wizzio onboarding CASE STUDY Banco Millennium Atlântico SUMMARY NOVABASE 2018 All Rights Reserved.

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1 wizzio onboarding CASE STUDY Banco Millennium Atlântico SUMMARY Banco Millennium Atlântico is a bank based in Angola that was created after merging Banco Privado Atlântico with Banco Millennium Angola. For his impending 1st anniversary, Atlântico wanted to launch a new branch concept with a futuristic approach, in order to stand out from their competitors and surprise costumers and the general public with a completely new banking experience. Atlântico s Marketing Department created a brand new, futuristic concept, which required an innovative interface, as well as technical solutions that would fit this new concept. Angola has a very young population, with a relatively low average age. The population is open to new Technologies, including everything related to software development, new technologies and devices, so it is a perfect growing market. Ivo Vilhena, Atlântico s Digital Banking & Innovation Sub-Director

2 CHALLENGE Atlântico challenged Novabase to create a new fully digital account opening experience for this new branch, which should be more engaging for customers and increase the process efficiency along the way. LOCATION This brand new branch would be located in a special location: the recently inaugurated largest shopping mall in Angola called Xyami Shopping. SCHEDULE By being inside a shopping center, the branch had to be open beyond regular working hours and 7 days per week. HIGH EXPECTATIONS This solution simplifies our customers first contact with the bank, and will have a major impact, setting the tone for new relationships. Furthermore, the solution is in line with our commitment to innovation, while always focusing on our customers real needs, which we always want to meet. António Assis Almeida, Vice Chairman of Banco Millennium Atlântico s Executive Committee

3 SOLUTION 1 Wizzio s Onboarding solution allows the user to follow the bank onboarding process in a simple way. It includes accelerators such as Optical character recognition for filling out the forms, required for opening an account and associate new products. 3 Wizzio s solution for Atlântico s Xyami branch was built so the bank can use it as an independent testing ground for new features and as a pilot site before extending them to all the branches. 2 By providing features like digital documentation and signature, Wizzio saves the account manager s time by cutting of paperwork and bureaucracy. 4 The integration with the bank s systems centered all client information in backend at one single place. This allows to reduce inconsistency, improves document validation and speeds up accounts and cards activation. The competitive advantage of Wizzio Onboarding is to be able to give the customer a great experience and better quality, in a very short timeframe, with less bureaucracy, and always in compliance with banking regulations Gonçalo Miranda, Atlântico s Technical Coordinator

4 RESULTS 50% less time than what it took to open an account 30 to 40 Accounts open every day before, it took up to 2 days for it to be active 2 to 3 Minutes to assign and activate a new debit card With Wizzio, opening an account became a much faster process, in which the customer enters the bank and after 7 to 10 minutes he leaves it with an account open and an active debit card, ready to use. In this moment having a process to open an account from front end to back end in 10 minutes is a differentiating factor and this is a reason why it is a success Ivo Vilhena, Atlântico s Digital Banking & Innovation Sub-Director This branch is opening 3 times more accounts, almost 4, than a regular branch. Previously, it took 14 to 20 minutes, nowadays it takes 7 to 10 minutes. Efigénia Tonha, Atlântico s Marketing Director The process itself optimizes the branch s process and increases the quality of the data, centralizing the customers information. Our previous process required printing, signing and scanning 4 to 6 sheets of paper. If there was a mistake while signing, we had to do it all over again. Now if there is a mistake we undo the signature and just repeat that step. Nuno Cardoso, Xyami Branch Manager We ve removed the paperwork from the process. Currently, all the documents and digital signatures can be immediately associated with the client Gonçalo Miranda, Atlântico s Technical Coordinator

5 more than new customers in 10 months just for this branch more than 20 branches using Wizzio Onboarding after an early roll out The branch launch had great response from the general public and customers. Being the first bank from the DIGITAL AGE here in Angola had a huge impact in our visitors. Our existing costumers were pleased to experience a new reality and to be part of the Bank s evolution; for the new costumers, this new onboarding process provided an experience that they would not have in other banks. Nuno Cardoso, Xyami Branch Manager Atlântico anticipated the date for the rollout phase of Wizzio OnBoarding on other branches. Wizzio is currently working in more than 20 Atlântico branches. We reduced the SLA drastically. We had a roll out plan to gradually take this process to other branches, but we had to speed it up to respond to client demand Silvio Ferreira, Atlântico s Digital Banking & Innovation Sub-Director In 2017 we have rolled out Wizzio on 20 branch locations and we re certain that in 2018 we will roll it out for all Atlântico s branches. Ivo Vilhena, Atlântico s Digital Banking & Innovation Sub-Director

6 less than 20 minutes to use without any previous training The intuitive interface reduces the amount of training required. I was surprised by the short time it took the branch colleagues to learn the new front-end interface, it was very intuitive and that made a big difference. Efigénia Tonha, Atlântico s Marketing Director Wizzio Onboarding is very intuitive and all colleagues were surprised by how intuitive it was, it has no secrets, you just follow what s on-screen. Anyone without any training would find out how to use it in less than 20 minutes. So, it was quite simple and clear to explain it to my colleagues. Nuno Cardoso, Xyami Branch Manager Reducing the amount of paper and making the signature process digital also makes the process more eco-friendly. Behind this paperless concept, there is also the concern with environmental awareness. This is an innovative idea we want our clients to be conscious of, too. Ivo Vilhena, Atlântico s Digital Banking & Innovation Sub-Director

7 More than just a product, it is support and commitment We were fortunate to always have had someone onsite supporting us and attending status meetings. Even when we needed remote assistance, there was always someone available from Novabase s Wizzio team. I believe this was one of the secrets for all the success the project has been having. Silvio Ferreira, Atlântico s Digital Banking & Innovation Sub-Director Our idea was to ask for the impossible, and Novabase rose up to the challenge. They showed commitment from the start. By coming to Luanda, they helped the final delivery, so I would say their responsiveness was great, really great Efigénia Tonha, Atlântico s Marketing Director 2 months for Wizzio to Go Live

8 FINAL THOUGHTS Would you recommend Wizzio to other banks? What we accomplished with Novabase places Atlântico ahead in the Digital Bank Transformation in Angola. This was a project I really enjoyed being part of. I surely would recommend Wizzio. Efigénia Tonha, Atlântico s Marketing Director Well, I would like to maintain an advantage in our geography But of course, I would recommend it. It brings a lot of advantages: the swiftness, the cost reduction and the attraction factor it raises for our customers. They really like to see and work with something more digital, ahead of what is available at the moment, they feel very comfortable with that. It is obvious that choosing to not go with this kind of technology is being behind everyone else. Nuno Cardoso, Xyami Branch Manager Would you hire Novabase again? Definitely, the experience was good, the product is good, I ve nothing more to add. Gonçalo Miranda, Atlântico s Technical Coordinator