“Data is the new oil”, Clive Humby said in 2006, and now, in 2020, it goes without saying that being able to use data to drive informed business decision in real-time is the new goal of each and every bank. Now, how to think strategically about how best to manage data across the organisation? How best to generate insights from data and use them in a meaningful way for our clients and for the organisation? This is the project we started working on with our Chief Data and Innovation Officer looking at first, how our colleagues use data across the functions of the organisation to take business decisions. This presentation shares the research learnings as well as our strategic vision regarding the data platform and data-informed client experience.

1. KEVIN BOEZENNEC
UX STRAT Asia
November 2 - 3, 2020
DESIGN STRATEGY FOR A
CENTRALIZED DATA
PLATFORM

2. Designer with over 12 years of international experience
creating strategies, designing successful digital products and
leading organisations adopting a user-centric culture mindset.
Today: Director, Team head of UX
- Lead the Design from the innovation hub, set up to identify,
incubate then scale internal innovation initiatives and also
identify external innovation (Fintechs) that can support the
bank business strategy and transformation agenda.
ABOUT ME
Innovation Digital Products
UX STRAT Asia 2020

3. BANK OF SINGAPORE
Asia's global private bank
- Bank of Singapore is a wholly owned
subsidiary of OCBC Bank, Southeast
Asia’s second largest bank.
Headquartered in Singapore, Bank of
Singapore operates from a strong and
open economy.
- The bank is one of the fastest growing
private banks in Asia, offering a
structured and consistent approach - an
open architecture product platform with
robust research capabilities to deliver a
total risk-based solution customised to
each client’s needs.
UX STRAT Asia 2020

4. DESIGN APPROACH
UX STRAT Asia 2020
Clear Need
Empathize
Define
Ideate
Prototype
Experiment
Revise Hypothesis
Learn
Build
Mesure
Pivot
Sprint
planning
Execution
Shippable
incrementReview
Target
customers
Growth
channels
Offer and
enhancement
Pirate metrics
Innovation
accounting
Problem Solution Growth
Design Thinking
(Explore the problem)
Lean
(Build the right things)
Agile
(Build the thing right)
Growth Hacking
(Grow the business)
Business Model Product / Market Fit
DirectionConcept
Innovation
DigitalDigital

5. Study across the bank: 19 participants from 7 business units across the globe
- Front office, finance, business managers, change management, risk…
- ~1 hour call with each participants
Research Objectives:
UNDERSTAND HOW DATA ARE USED TO TAKE BUSINESS
DECISION?
Capture current
satisfaction level
concerning data usages
Understand how
reporting is done across
the bank
For what purposes
reports are used for?
(BAU, audit, etc)
What is the volume of
reports generated
monthly?
1 2 3 4
UX STRAT Asia 2020

6. UX STRAT Asia 2020

7. Top 5 key findings
1. Lack of access rights
- Where/who to approach to gather data?
2. No single source of truth
- Too many fragmented data source in silo
3. Lack of common data definition
- No common data definition
4.Poor data quality
- No data integrity & consistency, 7 sources of data
5.Lack of proper tools
- Too many human intervention, no analytics tools for
complex operations
UNDERSTAND HOW DATA ARE USED TO TAKE BUSINESS
DECISION?
“We are spending at least 70% of
our time extracting data and 30%
on analysis”
“Some time data is everywhere
and it takes 2 weeks to complete
a report”
“No control checks done during data
entries hence prone to human error
after changing multiple hands”
“Newcomers won’t know where
to find data”
UX STRAT Asia 2020

8. Data Architecture
STRATEGICAL VISION
Analytics Architecture
Source Systems Data Warehouse Analysts
Explore real production data
4 principles of analytics
Create your own dashboard Use own business data Annalyst to code
Unlike IT projects, Data Analytics
starts with production data
exploration
Every use-case requires thrown
representation of data. One size
doesn’t fit all
Every analytical task requires to
enrich the core system data with
business definition and other logics
to produce meaningful results
If the analysis is successful,
business users want a regular
refreshed version
UX STRAT Asia 2020

9. 4 pillars of BoS Data Transformation addressing platform, people, process and business value
STRATEGICAL VISION
CULTUREGOVERNANCE
ARCHITECTURE
DATA FOUNDATION
BUSINESSINTELLIGENCE
DATA
SCIENCE
Analytics Use Cases
Implement use cases with impact
on growth (Client’s knowledges,
prospects…) or efficiency (Research,
risk assessments…)
Build a scalable Analytics Platform
with visualisation, data management
and collaborative features
Analytics Platform
Data Governance
Strengthen Data Governance
through the implementation of a
Data Board overseeing data quality,
protection and AI implementation
Increase Data literacy of BOS data
family by empowering Power Users
with Python skills within the business
Data Culture
UX STRAT Asia 2020

10. Data-informed design: UX research
STRATEGICAL VISION
Quantitative Qualitative
Purpose Discovering facts Understanding behaviour
Data analysis Numerical comparison Themes identified by users
Insights
How much of a behaviour is
present in a group
What factors determine the
behaviour in a group
Reporting Statistical inferences Language of the users
Qualitative (direct) Quantitative (indirect)
Attitudinal
Behavioral
What people do
What people say
Why & how
to fix it
How many &
How much
UX STRAT Asia 2020

11. Metric and objectives
Monitor both “hard” metrics on performance and “soft” metrics that relate to the transformation health
STRATEGICAL VISION
Perception
(Subjective)
Business
(Mesurable)
Behavior
(Observable)
Operations
(Observable)
What users tell us about their
perceptions and experiences?
- Relationship level, journey and
interactions
- What users believe is true is a fact
What business results do we
aspire to achieve?
- Deliver tangible value
- Understand what value we want
to drive
What do users actually do
(positive or negative) as a
consequence of their experience
with our bank?
- Volume of transactions, stay
longer, call less (or more) for
support, spend more time on
the digital app…
What happens to users across
journeys and during their
interactions?
- Interaction with the systems and
processes
UX STRAT Asia 2020

12. The essential elements of data informed user experience
STRATEGICAL VISION
Comprehensiveness is key, and
end-to-end strategy helps set the
priorities for maximum return on
investment
Collaboration and coordination
across functions based on the vision
Be flexible to scale & adapt to short
and long term execution
Iteration is essential to support
continuous improvement
Maintain focus on what users
wants ant anticipating future needs
at the core of everything we do
Analysis & insights Strategy & UX
Operating model design & execution
Users
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UX STRAT Asia 2020

13. KEVIN BOEZENNEC
Contact: https://www.kevinboezennec.com
THANKS!