Capital One 2013 Annual Report Download - page 9

7
Into the Forefront of Digital Banking
Banking is fundamentally a digital product and is ripe to be dramatically
transformed. In 2013, we made great progress toward becoming a
digital company.
We have been attracting great “digitally native” talent and in 2013 added
many new associates from digital startups and leading digital companies to
our digital group. We expanded our digital labs in Clarendon, VA, and
San Francisco, CA, and recently added a digital lab in New York City.
We are developing new approaches to product development and delivery
such as design thinking, rapid prototyping, continuous technology integration,
real-time analytical tools, and big-data infrastructure. In 2013, these seeds
began to take root across the company and are helping us to work more like a
technology company than a traditional bank.
We continued to drive our customers to digital. About 75% of Capital One
customer interactions are already digital, and that number continues to grow.
We have made it substantially easier for customers to shop and apply with
mobile. We delivered new digital enrollment and card activation experiences,
and we are increasingly migrating customers to more digital servicing. We
have also seen continued growth in customer adoption of mobile servicing in
all of our businesses.
Bringing Ingenuity, Simplicity,
and Humanity to Banking
We continued to deliver great flagship products and distinctive
marketing in 2013. Venture remains a premier travel credit
card in the marketplace, with double rewards, no earn limits,
and no blackout days. Spark Unlimited CheckingSM for small
businesses, launched in July, was recently named the best
small business checking account by Money magazine. We
also introduced our new cash-back card, Quicksilver, in
2013. Quicksilver is a compelling, simple product offering
1.5% cash back on every purchase with no limits and
no category games. The integrated marketing launch of
Quicksilver was the largest in our history and cut across
With Spark Pay®, we have
another way to help business
owners realize the unlimited
potential of their business.
It’s more than a secure,
convenient way to accept
payments. It’s a complete
service that works behind
the scenes to help business
owners track sales, manage
inventory, and offer special
deals to their best customers.
SureSwipeSM is a safe, secure,
and quick way for customers to
access their card accounts by
simply drawing a pattern rather
than typing in a password.