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Fiserv takes on the E-billing Market

Fiserv - Group 4D
by

K Glee

on 11 June 2014

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Transcript of Fiserv takes on the E-billing Market

Who is Fiserv?
Leader in Electronic Bill Payment

Leader in U.S. Internet Banking Service Provider

Leader in Presentment Services

Consumer Usage of Bill Payment & E-Billing
WHAT'S THE PROBLEM?
Current Financial
Revenue $4.74 billion
Product-based business model
Direct & Indirect Customers
SEGMENTING

Indirect Customers
Households Online = 86 million EBP
Positioning
Further establish Fiserv as a provider of user-friendly technologies
Alternative #1: Status Quo
Television Commercial Roll-out
To consumers of E-Billing benefits & features
GOAL!
Fiserv's road to the E-billing Market
BY: Kelly Bowland
Knigi Glee
Megan Ingols
Bill Thomas

Consumers lack education on the function of E-Billing

Consumers are unaware of the features and benefits
The Bump in the Road
Symptoms...
Less than 20% of 86 million online users regularly view bill electronically
*Limited financial information
FISERV
Provides E-billing & E-bill
payment services
BANKS
Pay Fiserv for
technology & tech.
mgmt.
End Consumer
View/pay bills online via
Bank's/Billers website

Billers
Pay Fisev for
# of E-bills viewed
& # of stopped
paper bills
Target
Objective
Determinant Attributes
Billers
1. Financial Savings
45% saved per bill

2. Increased Customer Satisfaction
Up to $4 per consumer annually

3. Better Environmental Practices
Saved 753 trees per 130k consumers
Reduced greenhouse gas & water usage
Consumers
1. Convenience of Receiving Bills

2. Greater Security

Increase Premier Position

Play a role in the entire "round-trip"

"Incoming" interactions, receive bills online

"Outgoing" interactions, pay bill electronically
Primary Demand Gap
Competitors
Information not provided
Continually redefine strategies based on consumer wants & needs
Consumer Behavior Research
1. Increase knowledge of benefits
2. Gains viewer attention
3. Peak consumer interest for more information
1. Not segmenting consumer
2. Brand confusion
3. Cost of commercial
Alternative #3: Market Penetration
$5 incentive
Banks/Billers offer to consumers
Alternative #2: Status Quo
Employee performance incentive
Customer service reps inform consumers
1. Directly targets consumer
2. Increases consumer willingness
3. Faster adoption turn-over
Pros
Cons
1. Cost of incentive

Proposed Alternative
Pros
Alternative #1: Status Quo
Cons
Alternative #2: Status Quo
Employee performance incentive
Customer service reps inform consumers
1. Low cost
2. Direct contact with consumer
3. Hands-on approach
1. Not inclusive of all consumers
2. Slow adoption
Cons
Pros
Television Commercial Roll-out
To consumers of E-Billing benefits & features
$5 incentive
Banks/Billers offer to consumers
Alternative #3: Market Penetration
Target Breakdown
Net Income $537 million
Market Attractiveness
*EBP = Electronic Bill Payment
Consumer Cost
Source: Strategic Marketing Problems, page 86,Exhibit 2
Source: Strategic Marketing Problems, page 84, Exhibit 1
Consumer Cost
Consumer Cost
Potential Market Revenue
Potential Market Revenue
Potential Market Revenue
Plan...
Fiserv Background
Problem & Symptom
Target & Market Segmentation
Positioning
Cost
Potential Revenue
Full transcript