[Music] [Maria Magi] Hi. I'm Maria Magi, Head of Customer Engagement from Nordea Bank.
[Jorge Gonzalez Flores] My name is Jorge Gonzalez, Head of Data Products and Marketing Technology. I would like to share with you our journey to power Customer Engagement with Adobe Experience Platform.
Nordea is one of the biggest banks in Nordics, and we strive to be personal expert and responsible. And being personal, we really want to understand our customers and build strong relationships with them. And in this session, we're focusing in this part in particular, and we will be looking into how Nordea is building capabilities to enable personalized advice and communications across our digital channels.
Our vision is to really understand our customers, their life stages, their key life events, their dreams, their aspirations. And then based on that enable proactive and well timed personalized advice and communications.
On top of that, of course, we want to be able to tailor those messages and communication according to individual preferences. And in the back of all this, obviously, we want to be a trusted partner for our customers to promote their financial well-being also through the digital channels.
One of the steps then that we have taken towards this vision is to modernize our martech stack and our marketing automation tool in particular.
And that like, modernizing our marketing automation tool really enabled us to scale up the number of activities, the number of data that we're using, and the channels that are used for digital personalized advice.
And, as you can see, we've already had a significant uplift on the number of activities that we are running across four markets at the moment.
Then, we're gonna say a few words about where we're coming from. And the previous tools that we were using really prevented us from scaling, from moving towards the vision. And from the business perspective, really, one of the key things were ability to scale up. And that's something that we have been tackling now with the new tool. Jorge, do you wanna go into more details on that? Yes. Let's go through some of the challenges that we had in our previous platforms.
We had reached the limits on how many campaigns were run at the same time and how much data we could use in our activities. Now in Adobe, we'll be able to scale up our activities much more as you can we have seen in the numbers already. We're able to use richer data both for segmenting our customers and then personalizing the content are able to leverage real-time data in our day-to-day.
Another challenge we had is that we're operating in separate solutions, and we had custom built integrations across all of them. And that limited are the only channel experience we could provide to our customers. It also makes it more difficult to maintain the whole system.
Now with the other experience platform, we have one common audit platform that everyone can use and that we can also extend into new channels like social media or our advisory, our contact center.
The previous tool was designed for mass communication. So as you can imagine, we had to build many things to try to operate with the channel we had. And it was mainly focused on one-time send outs with limited personalization capabilities.
Now we see an improved automation on all the activities that we can do, and we have much more personalization capabilities.
Yeah. On top of that some of the issues with the previous tools was that we actually because of the complicated setup, we needed quite many roles to build and launch a campaign. And that also meant quite long lead time to market. So with the new tool, it's easier to use, and we don't really need multiple roles on launching campaigns. So we can get faster new things out towards our customers.
Also, when we're looking at the, of course, onboarding new colleagues, whether it's in the business side or development of this tool, previously, it was quite a big effort to actually onboard new colleagues to learn how to use the tool and how to develop the tool. And now we're quite happy that the onboarding is a lot easier when you have easy-to-operate platform, and we can get new colleagues up and running faster.
We would like to share with you some of the highlights of our migration journey. We started the initiative some years ago, and as part of moving to a Cloud Solution, this required us to ensure full readiness to live up to the expectations that our customers have on us while managing the data in a safe and trusted way.
We decided to roll out channel by channel, having our old and new solutions running at the same time and migrating hundreds of campaigns across all Nordic countries and securing continuity of all communications towards our customers as part of the project.
You can see we started with email in the first quarter of 2023, and then we followed by our mobile applications, our NetBank, and our contact center.
Last year, we also enabled new channels such as Facebook and Instagram using integration with Meta and SMS bringing as well, at least, towards our advisers.
Now all countries are able to leverage these channels as part of their activities. As an added benefit, we have been able to decommission our legacy platforms.
Yes. And during this project, of course, we invested a lot of times in training our people. And today, we have dozens of users using AEP on a daily basis.
One of the-- If you look at the ways of working space, one of the things that we also changed during this process was moving from one off campaigns to always on conversations. So today, we have around 90% of all the communications that we have running are always on.
And that, of course, means that we don't need to manually do send outs.
In this process, we also onboarded both private and corporate segments into the same platform. So we're able to use this tool across the bank, which is a great benefit for us as well.
We have some learning areas that we're presenting now as part of the project that we are categorizing three. First one is on data. Our previous marketing platform was on premise. We were using data stored in relation of databases.
Transitioning from them to XDM schemas has been a big change for us, and it has required us to take some steps back and rethink our use cases and how is data going to be used to deliver them.
Giving our users more granular data with user-friendly names and descriptions has been highlighted by them as a big improvement in their work.
And for us, it's a very important factor when building improved audiences and providing personalized content towards our customers.
The second area is on the guardrails. The platform guardrails have become a natural part of our day-to-day activities, both in terms of how do we continue doing development in the platform but also on how should the users create and maintain all communications towards our customers.
When we started, not being fully aware of the implications of the guardrails to the suboptimal decisions. It is therefore very important to proactively align your architecture, integrations, and ways of working of all the users, both the end users and the development teams to the guardrails in the platform, while still providing them some flexibility as part of their daily work.
Our last learning area is to always prioritize building all integrations using out of the box solutions provided by Adobe Experience platform. We started the development work in Adobe Journey Optimizer before new channels and integration were made available in journeys. As an example, our integrations toward mobile and NetBank channels were done before the journeys had similar capabilities that are available today.
Capabilities that could potentially fit our channel integrations.
It was a lengthy process as we had to figure out how can we make this integration ourselves, building a new custom solution. So we have to invest a lot of time designing a solution and understanding how our end users should leverage those channels as part of their activities, which is something that we'll be addressing in the future so we can fully orchestrate across all our channels, for example, as part of Journeys.
For some internal solutions, we will, of course, need to continue doing custom developments, but we have seen clearly a much shorter time to market when using out-of-the-box possibilities. As an example, we enabled SMS in a matter of months, which has never seen on our side, and we think that this will also make us better prepared for how Adobe Experience Platform continues developing in the coming years.
Yes. So we have quite ambitious roadmap ahead of us to enable real hyper-personalization. And now we have taken the first step to be able to scale up by modernizing our marketing automation tool. But then going forward, we are looking into adding more channels into the mix and also enabling true seamless cross-channel orchestration. We're also looking into increasing the number of real-time data to be used so that we can be even more relevant and accurate, well timed with our communications. And lastly, of course, leveraging AI whether it's connected to the content creation or other parts of the area.
And we're really glad that we have taken the first step towards our vision by modernizing our marketing automation tools, and we're really also excited about the journey ahead what we still need to develop to be truly hyper-personalized and enable personalized advice to our customers.
We would like to thank you for listening in to our recording. We hope it was relevant for you and that you can hopefully get some learnings out of it if you're also starting this journey ahead.
Thank you for your time. We very much appreciate it.
Enjoy the Summit. Thank you. Bye. [Music]
