home hunter
DESCRIPTION
Home Hunter by Paul Littlefair, GM IT, Kiwibank at the Australian CIO Summit 2014TRANSCRIPT
Home Hunter
Paul Littlefair, GM IT, Kiwibank
Online Strategy
GOALS: • Transforming online from transactional to a full sales & service channel • Rich, immersive digitised experiences for joining and adding products • Better servicing delegators through ORM
Transactional –
Sales & Service GOALS: • Migrate customers to self-service channels •Automate high cost/high volume processes e.g. Credit risk assessment • Migrate postal communications to digital
Process
Simplification
STRATEGIC MEASURES
• 10% join interactions Retail to Online • 90% acquire interactions Retail to Online • 90% use interactions from CC to Online • 90% inform interactions CC to Online • 90% postal comms to digital
GOALS: • Be digitally relevant and where our customers are – e.g. device agnostic; personalisation; data sharing; data integration • Reduce cost to service customers • Deliver digital as part of omni-channel experience • Regain innovation leadership
Be where our
customers are
STRATEGIC MEASURES
• Digital first design • Integration with third party data (APIs) • Supports relationship depth • Online channels of choice for customers
STRATEGIC MEASURES
• 1% annual increase of customers that are main bank •Relationship depth (products held) improved from • Grow market share by 1% p.a. • Online sales conversions
Reinventing banking through digital
1 - ORM
Reinventing home-buying - vision
2011
Scenario 4: Dan & Emma find a
house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
Scenario 4: Dan & Emma find a
house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
Scenario 4: Dan & Emma find a
house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
Scenario 4: Dan & Emma find a
house Sketch 1 - A couple are looking at a house, and are holding an iPad up to it and take a photo of the house. When they're holding the iPad over the house it says 'Current GV $380,000' on the screen also. Sketch 2 - A close up of the iPad, and you can see the photo they took of the house. You can also see: Current GV is $380,000, View house plans, Info: Council approval for 3rd bedroom extension, A graph showing their joint financial position and a big Kiwibank looking button saying: ‘Dan and Emma, well done on achieving your $15K saving target. Do you want to use your pre-approved Kiwibank homeloan? Contact Brendan now. ’ Sketch 3. - ... Meanwhile at the Kiwibank ORM centre ... Sketch 4. - It looks like 'the war room'. Home loan specialists are sitting around desks. You can see screens in front of them, and you can see one screen in particular – that of Brendan, the couple’s ORM, with a picture of the couple on it. An alarm, and flashing light, is going next to Brendan, and he is on the phone looking excited. Sketch 5. - Close up of the iPad, and over the top of the last screen they were looking at is a video call with the home loan specialist... There are some speech bubbles coming out of the video: 'Hi there, that's a great looking house...it’s just outside the pre-approved limit but Dan that raise you got last month means we can loan you the full amount. Make the offer!” Sketch 6: Dan and Emma lovingly gaze at their soon-to-be new home....
The Brief
1. Fundamentally reinvent home lending
2. Create a proposition and positioning that
allows Kiwibank to own the territory for
the ‘new way’ of obtaining home financing
3. Deliver a brand proof point that clearly
demonstrates Kiwibank’s innovation
leadership and challenger status
A customer’s perspective
1. Daunting
A customer’s perspective
1. Daunting
83% of Home Loans researched Online...yet only ~20% complete online application & ~3% get approved
Home buying journey
Save Deposit Research Financing
Browse Houses Got Deposit
Research Process Get Pre-Approved
Go Open Home Get Advice
Get Approved Shortlist Houses
Research House Make an Offer
Settle Draw Down
Move In
Shop Rate Select Bank
Where to start?
Storm clouds ahead…
DAUNTING WHERE TO START?
INCOMPLETE INFORMATION
NO TOTAL PICTURE OF COST
WHO TO TURN TO FOR ADVICE?
HOW MUCH TO OFFER?
UNCOMFORTABLE FINANCE DISCUSSION
Home Hunter
1. Answering the financing question
upfront by Pre-approving NZ (for ALL New Zealanders)
2. Comprehensive property search
3. Rich property data for an informed
choice
4. See what you can really afford
5. An expert on hand to guide you at
every step
6. Empowered to make your best offer
Approach & Deliverables
Mon Tue Wed Thu Fri
Outputs
User Story
UI
Framework
Back-end
database
Credit
Model for
Pre-
Approval
Sign-up &
Pre-
approval
(Working)
Open Home
Planner
(Working)
Property
Search
(Working)
Talk to an
Expert -
ORM & MMM
(Working)
Home
Inspection
(Working)
Buyers
Report
(Working)
Go To
Market
Strategy
Marketing
Plan
Prototype
A Business Perspective
1. Increased Lead Generation
Increased Lead Generation
Save Deposit Research Financing
Browse Houses Got Deposit
Research Process Get Pre-Approved
Go Open Home Get Advice
Get Approved Shortlist Houses
Research House Make an Offer
Settle Draw Down
Move In
Shop Rate Select Bank
A Business Perspective
1. Increased Lead Generation
2. Pipeline Visibility
Pipeline Visibility
Save Deposit Research Financing
Browse Houses Got Deposit
Research Process Get Pre-Approved
Go Open Home Get Advice
Get Approved Shortlist Houses
Research House Make an Offer
Settle Draw Down
Move In
Shop Rate Select Bank
A Business Perspective
1. Increased Lead Generation
2. Pipeline Visibility
3. Engaged through out the customer journey
A Business Perspective
1. Increased Lead Generation
2. Pipeline Visibility
3. Engaged through out the customer journey
4. Deeper Relationships
Architecture (roughly…)
Amazon
KB Middleware
Loan applications Activate SDT Core B2K
Data Insight RealEstate.co.nz
Listings
Data used for HH applications
Pro
per
ty f
ile
Property
Enhanced property listings
Kiwibank HH API
User
Councils, LINZ etc
AVM
Enhanced Listings
Home Hunter demo
Results
Home Hunter
Web: 35K
App: 15K
50,335
sessions
Home Hunter
Avg session
time
Web: 1:58 min
App: 6:23 min
50,335 sessions
Home Hunter
App type
Android: 45%
IOS: 55%
App
average
session
time 6:23
min
Web
average
session
time 1:58
min
50,335 sessions
Home Hunter – NZ’s top property
app
Home Hunter
likes
583 Android: 45%
IOS: 55%
App
average
session
time 6:23
min
Web
average
session
time 1:58
min
50,335 sessions
Home Hunter
Pre-approvals
Web: 121
App: 267
388
Android: 45%
IOS: 55%
App
average
session
time 6:23
min
Web
average
session
time 1:58
min
FB likes 583
50,335 sessions
Home Hunter
Dollars in
pipe
Android: 45%
IOS: 55%
$156m App
average
session
time 6:23
min
Web
average
session
time 1:58
min
388 pre-
approvals
FB likes 583
50,335 sessions
Home Hunter - pipeline
$16.5m
settled!!!
Home Hunter
Awards
Android: 45%
IOS: 55%
Canstar
Innovation
Winner App
average
session
time 6:23
min
Web
average
session
time 1:58
min
388 pre-
approvals
FB likes 583
Wgtn Gold
Finalist
GSM Finalist
$156m in pipeline
50,335 sessions 5 to
drawdown
Home Hunter
Android: 45%
IOS: 55%
App
average
session
time 6:23
min
Web
average
session
time 1:58
min
388 pre-
approvals
FB likes 583
$156m in pipeline
50,335 sessions
Canstar Innovation
Winner
Awesome!
5 to drawdown