Customer experience management
profit from these surrounding efforts, avoiding the need to reinvent the wheel.”
Innovation labs combine engineers and development teams to support customer satisfaction.
The studio addresses three core objectives, according to Laurent Darmon, La Fabrique’s CEO and new business director at Crédit Agricole. These include creating independent start-ups, financing and supporting their growth and facilitating hybridisation with Crédit Agricole as a group. “La Fabrique by CA’s strength is that it’s able to create an autonomous offer, or a dedicated one in a ‘white label’ in partnership with the group’s banks, with specific advantages to be invented each time,” Darmon explains. “Since we think of the product from the outset to integrate in one way or another with the group’s strategy, we agree on a way to build the dock or integration.”
At each stage, the start-up studio guarantees the balance between the needs of the start-up and those of Crédit Agricole.
30% 84% lightico 38
The percentage by which banking customer service satisfaction rates have fallen since 2012.
As Darmon puts it: “During the construction phase, the team dedicated to the start-up company manufactures the product and puts in place the resources necessary for its development. At the same time, the studio ensures accountability regarding the bank’s digital ecosystem and compliance with security rules.” Noteworthy, in any case, is the fact that La Fabrique by CA isn’t really involved in incremental innovation. On the contrary, Darmon and his team either want to transform the traditional way a particular thing was done, or else try to create totally different business models.
This revolutionary approach is equally clear across the Pyrenees, where BBVA-Labs has emerged as a ‘cross-inventing’ team – cross-departmental, cross- technological, cross-country and indeed ‘cross-fun’ as the bank cryptically describes it.
The percentage of people that said they’d change bank if a rival offered better customer service.
Pascual de Juan, innovation labs director at BBVA, explains that BBVA-Labs was an attempt to standardise innovation across the bank as a whole. “There was a multiplicity of technical innovation initiatives in several countries and units,” he says, “and the main goal was the cross-pollination of ideas to drive
Real-world successes BBVA’s approach is also helpful from a financial perspective. As de Juan says, being a “commonwealth of innovators” means that every team in BBVA-Labs relies on its own funding. This improves each team’s autonomy, though there have also been cases where different projects will share resources to avoid running out of money and being forced to give up on promising ideas. Not that BBVA-Labs is totally freewheeling. Like at DZ Bank, after all, top managers at BBVA keep an eye on what the designers are up to, helping them get a sense of the latest tech trends while also integrating the innovators into the hard-nosed reality of BBVA’s corporate strategy. That’s probably just as well. For if every innovation hub project is partly the brainchild of some errant genius, they’d equally be pointless if they didn’t actually help customers in the real world. Fortunately, it’s clear that the innovation hubs are showing their worth here too – albeit in occasionally subtle ways. “Not all the technical innovations reach, or are even noticed by, the customers,” de Juan says, comparing tweaks to the special effects in movies. As he stresses, the best changes are often those that remain unobtrusive. As far as BBVA is concerned, a good example involves moving the bank’s payments authorisation centre from the mainframe to a so-called ‘active-active’ replacement – ensuring that technical blackouts now remain invisible.
More to the point, this new approach means that offering a bank card with secure CVV numbers is far easier than ever before, an innovation that’s quickly been adopted by BBVA customers across Italy and Spain. Nor is BBVA unique. Apart from Blank or Yapla, after all, one of the most interesting recent examples out of La Fabrique is known as Sline. Backed by funding from both La Fabrique CA and Crédit Agricole, this turnkey solution helps retailers use leasing arrangements to diversify their businesses.
DZ Bank, for its part, has developed similarly innovative customer-centric solutions. Thanks to the Innovation LAB, for instance, its InGen information platform now boasts a machine-readable feature, helping users close trades more easily. And beyond these specific examples, you can’t help but think other banks will be taking similar steps in future, if only to avoid falling behind the competition. Innovation labs, in short, seem destined to remain crucial to the industry’s customer service for a while – especially as customers themselves continue to make themselves heard loud and clear. ●
Future Banking /
www.nsbanking.com
Monkey Business Images/
Shutterstock.com
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