Presentation given at the "2nd Retail Banking Conference" in Nicosia, Cyprus on 7 October 2011. Organized by IMH Consulting Ltd.

1. SMARTPHONE BANKING LAUNCH
BY A LEADING BANK IN GREECE
• How we started, where we are now, how we stand
against our competition
• Dilemmas, trials-and-errors, mistakes and successes
• The results so far and the lessons learned
• Going ahead: next steps
• Questions & Answers
SOTIRIS SIRMAKEZIS | DEPUTY GENERAL MANAGER | eBUSINESS SECTOR | PIRAEUS BANK

3. Sotiris Sirmakezis
Deputy General Manager
87, Sygrou Ave., 117 45 Athens, Hellas, Tel.: +30 210 9294065
Fax: +30 210 9294020, e-mail: sirmakezis@winbank.gr
DIRECT SERVICES
Sotiris Sirmakezis
Managing Director
8, Gamveta St., 114 50 Athens, Hellas. Tel.: +30 210 9294065
Fax: +30 210 9294020, e-mail: sirmakezis@winbank.gr

4. 1
OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD O
R AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR
PONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPO
2
WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED W
ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT A
E IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE I
3
LDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTUR
CHANNELS BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE IN
BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUC
4
CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CH
CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SERVICES
VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING M
5
MEASURING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: Q
UANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND QUALITY
UCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND Q
ER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTH

5. OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD O
R AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR
PONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPO
OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD O
NSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPON
PONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPO
NSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPON
R AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR
OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD O
R AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR
NSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPON
PONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPO
R AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR
OUR SPONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD O
NSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPONS
PONSOR AND THE PLAYFIELD OUR SPONSOR AND THE PLAYFIELD OUR SPO

6. Piraeus Group timeline
International
Piraeus Tirana Marathon Piraeus Piraeus Piraeus Piraeus Piraeus
London
Bank Bank, Bank, Bank Bank Bank Bank ICB Bank
branch
Bulgaria Albania USA Romania Egypt Beograd Ukraine Cyprus
1996 - 1999 2000 - 2003 2004 - 2008 2009 - 2011
Establishment Processes and IT Strong Domestic Franchise Weathering the
of ‘critical mass’ Harmonization International Expansion Economic Crisis
1916 1918 1991 1993 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Macedonia Merger of
Foundation Piraeus Credit Agreement Agreement
Listing Chase - National Piraeus,
of Piraeus Bank Lyonnais Xiosbank ETBAbank with BNP with Victoria
on ATHEX Manhattan Thrace Westminster Macedonia
Bank Privatisation Hellas Wealth Mngt Ins. (Ergo)
Bank Thrace, Xios
Domestic
6

7. Penetration in Greece
Mobile phone Personal Computer Internet usage
Online shopping Double/Triple Play
Source:

8. WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED W
STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL S
E IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE I
WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED W
ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT A
E IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE I
ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT A
STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL S
WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED W
STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL S
ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT A
E IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE I
STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL S
WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED W
ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT A
IT ALL STARTED WHERE IT ALL STARTED WHERE IT ALL STARTED WHERE IT

9. Building the Electronic “Bank”
Mutual Consumer Credit
Funds Loans
Cards
Investments Mortgage
Loans
Stocks Every new device & channel, Bill
Deposits every new product & service Payments
adds VALUE to our RELATIONSHIP Remittances
Mass
with our CUSTOMER Large
Retail
Corporate
Affluent
Private Small SME
Banking Gen-Y Business

10. Coaching
Customer
Operations New Experience
service
design
Reliability
Security Strategy Sales
Availability
New service
Customer development
Marketing
Service

11. Web Banking Cards Online Mobile Banking
CHANNELS
PERSONAL BUSINESS INTERNET SMARTPHONE
ONLINE STOCK BROKERAGE MOBILE BROWSER
IVR
MULTI-COUNTRY TEXT / SMS
ATM Network Phone Banking easypay kiosks
BRANCH AGENT CASH PAYMENTS
OFF-SITE IVR TICKETS, PASSBOOKS
Debit Card paycenter easypay web
ATM PHONE ONLINE SHOPS www.easypay.gr
EFT/POS TELLER CALL CENTERS 18-28-38
SERVICES
weBuy Prepaid SEPA Direct Debits easypay mobile
Alerts Air-time Top-Up Instant Cash
TEXT / SMS ALL OPERATORS ATM
E-MAIL ALL VALUES PHONE
PHONE CALL ALL CHANNELS WEB
NOTIFICATION SMARTPHONE

12. Public Web Sites
ONLINE
SALES
www.winbankdirect.gr www.piraeusbank.xx
 18-200 DESIGN – SEO - WCMS
Public Web Sites Social Media Banner Campaign
INFORMATION ARCHITECTURE FACEBOOK
Optimization
INTERACTIVE
MARKETING
winbank page
CONTENT MANAGEMENT
Think Green page
PAGE DESIGN
TWITTER Online Reputation
SEARCH ENGINE OPTIMIZATION
@winbank_tweets Management
YOUTUBE
Piraeus Bank Channel
GREECE & ABROAD
Think Green Channel Search Engine
BANK & AFFILIATES Marketing
FLICKR
Think Green Photos

13. BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUC
INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHANNE
ING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE:
BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUC
THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHA
FRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHANNELS
LDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTUR
CHANNELS BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE IN
BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUC
INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHANNE
RASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHANNELS B
ING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE:
BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUC
THE INFRASTRUCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHA
UCTURE: CHANNELS BUILDING THE INFRASTRUCTURE: CHANNELS BUILDIN
CHANNELS BUILDING THE INFRASTRUCTURE: CHANNELS BUILDING THE IN

14. Internet Banking Cards Online Mobile Banking
PERSONAL BUSINESS INTERNET SMARTPHONE
ONLINE STOCK BROKERAGE MOBILE BROWSER
IVR
MULTI-COUNTRY TEXT / SMS
ATM Network Phone Banking
BRANCH AGENT
OFF-SITE IVR
Debit Card paycenter
ATM PHONE ONLINE SHOPS
EFT/POS TELLER CALL CENTERS

15. Piraeus Bank Other Domestic Bank’s Foreign Bank’s
Customers: Customer Customer Customer
Locations: Market Bank Home Office Vacation Abroad
Payment
Cash Check Debit Card Credit Card Credentials
Instruments:
Devices: EFT/POS Teller ATM CPT Phone PC Smartphone Tablet
Networks &
Virtual Private Network PTT Network Internet GSM / GPRS / 3G
Protocols:
easypay
Internet Banking easypay.gr
Call
Enablers: Web Services paycenter
Virtual Acquiring Call Center Added Value
kiosk Center
Company Organization Deposit Loan Domestic Foreign
Beneficiaries:
Government Individual
Piraeus Bank Other Banks

16. ADDED VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CRE
CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CH
VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING M
ADDED VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CRE
ALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MU
MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SE
ED VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATIN
SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VA
CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SERVICES
CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CH
EATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CHAN
VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING M
SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SERVICES ADDED VA
MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SE
CREATING MULTI-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CH
I-CHANNEL SERVICES ADDED VALUE: CREATING MULTI-CHANNEL SERVICES

17. easypay kiosks
CASH PAYMENTS
TICKETS, PASSBOOKS
easypay web
www.easypay.gr
18-28-38
weBuy Prepaid easypay mobile
Alerts Air-time Top-Up Instant Cash
TEXT / SMS ALL OPERATORS ATM
E-MAIL ALL VALUES PHONE
PHONE CALL ALL CHANNELS WEB
NOTIFICATION SMARTPHONE

18. 1
Web Banking Mobile Banking
Phone Banking
2002
Alerts

19. Alerts are multi-channel
Notification Administration
• Text message • Branch
to mobile phone (sms)
0,12€ / message • Call Center
5 free per month
• Web Banking
• e-Mail
to 1 or 2 addresses
Free of charge
• Phone Call
to any number
0,40€ / call

20. Alerts: examples
WINBANK ALERT
EK - TAM
BILL PAYMENT
AMOUNT: 350,00€
LB: 4.220,34€
AB: 5.220,34€

21. Types of alerts
• Pre-emptive for Post-Dated Orders
• Before due date: Funds unavailable, order might not be executed
• After due date: Order was/was not executed
• Account Balance Change
• On every balance change
• Relative to values defined by customer
• Specific Account Transactions
• List of various Debit and Credit Transactions
• Credit Cards
• On every transaction
• Conditionally: Card-present? Amount? Domestic?
• When statement is issued
• Just before statement due date
• Stocks
• Daily value of stock portfolio
• Receipts of buy/sell transactions

23. 2
Web Banking
Phone Banking
2005
paycenter easypay web

24. easypay: Multiple Features
Multiple Business Partners
 Public Utilities (electricity, gas, water…)
 Standard Telephony (OTE, Tellas, Lannet, Forthnet, ...)
 Mobile Phone Operators (vodafone, Cosmote, TIM, Q)
 Internet Service Providers (Otenet, ACN, Forthnet, ...)
 Insurance Companies (Life, General)
 Banks & "Banks" (Consumer Loans, Car Loans…)
 Chambers, Organizations, Unions (Engineers, Doctors, Lawyers, ...)
 Non-Government Organizations (Unicef, Greenpeace...)
 Micro-businesses (e.g. advance payments for rooms/hotels)
 Publishers (newspapers & magazine subscription)
Multiple Channels Multiple Payment Instruments
 Internet  Credit Card (Visa, MC, Diners)
 Phone (Call Center)  Debit Card (Visa Electron,Maestro)
 E-Mail / SMS receipts  Piraeus Bank Deposit Account

25. Biller
categories
Registered
payers area

26. Select
“TELECOMS”
Select Biller:
VODAFONE

27. Card “e- POS”
(via paycenter)

29. 2
Web Banking
ATM Network easypay kiosks
2006
easypay web

30. easypay machine
• Cash payments only. Later: CAT functionality
(Cardholder-Activated Terminal)
• Touch-screen
• Banknote reader (fake notes detection)
• Coin acceptor, coin return (change)
• Barcode reader, Printer, On-line/Real-time
• Credit Card Payment, Loan Payment (3 types of
loans), Account Deposit
• Electricity Bill Payment, Standard & Cellular
Telephony Payment, Many Other Payments
• Air-time Top-up (all companies, all values)
• Promoters (3 months per new installation)

31. easypay machine: user interface

32. Ticketing & Passbook printing
Ticket sales
• Fun & entertainment transaction
• Increase footfall, x-sell, other banks’
customers
• Cross-selling opportunity
• Theaters: 75% of shows in Athens
• Games: Olympiacos BC, Panathinaikos
BC, AEK FC, PAOK FC
• Next: large cinemas chain, trains,
coastal transportation, Aegean Airlines
Passbook printing
• 2nd most frequent teller transaction
• Side effect: increase self-service
deposits

33. easypay machines: customer satisfaction
Very Satisfied (+2) 90
Satisfied (+1) 8
Dissatisfied (-1) 1
Very Dissatisfied (-2) 0,4
No answer 1
Survey by Opinion Research Oct-Dec 2010

34. easypay machines: share of transactions
Cash Deposits
8,4% 3,3%
5,2%
Teller
8,4%
onsite easypay
Online ATM
Envelope ATM
91,6% 83,0%
Teller onsite easypay
Credit Card Payments Loan Payments
38%
35,0%
62%
65,0%
Teller onsite easypay Teller onsite easypay

36. 2
Mobile Banking
2011
easypay web
easypay mobile

38. easypay mobile on iPhone & Android

39. easypay mobile on iPhone & Android

40. easypay mobile on iPhone & Android

41. 3
Web Banking Mobile Banking
ATM Network Phone Banking easypay kiosks
2006
easypay web
Air-time Top-Up

42. Air-time Top-up Architecture

43. Air-time Top-up Interfaces (web banking)

44. Air-time Top-up Interfaces (ATM & easypay)

45. Air-time Top-up Interfaces (sms banking)

46. 4
Web Banking
ATM Network Phone Banking
2007
Debit Card
weBuy Prepaid

47. weBuy Virtual Prepaid Card

48. weBuy Virtual Prepaid Card: why & what
• Fear to use credit cards on-line • MasterCard
• Many phishing attacks • Based on Debit Card
• Branch feedback • “Hidden” Deposit Account
• Customer satisfaction surveys • Card-Not-Present only
• Electronic shops request • No plastic
• Online usage of debit card • Acquired through web banking
• Fulfillment of our promise to • On-line, Real-time Load from /
constantly deliver new services Unload to bank account
• Re-issue / cancel anytime

49. 5
Web Banking
ATM Network Phone Banking
2007
Debit Card
Alerts Instant Cash

51. How INSTANT CASH works
Sender Recipient
(may be same as sender)
web
banking
7-digit
pin
ATM text cash
phone One-time PIN No card needed
banking Expires (<24 hours) Button-initiated
24 x 7

52. Bank
account
Amount
Recipient’s
INSTANT CASH mobile #
PIN on screen
and Message
send by SMS on SMS
Pin
Duration

53. Get Instant Cash: Idle Loop

54. Get Instant Cash: step 1/3

55. Get Instant Cash: step 2/3

56. Get Instant Cash: step 3/3

57. 5
Mobile Banking
2011
Instant Cash
ATM, WEB
PHONE
SMARTPHONES

58. Instant Cash on iPhone & Android

59. Instant Cash on iPhone & Android

60. Instant Cash on iPhone & Android

61. Instant Cash on iPhone & Android

62. MEASURING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: Q
SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AN
URING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTIT
MEASURING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: Q
RING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY
UANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND QUALITY M
ASURING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUAN
QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND QUALITY
MEASURING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: Q
SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND
ESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND QUA
RING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTIT
MEASURING SUCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: Q
UANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND QUALITY
UCCESS: QUANTITY AND QUALITY MEASURING SUCCESS: QUANTITY AND Q
AND QUALITY MEASURING SUCCESS: QUANTITY AND QUALITY MEASURI

63. The winbank timeline
alerts on accounts air-time top-up
2002
2006
winbank direct
2010
easypay machines easyPassbook
internet banking ATM personalization
2000
phone banking
mobile banking
extraPIN SMS
2004
ATM easyticketing
2008
Visa Direct
browser-based
mobile banking
winbank international
2000 2011
paycenter
2005
2001
winweb
www.easypay.gr
2009
internet banking v2 social media
winbank for cards Vodafone
www.winlife.gr
easypay
extraPIN Generator
2003
2011
2007
alerts πιςτωτικών καρτών
winlife Visa credit card weBuy Prepaid MasterCard smartphone
www.syndromes.gr Instant cash banking

64. Quality: 3rd-party evaluations
Greece Europe World
The Pan-european Microsoft Worldwide
Banking Technology Innovation Award
Awards
European Financial
Marketing Association
Innovation Award
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

65. Quality: Customers’ opinions
Customer satisfaction surveys
100%
94%
96%
95% 94% 94% 94% 97%
ATM 92% 93%
93% 91%
90%
89%
90% 90% 91% 91%
e-banking 90%
89% 89% 89%
88%
85%
Call center 83%
80%
2003 2004 2005 2006 2007 2008 2009 2010
75%
Source: Opinion Research
1 XPONIA

66. Quality: Customers’ testimonials
…@winbank_tweets called me on @winbank_tweets Yet another
my phone to answer a question @winbank_tweets Yet a month-end.
Thank you very much for your
downtime on
another
prompt reply :)
I asked them on twitter! downtime on a month-end.
winbank sucks!
Piraeus Bank
winbank sucks!
offers @winbank_tweets Thanks
electronic again! Keep up the good work! @winbank_tweets Thanks a lot for the tips!!
services better
than
any other [bank]…
@winbank_tweets Fast and ένα έσω να as always! Ever..
Απλά helpful πω!!!Πειπαιώρ For
It was και ηην λςζη electronic payment ζοςI κάθεέσειρ είναι ζηην
@winbank_tweets εςσαπιζηω για ηην
ενημεπωζη
my first πος δοθηκε όηι ππόβλημα
διάθεζη
& hadn’t noticed
μέπακάθε ώπα,
ζηο θεμα μοςyou mention. Thank you for yourβοηθήζοςν!
what , καλη ζςνεσεια ππόθςμοι να ζε help!
Although I disagree, I have to @winbank_tweets Γπήγοποι και εξςπηπεηικοί
congratulate you once more for being όπωρ πάνηα! Είναι οι ππώηερ ηλ. πληπωμέρ
honest and sincere. Efharisto! μος & δεν ηο είσα δει. Σαρ εςσαπιζηώ
για ηη βοήθεια!
@winbank_tweets Very good move! You Excellent!! Thank you very much, for
must be the only Greek bank doing the invitation as well as your superb
something like this. It shows your interest work for all of us, Piraeus Bank
about the customer! customers!

67. Distribution of transactions 2010: machines

68. Distribution of transactions 2010: web banking

69. FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER?
Y BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WH
LY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINAL
FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? F
WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY:
ER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHE
ALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINA
? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER
FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER?
BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY
HER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTH
Y: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY
FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER?
INALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER?
BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY B
HY BOTHER? FINALLY: WHY BOTHER? FINALLY: WHY BOTHER? FINALLY: WH

70. What we’ll talk about
a. Our sponsor. Piraeus Bank: history and data
b. Where it all started. winbank: the “electronic arm” of Piraeus Bank
c. Measuring success. Quality & quantity
d. The prerequisites. Building the infrastructure: channels
e. Added value. Creating multi-channel services
Finally: Why bother?

71. We our customers!
On average, web banking users (as compared to non-users)…
...own 187% more
products!
...execute84% more
monetary transactions
45%
...are ...increase product usage by
more loyal!
214% and new product
purchase by 143%

72. The importance of added-value services (1/3)
• Revenues
 Channels: Low cost sources for existing revenues
• Web Banking: Remittances, Stock brokerage transactions, ...
• Cards & ATM: Debit card fees, Interchange Reimbursement Fees (IRF), ATM
acquiring fees, Dynamic Currency Conversion, ...
• ...
 Added-Value Services: New revenue streams
• Alerts: fee per alert and/or subscription per package of alerts
• easypay channels: merchant commissions, payer commissions
• Air-time Top-up: commissions, % of value (large!)
• weBuy Prepaid Card: loading fees, IRF, float/liquidity
• Instant Cash: fee per transaction
• ...

73. The importance of added-value services (2/3)
• Positive customer experiences
• Increased satisfaction
• Stickiness
• Higher loyalty, lower attrition
 While 15% of all customers are also winbank subscribers...
 ...only 2.5% of customers that leave the bank are web banking subscribers
• Increased possibility for next product purchase
 (see: Forrester Research Surveys on CxPi)
• Larger number of products per customer
 Mass retail: 1,9 – 2,9 products
 Web banking users: 4,9 – 9,9 products

74. The importance of added-value services (3/3)
• Pace of buying new products gets
# of products
accelerated as usage increases After
• Increased usage of products Before
• More credit card transactions: 2x for web banking users time
• More overdraft usage
• Higher balances per product
• More deposits in savings/checking accounts: +50% for web bankers
• More revolving credit
• More revenues per customer
• The “web” segment is the most important for the bank
• Less operational cost to serve customer
• e-Banking, ATM/Debit Card, even Phone Banking: the cheapest channels
• Larger profitability for the bank

76. 1OYEARS
MISSION : :IMPOSSIBLE ?
MISSION e-POSSIBLE !