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you [Music] [Music] you you [Music] you you [Music] all right I think we've joined the family I'm sorry about that we've had some phone issues here on our end because someone one of the other organizers just let us know can you hear us right now this is Dave we can yet yeah okay we're ready to rock sorry about that we apologize for the delay so one more time before we kick this off if you do intend on asking questions within the webinar just be sure to enter your audio pin which is provided to you and you'll get to your questions shortly so with that babe I'm going to go ahead and kick it up to you all right Mitch thank you hi everyone this is dave Farren's i'm a customer experience advisor with Oracle and I focus on the customer service aspect of the the overall customer experience and today I'd like to thank our partner helix solutions for setting up and putting on this webinar that's going to help what we want to help you with is we want to help the banking industry think about how to acquire more customers how to retain more customers and do it more efficiently and with that i'm going to introduce the panel today so first would be Travis caught him he's the vp of business development with helix he's going to take us through some ideas on things you should be thinking about and then Adam luff is going to talk he is a CX strategist and principal consultant with Oracle Adams going to specifically to address the DOL food douchery rolling and how that might affect how am I might affect the banks today and then Jason Kota is is the compliance and solutions director for policy automation at helix so with that Travis let me hand it over to you thanks everyone for attending great thanks Dave and takes everybody was able to join today based here in Montana and and on the road and most of time so it's good to be home for a weekend and do this over the phone and I think we're going to get some snow here tonight so it's a nice welcome home but so this is so we have on the agenda today where I talk about disruption I'm in the world and and you know with with technology we're going to evaluate your industry and get into some thoughts what's happening and making in financials the role the impact to roll that modern service you know has can have on on on disruption you know growing the top line and go on the bottom line and how you use modern service to do that what this looks like for banking to identify what who the customer is the view of the customers what modern customer experience customer service that looks like in banking and financials make it into compliance and regulation and solutions for that with Oracle policy automation and I'm going to go into some Q&A and call to action the best we'll get right into it so just to spend a little bit of vision and what we're talking about as far as disruption in beef in the world really with with technology you know who birth courses is a great example that we were founded in 2009 has a 40 billion dollar market cap Kirk's 1918 only eight billion 46 4.5 billion they had done that in such a short amount of time with very very little overhead and there's a lot of these other examples you can think about their B&B 2008 25 billion dollar market cap Hilton was started in nineteen nineteen not only a 23 billion market cap you know there's a blockbuster examples that you know are out of business so technology is changing our world is changing all industries and there's a lot of you know industries out there and companies that you know really are trying to survive with all of this disruption so what does that mean in in hill your industry you know there's there's a lot of things that you know you can't see and you're trying to react to you need to find innovative ways to react to know different compliance regulations that are currently in always a very hot topic but you also need to use technology and modern service to understand and try it around a couple corners and see what you can see you have to see past the horizon and innovate and get ahead of some of this disruption orange and survival a good example of you know disruption in your industry is cabbage founded in in 2009 and fifty seven hundred percent growth over three years right and there's other examples in in your industry and more you know competition you know popping up all the time different quicken loans and other other you know organizations that have you know very strong online presence very little overhead nimble and quick to do business with you know there's one more something I want to talk about as far as disruption this is a a study viacom study produced by the Millennials disruption index study was conducted over a period of three years and you know this the main major outcome of this study is that the financial and banking banking industry is the most ripe for disruption this Dutton's outcome said that you know they you know customers want to access through money and interact differently than they do today they're looking they're looking for innovators in financial services they want to have a modern experience customers expectation that they have a cig modern experience that they have with with retail with you know other verticals and they want that same experience of Fame interaction that's our expectation they want to have that engaging financials you know some even believe that there won't be a need for four banks at all in the future so so now we're going to get into we feel are the goals in the matter and I challenge that if you take a step back and look at your your organization's the goals objectives initiatives for the year so they more than likely roll up into one you know of these two goals it could be quicker and nimble you know have to drive operational efficiencies you know throw the top line with a pro the bottom line so what role is served play in your you know goals of your organization to continually innovate change if the competitive well you know but the goal of service the role of service those have mattered with customers experience and customer service is first provide your customers with minimal effort you know this is identifying the crew that customer is immediately when they call in what relationship level do they have with your banks and what do they own using that intelligence to also sell to them what may be products and services to offer what products and services should they own and then effectively the leveraging that intelligence I'm capturing and interactions providing national insight from your frontline throughout the organization in real time so being able to leverage the intelligence the interactions and driving you know actually inside and results and cells and more product development listen to your customers to love to grow revenue so you know there's tactical service and and strategic service you know my you know ask yourselves are you really looking service to solve your business problems you know you're looking to your customers are using that data what your customers are asking to innovate and look around the next corner you know tactical service is very reactive you know you have to have that that we active you know service but leverage that's try and be you know be more strategic you'll be reactive and provide a great experience being reactive to take the next step to you know leverage that those interactions provide you know strategic you know strategic service and drive acquisition and retention enable efficiency this is allowing your customers it's supporting and creating cells it minimizes risks and it provides executive decision making so as where you fit in are you using customer service as the tip of the spear they're using you know customer service to really drive you know business outcomes so what does you know more of strategic service or modern service look like in banking of financials this is one example of a service called customer that has a you know start to providing a good experience this means a dynamic knowledge base leveraging all that knowledge you have in different repositories making searchable findable using that knowledge across first to provide self-service for your customers now enabling multi-channel self-service this ability to chat to maybe SMS and texting email of course phone but providing that knowledge at the point of action through many channels it's both provides efficiency and creates a great experience you know for your customers knowledge at the point of action your customers are also your co-stars in the contact center so a dynamic usable knowledge base for your for your CSRs to be able to find answers quickly and drive that efficiency and a consistent good experience to the customers through any channel it's another example of a service cloud again for on on a website and web self-service that there's different channels where you can search has dynamic knowledge base and and those customers to self-service they can also interact through to multiple channels chatting click on the phone and have a lot of different phone options and getting that a customer to the right place at the right time and also leveraging that interaction reporting on that interaction to also find what else on the absolute or whiskey to publish on your site to provide that that self-service you alright now we're going to jump into some of the latest compliance and regulations that are hot topics and and the transition it's over to Adam to talk about this a little bit Adam it's all yours and so I always idiot all donee excuse it man okay so you can hear me now yes yes we can radically outstanding yet so Department of Labor fiduciary ruling I think as I've been studying this for the past few months a lot of the big boys now be e trade's and the Mara trade and some of the bigger banks out there thinking you know the election is going to come around we'll see what happens and they were expecting it after you know two weeks ago they're expecting this to get repealed not the case this is still here so now I'm seeing a tremendous amount of scrambling a tremendous amount of scrambling because you haven't really done anything about this yes but what I want to make here is this we as a company or we understand what this is about we see that April 2017 is a drop-dead date when you have to have your advice standards rules in place compliance with those and it seems like naming at the right people internally they're going to police it's going to review this it's also having a methodology of how you're going to do is and of course technology lends itself is perfectly so we have a we have a compliance platform that we've developed for this I'm going to let Jason talk a bit more about that in a few minutes but then after 2017 April 2017 towards the end of the year we also will need to be compliant with the exemptions so there's there's three different exemption there's be IC liked best interest case light which is really aiming at fee-based so you can actually start charging your investors so we can manage that we can also be the second methodologies where I see an awful lot of our clients going to which is the notion of robo robo advising don't yourself call centers so think about what that is and so instead of picking up the phone to my fidelity broker I do everything online okay max that's where rcvd industry is really going then the third is the CICE vice best interest case exemption which is which is where you know this is where the whales is so if you've got anybody is an invest with you and you have a lot of money at under management these are the people where you're going to have these very specific agreements in place and you absolutely must track every interaction not just phone calls but everywhere they clicked on your website so on and so forth so that they're the you know very high level these are the things that we see coming and next slide please X lied PE thank you I'm not going to go into too much detail because Jason's coming on in a few minutes there is a deal we have a we have a service compliance platform and it's based upon a number of products that we sell but here's the deal it's scalable so if you wanted a nice I'm talking from experience here I'm seeing certain accounts of owls go with just the basics now which is just be able to do the policy automation part it was Jason's going to talk about right up to the other end you know I'm talking to etrade about this is it actually going to revamp their whole customer experience in the retirement space so we point is we manage this from either tiny little piece fit all amounts of it to the larger marketing customer next slide please so last point my last slide is this we have to search the service compliance platform in the middle so we have the engine to manage this Jason's going to talk a lot about that we're Oracle we know how to integrate into your back office your system of Records and all these other things you know data storage we document retention we understand all of this of course but they think the question we'd also like to post you is not only would you need to be compliant compliance platform but how are you going to propagate this out to your third Howie if you choose to do option two which is robo advice you know chat BOTS web self-service leasing how are you going to propagate this out to your investors and that's really what we'd like to be talking to you about is we understand the compliance part of it is complicated we've got that but how are you going to take this from propagate it out to your investors your customers is going to be a complete web self-service plays are going to be a an interaction of bit of web self-service but a contact center so on and so forth and that's what really we'd like to talk to you about so now I'm going to hand this over to Jason coder who's on the phone as well and next slide please so Jason is going to talk more about this is the the engine the policy compliance tool is the engine so Jason over to you thank you thanks for joining today what I wanted to do is walk through a couple of things that I think are by definition kind of embedded within OPA and we can all see you the information up on the screen but I what I want to have you walk away with the idea of what policy automation can do at the high level what it really does is it enforces consistent policies across your enterprise in your channels so your walk in your web presence your call centers it provides an accurate and consistent information set both to your internal CSRs as well as to your clients with that where we've seen what that does is that provides a lot of confidence to your clientele as well as the ability for them if they shop another number if they are looking for a different advisor they didn't like to hear that particular answer you have the power of the Oracle automation and your policy execution to be able to trace trace that decision back to the policies in every single scenario so I found longer people no longer want to hear oh well that's what the black box said and that's what the my computer screen you're able to define your policies execute those policies and then have a fully traceable and auditable rootkit to those policies and that's really what the ideas as well as because we do work natural language we're a big fan of training and having the clients extend the solutions themselves and that gives you a couple different points a you're on the solution less cost higher ROI but what I found on that other entities is it also allows you to put changes in the production in a much more on quality controlled and even really important any quicker time fashion I ran into institutions that they know they've had a mistake and that mistake may take you know four or five days eight days maybe a week and some you know that is a couple of weeks because they have to go in there and code something they have to quality check it they have to check you know the downstream is up students effects of those changes whereas policy because you expect those policies into or across automation we've seen a great turnaround be able to get those policies and corrections into production in case there was a misinterpretation or something of that nature now the idea behind that is that in adjudication in processes intake processes not nly do you have the consistency like I mentioned but you have a much better way to help define how a regulation or a policy is going to affect you one of the things that I think is the most powerful part of Orca policy automation is its what-if analysis because we can run in real time we can understand the impact of a potential legislative matter times you know given you don't whether it be your state governing body or you know the financial body or you know the US government a lot of times you you kind of understand what these policies might change to you what you can do is change the rules run it against your actual database and then determine this is a very controlled forward managers and executives determine how that's going to affect you so if the mortgage rate drops well how does that affect your population does a good wind that I can put on the campaign for the people that wanted a mortgage loan that didn't qualify that now do qualify you can do that with good policy automation because those tools and those rules always trace back to the policy but you can you can attach them to different databases and different database elements during however what if case scenario and track those next slide where we found in the financial services industry is that they also goes those types of capabilities you'll help you on board risk scoring I'm identification according again very consistent quoting I've worked with a couple of insurance agencies where they had a hard time because there were different rules even sometimes by county and you know let alone by state so you have a lot of different products you want to offer whether it be credit cards or something of that nature that you want to make sure that you are offering the right product to the right client given the local let alone federal or national mandates and things of that nature the adjudication part is also a very very key thing that we can provide if somebody you know wants to do a post determination inquiry and felt that they did weren't given the correct answer you have a complete a complete audit trail in English which was very helpful I did a job before defense finance and accounting system you know of the Army's accounting system and trying to get these policies and some things of that nature very hard because if you do a normal coding or um you know C+ or kind of more on the technical side do you have to try to interpret that to legal the nice thing about this is that we actually pointed out the actual words in English and a microsoft word document and we got things opponent to be able to enact but it also gave that particular institution a wealth of information given a complaint or a post determination on inquiry to wear a lot of institutions sometimes you only go to different avenues all states you know you give the litigious nature they kind of throw their hands up because they cannot trace what happened on these analysis again very good regulatory compliance the last thing that I think is very unique about OPA is we have a potent thing that we call TBR which stands for time based reasoning a lot of financial institutions policies change over time and sometimes you might have an inquiry that is you know about something that happened six months ago and instead of creating multiple rule bases what you can do is have one rule base that then arm is consistent over time so if you have a policy that say kicks in June the 30th in 2017 you can already have the tested already in your production environment and therefore when do you know based upon your server clock when that time hits what will happen is they'll automatically invoke those new rule sets very very effective in you know managing things over time so if you have a csr or telephone and somebody puts in they want to look at an inquiry that they did you know six months ago the csr doesn't have to fight with all what rules apply now versus then they'll be able to retrieve that information and know exactly what rules were fired at that point in time so that's one of those things that are that are unique those are really that the high-end level things that I've seen out in the industry were you know automating and executing consistent policy across the enterprise and be able to understand what decision was made at what time against what policy set has been very beneficial and then Travis I think you take it the premier thanks Jason very good come so so recommendations you know is to get started with a component I strategy identify the were the biggest what you know where the biggest impact quickest to implement you know component is and get started you know knowledge at the point of action make that tribal knowledge into the common knowledge for your CSRs but but also provides me the friction for your for your customers and so they can service how they want to be serviced provide that 360 view of the customer you know who's the customer what are they own where they add in there there you know banking life cycle what what do you want to offer what do you want to buy so really leverage that and leverage that intelligence to to to innovate you know start with get started and see that ROI and then start getting the head you're the policy there's obviously a lot of opportunity there so with that guitar is call to action if you like to schedule a one-on-one and and learn more about you know some more personalized products and demos we can come in I can show you the framework as far as you set that that we go through provide findings and recommendations you'll face approach with ry numbers and costs and you know help you along the road to a modern experience and to innovate so with that opened up for from any questions mr. we have any on there with in chatham you don't have any in the chat column yet but what I'm going to do is open up the phone line so that you'll be unmuted so if you have any background noise or anything like that just be aware that you will be unmuted here shortly if there aren't any questions be sure to follow up with us with any of these channels on the screen right now we'll be happy to answer questions one-on-one if you prefer to do that I'm going to ahead and unmute it and we'll go from there ok is that a cry out for typing clock very vigorous ice so if I have a question if you don't mind sure it can't help me understand it worth it and it's uh I could help us push back what are some of the key steps that you go through with your clients to help determine what works best for policy automation and then what what steps the the financial invitation needs to take in order to ensure they're prepared to make that change great Jason lets you take this one as the poll sure I think there's a couple of key elements the first thing is understanding you know what policies you're actually executing right what I try to do is identify a pain point within your policy structure and then we work with your subject matter experts and your management team to actually do a pilot I'm a big fan of pilots OPA lends itself very well to that agile you don't build something you know get it into you know pre-production phase so really do that we find a policy whether it be on Tino compliance or whether it be an onboarding or a risk scoring or even consistency with validating on people's addresses you know how does that work why we have to do things manual I try to work we know the team tries to works with your team and finds out kind of a pain point and then what we do is we'll model those policies execute those policies and actually start running through how they would benefit you I mean that way we kind of understand not only your internal processes but it also work with your team to find out you know what's going on wrote in your world where the troubles we also find that during that process also finds inconsistencies which will help is that you should understand that you know what I you know might need a better training component or we might want to rely little bit more you know rule bases and things like that because you know you know John's interpretation is not the same with Martha's interpretation and we're getting bad information up there so that's really my goal starting out a policy automation a the more documentation you have around these policies some of them come from state or federal mandates those are very we borrow those very very quickly and remember we would do is that apply them to your organization based upon how you execute execute those policies and then that's really you know kind of where the work begins of finding out you know where the gaps are how we can assist you I'm things of that nature um does that answer your question yeah thank you when I'm I don't know if anyone elses questions so I would say go ahead okay what are some of the biggest challenges you find that companies run into when they're when they're looking to automate a policy or automate on like contact center resolution yeah usually think consistency of that one determination that I mentioned it's usually either not with or documented or not well understood and consistent across so you take of your total customer service center and they have you know notes your information sets one the first thing that we see sometimes they have outdated policies for whatever reason it didn't get consistently to all the people that are applying and then I said interpretation like that interpretation because you might have new trainees you might have something that's been with the company for 20 years you might have a large Delta in your channels to your clients about how they're providing this information so we see and i'll pick on my friends at the IRS just for a minute because everybody knows the IRS so sometimes what people would do is say you know call in to the call center in florida well they didn't like that answer so they called in to you know the the michigan call center and we'd find different information sets and then they would use those information sets against you know that institution to prove a case or channel make their argument it's really about that consistency across the enterprise but it's also consistency about how you know those two individuals really interpreted the pulse or compulsion omission can help do that and I think that really gets extracted too we work with those people so they kind of owners boss you should you know a good example would be again the IRS where they have an office called the rule based program office that runs about a hundred and fifty applications of the IRS if anybody calls in or walks into an IRS location and ask about an IRA or you know you know the dental supplement or you know the lab the file you're running an OPA rule base and that understanding really gives a lot of power to the people that are in charges of compliance and regulation within the institution because you start to understand that these are the changes of these are the deltas because it's very hard a lot of times what we see there's like 125 page manual or policy or no tax law or regulatory document or what we can do is we can extract the logic out of those documents and make it much more maintainable and easier to digest about the people that within your situation are going to deliver those policies because in 129 pages I can guarantee you there's only about three to four pages of rules and if you model those correctly and consistently you're going to be a much better position to not only defend your decisions and not only be able to trace those decisions but you're going to empower your team to better understand why you're making the decisions that you make and congratulation and into this Travis my comment i mean this also goes for you know for for any process really i mean it's a matter of getting in there and and defying the as is and the to be really using that as an opportunity to drive a lot of optimization to standardize a nice consistency you know and therefore of course a lot of a lot of efficiency so we go through those mind mapping and design phase is to provide that no that's that end result and we are then going to go and build sure thanks for the questions anybody else have any questions all right there are there not any questions I appreciate everybody join you today I'm again I feel free to shoot us an email I shoot us a text to recall of course we will eat our own dog dog food so to speak we use Service Cloud Azhar as our platforms to engage in front of customers and we'll track all here your interactions and then respond back to you through doing the channel provide a good experience so I thanks again for your time today and we'll see you next time great thank you thanks guys thank you everybody you