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TeamViewer/Jyske Bank CASE STUDY

Jyske Bank

By supplementing phone-based support with an intuitive and highly secure remote PC access facility, the major Danish bank is able to resolve log-in and performance issues more promptly for customers of its Netbank online banking serviceJyske Bank

As Denmark’s second largest bank, Jyske Bank A/S is continuously striving to provide a differentiated, value-added experience for its customers. Adapting to its evolving needs means being prepared to embrace the latest customer service channels. Today some 70-80% of clients actively use the bank’s online service, Jyske Netbank, to manage their accounts – numbering hundreds of thousands of people.

Challenge: Minimising Customer-Specific Technical Issues with Online Banking Services
Ensuring that customers enjoy a consistent, reliable and high-quality online experience is vital to the success of this important channel. To this end Jyske Bank has an extensive team of 30-40 people dedicated to supporting online customers, across four different departments. Just one of these departments has logs detailing 8,000 support files built up over a period of three years. Extrapolate that figure across four departments, and this makes for a considerable workload.

Initially Jyske Bank supported its Netbank customers by telephone. If they were having problems setting up an online account, logging in or completing transactions, the support team would ask them questions to help trace the source of the issue before guiding them through remedial action. This process was time consuming and relied on the customer’s ability to explain the problem clearly, and to act upon the support team’s instructions. Miscommunication could result in delayed resolution and customer frustration, interrupting the flow of transactions and reflecting negatively on the bank’s brand.

Solution: TeamViewer Allows Bank to Take Control, Alleviating Customer Stress
With volumes of Internet customers growing at an accelerating pace, Jyske Bank decided it needed a more efficient and reliable way of supporting its online account holders remotely.

Four years ago, the bank was introduced to TeamViewer, a specialist remote access tool which enables support personnel to securely log into customers’ PCs or other access devices and complete diagnostics and fixes by remote control.

Knud Albrechtsen, Jyske Bank’s IT administrator, with responsibility for all of the bank’s workstations and servers, explains the appeal of TeamViewer over alternative solutions: “It’s very easy to get the user started – you don’t need to be a rocket scientist to install it, and it’s intuitive for both the customer and our support people. It also works across a range of different platforms – not just Windows but also Mac and Linux – which is important as we’re dealing with a very broad market.”

Most importantly, however, the system is highly secure – and traceable – so neither the bank nor its customers need to worry about sessions being hacked, or unauthorised remote access sessions taking place. “We are able to log the sessions which is important for legal purposes, as it means we can show exactly when we were logged on to their system and what we did. This protects us, and gives the customer total peace of mind, says Ms Albrechtsen. “These records are crucial, in case a customer ever complains.”

TeamViewer Success Fires Bank’s Imagination, Prompting Additional Use Internally
As a result of using TeamViewer Jyske Bank is able to support its online customers swiftly , efficiently and completely securely, heightening their experience of the Netbank service and smoothing the flow of transactions.

Calls that previously might have taken a significant amount of time to resolve using a painstaking series of questions and answers between the client and support staff have now been replaced with quick-fix remote access sessions, involving little or no input from the customer. Customer confidence in, and satisfaction with, the online channel have increased as a result, to a point today where up to 80% of Jyske Bank’s customers actively use the Netbank service.

The support team are effusive in their praise of TeamViewer and its impact on their ability to serve customers more efficiently. One comments, “We use TeamViewer all the time. It helps numerous customers each day, both to mitigate trivial problems and for more cryptic technical challenges at the customer’s end – problems where we might otherwise have given up, or spent much more time on it than we do now.”

Another adds, “After three years’ experience in Internet banking support without the use of TeamViewer, and now three months of experience with it, it’s my opinion that it makes a huge difference to the quality of customer support. Many customers find it very difficult to explain the problem they are experiencing, with the result that it can take a very long time to help the customer. With TeamViewer we can often identify the problem right away, and try out a range of possible solutions if necessary – something that would have been very hard to do previously.”

From the bank’s perspective, in addition to exceeding customers’ expectations and boosting its brand perception, it is now able to service more customers in a fraction of the time, boosting internal productivity and efficiency. “TeamViewer is a vital tool for managing our online channel,” says Albrechtsen. “We absolutely couldn’t do what we do without it.”

Jyske Bank is so impressed with the simple efficiency and transformative impact of TeamViewer that it is now looking at additional ways it can harness the technology internally. In particular the IT team has put in a special request to TeamViewer for additional functionality that will allow them to install and monitor servers remotely across the bank’s numerous locations, without risk of the activity being seen publicly over the Internet. “We want to be able to see what’s going on, but without anyone being logged on,” Albrechtsen explains. “The alternative solution, Netop, which we use currently, is very expensive.”

“Something that has particularly impressed us about TeamViewer is that they’re willing to listen to this kind of request and take it to their developers,” he concludes. “We await the results with great interest.”

 

 

 

 

 

 

 

 

 

Banking

UBX appoints new Chief Investment Officer

In line with its strategy to explore and invest in companies and platforms of the future, UBX—the Fintech and Corporate Venture Capital arm of Union Bank of the Philippines (UnionBank) — is announcing the appointment of Matthew Kolling as the company’s Chief Investment Officer (CIO).

Matt Kolling

Matt Kolling

As CIO, Kolling will be managing UBX’s Corporate Venture Capital (CVC) fund. He will also play a key role in raising capital for UBX while assisting the company in key corporate transactions, including the structuring of joint ventures and acquisitions.

Prior to his appointment at UBX, Kolling has been Head of Venture Investments at Aboitiz & Company since 2019, wherein he had been working with UBX on investment portfolio decisions. Before that, he held senior positions in Private Equity, Venture Capital, and Investment Banking at firms such as Providence Equity Partners and Morgan Stanley in New York.

Kolling has more than 20 years of experience in managing investments and deals in the Technology and Telecommunications industries and is active in Venture Capital and startup communities in the Philippines and the Southeast Asian region. He currently chairs the Manila Angel Investors Network, among others.

“We at UBX are excited to welcome Matt as our new CIO. We firmly believe that Matt will be instrumental in driving value creation opportunities, both within the CVC fund and our corporate ventures. We look forward to working with him as we fulfill UBX’s vision of a future where banking services are embedded into everyday experiences that matter,” said UBX president and CEO John Januszczak.

Meanwhile, UnionBank president and CEO Edwin Bautista said, “The addition of world-class talents in our pool reinforces our strategy to future-proof the organization and our business as we prepare for many new opportunities that come with the changing times.”

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Banking

It’s all relative: Older generations feel helping out the family financially is more important since the Covid-19 outbreak

It’s all relative: Older generations feel helping out the family financially is more important since the Covid-19 outbreak 1

Before Covid, 23% of people prioritised helping younger generations out financially, that increased to a third as a result of the pandemic

A recent survey* conducted by Hodge has revealed that the Covid pandemic has led to more people wanting to help younger family members financially.

A third (31%)** of those questioned said that since the Covid outbreak giving a financial gift to children or grandchildren is more important to them, compared to 23% who said it was a priority before the pandemic.

The traditional “Bank of Mum and Dad” is still very much open for financial help, with parents being responsible for 72% of the gifts, but the study also revealed that financial gifts can come from all corners of the family – including children (14%) and siblings (14%).

The survey also found that a third of people have received a financial gift from family, with those aged between 25-34 as the most likely to receive

The most popular reason for gifting money to family is for special occasions such as a quarter of gifts were given for weddings and birthdays but 11% of people have received money to help with big purchases such as cars and houses. In addition, 19% of people have received help with day to day finances, with around 14% of those receiving a gift have done so to pay off debt.

Emma Graham, Business Development Director at Hodge, said of the research: “Our study showed that, as a nation, we all want to help our family out when it comes to money. And whilst we all think of the Bank of Mum and Dad or Gran and Grandad as a traditional source, we were surprised to see that 14% of brothers and sisters are also helping out.”

The findings come from a recent intergenerational study conducted by Hodge, who interviewed over 3000 people about their attitudes towards finances and their aspirations for the future. The full research findings can be found at https://hodgebank.co.uk/2020/05/19/money-its-all-relative/.

As part of the study, people were also asked about paying back the gift, with 40% of beneficiaries expecting to pay their parents back, but this dropped to 28% if the gift came from grandparents.

From the gift donor’s perspective, 26% expect the gift to be paid back, however just 15% of grandparents expected the money back.

Hodge has produced a set of guides on how families can navigate the tricky subject of giving financial gifts within a family, as well as the considerations and steps that be families should think about taking before a gift is given, such as is it a loan or a gift and thinking about contingencies if the family member’s circumstances change. The guides can be found here: https://hodgebank.co.uk/news/

Emma continued: “It’s clear that families feel strongly about offering financial support to each other if they are able and this has increased since the Covid pandemic. Before Covid, 23% of people prioritised helping their families out financially in the next five years. Since the Covid-19 outbreak that has increased to a third of people saying helping a family member financially had become more important.

“So, it is clear that the Covid-19 lockdown and subsequent predicted economic downturn, has led to more families looking to share wealth to help younger children or grandchildren during this difficult time. Many people may look to Later Life mortgages, where many products have reduced their rates and have flexible lending criteria, to help out a loved during these difficult times.”

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Banking

New report identifies the factors which will determine SMEs’ chances of a successful COVID recovery

New report identifies the factors which will determine SMEs’ chances of a successful COVID recovery 2

·         Analysis of the performance of over 1,000 UK small and medium-sized businesses by Allica Bank provides roadmap for SMEs 

·         Regular training, an openness to innovation, and a clear vision all contribute heavily to an SMEs’ chances of success  

·         Allica Bank has launched a programme of free workshops to expand on the findings and support business owners 

Business bank, Allica Bank has combined data and insight from over 1,000 UK SMEs with a multiple regression analysis to determine what factors most closely aligned with an SMEs’ chances of success and separated the highest-performing businesses from their peers. These ‘rules for success’ have been compiled from the research data to support British businesses as they look to chart a course to post-Covid recovery.  

The full report identifies six behaviours for small and medium businesses to follow, to maximise their chances of a successful COVID recovery. The six top-line rules emphasised by the data were: 

Rule 1: SMEs should regularly train staff 

Of the top-performing businesses analysed, 47% provided training for employees at least on a quarterly basis, compared to just 32% of other businesses. Regular employee training was linked closely to success by the model.  

Despite this, many small businesses have neglected training and nearly half (46%) of the small businesses analysed only provide training for employees about once a year or less often. This included 15% that never provide employer-funded training. This discrepancy could represent a significant opportunity for small businesses to unlock the potential of their employees and thrive in the post-Covid economy. 

Rule 2: SMEs need to focus on innovation and technology 

Looking again to the best performing businesses, 76% were found to either continually (39%) or often (37%) be considering new opportunities for technology in their business. This is compared to only 51% for businesses considered to be outside of the top ranks, out of which only 27% admitted to continually looking for new technology opportunities. 

Rule 3: Small business must have a formal, long-term vision  

Nearly two thirds (66%) of the most successful businesses in the survey had a formal, long-term vision, compared to just 50% of businesses outside the top 100. Looking to the businesses that scored the lowest on the SME Performance index, only 37% claimed to have a formal, long-term vision. 

Rule 4: SMEs should broaden their customer reach and find new markets 

Of the top-performing businesses, 65% of these have overseas customers compared to just 40% of the worst performing businesses. Among the best performing SMEs, over a third (34%) identified international expansion as one of the top three drivers for their success. 

Rule 5: SMEs need to develop reinvestment plans 

22% of the best performing SMEs reinvested some of their profits into the business in the past three years with an average 9% of profits being redeployed. Tellingly, this is nearly double what other businesses admit to reinvesting in their business (5%). 

Rule 6: SMEs should engage with local business organisations and networks  

Of the top 100 SMEs, 30% had obtained external credit to expand over the past three years (compared to 24% of other businesses). Meanwhile, only 16% of all other SMEs had engaged with local enterprise partnerships or growth hubs in the past three years (compared to 23% of the top 100 SMEs). 

Chris Weller, Chief Commercial Officer, Allica Bank, said: 

“All small businesses are different, as are all small business owners, but one trait they share is an innovative resilience. Whilst the coming months and years will undoubtedly continue to present extreme challenges, there is no doubt that small and medium sized businesses across the UK will rise to meet them head on.  

“To give them the best chance to succeed, though, they need to be equipped with the right tools. There is certainly no silver bullet or panacea for every small business, but as this study has found, there are a number of common factors found in the most successful businesses that allow small enterprises to thrive and that they can consider individually for their business.  

“This research has identified common ‘rules for success’ that speak to every aspect of running a business, not just the financials. Once we saw these results, we wanted to use them to help small businesses begin to re-build and prosper, by outlining common factors and then examining how best they can be practically applied to businesses in all sectors of the economy.  

“Small business owners and their employees have been hit hard by the crisis, but they have the drive and resourcefulness to breathe new life into the economy and bring energy to post-Covid Britain. Our commitment at Allica Bank is to give them the support they need to do so, every step of the way.”

The full report contains a wealth of additional data and insight into each of these topics. As part of its mission to empower small businesses, Allica Bank is making the findings freely available and running a series of free online workshops with relevant partner organisations for businesses to attend.

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