Digital Capability

DIGITAL CAPABILITY

This pillar reveals the strengths of Affluent Banking providers who offer top-notch insurance products to match the diverse needs of affluent individuals, millenials and their families.

Available Categories for 2018 are:

DIGITAL BANKING AWARD

We are looking to award a bank with an overall execution excellence of its digital strategies across all channels and branches. The bank embraces technology to its full and is building its business to have significant impact. Judges will be looking at 360-degree coverage. They will consider how technology is enabling the company’s internal processes; how it collaborates with agencies, brokers, and internal staff; how it has built a platform to distribute products and services to customers; and how it would meet regulatory and compliance challenges effectively. And most importantly, how these strategies have contributed to the bank’s overall competitive advantage and support growth initiatives.The digital transformational leader needs to demonstrate its successes in the following criteria:

  • Deployment of Omnichannel – including the use of tablets, digital assisted face-to-face interaction, video chat on mobile devices, etc.; how technology enhance human touch via remote touchpoints, allowing branch personnel to quickly recognize the customer and make predictions of the next step.
  • Advisory Services Support – is robo-advisor the answer or is the bank leveraging on technology to better serve clients and tighten relationships across product lines? Whether there is integration with the customers’ financial services and money management.
  • Customer Experience – whether the overall execution supports and enables customers to choose between physical or digital sales and services and to transact at any given location and time. Whether customers can through one log-in receive balances, recent transactions and product recommendations.
  • Empowering Customers – whether digital tools and content help consumers select products and services and whether the tools enable customers to take control of their decisions.
  • Empowering Employees – whether the digital process, tools and content across channels and the real-time customer insight increase employees’ overall productivity and their intelligence to provide better sales and service support, and possibly generating predictive offers.
In less than 2,000 words and in line with the above criteria, please explain to the judges why you should be crowned the one and only Digital Bank of the Year.
 

MOBILE TECHNOLOGY

Mobile devices are now an essential part of people’s lives. More and more customers think convenience is king, and millennial have openly said they’ll consider changing providers if their digital needs are not met. 

We are looking to award the company with the best-in-class strategic approach to its mobile offerings, which enhances the user experience and provides the functionality and usability that drive sales and increase consumer and intermediary engagement, strengthening customer loyalty and/or leading to an increase in customer retention. 

Contestants must demonstrate a strategy and utilization of new technology that put the customers at the center and set an industry standard of excellence with an innovative design, ease of use, and convenience.

  • Strategies – whether the strategies and model were set out to enhance growth, reduce cost, optimize sales and empower customer interactions, and how strategies were being executed.
  • Staff Alignment – whether there is an effective program to train staff and build up the necessary skills and whether the programs are innovative and hands-on. It also considers whether the program is aimed to achieve sustainable improvement.
  • Tools – what are the tools being used and whether they are designed for achieving best practices against sales and marketing capabilities? How does it help the sales force, growth and decision making, and drive sustainable changes as an enabler?
  • Business Results – whether there is clear enhancement on ROI through cost reduction in general and administrative costs, creating a lean back-office sales operation, reduction of cycle time and errors in sales support, and increases in sales and cross-selling, etc…

Very importantly, please show the judges screen captures of your applications and information for downloading and testing your apps.

In less than 2,000 words, please explain to the judges why you should win this award based on the above criteria.

DIGITAL PROJECT OF THE YEAR

We are looking to award a successfully implemented digital project. It could be the development of a selling tool, an interactive website, an integration with a third-party platform, etc. The project must have a clearly defined objective, whether it is for marketing, sales, risk management, or something else.

Please highlight how the project was conceived, developed, and implemented to achieve those objectives and the types of challenges your team has overcome. Finally, tell us the effectiveness of the project, whether it has achieved the project’s targets and performance against internal metrics, etc.

In less than 2,000 words and in line with the above criteria, please explain to the judges why your project initiative should win Digital Project of the Year.

Very importantly, please show the judges screen captures of your applications, and information for downloading and testing your apps.