardroom, reception, a shopping mall, hotel room, restaurant, airport, on a production line, in an office or an interactive kiosk, Ethniks will help you communicate your message to staff, sales people and customers in a way never before possible! For more information, visit: www.ethniks.com

About Scala
Driving more than 500,000 screens worldwide, Scala is the world leader in location-based media designed to influence human behaviour actively and intelligently. We love creating intelligent digital signage solutions that move products, consumers, and sales metrics. Scala solutions increase sales, improve brand loyalty, optimize customer experience, and reinforce business objectives. Scala is headquartered near Philadelphia, Pa. and has subsidiaries in The Netherlands, France, Norway, Germany, Japan, and India, as well as more than 500 partners in more than 90 countries. For more information, visit: www.scala.com.

Banking

How new trends are creating the perfect recipe for rapid digital transformation throughout the world’s oldest institutions

How new trends are creating the perfect recipe for rapid digital transformation throughout the world's oldest institutions 1

By Wayne Johnson, CEO, Encompass

Digital banking has drastically changed the landscape of financial transactions over the last few years. Technologies used to be limited when it came to banking, however, now they cover every step of banking or investment services, from behind the scenes due diligence checks to customer facing channels. Embracing this change through emerging technologies is the future for the financial industry.

In recent years, financial technology (FinTech) has developed to facilitate online payments, instant banking, trading, lending, and more.

This new era of digital transformation has been driven by technologies such as artificial intelligence (AI), APIs, blockchain, process automation, and internet of things (IoT) technologies, which have provided vital upgrades to the outdated legacy IT systems institutions historically relied on. The aforementioned technologies streamline and enhance processes, consequently generating a much more reliable and pleasant customer experience. These technological advancements have transformed modern banking operations, changing how the banking industry operates today.

Every new advancement in technology in the finance sector, like expanding a financial service offering to business customers, brings with it new risks and compliance obligations, but the latest trends are creating the perfect recipe for rapid digital transformation throughout the world’s oldest institutions.

The acceptance of new-age technologies

Technology is already driving massive changes in the banking landscape as we know it, and it will be an influential contributor to shaping the industry of the future.

Focus on improving customer experience

One of the areas that banks are increasingly trying to improve through digital banking is customer

experience. Customer expectations for online services are constantly being influenced by the experience provided by big tech companies like Google, Amazon, Apple, and Facebook. With their influence, everyone is looking for a similar experience from their own providers. While digitally savvy Millennials are mainly responsible for the rise in expectations across the board, the wide-spread use of digital technologies in most industries has meant that it is more important than ever for banks to be on top of their delivery at all times.

Wayne Johnson

Wayne Johnson

Interactive banking channels

There has been a huge decline in branch visits in recent years, with some re-evaluating their very role, and an increasing shift from just providing transactional services to allowing for a practical banking experience. This was initially done by moving banks to key locations in town centres, investing in video chat services and offering self-service points – all of which has only been possible through the use of digital technologies. Financial institutions have realised that customers, with their busy and demanding lifestyles, like to have a choice and rely on a full range of channels, online access and 24/7 availability.

The rise of open banking

The increased popularity of open banking and rise in API usage is set to drastically change the industry with the flexibility offered by APIs allowing financial institutions and FinTech’s to put innovation at the heart of their service, resulting in improved customer service and enhanced convenience.

The importance of organisational structure transformation

In order to achieve true digital transformation, financial services institutions need to change their organisation functions from the inside out. To reap the greatest rewards, they must promote a “digital first” strategy internally. Only then will they see a positive change and truly release the benefits of digital transformation and the solutions available today.

The  market is constantly evolving , and adapting, and whilst the survival of traditional institutions is not under immediate threat, key players are going to have to modernise their processes and ways of working to keep up with developing requirements and customer needs.

Financial institutions are now starting to recognise the importance of digitalisation, which many other businesses realised was a priority years ago. This is demonstrated by the emerging trends mentioned, which indicate a rapid altering of the operating environment, from increased customer expectations and improved processes, back-end technology and newer operating models to organisational priorities shifting with the times. Digital transformation can no longer be ignored, and financial services organisations will have to embrace it if they want to remain competitive

 

This is a Sponsored Feature.

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Banking

Standard Chartered Bank partners with Microsoft to become a cloud-first bank

Standard Chartered Bank partners with Microsoft to become a cloud-first bank 2

Standard Chartered Bank and Microsoft Corp. on Tuesday announced a three-year strategic partnership to accelerate the bank’s digital transformation through a cloud-first strategy. This partnership marks a significant milestone for Standard Chartered in making its vision for virtual banking, next-generation payments, open banking and banking-as-a-service a reality. Leveraging Azure as a preferred cloud platform, the companies will also co-innovate in open banking and real-time payments to help the bank unlock new banking experiences for clients.

Standard Chartered Bank partners with Microsoft to become a cloud-first bank 3

Embarking on a cloud-first strategy

As part of its digital transformation, Standard Chartered will adopt a multicloud approach, where significant applications, including its core banking and trading systems and new digital ventures such as virtual banking and banking as-a-service, will be cloud-based by 2025, subject to regulatory approvals. The bank will also adopt a cloud-first principle for all new software developments and major enhancements.

As technology reshapes the banking industry, Standard Chartered recognizes that a cloud-first strategy is critical to the bank’s ambition to make banking simpler, faster and more convenient. By being digital-first, the bank will be able to meet the demand for seamless banking virtually anytime, anywhere, and make banking more accessible to people across its network.

Michael Gorriz, Group Chief Information Officer of Standard Chartered, said, “Cloud is a cornerstone of Standard Chartered’s strategy to meet the present and future banking needs of our clients. Cloud providers have invested massively in the reliability and automation of infrastructure and platforms. Using cloud services improves our ability to be agile and innovative, while increasing our operational efficiency and resilience. As disruption in the financial industry continues, we can focus on client benefits by deploying our solutions quicker and allowing for faster integration of new business models and partners. To realize our digital ambitions, Standard Chartered has chosen Microsoft as a strategic partner and this partnership marks a major milestone for the bank in adopting a cloud-first approach.”

Bhupendra Warathe, Chief Technology Officer, Cloud Transformation at Standard Chartered, added that “The pandemic has shone a spotlight on the need for businesses and banks to be resilient from a risk mitigation, cost and security perspective. With the increasing trend of an always-on digital economy, commercial and consumer clients are looking for applications and services that empower them to do online banking from anywhere, flexibly and efficiently. The speed and scale of continuous innovation offered by Azure allows us to innovate with the latest AI services to meet evolving client needs. We can pilot new apps in one market and scale them rapidly across others. This is especially important for a bank with a footprint as broad and diverse as ours.”

Standard Chartered will adopt Microsoft Azure as a preferred cloud platform to meet the bank’s need for resilient data centers and cloud services and addressing customers’ security, privacy and compliance requirements across the bank’s global footprint.

The first set of capabilities to move to Microsoft Azure will be Standard Chartered’s trade finance systems, allowing for seamless cross-border trade for the bank’s corporate and institutional clients.

The partnership will also advance the bank’s digital workplace transformation with Microsoft 365 and Microsoft Teams providing modern productivity and collaboration tools to Standard Chartered’s 84,000 employees across its 60 markets.

Co-innovating the future of banking

Standard Chartered will also use Microsoft Azure artificial intelligence (AI) and data analytics capabilities to enhance and automate banking processes as well as deliver hyper personalization of its client products and experiences. Co-innovation in open banking application programming interface (API) and Internet-of-Things-based, real-time payments will also help the bank unlock new banking experiences for clients.

Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft said, “Cloud computing is an enabler for financial institutions to modernize their infrastructure and systems, to gain the agility they need to respond to competitive pressures, regulatory environments and customer demand. We are committed to helping Standard Chartered Bank in its ongoing digital transformation journey as it strives to address evolving customer needs and build the next generation of banking experiences.”

Addressing the social needs of communities in the emerging markets

Standard Chartered strives to understand the evolving needs of its communities and be an enabler for change. As a part of the strategic partnership, the bank and Microsoft will explore sustainable finance and business initiatives to expand sustainability across the industry.

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Banking

What does the future hold for accessing earnings? Introducing the world’s first Earnings on Demand payment and debit card

What does the future hold for accessing earnings? Introducing the world’s first Earnings on Demand payment and debit card 4

By James Herbert, CEO & founder, Hastee

Let’s begin by looking at how our brains are wired. Think about the hunter-gatherer mindset: when we expend effort, we expect an immediate reward.

It’s therefore no surprise that over time, different areas in society have adapted to our nature as humans. Almost everything we want, we can get on-demand. Whether it’s instantly streaming movies on Netflix, online shopping from Amazon, or fast-food delivery from the likes of Just Eat. And, because of such technological innovations our expectations have accelerated when it comes to the pace of delivery. This isn’t individual to us as consumers in our day-to-day lives, it’s also reflected in the workplace. We ultimately want work to work for us.

Part of this of course comes down to accessing wages. Workers should be able to access a portion of their earned wages whenever they need it, in advance of the monthly pay cycle – whether to help during challenging times or in day-to-day life. We solved this solutionBut, to take this up a level, ready for the future, we introduced the world’s first Earnings on Demand contactless debit card, powered by Visa – giving users access to their accrued earnings in real-time, with the card’s balance dynamically increasing every day they work.

So what is the card, and how will it change how we access earnings in the future?

The basis is very much the concept of Earnings on Demand. At university I set up a company called Brightsparks to connect students with work opportunities so they could earn money. Yet I noticed a common trend. With students often having to wait for the monthly pay cycle to get their earnings, many were having to turn down work simply because they couldn’t afford the travel day-by-day. It became very apparent that not having £20 today could stop them earning £200 tomorrow.

It struck me that payday itself doesn’t have to be a rigid construct that people have to wait for. But this isn’t specific to students. Liquidity is a widespread issue faced by people in all industries and of all ages, and according to our most recent Workplace Wellbeing Study, 82 per cent of people turn to high-cost methods of financing to tide them over when needed.

The Hastee Card effectively makes wages directly accessible: it simply lets people spend a portion of  what they’ve already earned.

Some people might wonder why they’d want to step away from the standard monthly pay cycle. But consider this: the monthly payroll (via a cheque) only came about in the 1960s as an Act of Parliament. Before this, most people were paid weekly in cash. The first major firm that shifted to monthly payments did it for cost-cutting. It worked for the employer more than the employee. In fact, that firm’s employees had rejected their employer’s change of payment type when it was first trialled a decade before (look up ‘Pye Radio’). So the way that workers and organisations interact around pay is not set in stone – it changes as technology and society shifts.

The way we perceive and use money keeps evolving. Apple Pay, Monzo, and PayPal have completely changed the way payments can happen, yet payroll still remains largely unchanged. It’s only a matter of time before disruption becomes more widespread.

Looking at it from the employer side, it has its benefits too. Before the climate changed, businesses were accommodating enhanced workplace benefits such as no-desk policies, flexible or remote working. In all cases by businesses offering more, they tend to see a more engaged, happier and less financially stressed workforce – leading to increased productivity.

Earnings on Demand is ultimately a perk that presents an ethical alternative to high-cost credit options such as payday loans, credit cards and overdrafts. And existing solutions offer zero impact on payroll processes, zero impact on the cashflow of the business and are designed for quick, simple integration.

The Hastee Card is an evolution of this all – preparing for the future. It builds upon and enhances the user experience by reducing friction and offering immediate spending power as well as a path to greater benefits such as cashback and rewards in the not-to-distant future.

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