140627 presention juntos@wsbi - 140701... · - behavioral science, ! - user centric design, ! -...
TRANSCRIPT
but, what does a BEHAVIOR GENERATION COMPANY
like Juntos look like
+- Behavioral science, !- User centric design, !- Custom technology
Inclusive communication channel like SMSJUNTOS
We have also been driving
USAGE OF MOBILE BANKING accounts
A B
El Banco :·:
Sucursal
!!El banco !Banca Móvil
How are we ACTING ON DATA
to find the answers?
O
I
D
Observation
Iteration
Deployment
O One more time
JUNTOS custom
technology+
In our research
WE OBSERVE THE RELATIONSHIP Between you and your clients
O Observation
!!El banco !Banca Móvil
El Banco :·:
Sucursal
Bank StaffClient
1
At Juntos we
ITERATE MULTIPLE HYPOTHESES and analyze the results
I Iteration
Strategy 1
Strategy 2
Group 1
Group 2
+
+
=
=
RESULTS: - per user - overall
2
Sales people analogy
Most successful strategies are
DEPLOYED AT SCALE and results are analyzed
D Deployment
Strongest strategy
No strategy
Treatment group
Control group
+
+
=
=
RESULTS 1
RESULTS 2
3
4
New information plus
RE - ITERATION equals fast and sustainable learning
One more timeO
1
2
3
4
O
I
D
O
+ =
Learning curve
Today Tomorrow
Data
The design challenge of boosting
USAGE OF MOBILE BANKING accounts in Colombia
A B
El Banco :·:
Sucursal
!!El banco !Banca Móvil
El Banco :·:Sucursal
Thanks to data analysis we develop
PERSONALIZED CONVERSATIONS for each user rather than fixed scripts
JUNTOSOmar
Mónica
Doris
!!El banco !Banca Móvil
JUNTOS Experience in Colombia
• Response rates to Juntos program • Inactivity levels of accounts • Average balances in accounts
KPI’s
• Increase the response rates to the program • Decrease inactivity in usage of mobile banking accounts • Increase average balance
Goals
Timing 6 month pilot and the bank decided to continue working with Juntos after the pilot
+ 80,000 from financial inclusion segmentUsers
Users that receive at least one message from JUNTOS
JUNTOS
Iteración 2
Clients with JUNTOS Treatment group
The Control and the Treatment Groups The control group allows us to measure the impact of the Juntos Intervention
Users that never receive a message from JUNTOS
Clients without JUNTOS Control group
JUNTOS
Iteración 2
Clients with JUNTOS Treatment group
GROUP 2. Clientes who replied to
Juntos messages
We observed a decrease in inactivity levels in both groups compared to the inactivity levels in the control group
GROUP 1. Clients who never replied to Juntos
messages
Behavior Change in Responsive & Non Responsive Users Even the group of users that received Juntos messages but never texted back to us had more active usage of their accounts than the control group.
Users that never received a message from JUNTOS
Clients without JUNTOS Control group
JUNTOS
Iteración 2
Month 0 Month 1 Month 2 Month 3 Month 4 Month 5
%
X - 19%
X - 4%
X - 9%
X - 22%
Month 6
13% less inactivity in accounts with JUNTOS
% Inactivity in accounts with JUNTOS
% Inactivity in accounts without JUNTOS
Decreasing Inactivity of the Product The amount of inactive accounts in the treatment group was 13% lower than the amount of inactive accounts in the Control group.
X %
14% less inactivity in accounts with JUNTOS
X is the inactivity level at the beginning of the pilot. The specific figure is not presented as requested by our client in Colombia.
JUNTOS
Iteración 2
Col
ombi
an P
esos
Y + 24% Y
Increase in Average Balance Accounts with JUNTOS had an increase in balances 97% higher than the accounts without JUNTOS.
Y + 85% YY + 74% Y
Y + 37% Y
Y
Average monthly balance of accounts with JUNTOS
Average monthly balance of accounts without JUNTOS
74% Y
37% Y
Month 0 Month 1 Month 2 Month 3 Month 4 Month 5 Month 6Y is the the average of monthly balances at the beginning of the group. The specific figure is not presented as requested by our client in Colombia.
JUNTOS Higher Impact in Responsive Users By maximizing user response rates, Juntos has been able to influence additional behaviors
The impact in accounts of responsive users (GROUP 2) was higher, which guided us to to increase overall response rates. !For standard SMS campaigns, an acceptable response rate is 10%*. In Colombia, Juntos achieved response rates close to 30%.
Clients with JUNTOS Treatment group
!GROUP 2.
Clients who replied to Juntos messages
GROUP 1. Clients who never replied to Juntos
messages
* source: http://textassure.com/mobile-sms-ad-response-rates/
JUNTOS
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6
Resp
onse
rat
e %
Increase in Overall Response Rates Thanks to our OIDO approach, JUNTOS went from 4% response rates to 30% response rates in less than three months.
22
30%
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32% 32%
19%
12%
4%
10% is a typical response rate in SMS campaigns.
* Fuente: http://textassure.com/mobile-sms-ad-response-rates/
What behavior journeys
CAN WE CREATE ?
A B
- increase activity and balances - use of specific transactional channels - strengthen relationship client-bank - create healthy financial behaviors (savings) - ………….
1st place: Stanford Social Entrepreneurship Challenge
“The financial service industry’s best new product for the underserved” As voted by hundreds of senior executives at the U.S. industry’s annual CFSI conference
G20 innovation award for financial inclusion Global winner at the G20 Summit in Mexico City
AWARDS & PRESS