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KeyBank Case Study
1. 12TH ANNUAL MBA MINORITY STUDENT CASE COMPETITION
CLEVELAND, OHIO
Presenters
Alternate Hypothesis Consulting
Success in the Digital Age:
Leveraging KeyBank’s Branch Legacy
2. Can you guess what this picture is?
2
Origins of KeyBank (The Commercial Bank of Albany)
America's export potential (Agriculture, textiles and chemicals)
Signed by Dewitt Clinton
3. Agenda
3
Executive Summary
Key Competitive Advantages
Industry Trends
1. Key4Growth, 2. KeySideCar, 3.KeyMelange, 4. KeyAdapt
Mr. Simpson’s KeyBank experience
ROI, Risks and Mitigation
KeyMet – Solution Tenets
Summary and Concluding Thoughts
4. Team Introduction
4
Pravin
Ramasamy Balasundaram
Geethanjali
Mani
Jyothsna
Kakarwada
6 years of technology consulting
experience (4 years in ERP & SAP
Analytics)
Cross-functional experience (Biz. Dev.,
Process improvement, pre-sales)
Technology Evangelist
Published novelist working on his 2nd
Novel
5+ years of experience as an IC
design engineer and team lead
Product management experience
including module design and new
product development analysis
Plays the role of 'devil's advocate' by
critiquing our team's ideas and
solutions
4 years of experience as SAP
Consultant
Expertize in Business Process
Improvement & Client Advisory
Cross-functional Leadership
experience
Led multiple SAP HCM
implementations
5. Executive Summary
5
Maximize value of
KeyBank’s existing
branch network
Business Case Solution Objectives
1
2
3
Disruptive technologies have spurred
creation of new products, services, and
delivery models
Internet and Mobile have accelerated
move away from branch visits, while
increasing the number of interactions
A Googolplexian dollar question: Is bank
branch network an asset or a liability?
Maximize
Revenue
Increase
Profitability
6. KeyBank Competitive Advantages
6
47%
% of customers who
feel a bank is not
legitimate without a
branch. Ubiquitous.
Best Checking
Accounts of 2015.
Hassle Free.
Top 10
944
Number of Branches across 13
states. Highly evolved network.
Number of states
where KeyBank has
footprint. Diversity.
13
7. Industry Trends
7
A Tectonic Shift!
Why is retail bank on the
decline?
A no brainer!
Shift in customer from retail
to online
Need for Wholesome
Banking Experience
3,000
50%
Number of bank branches
closed from 2009-2012
% of today’s bank branches
may be obsolete by 2020
9. KeyMélange – One Teller to rule them all
9
Key Kiosk
BAU Banking
Fin. Advisory
(Hello Wallet)
Currency
Services
IT returns filing
Printing
Rent a room
Utility Bill
Mobile
Connection
Print Token Here
11. KeyAdapt
11
Internal Business process re-engineering through changes to
People & Place
Training
Hub and Spoke training
Train the trainer
Branch layout restructuring
Nimble and agile props (Ex:
Movable walls)
Branch
Makeover
13. Mr. Simpson’s experience
13
KeyMet
Before
10:00 AM
Amazon Locker
9:15 AM
Café Meeting
with Investor
11:00 AM
2:00 PM
Meeting with
Financial advisor
4:00 PM
I’m too tired. Let
me bank online
9:15 AM
Let me go straight
to KeyBank.
Lockers, Printer,
Café, Advisor and
Huddle room.
They have it all!
After
14. Integrated Marketing Communication
14
Now that we have seen how KeyMet initiative helps improved branch
revenue and profitability, there needs to be consistency in
KeyBank’s communication and messages across various media.
Why? What? How?
Consistent Messaging
“A single window to
world of banking”
“NextGen Banking”
“Convenience
Banking”
Multi-Channel Marketing
Active presence in
social media to
promote discussions
Redesign and rebrand
KeyBank’s marketing
messages in hoardings
Ads during TV Shows
Tectonic shift in banking
Make every single Key
Banker understand the
gravity of the changes
Change without
communication is recipe
for disaster
Empower all Key Bankers
17. Risks and Mitigation
17
Recommendation Risks Mitigation
Key Sidecar Contractual complexities
Partner with ‘minimalist-transaction’
oriented organizations and services
KeyAdapt
Workforce’s resistance to
change and training
Positive reinforcement (awards,
incentives)
Key4Growth
Investments for redesigning
individual bank branches
Technology deprecation
Leverage a single architecture firm to
minimize costs
Focus on simplicity/austerity
Periodic software upgrades and audits
KeyMélange
Communicating new brand
image and services
Breach of Privacy
Integrated marketing communication
Biometric logins and cyber security
audits
24. Assumptions
24
Our project costs are for one prototype branch only. However, many of the costs will be
reduced because of economies of scale.
Costs for ongoing R&D activities like Facial recognition and Biometric activities are not
included in the calculation.
Revenue generated from new customer acquisition and employee engagement are not
included in the calculation.
There will be ongoing training and maintenance.
No depreciation has been considered.
Model assumes steady value of USD and no inflation.