• Save
Opportunities for Entrepreneurs in Financial Services
Upcoming SlideShare
Loading in...5

Opportunities for Entrepreneurs in Financial Services






Total Views
Views on SlideShare
Embed Views



0 Embeds 0

No embeds


Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
Post Comment
Edit your comment

    Opportunities for Entrepreneurs in Financial Services Opportunities for Entrepreneurs in Financial Services Presentation Transcript

    • Opportunities for Entrepreneurs in Financial Services
      What’s On The Horizon?
      Where Are the Entrepreneurial Opportunities?
      A hypothetical conversation about opportunities for the entrepreneur in the banking sector.
    • What Does the Macro Banking Environment Look Like In The Next Five Years Or So?
      Equities Perform “OK” -- In high single digits.
      Recessions more frequent – closer to historical norms.
      Healthcare, Energy and IT are economic drivers.
      The dollar becomes less “the standard.”
      Interest rates rise steadily – to inflation concern from deflation.
      “Protectionist” trends increase trade conflict. (Outsourcing)
      World growth comes from emerging markets.
      China continues its ascendancy.
      Economists will continue to predict the obvious and miss the actual. Will predict nine of the next six recessions.
      Henry H. Doss, EIR, T2VC
    • So What?
      Henry H. Doss, EIR, T2VC
      Banking is the second largest market, behind government. It is open to innovative development, but oftentimes a bit opaque. Here are a few potential “strategic implications” for the entrepreneur, that we might derive from the macro view.
      There are hundreds of different strategic lenses through which opportunities could be viewed. This is just one.
    • The Financial Services ConsumerMight Be Looking For . . .
      Henry H. Doss, EIR, T2VC
      Information: Support decision making and planning.
      Competitive products: Feature, Price, “Novelty”
      Personalized: Everything
      Control: Security, Access, Customization
      My Way: And My When, My How, My Device.
      Ease of access: Fast, Faster, Fastest
      Everything “linked”: Banking, Social Media, Payment, Etc
    • The Financial Services Company Might Focus On . . .
      Henry H. Doss, EIR, T2VC
      Cost control: ROI; Profitability Impact; Etc
      Fixed Cost: Outsourcing; near sourcing.
      Profitability: “Performing relationships.”
      Efficiency: Everywhere
      Marketing Edge: Insight, Data, Targeting. Differentiation.
      ROI on Tech Investment: Mysterious.
      Compliance: More and More “Tech-Driven.” Maybe.
    • Some “Areas To Watch” --Or --“A Blinding Glimpse of The Obvious”
      Mobile Apps
      Not Just Mobile Channel
      But, Specifically, Mobile Apps (iPhone 5 = “iWallet”)
      Outsourcing (Or, Nearsourcing, Closer to Home?)
      PFM (Personal Financial Management)
      Think “Mint”
      Think “Big Picture” for Individual
      Think Aggregation
      Social Media
      A big puzzle for banks
      Social Media/CRM “Merger”
      The Cloud – Of Course
      Data Analysis, Insight, and “Real” Data Mining
      Collaboration Tools, Internal and For Customers
      Henry H. Doss, EIR, T2VC
    • So, Where To Focus
      Banking – Like All Business – Will Be In A State of Flux
      Bankers Are Often Second Adopters . . . Or Third . . . Or . . .
      But . . .
      Efficiency and Cost Issues Will “Push” Innovative Technologies
      Tactical Risk Appetite May Increase
      Strategic Competitive Advantage Will Sell
      Henry H. Doss, EIR, T2VC
      As a working hypothesis, assume three primary technology areas of emphasis for development/entrepreneurial opportunity spaces:
    • Henry H. Doss, EIR, T2VC
    • Mobile
      Mobile Products Will “Rule”
      “Mobile App Stores” Within Bank Hierarchy
      Multiple choices, across multiple devices, across multiple platforms.
      The Device “Is” The Bank
      Henry H. Doss, EIR, T2VC
      In a sense, mobile banking is the fulfillment of “branchless banking” . . . Or at least it could be. As devices and apps become more ubiquitous and more complete in offerings, the device and the app become the portal for building relationships . . . Which has enormous implications for . . .
    • Data Analysis
      Data Mining Has Lagged In Effective Deployment
      The Technology Has Always (Nearly) Been Ahead of the Strategy
      Issue Was “What Can We Know” vs “How Can We Use Insight”
      Analytics More “Market Issue” Than Technical
      Target Marketing/Messaging
      Product Development/Pricing
      Understand Customer Across Multiple Inputs (Financial/Social)
      Henry H. Doss, EIR, T2VC
      Data mining (in banking) has been “under-delivered” for many years. This has largely been driven by poor strategy, rather than poor technology. User interfaces and platforms that can drive effective use of insight technologies could be significant . . . Which has enormous implications for . . .
    • The Cloud
      PaaS -- Platform
      DaaS -- Database
      SaaS – Software
      Cost Allocation/Tracking
      Scalability, Elasticity
      Switch from Tactical To Strategic Focus In IT
      Henry H. Doss, EIR, T2VC
      As much as anything, the growth of cloud computing seems certain, in spite of security concerns and occasional reliability issues. (Amazon.)
    • Henry H. Doss, EIR, T2VC
      So, how can entrepreneurs find the best “opportunities” to develop technology (and other) solutions for the banking sector?
      Said differently, how can the entrepreneur focus strategic thinking to develop and evaluate entry into the banking world?
    • Look for Opportunities . . .
      Henry H. Doss, EIR, T2VC
      . . . That leverage data analysis and insight, on mobile platforms via mobile applications, residing in the cloud.
    • Henry H. Doss, EIR, T2VC
      Play Here!
    • Henry H. Doss, EIR, T2VC
    • Thank You!
      Henry H. Doss, EIR, T2VC
      Henry H. Doss, Executive-in-Residence
      1+ 336 489 0053
      Once-upon-a-time retired, former banker, oftentimes rock guitarist/composer, sort-of data geek, serial “attempter” at multiple adventures, master meeting/conversation facilitator, won-some/lost-some, been there/done that, community leader/volunteer, idea-generator.