In my world, my data follows meMyWave′s vision is for an online world where individuals have control and ownership of their data and have the power to choose and create 'segment of one' personal relationships based on Mutual Value.
Latest NewsBank of New Zealand and parent company National Australia Bank are trying to steer a steady path through waves of technological disruption. This Sunday Star Times innovation series article looks at the team, which includes MyWave CEO and NAB Director Geraldine McBride, tackling the banking tech challenge. >>> Read More
18 March 2015
Seeing is believing
By Amy Johnson, MyWave CXO
MyWave’s latest Frank in Banking and Finance video shows how a bank can leverage its multi-sided network of partners as well as its own services to deliver a completely revolutionary personalised experience for customers.
The MyWave Consumer Vision
MyWave puts the customer at the controls
MyWave’s vision is for an online world where individuals have control and ownership of their data and have the power to choose and create ‘segment of one’ personal relationships based on Mutual Value.
That means giving people the power to gather, control and use their data in one place; to see where they have been, what they have been doing and plan for what they want to do. It means giving individuals new ways to engage – not only with companies and people, but with the things they own or aspire to, or are interested in. Conversely, it means giving individuals the power to filter out the products and services and other personal and business clutter that wastes their time and energy.
The data an individual generates describes who they are and what they do – up to a point. Typically, that data is held in enterprise company databases. It ages, is incomplete and is stored and used in ways designed to push products and services. But if individual customer data could be accurate, up to date, and – most important – be used with the individual’s personal ownership and permission, then that data can become alive and help individuals and enterprises build a highly personalised mutual value relationship.
MyWave personal clouds make data come alive
Take, for example, one category of personal data – physical fitness. Today fitness data is harvested by many different devices and stored in many different corporate silos. The MyWave personal cloud will look at all your fitness activity and diet data and give a single combined view on your own dashboard to help you drive the quickest and straightest route to your goals. You could, through opt-in, share that data with your health insurer or life insurer and gain better premiums and an easier way to update and engage with your insurer creating a far better customer experience. With your permission, your insurer can use your data, that you own and maintain to customise other insurance services and products that suit your changing needs.
You, the customer, own your data and share it at your discretion with companies with whom you want to build a mutual value relationship.
Using MyWave’s CloudBind, companies can also create clouds for their individual products. For example, if you buy a new mountain bike it can be accompanied by its own personal cloud that you can access and customise to make it personal to you. These clouds would be unique to each unit and tied to serial numbers. These unique identification codes can be read by any mobile device. Any data the enterprise wishes to include such as operating manuals, warranties, URLs for firmware, product recalls and other updates for live interactions can be included with the products’ own cloud.
MyWave’s Customer Managed Relationship platform for enterprises, linked to its personal cloud applications for individuals, products and enterprises, lays the building blocks for a whole new world of online participation.
Your ‘things’ can also have clouds – MyWave puts the individual at the controls
The MyWave vision is of a world where the customer is firmly at the controls, managing their own data and choosing the products, the organisations, the companies, the people, and the physical ‘things’ they want in their online life.
What is MyWave? - Video
MyWave is your personal assistant that connects you to the brands you love. Whether it’s your bank, power company or favourite shoe shop, MyWave ensures they offer you things you really want. Watch this video for a quick overview…
Really putting customers at the centre of the relationship
MyWave was founded in 2013 by former SAP North America President Geraldine McBride as a first-mover business leading a fundamental shift in the way companies and people communicate and do business together online. It operates in a category of business activity known as VRM, or vendor relationship management.
The MyWave capability includes the technology platform itself, together with services to help enterprises re-imagine and redesign their next-generation digital and in-store customer experiences, including social/digital marketing products and services. MyWave CMR technology platform – CMR turns CRM on its head by putting the customer in control of getting those personalised experiences anytime, anywhere, on any device. The MyWave CMR Platform is constructed so that the customer owns their data. This removes privacy concerns and allows your business to build trust, advocacy and mutual value in each exchange.
MyWave Customer Experience Consulting Services – customer experience design experts who help businesses re-imagine customer experiences through the lens of the customer, moving business from the old push-based transaction model into a personalised model where great, sticky, personalised customer experiences that can’t be duplicated keep customers coming back for more.
MyWave CMR provides the end customer with a channel to communicate their preferences, intent, support issues and other vital data. It’s a secure, fully customisable SaaS personal cloud-based offering. Companies using MyWave CMR can use the unique, personal channel to communicate to the customer with relevant offers and new services in a relationship of Mutual Value.
MyWave CMR enables:
▶ Direct customer relationships – no more stalking or inferring. A real and direct, two-way permission-based customer relationship based on unique personal data
▶ Personalisation of experience and content on any device, anywhere
▶ Direct real-time virtual service to customers, improving experience and reducing the cost to serve
▶ Deep insight into customer needs for recommendations
▶ Redefining loyalty programs to reward advocacy and engagement.
MyWave CMR use cases
A typical TV company today does not know much about their customer beyond the billing address, the bundle they are paying for and how many and what kind of set-top boxes they have supplied. It’s a traditional push transaction broadcast business model. With MyWave CMR, the customer can share their viewing preferences with their TV company as to their favorite genres, and create social sign-in, social sharing, and social viewing with their friends and family on any device. The customer can pull entertainment content relevant to them, at any time. The TV company can promote recommendations relevant to the customer’s preferences, adding further to the positive experience and engagement as well as revenue growth.
A typical airline. Although airlines know customers will pay a premium for personalised service, they struggle to leverage the limited and soon outdated information collected via frequent flyer programs. With MyWave CMR, the customer owns the data and shares with the airline their needs, wants and preferences. This could be their seat preferences; entertainment preferences; concierge service requirements for travellers visiting holiday or business destinations; baggage being taken direct to the customer’s hotel, versus standing at a carousel; special fast-track services, versus standing in long lines. Flying does not have to be endured, it can be enjoyed – and customers are prepared to pay a premium for that, if only airlines knew what their customers wanted. MyWave CMR enables direct customer-managed relationships powered by personal cloud technology and mobile device apps to create great customer experiences because airlines can KNOW what their customers want.
FOR MORE INFORMATION
Prospective customers, partners and investors can email Geraldine McBride at email@example.com