DATA DRIVEN CUSTOMER CENTRICITY
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ETHICALLY HARNESSING DATA TO RECONNECT WITH CUSTOMERS WRITTEN BY
MARCUS LAWRENCE PRODUCED BY
JAMES PEPPER
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DNB
Aidan Millar, Chief Data Officer at DNB, discusses the bank’s transition to digital services and the importance of leveraging data to reconnect with customers as a trusted data custodian 04
D
NB is Norway’s leading financial services provider – not just in regards to size, but also with its progressive
digital transformation program; with over 2.1mn retail customers and 221,000 corporate customers. DNB reduced the number of branch offices in Norway from 116 to 57 in 2017, driven by changes in customer preferences. The success of the channel shift is remarkable. In a Finalta benchmark analysis of the international banking sector, DNB was ranked number one in the world based on the efficiency of its branch network. Digitalisation has brought explosive growth in data, bringing new challenges and opportunities to the business. For DNB the imperative is, and will always be, to stay relevant to
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DNB
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“ Customers are talking to us every second on our digital channels – we just need to listen” — Aidan Millar, Chief Digital Officer, DNB
CLICK TO WATCH : ‘NORWAY’S FINEST RESIDENTIAL’ 07 customers in their daily digital lives.
nect and stay relevant to our custom-
“Our customers are talking to us every
ers on digital channels.”
second of the day on digital channels,
Millar is deeply passionate about
and we have to have the ability to
handling data in a legally compliant and
listen and respond effectively to their
ethical way. “We’ve got to be seen as
needs,” says Aidan Millar, Chief Data
the trusted data custodian that capital-
Officer at DNB. This is the challenge
ises on data driven insights to deliver
of digitalisation that he believes is too
value for our customers, and we’ve got
often overlooked. “Everyone talks
to do this in an ethical and compliant
about going digital, but if you’re not
way.” This commitment is a defining
capitalising on data streams that are
element in establishing the customer
generated through your digital
centricity that Millar aims to drive through
channels, then you’re going digital
data driven insights. “It starts with
without listening. My role is to lever-
people and organisational culture.
age digital interaction data to recon-
Culture eats strategy for breakfast, so w w w.dnb . n o/en
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“Our customers are talking to us every second of the day on digital channels…” – Aidan Millar, Chief Data Officer, DNB
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DNB
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you have to fuel your enterprise data strategy with a passion for data,” says Millar. The DNB transformation to a data driven organisation is underpinned by a focus on the ethical and compliant use of data. “Regulations are often seen as a burden and should be reframed as best practice, but why wouldn’t you want to be compliant with best practice?” says Millar. The General Data Protection
Regulation (GDPR) is about protecting customer data and data rights, who would disagree with that as a principle, he asks. The emerging Basel Committee regulations on data (BCBS239) are also important, he says, setting out where data comes from and its efficacy in risk reporting processes. “The ethical use of data will be a strategic differentiator for banks of the future. Companies
“ Building trusted partnerships with niche providers to co-create and build reciprocity” — Aidan Millar, Chief Digital Officer, DNB
that haven’t used their data in an ethical way will lose trust, and one bad custom-
as the bank migrates onto scalable
er experience can mean that trust is
and adaptable cloud platforms. “From
lost forever.”
a data perspective the cloud platforms
The data itself is managed within
provide highly secure, massively scalable
DNB’s multi cloud solution, whereby
and agile delivery solutions,” says Millar.
both Amazon Web Services (AWS) and
The cornerstone of DNB enterprise
Microsoft Azure have been leveraged
data and analytics platform, Millar says,
E XE CU T I VE PRO FI LE
Aidan Millar Aidan Millar is passionate about the positive disruption of technology and advanced data analytics on the financial services industry. He has over 25 years of professional experience partnering with senior executives to implement large-scale IT change and data related initiatives to drive competitive advantage; a Positive Disruptor͛with the courage to make things happen!
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“ We have to stay relevant and add value to customers in their daily digital lives” — Aidan Millar, Chief Digital Officer, DNB 13
has been the establishment of DNB’s
enable them to leverage the niche
advanced cloud based data science
capabilities of multiple partners.” DNB
laboratory which provides the analytics
has taken a different route, bringing in
capability and the technical scalability
the flexible, best of breed solutions:
required to process the massive volumes
R-Studio, Jupyter Notebook, Spark,
of data in near real time. Amazon Web
Neo4j among others, for their data
Services (AWS) comes in as DNB’s
science capabilities; Syncsort (Trillium)
primary big data appliance, but Millar is
for data quality and Collibra for its
quick to add that DNB takes a holistic
crowdsourcing business orientated
approach to its vendor partnerships,
data governance toolset; D4T4 for
representing a break from the approach
leading edge tagless digital channel
the sector has taken in the past:
capture; and Infosys as the strategic
“Traditionally, most big banks went
data partner, leveraging their capabili-
with one data vendor, but that didn’t
ties and accelerators, related to data w w w.dnb . n o/en
DNB
2.1mn
Personal customers
1.3mn Internet banking users
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269mn
Payment transactions in 2018
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CLICK TO WATCH : ‘DNB – S FOR SAVINGS AGREEMENT’ 17 engineering, data governance and
data driven actionable insights. One
analytics. When it comes to managing
area that has benefitted from such
this array of vendors, Millar believes
insights is the continued development
that DNB’s approach promotes reciproc-
of DNB’s online and mobile digital
ity. “I see our technology solution
services. “We’re looking at digital
vendors as trusted solution partners,”
channel interaction data to asses
he says. “We work closely together
customer journeys on our digital
to foster these trusted partnerships
channels using a leading edge digital
where we co-create and deliver
capture solution, provided by D4T4”,
value together.”
Millar explains. “We can assess whether
All of this advanced technology, and
our digital channels are aligned to
the work involved in implementing it,
customer preferences and continuously
ultimately builds customer-centricity
improve the digital experience.” The
through innovative solutions such as
platforms can also be optimised to
a Data Marketplace that helps drive
deliver highly tailored digital offerings w w w.dnb . n o/en
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to meet anticipated customer needs
continuously enhancing core business
and wants, he says. “Our analytics
operations. Its internal efficiency
capabilities are focused on delivering
program DigiDrift is delivering results
the right product, at the right price,
– DNB has employed robots in as many
through the right channel, at the right
as 35 processes so far - the company’s
time,” says Millar.
chat-bot Aino can talk to 3,000
In addition to developing new and innovative digital products, DNB is
customers at the same time and there is more to come. DNB is embracing
€5.2bn Approximate revenue
1822
Year founded
9,225
19
Approximate number of employees
technologies and expects changes to
augmented Robotic Process Automa-
accelerate in the years to come. The
tion (RPA). “We want to take our RPA
Bank has entered into a partnership
to the next level where we can digitise
with the Norwegian University of
paper documents into a systematic
Science and Technology (NTNU),
process that understands the full
sponsoring three professorships
context of the document and can
focused on machine learning, Natural
process it as if it were a human being,”
Language Processing (NLP) and
he continues. Millar stresses that no w w w.dnb . n o/en
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part of this endeavour is aimed at replacing staff, but is instead about applying people to tasks that require higher value human insights. Making the benefits of digital transformation clear to employees and allaying concerns of what it could mean for their roles has been vital to the success of the journey so far. Through the application of data and advanced technologies to optimise both internal efficiency and the customer experience, DNB is well on its way to maximising the value of the bank’s digital transformation. The focus on reconnecting with customers, not only to deliver added value but also to generate impactful insights to steer strategy effectively, is bolstered by Millar’s unerring dedication to maintaining DNB’s reputation as a trusted data custodian. As the bank’s customers continue to transition to its digital offerings, it is certainly positioned to continue with its powerful and successful data driven digital transformation journey while reinforcing its admirable corporate values of a trusted service provider.
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Dronning Eufemias Gate 30 0191 Oslo Norway T +47 00 47 915 04 800 www.dnb.no/en