CX Wires Strategy

CX Strategy
ID 004621 Online Wires

Kendra Shillington
REVISION HISTORY
04.27.2011 CB
04.22.2011 CB
04.21.2011 CB
04.20.2011 CB
04.04.2011 CB
ID 004621 Online Wires CX Strategy 1

Table of Contents
Purpose of this Document 3
Research & Insights 4
The Wires Universe 5
Wires at Wells Fargo 6
Layered Complexity 7
Standalone vs. Integrated 8
A Multi-Touch Point Experience 9
Scenario 1 10
Scenario 2 14
Scenario 3 18
CX Considerations 22
Business Drivers 30
CX Strategy & Recommendations 31
Risks & Barriers 32
Next Steps 33
Preliminary User Flow 34
Example: Service Blueprint 35

Purpose of this Document
• Articulate the fundamental business requirements for the Online Wires project.
• Understand and identify key issues and barriers that impact the customer experience.
• Provide a user-centered design framework for the customer experience.
• Propose a customer experience strategy based on user-centered design methodology.
• Create a roadmap and determine next steps for implementing customer experience design.
• Build consensus on customer experience strategy and approach.

Research & Insights*
Customer Feedback
• Customers have a clear understanding
of wires
• Current wire usage is tied to transfers that

need a combination of speed, safety, high
dollar limits, and international
availability.
• In-store experience is inconsistent and

frustrating – it takes too long and bankers’
experience varies.
* Online Wires Foundational Research

The Wires Universe
Popular Recipients Cutoﬀ
Fees & (Title & Investment Times Advanced
Disclosures Name,
Limits Delivery companies Recurring Access
Address, etc.
Speed Terms and Tiered or Future
What you'll Conditions Limits
MTS (linked
Wires vs Fed Ex need SWIFT/BIC to Funding Currency
ACH Model Lookup Tools Acct) Remittance
Info
Product
Comparison
Account/ Save as
Recipient RTN Info Select From Template
Details Account Payment
Basic Info Details
Repetitive
Search
Understand Wires Email
Authenticated Verify &
Session Submit
Evaluate SMS
Customer Add/Select Alerts

Support Recipient Send Wire (Wire Sent)
Print
Find Initiate &
Search Setup Receipt SMS
(Public Site)
Confirm
Store
Locator Locate/ Email
Navigation Alerts
Discovery (Wire
Account Received) Outgoing
Activity
Account
Track/
Services Transfers &
Review
Transaction
Payments Incoming
Experience History
Wire
Transfers
Ecosystems
Hogan
Systems & Phone

Touchpoints Banker
Data
SWIFT Servicing
MT103
Browser
(Online)
WF Wire
OPs Pay Dirt
Branch/
Store
Process SVP/Banker
Exception Save/Access
Fed Wire Platforms
Recipient Data
Mobile
Dedicated
800 Number Online Help
OCS Priority
Queuing

Wires at Wells Fargo
Current State Future State
Reduce costs in the stores
Expensive to process
wires in store
Better customer support
No integration across
channels/touchpoints Improve cross-channel Phone Banker
In-Store/Branch experience
Mobile In-Store/Branch
CEO CEO WF.com
Online Online
CEO CEO wellsfargo.com

Mobile Mobile Online
Phone Banker
Enable mobile wires
Increase adoption & use

of online wires
Currently offered in the branch and by phone Reduce costs through self service channels like
based on approval of manual forms. web and mobile.
CEO offers wires online and through their mobile A standalone product may be quicker to market as
app. a mobile service.
Bof A, Chase, and Citibank have an online wires Avoid customer attrition by not offering online wires
offering. when our competition does.

Layered Complexity
Advanced Access?
T&C’s What’s this?
Help/Service
Limits & Settlement

Currency Conversion
SWIFT/BIC/IBANN/ABN Lookup
Add Recipients
Advanced Access/Authentication
Online Wires Firsttime

Customer
The wires experience is potentially a multi-layered process which involves additional security measures
and authentication, lookup tools for routing numbers, etc. and various levels of help, servicing, and
disclosures.
A well designed first-time customer experience, clear servicing guidelines and a nicely orchestrated
cross-channel experience will be key for Online Wires success.

Standalone vs. Integrated
• The FedEx model of money movement is
P2PBillINTERFI
Pay
widely used and easily understood by
customers.
FXOL
ICT
?
• It might be hard to integrate Online Wires
into our money movement offerings because
wires is a product that works across our
EXPress SEND
current tab structure.
• A standalone service may be appropriate

since customers know what it is and are
already looking for it online (and mobile).
The FedEx Model of Money Movement

Product Limits Cutoff Time Delivery Cost
Speed
ACH $1000.00 5PM PST

2 $3
DAY
$1000.00 5 PM PST NEXT

ACH
DAY
$10
$500,000.00 3PM PST SAME Paradox
WIRES
DAY
$25 of Choice

A Multi-Touch Point Experience
Hi, I’m online right now

trying to make a wire transfer No problem,
and had a question about how can I help?
IBANN codes.
Customer
Support
Customers will embrace new channels and touch points,

but won’t just necessarily abandon old ones. (Forrester)
Firsttime
Customer

Scenario 1:
Family member robbed & stranded overseas

URGENCY is often a part of the WIRES
On the
experience and can add stress. train back from Rome,
Calm down... I was Robbed!

It’s going to be OK!
We’ll wire you the money.
Harry’s daughter Sarah is SARAH

studying for a year abroad
in London. Emotions can be elevated when family, loved ones
HARRy or highvalue transactions are involved.
EMOtiOns
tOuCHPoinTs
PHONE WEB MOBILE

CUTOFF times?
The UK
is 8 hours ahead.
I can save time by
doing it online.
Customers have the

WF Consumer
Transfers
Between your accounts
| To another customer
| ExpressSend | Wires
Cancel Continue
expectation that doing

things online will
save time.
When they’re upset or emotional,
ease of use, comfort, and security,
are even more important to them.
HARRy
EMOtiOns
tOuCHPoinTs
PHONE WEB MOBILE

A couple of hours later, Harry receives
a call from his daughter on his cell phone
that the wire has reached its destination.
He is relieved she’s OK, received
the funds, and won’t be sleeping on a park
bench in Trafalgar Square.
Harry checks his balance

on wf.com to be sure the
funds have been removed
from his account.
EMOtiOns
tOuCHPoinTs
PHONE WEB MOBILE

Scenario 2:
Making a big investment (life goals)

Can you email
me the details of
where you want the
wire to go?
Bill has been considering some

investment opportunities for capital growth
and is thinking of getting involved in a REIT.
The deadline for participation is
$
approaching and the company suggests
that Bill wires the $100,000.00
to their account.
EMOtiOns
tOuCHPoinTs
PHONE WEB STORE

I can do Oh Snap!
this online, I think. I have to go to
Let’s see here... the branch.
Because of the amount of

Bill’s Wire Transfer and a
combination of other factors
to evaluate risk (interdiction),
Bill must physically go into a branch
to authenticate and complete
the transaction.
EMOtiOns
tOuCHPoinTs
PHONE WEB STORE

I have a
wire transfer that
I started online.
Let me pull
it up for you
I need to
ask a couple of
questions
Fortunately, the details of Bill’s wire transfer

and the recipient info has been saved, so he
doesn’t have to start over from scratch
at the branch.
EMOtiOns
tOuCHPoinTs
PHONE WEB STORE

Scenario 3:
Doing business overseas (recurring wires)

Jerry has a startup. He offshores his development to the Ukraine. He usually sends repetitive wires at
least once or twice a month.
SAN FRANCISCO Hi, I need KIEV

to cancel an
outgoing wire.
UKRANIAN
DEVELOPMENT
TEAM
He has a recurring wire scheduled for today,

but calls the WIRES hotline to cancel. The
latest invoice is for a greater amount than usual
JERRY
(ENTREPENEUR)
and he needs to take a closer look at his finances.
EMOtiOns
tOuCHPoinTs
PHONE WEB MOBILE

nsume r s Wires
WF Co
|
Transfer ExpressSe
nd
|
er customer
Wires
| To anoth
unts
your acco
Between
Outgoing
Jerry is constantly on the move. At the cafe

he checks his email, account balances, looks at
his wire activity, and realizes he has enough in
his account to wire the Ukraine for their
recent invoice. He knows the cutoff time is
approaching but has to leave for a meeting.
EMOtiOns
tOuCHPoinTs
PHONE WEB MOBILE

The
Daily
O’MALLEY’s Tons of Suds
Scoop LAUNDROMAT
OPEN
On his way to the meeting, Jerry decides to send the wire from his mobile phone. His previous wire
recipient info is accesible on his phone and always saved for future use.
EMOtiOns
tOuCHPoinTs
PHONE WEB MOBILE

CX Considerations | Where does it live?
WF Wells Fargo Online

Account Services
Overview | Contact Us
Account Access
Manage Guest Users
Messages & Alerts

View Messages & Alerts
Set Up/Modify Alerts
Transfers would be an intuitive place for the

Transfers Wire Transfer service to live under the
Transfer Money & Make Payments
Transfer to a Wells fargo Customer
current structure of the Account Services
Set Up Recurring Transfer page.
Express Send
Wire Transfers Customers could access the service here as
a satellite experience or as an integrated
experience under the Transfers tab.
Bill Pay
Apply for Bill Pay

CX Considerations | Transfers Hub
Transfers Overview could display all of our

transfer products and services. Similar to BOB
WF Consumer display of Transfers & Payments options.
Transfers
Transfer Overview | Transfer Activity
Between my Wells Fargo Bank to Bank Frequently Asked

Accounts Transfer money to a nonWF account. Questions
Transfer money between your WF
Limits & Fees
Accounts.
Cutoff Times
Person to Person Advanced Aceess
Transfer money to anyone by email
Express Send or mobile number ACH vs. Wires
Transfer money to recipients in Foriegn

countries for cash pickup or to an account
Wire Transfers Need Help
in our network.
Transfer money to any foreign or Choosing a
domestic account. Transfer Method?
Wires can be accessed from Try our transfer
Transfers Overview. Help customers evaluate and recommendation tool.
differentiate transfer methods OR
and costs.
View Transfer
comparison chart

CX Considerations | Integrated Approach
WF Consumer
Transfers
Between your accounts | To another customer | To another country
Wires could be integrated

Transfer Money & Make Payments into our current IA structure.
Advanced Access is required for this transaction. What’s this?
From Account Select Any

If integrated, accounts and
To Account Select Any Add New Account or Recipient recipients, would be
interchangeable.
Enter Amount $
Surface FedEx model to

Choose Delivery Speed* determine transfer method.
3 business days ACH $3.00 5pm PST cutoff time
Expose cutoff times, could
Next business day ACH $10.00 5pm PST cutoff time be dynamic, or alternatively
show when transfer would
Same business day Wire $25.00 3pm PST cutoff time
arrive (pain point).
Cancel Continue
*Disclosures & Terms goes here

CX Considerations | Gold Medal UI (Release 4.11)
WF Consumer
Transfers
Between your accounts | Send & Receive Money | To another country International wires add
complexity (currency
Send Money conversion, etc.) and start
to break UI framework.
Send Money Receive Money Manage Contacts
Add recipient module would
need to have options for
From Account Select Any routing codes and account
Send To Select Any Add Recipient numbers, etc. Currently,
assumes you’re sending to
Amount $ About Limits a person. What about a title
or investment company?
Description This will be seen by you and your recipient.
For first-time online wires,
Choose Delivery Speed* there may need to be
pre-defined limits to
3 business days ACH $3.00 5pm PST cutoff time
mitigate risk.
Next business day ACH $10.00 5pm PST cutoff time
For wire eligible accounts,
the wire option would be
Same business day Wire $25.00 3pm PST cutoff time
selectable.
Cancel Continue

CX Considerations | Interface Elements
Wires could also be an additional

tab. Also might consider making
WF Consumer ExpressSend its own tab.
Transfers
Between your accounts | To another customer | ExpressSend | Wires
Step-thru progress
Add/Select Transfer Verfy &
Recipient Details Submit
Confirmation indicator could
1 2 3 4 help orient the
customer through-
WHERE is the wire for this recipient going? out this multi-step
US NonUS*
Allow customers What you’ll
to save recipient need:
WHO are you sending the wire to? info for re-use. Advanced Access
What’s this?
Customers should
Add NEW My Saved Recipients/Templates know what’s
Recipient ABN/ required and may
ENTER Recipient Name or choose from the dropdown Routing Number need contextual
Consider asking What’s this?
help.
questions up front Cr
Crabtree Home Mortgage SWIFT/BIC
which may have Code (NonUS)
a big impact on Crable Bros. Investments
What’s this?
Credit Mortgage
pathing or what’s Credit Suisse
displayed con- Credit Corporation of America Use autocomplete to surface a combo box with
ditionally to the Credit World Title Co. pre-validated title and investment companies
customer from our directory for the customer to choose.
downstream.
Cancel Continue

CX Considerations | Transparency
WF Consumer
Transfers
Help customers evaluate best transfer

method with a simple tool or product
Best transfer method for you! comparison matrix.
How much do you want to send?
$50,000 $75,000
We recommend...
When does it need to arrive? Wire Transfers
Same Day Next Day 2Day cost/Fee
No
$25.
SAME
Limits 00
Where is it going? Day
US NonUS
Cancel Submit
What you’ll need:
Advanced Access What’s this?
Recipient ABN/Routing Number What’s this?
Set expectations around what customers Cancel Send Wire

will need to complete the task.
Communicate clearly about fees, limits,

cutoff times, conversion rates, etc.

CX Considerations | Hooks & Triggers
WF BiZ
Transfers & Payments
Overview | Bill Pay | Transfers | Tax Payments
Between your accoiunts To another customer To another country
Between the cutoff time of one business day and the next, $1000 is the maximum amount that you
can transfer online from your account to the accounts of other Wells Fargo customers.
Need to send more? Try Online Wire Transfers
Hooks, triggers, and entry
points for online wires will be
key to its success, especially
as a standalone service.

CX Considerations | Design Patterns
WF Consumer
Transfers
Because of the potential
complexity of the experience,
Advanced Access is required for this transaction. What’s this? dynamic and conditional
Sign up NOW!
displays can help reduce
customer confusion and
frustrations.
Advanced Access is required for this transaction. What’s this? Progressive disclosure and
hide/show patterns can also
help reduce clutter and keep
the customer on task.
Lightboxes and overlays may

contain discreet subtasks i.e
looking up a routing number or
accepting terms & conditions.

Business Drivers
• Cost savings benefit from time and personel servicing in-store wires (73 FTE’s/yr, $1.5M/yr)
• Increase utilization of foreign currency. Generate revenue from foreign currency conversion($5M/yr)
• WOW– provide a great customer experience, increase loyalty and retention.
• Acheive parity with our competitors, avoid customer attrition.
• Increase use and adoption of Online Wires.

CX Strategy & Recommendations
• CX will continue to support business goals and user needs through UCD process.
• Transparency should be given to standard attributes such as fees, limits, cutoff times,
disclosures, etc., but also to support the business goals, we need to be transparent around
foreign currency conversion and its associated customer benefits.
• Particular consideration should be given to the first-time customer experience.
• Be empathetic and respectful of the emotional and stressful nature often associated with
high-value, urgent transactions. (Communication strategy, voice and tone, are important to
support this goal.)
• A standalone wires service may be a desirable short-term approach. Customers know what
wires are and are already looking for them under specific circumstances.
• We need to give consideration to the current IA and tab structure and better understand the
quickly shifting money movement landscape to accomodate our new products and services
that are presently making the current structure obsolete.
• The capacity to save and re-use customer data and recipient info within online wires and
across the enterprise will help make this a good customer experience and reduce customer
pain points.
• Short-term, may consider enabling online channel for repetitive wires only after the recipient
accounts have been verified by an initial in-store wire.

Risks & Barriers
• Wires are the riskiest out of bank transfer for both the cusomer and the bank.
• Fraud prevention measures and risk management are critical to enable this functionality
online, let alone mobile.
• Because security is a huge and central component surrounding this experience for both the
bank and customer, this process needs to be bullet-proof, front and center, but not get in the
way of completing the transaction.
• There are added complexities and anomalies because the wires product spans both
domestic and foreign transactions. International transfers may have different limits, intermediary
banks, certain types of specific routing codes (SWIFT or IBANN), and the additional layer of
currency conversion.
• Our ability to communicate clearly to the customer about our money movement story and the
differences between alternative transfer products is a challenge. (The FedEx model will have
additional complexity to accurately describe our transfer products.)

Next Steps
• Consider the possibility of conducting Listening Labs with low fidelity or clickable (iRise)
prototypes to gain more insights into usability before commiting to a full Usability study.
(CX & LOB)
• CX to begin modeling the experience: design for wireframes & actual screen mock-ups for
online wires experience. (CX)
• Gain more understaniding into the MMS Roadmap from key stakeholders consider near-term,
mid-term, and long-term affects and impacts to this project and MMS. (LOB)
• CX to help with assets or artifacts to present at Stage Gate 2.(CX)
• Gain approval to pass through Stage Gate 2 and get additional resources to move forward.(LOB)

Preliminary Task Flow
Transfer &
Payments Account
Activity In-store/Branch
1 2 3
Call Center
Acount OLB/WIB Store Go to 2nd Signature Store Manager
Validation
Branch/ Required Approval
Services Entry Point Locator
Store
Tiered Limits & Security Steps
Wires
BIZ or
BIZ Landing Page May not be
Consumer?
This may not be a (BIZ) necessary to
separate page but
segment out
could be a module or
Help tile on the Wires
landing page Consumer Physical
Go to Receipt Exit Branch/
Branch/ Store
Store
What You'll First-time

Yes Customer
Need Y/N?
Incoming/
What's Outgoing
this? No Activity
Email SMS
800
Number
Advanced Wires
Advanced
Access Access
Cancel/ Landing Page Alerts
See Activity
No Modify Sent
Sign Up EnrolledY/N? (Consumer)
Saved
Recipients
Yes Standard Save for Recurring

Limits or
Templates other details Reuse?
Use Template,
Add New Stored Recipient, trigger
or Add New? exception
Sign Up Or maybe this
Complete Currency Do not display goes at the end
Converter to First-time of the task
Request What's customers
Existing Recipient
Code this?
or Template
Add SWIFT/BIC
Recipient Select From Transfer Advanced Advanced Verify &
Lookup No Access Approved Options No Confirmation
Recipient Y/N? Info/Details Account Details Code Y/N
Submit
Popular Yes
Recipients Not
Approved Yes
Print
Receipt Save for
Standard Terms & SWIFT/ Intermediary Reuse
Future/
Templates Conditions BIC Bank Info
Recurring?
Lightbox
ABN/RTN Lookup tools vary based on transfer

IBANN
Number destination (domestic vs. foreign, etc.)

Example: Service Blueprint
Use Case 1: First Time Wire Transfer (Current Experience)

Physical Evidence
Customer picks Customer glances Customer enters Customer fills out Customer gets a paper Money shows up Customer logs in to
up phone at clock local branch paper form receipt of transaction Two hours pass by in account Online Banking
Customer calls a Phone Customer notices the Customer enters the Customer fills out the Customer gets a paper Wire transfer is complete Customer goes online
Banker to initiate a wire clock and realizes that the branch store and is greet- form with the details for receipt for the wire and funds appear in the later in the evening and
Customer Actions
transfer to their daughter end of business day in ed by a customer service the wire. He does have transfer and thanks the customer’s dughter’s recieves an email
FRONT STAGE
who is traveling in Europe Frankfurt is fast approach- person who directs then questions about what is banker for his help account. confirmation that funds
and has been robbed. ing. Overcome by a sense to a banker who can help or isn’t required and the have been recieved at the
of urgency he grabs his with the wire transfer. in-store banker is helpful. destination account
keys and heads to his Customer’s signature is
local branch. He doesn’t required.
want his daughter sleep-
ing on a park bench.
LINE OF
INTERACTION
Front-of-stage
Interactions
Phone Banker explains to The banker gives the Banker verifies details Banker tells customer that
customer that wires need customer a form that they with customer and enters information for this trans-
to be initiated in a branch need to fill out with the transaction details into the action will be kept on file
store. details of the wire transfer. system. in case of future wires.
LINE OF VISIBILTY
Back-of-stage
Interactions
Because it is a high-value
transaction and the banker
does not have a lot of
experience with wires, a
BACK STAGE
manaager’s approval is
required.
LINE OF INTERNAL
INTERACTION
PAY DIRT SWIFT MT 103 STP 820 ISO 20022 HOGAN/ALERTS

Support Processes
Details or overview of Details or overview of Automated batch email

what processes are hap- what processes are hap- alert is sent notifying the
pening on the back-end pening on the back-end customer that funds have
behind the scenes would behind the scenes would reached the destination
go here. TBD. go here. TBD. account.

Thank You!
(THE END)

CX Wires Strategy

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CX Strategy

ID 004621 Online Wires

ID 004621 Online Wires CX Strategy 1

Research & Insights 4

The Wires Universe 5

Wires at Wells Fargo 6

Standalone vs. Integrated 8

A Multi-Touch Point Experience 9

CX Strategy & Recommendations 31

Risks & Barriers 32

Preliminary User Flow 34

Example: Service Blueprint 35

ID 004621 Online Wires CX Strategy 2

• Provide a user-centered design framework for the customer experience.

• Propose a customer experience strategy based on user-centered design methodology.

• Build consensus on customer experience strategy and approach.

ID 004621 Online Wires CX Strategy 3

• Current wire usage is tied to transfers that

• In-store experience is inconsistent and

* Online Wires Foundational Research

ID 004621 Online Wires CX Strategy 4

Customer Add/Select Alerts

Systems & Phone

ID 004621 Online Wires CX Strategy 5

CEO CEO wellsfargo.com

Enable mobile wires

Increase adoption & use

ID 004621 Online Wires CX Strategy 6

Limits & Settlement

Online Wires First­time

ID 004621 Online Wires CX Strategy 7

• The FedEx model of money movement is

• A standalone service may be appropriate

The FedEx Model of Money Movement

ACH $1000.00 5PM PST

$1000.00 5 PM PST NEXT

ID 004621 Online Wires CX Strategy 8

Hi, I’m online right now

Customers will embrace new channels and touch points,

ID 004621 Online Wires CX Strategy 9

ID 004621 Online Wires CX Strategy 10

Calm down... I was Robbed!

Harry’s daughter Sarah is SARAH

ID 004621 Online Wires CX Strategy 11

Customers have the

expectation that doing

ID 004621 Online Wires CX Strategy 12

Harry checks his balance

ID 004621 Online Wires CX Strategy 13

ID 004621 Online Wires CX Strategy 14

Bill has been considering some

ID 004621 Online Wires CX Strategy 15

Because of the amount of

ID 004621 Online Wires CX Strategy 16

Fortunately, the details of Bill’s wire transfer

ID 004621 Online Wires CX Strategy 17

ID 004621 Online Wires CX Strategy 18

SAN FRANCISCO Hi, I need KIEV

He has a recurring wire scheduled for today,

ID 004621 Online Wires CX Strategy 19

Jerry is constantly on the move. At the cafe

ID 004621 Online Wires CX Strategy 20

ID 004621 Online Wires CX Strategy 21

WF Wells Fargo Online

Online Wires Firsttime