Group 2_Breakout Day 2 by https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc 2020 Regional Digital offsite en-us 2020-09-11 00:34:16 UTC 2026-01-22 16:07:15 UTC hello@padlet.com WELCOME! yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331647 I'm YAN LING), your facilitator for today's breakout session :)

What we'll be covering:

1. Orientation to PADLET web tool — 5 mins

2. Recap on the challenges; share & discuss — 5 mins

3. TRANSPARENCY  — 15 mins
  • Define  
  • Brainstorm  
  • Share / discuss / vote along the way

4. PEOPLE, PLANET, PROFITS — 15 mins
  • Define  
  • Brainstorm  
  • Share / discuss / vote along the way

5. THANK YOU! 
]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331647 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331649 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331649 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331650 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331650 TRANSPARENCY yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331651 For whom?
Define the target user group for whom you want to make a difference

Define the issue:
What about transparency does the group want to address?

Define the context:
product / channel / interaction
]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331651 TRANSPARENCY yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331653 How might we…
serve the needs of the young affluent/sandwiched class and still be transparent with the products that we want to push?



… while being reliable, & understanding of our customers]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331653 Amos yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331679 Assuming wealth accumulation is priority for this segment, focusing on:

1) expanding suitable suite of products to grow wealth (e.g. equity focus investments) 
2) Solve for pain points unique to this segment (e.g. fractional shares because they don't have enough money to buy full lots)

]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331679 Zongqi yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331680 Base on individual profile and transaction behaviour, give recommendation on investment products, at the right time



]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331680 Anne yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331681 Investment webinars on how to get started and how to put a small amount aside regularly. Some same aged people to share their stories.



]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331681 Karen yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331682 - Educational video on what the investment products are
- Easily accessible view on transaction cost / fee
- Conversational interaction by bot / live chat
- Lower entry criteria



]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331682 Doreen yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331683 -  advisory service like a call centre concept. just a hotline and anyone will be equipped to help with no pressure on sales. 



]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331683 Shikha yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331685 Regional:
- Phydigital channel - with RM training. Minimum 3 investment option across product lines like Insurance, Mutual Funds, Gold Bonds etc
- Online tutorials on low risk, medium risk investment opportunities, along with clear Fees definition]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331685 Investment education materials to build trust and help them understand what they are buying into (be transparent) yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331686 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331686 Lend a helping hand with offline presence (to build trust). Be helpful, not pushy yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331687 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331687 Amos yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331688 3) focus on digital interface (usability) keeping in mind non-bank competitors (ie TD Ameritrade)



]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331688 Improve our trading platforms so we don't lose them once they are interested to invest. yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331690 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331690 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331722 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331722 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331724 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331724 Alvin yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331725
Quick guides on investment 101s and a comparison of what products are available along with the return and risk profiles of these products

Links to other credible investment guides or resources for people to get interested and to learn more

]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331725 Shikha yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331729 Regional:
- investment suggestions for smaller investment bases to come in Investment tab]]> 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331729 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331730 2020-09-11 00:34:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737331730 Amos yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737371273
For whom?
From a fiduciary standpoint - all DBS customers but with special focus on vunerable groups (e.g. elderly, less digital savvy)
Issue?
Mainly centered around ease of getting relevant information, clear and upfront T&Cs. For vunerable groups to close the digital divide   
Context
digital channels

]]> 2020-09-11 00:51:46 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737371273 Doreen yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737373349
Working class (30s-40s) 
Sandwich class

How to manage finances and where is their money going; what to invest in.

Channel - iB/mB
Product - wealth


]]> 2020-09-11 00:52:31 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737373349 Anne yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737374421
For whom?
Any CBG customer trying to understand the interest rates of different products.

Issue?
We don't always share what is the interest rate for example for FD products. Sometimes customers need to go through an RM or CCTR to find out. Internally we have a perception that showing interest rates might lead to heavy competition.
Context
Public websites

]]> 2020-09-11 00:53:00 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737374421 Shikha yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737374989
For whom?
-Emerging affluent looking for better investment and transperancy around the hidden charges/profitability/returns
Issue?
- Other banks RMs are able to provide better investment opportunities for emerging affluent segment, we lack here. Trust is broken when RM pushes insurance product which does not have good returns. This insurance product has very high commission for RM - and this hidden agenda will raise hackles for the customer
Context


]]> 2020-09-11 00:53:16 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737374989 Karen yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737375902
For whom? Young affluent

Issue? They may perceive a bank is slow, inflexible  products in a bank, and with higher fees.

Context  
investment products without minimal requirements, conversational interaction on digital channels

]]> 2020-09-11 00:53:42 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737375902 Shikha yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737376791
For whom?
-Digibank customer - trying to understand fees

Issue?
- Fees in our various platforms are not upfront and clearly told. There should be a tab in app, or with every product section, fees should be told upfront.]]> 2020-09-11 00:54:09 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737376791 Alvin yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737377263
For whom?
Potential customers looking to make a decision whether to use our product/service, as well as existing customers who are already using us.

Issue?
Allow the customer to make an informed buying decision, as well as to be upfront and completely truthful about the costs and benefits that the customer can expect to enjoy by using our product/service.

Context
Remittance online (via IB/MB/IW). Customers might also come across us on Pweb in the decision making process.

]]> 2020-09-11 00:54:22 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737377263 Zongqi yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737378359
Elderly

They have limited needs on banking, but out app has too much info and features which may confuse them along the way. 

Have customized simple mode of banking for them.


]]> 2020-09-11 00:54:55 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737378359 DOREEN NG yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384213
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • Losing money when market is going up - wealth products
  • Long waiting time to apply for credit card
  • No dividend info in P&L - digibank

How do you know this? Can it be measured? Please describe:
  • Customer complaint
  • Customer CSS, Ops TAT tracking
  • Customer CSS, 5-star data, Google Play/App Store comments

What might you propose to address this?
  • All investment has risks; most important is communication and common understanding
  • STP for credit card application, reduce need for re-submission of document proof
  • System upgrade to include dividend earning; show P&L with and without dividend

]]> 2020-09-11 00:57:29 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384213 SHIKHA GUPTA yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384542
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • Is our fees transparent? When we make Paylah transactions, does user know what are the fees applied? Same for ATM withdrawals.
  • Singapore RMs push only for Insurance schemes for investment options to a Wealth client. This breaks trust in honesty or customer best interest at heart


How do you know this? Can it be measured? Please describe:
  • As aDigibank app user, many fees are not apparent and transparent
  • Heard the feedback from many iWealth users in Singapore


What might you propose to address this?
  • Have a tab in App, that contains consolidated Fees information written in simple English
  • Have a range of investment products which RMs can offer - we have digiportfolio now, RMs should be able to propose funds and not just insurance propositions.


]]> 2020-09-11 00:57:39 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384542 KAREN LEE yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384714
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  •  Are you reliable - biometrics login is failed; digital token doesn't work to authenticate transactions
  •  Do you understand me - CJ / UX for eStatement may not be user friendly


How do you know this? Can it be measured? Please describe:
  •  Know from production incident, customer verbatim, my own experience as a customer
  •  Measure by 5 star rating


What might you propose to address this?
  •  Technology team to tighten issue resolution turnaround time
  •  Modernize our technology stack
  •  Continuous uplifting of our CJ / UX

]]> 2020-09-11 00:57:43 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384714 LILY ZHAO yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384896
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • Only 5*8hours support for fund transfer
  • If UT redemption trxn is not completed at UT company, the redeem amt will not be reflected in customer's total balance


How do you know this? Can it be measured? Please describe:
  • Customer feel the money is lost



What might you propose to address this?
  • Enhance system to provide the service in MB Next Gen



]]> 2020-09-11 00:57:49 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737384896 ADAM GRABARCZYK yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385242
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • not clear and complicated T&C
  • technical problems affecting access to my accounts/money
  • lack of timely responses on reported complaints

How do you know this? Can it be measured? Please describe:
  • customer satisfaction surveys
  • digital channels 5-star verbatims
  • complaints

What might you propose to address this?
  • review and simplification of T&C
  • Improvement of digital tech platforms resilience 
  • review and improvement of internal processes

]]> 2020-09-11 00:57:58 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385242 ANNE SALOMAA yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385408
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • Customers don't separate their experience based on the channel e.g. Pweb one, iB one etc. It's web for them. There is sometimes disconnect in the journey as they move from channel to another. - empathy / do you understand me?
  • We don't always provide the information customer needs or even asks (FD rate, interest rates) - empathy/do you understand me?
  • The language we use doesn't always make sense to customers. Some things are easier to explain through videos or pictures. empathy / do you understand me?

How do you know this? Can it be measured? Please describe:
  • Based on our binary rating results
  • Based on the Overall 5-star surveys
  • Based on the Overall 5-star surveys

What might you propose to address this?
  • We are very functionally organised and would need to have more connection points and engagement between different teams.
  • Disciplined ongoing reviews of customer comments and immediate action
  • Ongoing reviews of how we communicate plus external reviews as we sometimes get so used to our own jargon.

]]> 2020-09-11 00:58:04 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385408 CHRISTINE GOH yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385610
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  •  FX Service unavailable / Payments Delayed on digital channels for customers to send money to overseas loved ones (Top reason for using DBS Remit is for Family Support/ Allowances) 
  •  Encountering ill-informed CCTR Agents when they call DBS Hotline for status of payments or "Where is their money" (Once $ leaves DBS, we rely on 3rd party banks to provide status of payments)  
  •  Inability for customers to know if their money has reached their overseas recipient 

How do you know this? Can it be measured? Please describe:
  •  Rising inbound calls to CCTR on Status Queries or Fund Tracing service requests 
  •  Downtime of Remit service for key corridors on channels or 5 star feedback
  •  

What might you propose to address this?
  •  Continuous monitoring of FX rates or service availability on channels, ensure Tech reliability of 99% uptime. Alert thresholds are also set up in Payments Control Towner to monitor service.
  •  Remit Tracker service feature (similar to DHL Logistics  - Track your Parcel) 
  •  Giving CCTR agents access to Payments Control Tower data to know where is the state of customer payments in the network 

]]> 2020-09-11 00:58:09 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385610 ALVIN ANG yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385999
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • When transactions are delayed or fail due to technical issues or screening purposes, we lose credibility in the eyes of our customers and we become unable to live up to our promises to these customers. (not reliable)
  • Potentially introducing a fee after previously highlighting our no fee value proposition risks eroding our customers' trust in our services. (not fair)


How do you know this? Can it be measured? Please describe:
  • We can measure drop offs by customers who formerly use to transact regularly with us but stop doing so after being impacted by such incidents
  • Monitor complaints that are logged in surveys as well as via feedback received by the customer centre


What might you propose to address this?
  • Improve the reliability of our service such that the frequency of technical incidents are reduced
  • Streamline the screening process such that less customers experience delays due to screening
  • Progressively introduce a fee, maybe to a subset of customers first to gauge their receptiveness to it and then expand it to the broader group and/or increase the size of the fee.

]]> 2020-09-11 00:58:21 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737385999 ZONGQI JIANG yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737387774
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • Digital token reliability - it doesn't work when customer wants to perform transactions
  • Balance and transaction history is not updated during system 'offline' e.g. batch run
  • Generic SNA messages

How do you know this? Can it be measured? Please describe:
  • we can capture some error codes to certain extend only
  • there is a lag sometimes
  • we should have report to count the occurance and find out why

What might you propose to address this?
  • map all the errors into journeys, be very specific and real-time dashboard
  • not sure..
  • base on counts to address the issue, and make error msg more specific

]]> 2020-09-11 00:59:12 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737387774 SURJYASNATA SAHOO yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737388017
In what ways are your products / channels / interactions (digital or physical) eroding trust from the customer?
(Be specific! Give examples with context, and relate to at least one element of trust from the triangle)
  • Transaction failures
  • Login failures and app crashes
  • Customer authentication process incase of callbacks

How do you know this? Can it be measured? Please describe:
  • Playstore and appstore comments with ratings
  • social media comments and top 5 client complaint ranking from contact center
  • Feedback to RMs

What might you propose to address this?
  • Control tower to monitor login and transaction failures
  • Quality check on outgoing calls

]]> 2020-09-11 00:59:18 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737388017 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737400117





























































































































]]> 2020-09-11 01:05:21 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737400117 yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737793355 Concern that cost of transaction is very high if we have to do all this financial education. We shd be cautious of doing all the hard work of acquiring, and they leave for somewhere else.  (Doreen)

--> Fix our trading apps to capture the end of the funnel  (Amos)]]> 2020-09-11 04:53:14 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737793355 Have products that make it easier for them to get started investing yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737826733 2020-09-11 05:18:05 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737826733 YOUNG AFFLUENT, SANDWICHED CLASS yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737833717

]]> 2020-09-11 05:23:56 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737833717 CUSTOMERS TRYING TO BUY OUR PRODUCTS yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737834480

]]> 2020-09-11 05:24:37 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737834480 ELDERLY, DIGITALLY VULNERABLE yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737835028

]]> 2020-09-11 05:25:03 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737835028 Give the right recommendations at the right time yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737862815 2020-09-11 05:48:05 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/737862815 Hello yanlingtan https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/3013016608 2024-05-30 10:09:34 UTC https://padlet.com/yanlingtan/vpg7k9hiqgsme8pc/wish/3013016608