TAdviser Interview: The senior vice president of VTB Ivan Pyatkov - about the digital strategy of bank
Ivan Pyatkov, the Head of Department of digital business, the senior vice president of VTB, in an interview of TAdviser told how the bank transfers clients from departments to remote canals of bank service (RBS) and as in the course of merge to VTB remote links of VTB 24 and Bank of Moscow integrated.
Ivan, what today channels of service of VTB united bank and what channels are priority are?
Ivan Pyatkov: As for digital-channels, since the beginning of year we started the new integrated website of VTB, the joint Internet and VTB-Online mobile bank. These channels are the base of digital architecture of retail business which will be fully unrolled by the end of 2018.
I will separately note start of the new website vtb.ru. It not just integrates in itself(himself) the websites of VTB, ex-VTB 24 and ex-Bank of Moscow in one visual style, and harmoniously integrates all businesses under one brand. Design of the website began with a big research. The command conducted several hundred deep interviews with clients, the staff of departments and representatives of business to reveal insights and scenarios which we laid in it the foundation.
We paid special attention to adaptation of the website for clients with limited opportunities. We use special settings which make it available to visually impaired clients. It is an important trend, and we in every possible way support it.
There are popular concepts of "mobile first" and "mobile only" assuming that all communications with the client go to the mobile canal. Whether you see such trend? And, if yes, that as it affects development of remote channels of VTB?
Ivan Pyatkov: It is an obvious trend. Every month we see dynamically growing indicators of transaction activity of clients in the mobile channel. Now about 3.5 million people monthly make financial transactions in VTB-Online mobile bank. It several times is more, than in Internet bank. However we do not transfer all our communications only to the mobile canal. We adhere to the strategy of Customer Value First – i.e., we rely, first of all, on preferences of clients and, proceeding from it, we aim to develop all remote services.
In the course of integration of the RBS systems at consolidation of VTB and earlier existing VTB 24 and Bank of Moscow what of these systems remained are legacy and what are already disconnected? And how there will be an integration of channels to the former VTB 24?
Ivan Pyatkov: Within accession of ex-VTB 24 to VTB of one of key tasks there was an ensuring comfortable and seamless transition of retail clients of both banks in integrated mobile and VTB-Online Internet bank, as a basis which the VTB 24 Online system was assumed. Therefore for clients of ex-VTB 24 the procedure of work in RBS channels did not change in any way, they do not need to undergo additional registration and identification.
As for retail clients ex-Bank of Moscow, they need to undergo the remote procedure of connection to the VTB Online system, new to them. It does not require visit of office of bank. By our estimates, in 1 quarter 2018 a third of users ex-Bank of Moscow will pass into "VTB Online". At the same time, for the purpose of ensuring comfort of clients we continue to provide access to RBS ex-Bank of Moscow, providing support of this software.
What in general perspectives of development of banking mobile applications in terms of new features? Whether there can be, for example, push-notifications allowing to save on SMS?
Ivan Pyatkov: We already use push-technologies as the alternative channel of delivery of messages to clients. Now by means of push clients receive codes for confirmation of an input in mobile application and performing transactions (those at whom Touch ID and Face ID technologies are not connected). Also on the basis of push-technology for clients of VTB mobile application Smart SMS which allows to monitor expenses and demonstrates all operations with cards works.
This method of the notification has clear advantages: first, this convenience and speed – the code itself is substituted in the necessary field, the client does not need to enter it with own hand; secondly, the transmission channel of push is ciphered, unlike SMS, and the text of the message is not stored on phone. It provides big protection of transactions.
If to speak about perspectives in general, then here, certainly, there is a serious potential. Technologies develop very quickly: now we, for example, can come into the application using identification on the person - Face ID, to make instant money transfer and to obtain the credit, without visiting office.
There is a concept "the sleeping client". These are such clients who downloaded, but do not use mobile application. As far as it is a serious problem and how with you you fight against it?
Ivan Pyatkov: The main recipe is the correct communication. It is important to let know that to use the Internet or mobile bank - it is simple, safe and convenient. In this plan we developed strategy of communications with clients: we do trigger mailings, we develop instructions, infographics, we work offline – in network of departments.
What strategy and tactics of promotion of remote channels of service of VTB? And whether the bank has a separate strategy for transfer of people from physical contact to remote canals? How do you force clients to migrate in them?
Ivan Pyatkov: We use several tactics and tools for promotion of our digital-services. First, we successfully apply a complex translation model of clients from offices to digital-canals. Employees of the bank at the time of sale of a product or just consultation already know on the basis of data from the software as far as the person is active in "VTB Online": after identification of the client the mark about his activity appears at once. Employees the front line are aimed at reduction of the servicing transactions in offices, such as payments and transfers, and for this purpose help to install mobile application and online at once in it to perform necessary operation. Thus, the person leaves office, first, with installed application, secondly, already with skill of its use. This model at qualitatively new level allows to advance our digital-services among all segments of clients.
In addition, at 300 offices of VTB consultants for remote channels work, and departments are equipped with tablets with the preset mobile version of the application. A role of employees in this case – on the entering flow of users to reveal their requirements and, at an opportunity, to resolve an issue in "VTB Online" at once. Managers help via the tablet or the smartphone (at the request of the client) to perform operation online, without expecting in queue.
To understand as far as such format of service is useful and convenient, we conducted survey of those clients who were serviced via tablets. Nearly 90% from them personally for themselves revealed new useful opportunities "VTB Online" and will continue to use it for the solution of the financial tasks.
As for remote promotion of online services, in addition to classical CRM mailings, we use triggers within lifecycle of users. For example, we have a big base of salary clients who to a lesser extent visit offices of bank. We know when they get paid. That they showed activity in "VTB Online", a day before charge of money and depending on a client profile we automatically send them SMS with the offer to make this or that transaction in Internet or mobile bank. Such tools allow us to increase the probability of use of remote channels, and here we see high potential for development.
Whether you considered cost efficiency from customer move to remote canals? For example, reduction in cost of cost of service in comparison with service in bank departments?
Ivan Pyatkov: Yes, of course, and we actively use this tool in work. We know the average time of similar transactions which is spent by the staff of departments: time for opening of a new deposit, when means already on client accounts; transfers between the accounts; monthly payments on the credits; implementation of other payments; design of credit products, etc. Also we know the average cost of 1 minute of work of the employee by Moscow/MO and regions. From this we make economy calculations, we reduce the price of service of the average client for bank.
For example, in our digital channels there is a function of partial or complete loan repayment. It is very demanded and convenient transaction takes at most 3 minutes the client. In department carrying out such transaction can take up to 15 minutes. The difference is obvious.
What your forecast of dynamics of development of retail network of departments? Whether there will be a trend on reduction of network of bank departments due to RBS development?
Ivan Pyatkov: It is unlikely it will happen in the near-term outlook. A large number of clients has a need to visit bank departments, to personally discuss all conditions, questions with employees, to purchase large banking products, for example, a mortgage, etc.
We are also aimed at displaying mass and simple transactions in RBS, thereby, releasing the staff of offices for a bigger flow of new clients and complex sales. Anyway, in the next time we are going to support our clients in all canals further: departments, contact center, online chat, RBS.
The technology of "zero visits" is how strategically important for VTB. Whether VTB can issue the credit on the basis of data, collected remotely already now?
Ivan Pyatkov: I consider that this technology is very perspective. Already now it is not obligatory for salary client to visit bank at all. For it we do a special offer, and it can issue the credit to 1 million rubles in "VTB Online". Thereby, the client saves the time, and process of receiving the credit becomes even more comfortable.
Whether the situation is possible, kogdabank will learn about the client only on external signs that it was not necessary to show the passport? Whether complete identification on the basis of external data is possible?
Ivan Pyatkov: In the long term it is quite admissible scenario.
What data do you collect about people through RBS? Whether you resort for data collection to services of operators or, for example, to "Yandex", to social networks? Where do you scoop data for providing more personified offers for clients? What here approaches at VTB?
Ivan Pyatkov: We use in work only those data which clients provided and also information which contains in open sources. At the same time it is important to emphasize that we use them only for the purpose of personification of communications with clients and offers more relevant to their requirements of products and services.
Having data bulk about clients what opportunities in the medium-term future appear for banks?
Ivan Pyatkov: Opportunities are connected with the personified communication with the client depending on his preferences, location, the history of addresses, transactions and other data. Thanks to it users will be able to issue and receive quicker and more simply the products and services interesting them. Use of Big Data technologies will allow to define most precisely needs of the client and to offer optimal variants of bank services and products.
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