Charting of Course

Future Banking caught up with Helen Kan, Global Head of Customer Experience at Standard Chartered Bank, to get her perspective on how the bank is looking to technology to help prepare for the future.

Future Banking What is your role and responsibility?
Helen Kan I have a global role, and am responsible for our strategy, financial performance and profit goals through management of over 1,500 branches, call centres and direct sales agents across 36 countries in Asia, Middle East and Africa. I have been in the banking industry for 23 years in a variety of senior management positions in areas such as distribution management, quality management and training and development.

FB In terms of technology, what is the bank doing in regards to branch transformation?
HK Banks ask themselves a lot of questions. Why do customers have to go to the branch? Is the branch dead? Do the current branches satisfy customer needs? Unquestionably, technology is changing the competitive landscape of banking, and has the potential to change the ways that banks operate. Technology is changing the way that customers interact with banks. Internet banking continues to gain in penetration and increased access to broadband communications will accelerate this growth. With the advent of technology, many routine transactions can be handled by non branch and electronic channels. But research shows that the branch remains an important and integral part of the value chain. The branch needs to become a place where customers find value in interacting with bank staff – for advice or problem resolution.

As a result, we have been enhancing the use of technology in the branches for one main reason – to deliver superior customer experience. This is done through improved efficiency in transaction handling for the customer and greater investment in automation and process redesign to enable our frontline staff to better serve customers.

FB Where are you with customer experience?
HK That’s the next battleground where customer loyalty and share of wallet will be won. Technology is an important enabler, in the form of, for instance, CRM systems, new customer authentication digital multimedia etc. We have invested and tested a number of these new initiatives. However, this is not the be all and end all in the creation of superior customer experience. Providing the best customer experience requires an entire organisational effort to ensure the physical, sensory and even ‘emotional’ needs of the customers are all met.

FB What about things like Web 2.0?
HK Enterprise adoption of new technology has lagged behind use of technology at a social and personal level. But Web 2.0 and its high adoption will mean organisations such as banks have to re-think their technology strategy. Customers will expect the same ease of use and access to their banks as they do in their daily lives in terms of how they can access and interact with bank staff; how they can use all different channels, either face to face or electronic channels; how they can access information from the bank; how they can get things done /products and services from the bank in a simple and hassle free manner.

FB How will the bank look in five years time - and how much of this will be down to technology?
HK We aim to be the bank with the best customer experience in 3 to 5 years and in the league of the best international companies. Banks in general are not renowned for this at present. This is a major change programme: it will take a totally new mindset to transform the way we operate.

Secondly, it requires alignment of the entire organisation towards the customer. Lastly, it needs executional excellence and continuous improvements in re-designing our business processes, supported by the right level of new technology.