1. 1
Prof. Dr. Andrea Back, Christian Ruf
Institute of Information Management, University St.Gallen
christian.ruf@unisg.ch
DESIGN OF A MOBILE COLLABORATION PROCESS
FOR THE PRIVATE BANKING CUSTOMER SEGMENT

2. 2
0% 20% 40% 60% 80% 100%
Video conferencing
Socia Media
Mobile
E-Banking
Paper
Email
Personal contact
Phone
2013
2015
Mobile becomes the most important channel.
Which of the following does your organization currently primarily utilize to interact with
your clients and which are you planning to utilize in the next 2 years?
PwC. (2013). Global Private Banking and Wealth Management Survey 2013.

3. 3
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Mobile banking is strategically important
for private banking clients.
By 2022, the dedicated adviser‘s role will have
changed to a moderator that connects the customer
with a broader range of topic experts through…
In 2022, digital channels will have significantly
replaced the traditional “bricks and mortar“ channel.
By 2022, mobile information services that allow
clients to engage directly in the investment process
will have become standard.
By 2022, enhanced mobile and internet-based
solutions will become major differentiators also for
private banks (e.g. mobile apps, etc.).
The number of products and services
your bank offers clients will decrease and
become leaner by 2022
1 = Strongly disagree 2 = Disagree 3 = Neither agree nor disagree 4 = agree 5 = strongly agree
Mobile becomes a key differentiator in private banking.
Expectations regarding digital channel development.
KPMG. (2013). Success through innovation - achieving sustainability and client-centricity in Swiss private banking.

4. 4
Problems of current financial advisory services (FAS).
Principal Agent Problem
• Conflict between long-term goals of the
client and short-term goals of the RM
• Financial incentives
Private Banking Customer
• Customers demand the best
financial advisory service anytime,
anywhere
• Speed of the financial advisory
services
Relationship Manager (RM)
• The average portfolio of an RM is about
200-300 private banking customers
• Individual client advisory is becoming more difficult

5. 5
The solution: customer Journey of a mobile FAS.
Define
strategy
Gather
information
Analyze
information
Financial
planning
Implement
strategy
Monitor
Contact Recommend Follow upAdvice Close
1. Contact
• RM wants to execute investment strategy and contacts the client
• Client has questions with regard to the current market development
2. Recommend
• Client evaluates with «like» «do not like»
• Client asks questions or requests additional information
3. Advice
• RM can choose between IM, Video or VoIP
• Answer questions and update investment strategy
4. and 5. close and follow up
• Binding sale or buy requests
• Determine follow-up sessions
1 2 3 4 5

6. 6
The dissertation project.
Understand
Problem
Define the
design goals
Analyze
goals and
draft new
service
Define
service
Evaluate
service
ProcessResultsActivities
Principal agent
problem, high-
quality FAS
anytime,
anywhere
Requirements along the
customer journey
• RMs
• Bank
• IT und processes
• Environment (legal,
compliance)
• 9 interviews with experts
• 3 focus group workshops
• Literature review
work-in-progress planned
• Design of a service blueprint
• Develop a prototype
• Evaluate the prototype
Evaluation with prototypes
• How can such a service help to
build customer trust and thus
acquire more assets?
• Are the customers satisfied?
done
Interviews,
focus groups
and literature
review

7. 7
1. project: Requirements
Engineering with experts
 Various experts from the
financial service industry
 RMs, IT, project
managers, decision
makers
2. project: focus groups
workshops
 Requirements will be
presented to the
practitioners and project
partners
 Requirements will be
prioritized and specified
3. project: evaluate and
build first prototypes
 Design of a service
blueprint
 Simulate interactions
between the RM and the
customer
 Two evaluations
Three current projects.

8. 8
Customer trust
Perceived
normality
Perceived
familiarity
Perceived
privacy, security
Perceived
transparency
Perceived
social presence
Calculative-
based trust
Relational-
based trust
Institution-
based trust
Gefen, D., Karahanna, E., & Straub, D. W. (2003). Trust and TAM in Online Shopping: An Integrated Model. MIS Quarterly, 27(1), 51–90.
doi:10.2307/30036519
Intention to use
Theoretical contribution: from a model to requirements.

9. 9
Method: expert interviews.
Interviewee Position
INT01 Responsible for projects and infrastructure at a Swiss private bank
INT02 Senior consultant at a technology company with a focus on the
financial service industry
INT03 Banker at an international private bank
INT04 Community manager for investment advisors at a Swiss bank
INT05 Investment advisors at a Swiss bank
Interview questions (semi-structured)
• How could we increase customer trust in collaboration processes on mobile
banking platforms?
• How do you think the design requirement “normality” can build trust in a
collaboration process between a RM on a mobile banking platform?

10. 10
Results.
Design Requirement Representative Quotation Count
(1) Security, Privacy “Does the customer really trust the bank that the security and privacy
standards are sufficient?” INT01
5
(2) Transparency “I propose that the bank should provide the customer with the same tools as
the relationship manager. The customer needs to know that the bank has no
interest in biased financial advice that maximizes its own revenues.” INT04
5
(3) Familiarity “As a bank you have a lot of channels and you need to make sure that the
customer experience is somewhat similar across these channels.” INT02
1
(4) Social Presence “Personal financial advice is not bound to the medium. For example, a richer
medium does not necessarily result in a more personal interaction. The
specific content makes the interaction between a relationship manager and
the customer personal.” INT04
4
(5) Normality “We have looked at extraordinary financial portals in order to get some
ideas on how to design a mobile banking platform for our customers.” INT05
4

11. 11
Prof. Dr. Andrea Back
Andrea Back ist Direktorin, Lehrstuhlinhaberin und Professorin für
Wirtschaftsinformatik an der Universität St.Gallen. Sie leitet das CC Business 2.0 und
das CC Mobile Business. Ihre Forschungsinteressen umfassen vor allem
Wissensmanagement, Enterprise 2.0 und Collaboration Workspaces.
andrea.back@unisg.ch
Tel.: +41(0)71 224-2545
M.A. HSG Christian Ruf
Christian Ruf studierte Business Innovation an der Universität St.Gallen. Während
des Studiums sammelte er Erfahrungen in Praxisprojekten und in der Lehre als
Assistent an der ZHAW mit Schwerpunkten in Prozess-, Projektmanagement. Seit
Oktober 2012 ist er in Themen rund um mobile Kollaborationsprozesse tätig.
christian.ruf@unisg.ch
Tel.: +41(0)71 224-2791
CONTACT US