BBVA Innovation Edge. Social Business (English)
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Early social business pioneers are reporting positive benefits as they begin to confirm the opportunities promised by social technologies. In this issue we sum up the best social business case study ...

Early social business pioneers are reporting positive benefits as they begin to confirm the opportunities promised by social technologies. In this issue we sum up the best social business case study and we analyze future opportunities around it.

'BBVA InnovationEdge' is the first corporate multiplatform magazine focused on innovation. Each edition featuresarticles, analysis and huge information about a particular theme. The mainpurpose of the magazine is to express the new trends and the upcomingtechnologies that may impact to the financial industry.

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BBVA Innovation Edge. Social Business (English) Document Transcript

  • 1. MARCH 2013 5Social also in thisBusinessSocial networks and business issue Trending issues Technology trendsoutcomes: The search for valueThe “social” trendSocial business is bloomingBusiness model view
  • 2. contents The Social Trend....................................................................................4 Social Business is Blooming...................................................17 Business Model View....................................................................24 Global Snapshots.............................................................................. 34 BBVA & Social Business............................................................. 42 Innovation Forecast....................................................................... 45 In Depth.......................................................................................................50 Sections.........................................................................................................52 Trending Issues..............................................................................52 Technology Trends..................................................................59 Social Business & Banking event................................... 63 BBVA Invest in innovation......................................................64 Credits............................................................................................................66 March 2013 | SOCIAL BUSINESS 03
  • 3. The social Some say that we, humans, have always been social. The rise of social technologies enables people to finally fulfill their innate desire to become more connected to one another. The possibility of managing the positive trend effects of social networks is upon us. The first wave of social technologies has firmly been planted in everyday experiences in both developed and developing economies. The world is rapidly becoming social and businesses need to be prepared.04
  • 4. Thesocial trend / figures Improved communication and collaboration through social technologies could raise productivity of knowledge workers by 20 to 25 percent Each week, Global knowledge worker spend sector Top value levers: 28 hours revenue: 70% of companies $6.6 Marketing and sales Social technology are using social trillion (value potential up value technologies writing emails, searching per year. to 24%) and potential: for information, and collaborating customer $256-423 service billion (value potential up annually. to 26%). 90% of companies using social technologies report some benefits Source: McKinsey Global Institute | The Social Economy: Unlocking value and productivity through social technologies, July 2012.06 March 2013 | SOCIAL BUSINESS 07
  • 5. The Thesocial trend / social media and banks social trend / social technologiesBanks rely on Facebook than any other social media platforms (or at Gartner Hype Cycle for Social Software 2012 covers broad categoriesleast it’s where people search for banks in social media), followed by of social technologies: communication, conversation, or collaborativeYouTube and Twitter. For the short term, it makes sense for banks to work software; and software that helps to search, filter, and analyzefocus on socially orientated customers via Facebook and YouTube than social content.any other platform, while keeping an eye on upcoming platforms. Social AnalyticsINTEREST OVER TIME Social Software Social Network Analysis Social Commerce Mobile Collaboration ClientThe number 100 represents the peak search volume Gamification Enterprise Internet Reputation Manegement Cloud Collaboration Services Content Analytics Enterprise File Sharing Social Media Metrics Activity StreamsSearch terms Social Content Social Expertise Location and Management Content Cloud Synchronization Social Learning Platform Social Media Distribution Simultaneous Co-Editing Tools Social TV Security Applications Social Media Monitors Expectations Embedded in Social Media Social BPMbank facebook x bank youtube x bank twitter x bank pinterest x Automatic Content Recognitiont No -Email Initiatives Social Profiles External Community Platforms Mobile Social Networks MDM and Social Data Mass Collaboration Idea Management100 Customer-Centric Web Strategies Persona Management Internal Community Platforms80 Social Media Engagement Tools Personal Subscriptions Social Software Suites6040 Technology Peak of Trough of Slope of Enlightenment Plateau of Trigger Inflated Disillusionment Productivity20 Expectations Time January 2009 January 2010 January 2011 January 2012 Average Less than 2 years 2-5 years 5-10 years Obsolete before plateauSource: Google Trends | December 2012. Inspired by Financial Brand | Google Trends Reveal Source: Gartner | Hype Cycle for Social Software 2012, July 2012.Banking Insights, Social Media Zeitgeist, October 2012.08 March 2013 | SOCIAL BUSINESS 09
  • 6. Thesocial trend / usage usersKey Players Smartphone Users Smart Phone Users Facebook On your cell phone, do you regulary... Twitter Google+ Weibo RenRen Linkedin Baboo Instagram Yelp Tumblr Flickr Orkut Ranking the Key Players MySpace From established players to red-hot phenoms, Foursquare here is a look at how leading social media sites Based on those who own a cell phone Pintrest shake out in terms of userbase. and regulary use the internet on their phone.SoundCloud Pakistan not shown due to sample size. XING Source: PEW RESEARCH CENTER Q81e-h. Friendster Path Smartphones & young people Source: http://blog.tweetsmarter.com Get Glue Smart Phone Users On your cell phone, do you regulary...Social NetworkingSocial Networking: Sharing Views on Musicand Movies Most PopularDo you ever use social networking sites tosharew your views about...? Music and Community Sports Politics Religion movies issues Based on those who use social networking sites. Median % across 20 countries. Pakistan not included in calculation of median due to sample size. Based on those who own a cell phone. Source: PEW RESEARCH CENTER Q81e-h.10 March 2013 | SOCIAL BUSINESS 11
  • 7. Thesocial trend / usersDo you use social networking sites? Young people & social networking Do you use social networking sites? Young much more likely to use social networking Do you ever use social networking % that use social networking (based on total) sites to share your views about...?*Respondents who do not use the Source: PEW RESEARCH CENTER Q77&Q79.internet. Based on total sample.“Don´t know/Refused” not shown.Source: PEW RESEARCH CENTER Q77&Q79.12 March 2013 | SOCIAL BUSINESS 13
  • 8. Thesocial trend / business modelsbenefits of social business includes: 9. Use social technologies to improve intra- or inter- 10. Use social 6. Generate technology to and foster organizational collaboration and communication match talent sales lead 7. Social 4. Derive to tasks commerce customer 2. Leverage insights 10 social to forecast and monitor 5. Use social 8. Provide 09 technologies for customer marketing and care via social 08 communication/ technologies 3. Use social interaction to distribute 07 1. Co-create business products processes 06 05 04 03 02 01 Source: McKinsey Global Institute |The social economy: Unlocking value and productivity through social technologies, July 2012.14 March 2013 | SOCIAL BUSINESS 15
  • 9. Thesocial trend / business models By mashing up social media, work media, social listening, social work, social intelligence, and other social technologies, companies will inno- vate their business models by maximizing efficiency and/or by creating value. The world is already social and businesses must also be social. See video Social Business is blooming Early social business pioneers are reporting positive benefits as they begin to confirm the opportunities promised by social technologies. Together with other key trends (mobile, cloud, and big data), social business is beginning to offer some really interesting value propositions.16 March 2013 | SOCIAL BUSINESS 17
  • 10. Social Business, Social Business,the next social trending higher 100 80Make room for social business! According Social business is currently a “top of mind”to Forrester, social business software will 60 issue. It is forecasted that this trend will hit itsexplode into a $6.4 billion business by 2016, historical high in the latter part of 2013. Wegrowing from $600 million in 2010. 40 should continue to expect social business to be actively discussed for the short term 20 future, making further inroads in the c-suite. 0 AverageINTEREST OVER TIME INTEREST OVER TIMEThe number 100 represents the peak search volume The number 100 represents the peak search volumesocial media social business social listening social intelligence 100 110 80 88 60 66 40 44 20 22 0 0 January 2009 January 2010 January 2011 January 2012 2005 2007 2009 2011 2013Sources: Forrester | Social Enterprise Apps Redefine Collaboration, Source:November 2011. Google Trends | December 2012.Google Trends | December 2012.18 March 2013 | SOCIAL BUSINESS 19
  • 11. Social Business, a c-suite view Social Business,CEOs are getting very interested in social business,almost 2x that of CIOs and CFOs towards a definition Other C-level According to industry pundits, successful social to-customer engagement, employee-to-employee executive business initiatives need to be holistic, as they are collaboration, or supply chain optimization. Making CEO / focused on President / social business work requires focus on a company’s Managing director social media much more than just technology issues. Getting serious about social business requires a re-think culture, connections, content exchanges, and about business outcomes and the social nature of measurement and analytics.” Other C-level people, melding together technology, culture, and 28% CEO / CIO / 29% executive Treasurer / Technology or equivalent values. Here are two definitions of social business IBM Comptroller Director from leading companies. 14% 15% 17% “We define social business as embedding social DACHIS tools, media, and practices into the ongoing activities of the organization. Social business “Social business draws on trends in technology (e.g., enables individuals to connect and sharebeginning to spread out powerful mobile devices, widespread availability information and insights more effectively with of high-speed Internet access, low cost of data others, both inside and outside the organization.to other industries storage), work (e.g., always-on culture, globalization), Social business tools facilitate engagement in and society (e.g., propensity to share). Companies extensive discussions with employees, customers,FIGURE 1 BY INDUSTRY should care about social business because they can business partners and other stakeholders and improve business outcomes ... The core principles allow sharing of resources, skills and knowledgeTHE IMPORTANCE OF SOCIAL SOFTWARE Entertainment, 37% Media and Publishing touch on all areas of a business, whether for business- to drive business outcomes.”The importance of social software is IT and Technology 29%expected to rise by 250% within 3 years. Telecommunications / 23% Communications Education 23% Professional Services 19% 63% Consumer Goods 17% 40% Govemment / Public Sector 14% Other 14% 18% Healthcare Services 14% Today One year Three years Financial Services 10% from today from today Manufacturing 9% Sources:Source: Dachis Group.MIT Sloan Management Review & Deloitte | Social Business: What Are Energy and Utilities 7% IBM Institute for Business Value | Business of Social Business:Companies Really Doing? 2012. What works and how it’s done, November 2012.20 March 2013 | SOCIAL BUSINESS 21
  • 12. Social Business, @work Create valuedAn overall framework for applying social Business customer USES OF SOCIAL BUSINESS * experiences TODAY NEXT TWO YEARSENABLE THE SOCIAL ORGANIZATION■■ Measure results■■ Addressrisk Promote events/marketing campaigns■■ Manage the change Engage and listen. 71% 83%Source: Build the community.IBM Institute for Business Value | Business of Social Business: What works Generate sales leads and revenueand how it’s done, November 2012. Shift toward sales 51% and service. 74% Provide product and services support 46% 69% * Based on responses from individuals having personal Sell products directly to customers Accelerate USES OF SOCIAL BUSINESS * experience with customer- 35% TODAY NEXT TWO YEARS related social business innovation activities Global (n=599). 61%Capture new ideas Enable more effective internal collaboration Drive workforce USES OF SOCIAL BUSINESS * from anyone. 57% productivity and TODAY NEXT TWO YEARS 78% effectivenessUse internal Monitor customer comments for new ideascommunities 58%to innovate. 78% Increase knowledge Enable customer interactionEnable structured Obtain feedback from customers 39% transparencyinnovation efforts. 46% and velocity. 63% 73% Enable customers to submit plans/solutions Find and build expertise. Enable vendor/partner interaction 28% 40% Leverage capabilities 58% 68% beyond organizational* Based on responses from Enable more effective collaboration between partners/suppliers boundaries. Leverage external talent (e.g., crowdsourcing)individuals having personal 38% 24%experience with social * Based on responses from individualsinnovation activities (n=446). 72% having personal experience with 54% workforce-related social business activities Global (n=362).22 March 2013 | SOCIAL BUSINESS 23
  • 13. Business model view Looking at social business from a business model point of view may help further understand the benefits and challenges associated with this trend. In this section, we conceptually explore the opportunities and risks of social business.24 March 2013 | SOCIAL BUSINESS 25
  • 14. Businessmodel canvas: Key Partnerships Key Activities Value Propositions Customer Relationships Customer Segmentsthe pros Facilitate cross boundaryBenefits & Opportunities of so- collaboration. Identify expertise.cial software for business model Develop employee skills. Harness Marketing, branding & distibuted knowledge. Increase Discover reputation management.innovation mainly center aroundKey Activities. Additional benefits employee engagement. Improve emergingalso impact other building blocks opportunities. Customer service &of the business model, such as leadership effectiveness. audience management.Value Propositions and Customer Preserve institutional memory Innovation.Relationships. Engage and listen. Enable structured innovation efforts. Shift towards sales & service. Capture new ideas from anyone. Key Resources Channels Employee engagement with ext. parties. Internal Supplier & partner innovation Build the engagement. communities. community.Sources: MIT Sloan Management Review& Deloitte | Social Business: What AreCompanies Really Doing? 2012.IBM Institute for Business Value | Businessof Social Business: What works and how it’sdone, November 2012.Alex Osterwalder and Yves Pigneur | Cost Structure Revenue StreamsBusiness Model Generation, 2010.26 March 2013 | SOCIAL BUSINESS 27
  • 15. Leading the wayto social businessSales, marketing, customer service, IT, and productdevelopments (functional business areas) are the leadingusers of social software in business organizations. Adding it all upSource: MIT Sloan Management Review & Deloitte | (some initial numbers)Social Business: What Are Companies Really Doing? 2012. According to Social Business by Design, there are four A GREAT DEAL possible ways to think about ROI of Social Business: SOMEWHATTo what extent do each of the ■■ Revenue Creation DON’T KNOWfollowing functional areas Improved global sales processes (10% sales revenuedrive the use of social software NOT VERY MUCH increase)within your organization? NOT AT ALL Increased customer satisfaction (30% higher) & re- tention (20% higher loyalty)MARKETING 47 % 26 % 9% 8% 10 % ■■ Connected CultureSALES More rapid new-hire ramp-up (35% increase in ac- 30 % 29 % 9% 14 % 18 % cess of expertise)CUSTOMER SERVICE Quicker location of expertise (30% faster access to 29 % 28 % 10 % 15 % 18 % expertise)INFORMATION TECHNOLOGY Improved connections between departments and 28 % 32 % 8% 16 % 16 % internal teams (35% increase in collaboration andPRODUCT DEVELOPMENT 20% reduction in communication costs) 21 % 27 % 9% 18 % 24 % ■■ Increased ProductivityHUMAN RESOURCES 18 % 31 % 8% 20 % 24 % Shorter customer support cycles (30% faster sup- port processes) GENERAL MANAGEMENT Better investment decisions (20% increase in suc- 16 % 29 % 9% 24 % 23 % cessful decisions)OPERATIONS 13 % 25 % 9% 25 % 29 % ■■ Cost Reduction SUPPLY CHAIN OPERATIONS MANAGEMENT Self-service support cycles (20% decrease in com- 8% 18 % 12 % 24 % 39 % munication costs and 15% decrease in operational RISK MANAGEMENT costs) 7% 19 % 11 % 25 % 39 % Overcoming distance and time zone barriers to col- FINANCE laboration (20% reduction in travel and communica- Source: Dion Hinchcliffe and Peter Kim | 6% 14 % 9% 27 % 44 % tion costs) Social Business by Design, 2012.28 March 2013 | SOCIAL BUSINESS 29
  • 16. Businessmodel canvas: Key Partnerships Key Activities Value Propositions Customer Relationships Customer Segmentsthe consThe challenges and risks associ- Worker productivity.ated with social business are re- Data security Brand reputation. and privacy.lated to Value Propositions (brandreputation), Key Resources (pro-prietary information leaks), and Unintended disclosureKey Activities (worker productiv- of companyity, data security/privacy, and un- informationintended disclosure of companyinfo). Since we are still relativelyearly in the trend, it makes sensethat the negative version of thestory has not materialized yet. Key Resources Channels Proprietary information leaksSources: McKinsey Global Institute | TheSocial Economy: Unlocking value andproductivity through social technologies,July 2012. Cost Structure Revenue StreamsAlex Osterwalder and Yves Pigneur |Business Model Generation, 2010.30 March 2013 | SOCIAL BUSINESS 31
  • 17. Barriers: external Deeper dive into socialExternal barriers impeding social software adoption: business modelsComposite Score * For more detailed information related to social busi- Concern over regulators´ ness and its impact on business and business models, 5,036 Risk or security concerns 2,077 stance towards social media please see the following reports: Insufficient customer 4,035 demand or need 1,728 Absence of industry standards ■■ Deloitte (MIT Sloan Management Review) | Social Business: What are they really doing?, 2012. 2,410 Legal issues 1,474 Recessionary economy ■■ IBMInstitute for Business Value | The Business of Social Business: What works and how it’s done, No- 964 vember 2012. Lack of shareholder supportBarriers: internal ■■ McKinsey Global Institute | The Social Economy: Unlocking value and productivity through socialInternal barriers impeding social software adoption: technologies, July 2012.Composite Score * Lack of management Lack of a knowledge 3,050 understanding 1,306 sharing culture No strong business case 2,314 or proven value proposition 1,276 Lack of a robust strategy Fear of challenging established 2,087 Too many competing priorities 1,226 norms and practices 1,885 Fear of lack of control 845 Lack of implementation skills Security concerns Employee mistrust 1,600 (e.g., intellectual property leakage) 824 or resistance Lack of senior Lack of policies or 1,532 management sponsorship 584 governance processes Fear of employee abuse 386 1,349 (e.g., wasting time) Lack of incentivesSource: MIT Sloan Management Review& Deloitte | Social Business: What AreCompanies Really Doing? 2012.32 March 2013 | SOCIAL BUSINESS 33
  • 18. SOCIAL BUSINESS The early adopters PRACTITIONERS Alcatel-Lucent “The Jive platform was rolled out April 6. Lowe with everyone that touches your brand. If you don’t initially sent an e-mail about the service to just 125 do that, I don’t know what your business model is people in the company, giving them each a log-in in five years.” and inviting them to join. Membership spread from Source: ZDNet | Social Business Success: Burberry, February 2012. there, and Alcatel-Lucent now (July 15th, 2010) has nearly 20,000 registered Jive users. According to News CorporationGlobal Lowe, about 200 to 400 people join every day. On “[We saw] these trends coming together at a very any given day, about 1,000 people use the system macro level around what workplaces were going in one way or another.” to be like in 2020, where internal communication Source: ZDNet | Enterprise 2.0 Success: Alcatel-Lucent, January 2012. was moving and the rapid rise of social network- ing. Through putting those three themes together, BASF there was a really big ‘aha!’ moment, in that social “BASF has enumerated the benefits they believe technology is changing the world and it will begin they have received from their internal social busi- to challenge the way business gets done. Around ness initiative. These include faster and easier ac- the same time, we were also hearing requests fromsnapshots cess to experts, increases in the value of existing our employees – they were asking to connect with knowledge, higher worker efficiency, better collabo- people in other parts of our businesses with similar ration, reduction in e-mail overhead, and better align- jobs to theirs so they could learn from each other ment with younger workers.” and innovate faster.” Source: ZDNet | Enterprise 2.0 Success: BASF, February 2012.. Source: ZDNet | Enterprise 2.0 Success: News Corp., February 2012. Burberry Extra: Social Business Index “The experience would be that a customer would To see how other companies are faring with social have total access to Burberry, across any device, business, check out the following index. “The SocialSocial business is currently a hot topic. In this section, we’ll anywhere. And they would get exactly the same feel- Business Index analyzes the effectiveness of strate- ing of the brand, feeling of the culture, regardless of gies and tactics organizations employ to engage thetake a quick look at some early adopters of social business, when, where, how they were accessing the brand. market through social channels. At launch, the Socialfollowed by fly-by of some of the hottest social technology Everyone now can come into Burberry World the Business Index analyzes signals from over one hun- journey and mission that Burberry is on. And for any dred million social sources globally and analyzes thecompanies in the work media and social media space. CEO that is skeptical at all: You have to create a social performance of the largest global companies and enterprise today. You have to be totally connected thousands of those companies’ brands.” Source: Dachis Group | Social Business Index., December 2012.34 March 2013 | SOCIAL BUSINESS 35
  • 19. Yum Brands“While Yum! Brands itself isn’t necessarily a house-hold name, its three top brands -- Taco Bell, KFC, and WORK MEDIAPizza Hut -- are instantly recognizable around theworld. The international fast food giant is truly globalwith over 330,000 workers in 110 countries with acombined annual revenue in excess of $11 billion. Yammer IBM The following work “Yammer is an Enterprise Social Network that brings “Leading in today’s business world means knowingStarting several years ago, the company realized it together employees, content, conversations, and how to work as a social business. It starts with media platformshad significant challenges in being highly geographi- business data in a single location. Built for the enter- integrating social technology into your most criticalcally distributed. Such dispersion created silos of were analyzed prise and loved by users, Yammer empowers em- business processes. Social business technologiesknowledge and know-how, something that is poten- in five different ployees to be more productive by enabling them to can help you activate your workforce to improvetially disastrous in the highly competitive industry parameters by collaborate in real-time across departments, geog- productivity and delight your customers to createof food service.” GigaOm: short-term raphies, and business applications. Employees can advocates and increase revenue.”Source: ZDNet | Enterprise 2.0 Success: Yum! Brands., February 2012. work relationships, create groups to collaborate on projects and share Source: IBM | Social Business, December 2012. microtools, and edit documents. It is a new way of working thatCemex fosters team collaboration, employee engagement, Podio (Citrix) networks>processes,“Designed to innovate and help make the company and business transformation. “Combining hundreds of specialized and flexiblemore efficient and agile by letting employees or consumerized work apps with messaging, tasks, reporting, work-groups of employees with similar objectives share IT, and social With a Freemium model, Yammer enables employ- flow and contact management, Podio lets youopinions, thoughts, information, experience, knowl- communications. ees to voluntarily adopt the service. A premium ver- build and shape the online workplace most fittingedge and best practices.” The benchmarked sion is available to paying customers and includes to your role. It eliminates scattered, unorganizedSource: ZDNet | Social Business Success: Cemex, February 2012. companies are additional administrative and security controls, in- work routines, and replaces multiple products from presented in the tegration with other applications, priority customer different companies with a single environment andSAP: SAP Community Network service, and a dedicated customer success manag- a single login. order, from the er. More than 5 million users, including employeesSAP Community Network (SCN) is a professionalsocial network that orchestrates collaboration highest to the from 85 percent of the Fortune 500, have adopted Currently based in Copenhagen, Podio is building abetween SAP customers, partners, employees and lowest scores. Yammer’s Software-as-a-Service solution.” multinational team of German, French, British, andexperts. SCN has more than 2 million members. Detailed results Source: CrunchBase | Yammer, December 2012. Danish employees. Thomas Madsen-Mygdal is chair of the benchmark Yammer | December, 2012. of the board of directors. Tommy Ahlers, formerly ofSee video can be found at Zyb, is CEO and investor.” Socialcast (VMWare) GigaOm Pro, “Sector Source: CrunchBase | Podio, December 2012.Podio | December, 2012. “Socialcast is a leading provider of Enterprise col- RoadMap: work laboration software to facilitate real-time employee SAP media tools in communication while analyzing the social graph “Delivering on its social strategy, SAP introduced two 2012, published in for measures of productivity. Socialcast is deployed new offerings: the SAP Jam social software platform September 2012. either on-premise or on-demand using activity and the SAP Social OnDemand solution. SAP Jam streams to effectively accelerate information aware- enables today’s workers to drive rapid business re- ness amongst employees.” sults by integrating social capabilities into their ap- Source: GigaOm Pro | Sector RoadMap: Source: CrunchBase | Socialcast, December 2012. plications and daily business processes, eliminating work media tools in 2012, September 2012. Socialcast | December 2012. social silos. SAP Social OnDemand transforms so-36 March 2013 | SOCIAL BUSINESS 37
  • 20. cial media conversations into rich business insights. Huddle Jive ChatterThe solution helps marketing and customer service “Established in 2006, Huddle creates cloud-based “Jive is the largest and fastest growing independent “Chatter is a social platform that integrates withorganizations better engage with customers to in- collaboration and content management software for vendor in the Social Business Software market. Jive Salesforce’s infrastructure and developmentcrease brand loyalty, manage reputational risks and the enterprise. Its patent-pending intelligent technol- allows companies to engage employees, custom- platforms.capitalize on opportunities.” ogy locates and recommends valuable information ers, and the social web. Just as social technologiesSource: SAP | Press Release (31 October 2012), October 2012. to users, with no need for search. Huddle is used have changed our personal lives, Social Business is Chatter is a social network for the company. It give by more than 100,000 business and government changing how enterprises get work done. The com- users access to real-time information about what’sOracle organizations worldwide, including the central US pany was founded in 2001, with its headquarters in going on in the company.”“Businesses are becoming more social every and UK government, AKQA, HTC and Kia Motors, Palo Alto, CA and offices in Portland, OR; Boulder, CO; Source: CrunchBase | Chatter, December 2012.day. It’s not a matter of when to become a to securely store, share and collaborate on content Brentford, United Kingdom; and Frankfurt, Germany. Salesforce Chatter | December 2012.social business, but how to become a social with people inside and outside of their organization.business. To accomplish this, CIOs need to help Huddle can be accessed online, on desktops and Jive combines the power of community software,create engaging user experiences that integrate on the move with BlackBerry, iPhone and iPad apps. collaboration software, social networking software,yesterday’s enterprise applications with today’s and social media monitoring offerings into an inte-social technologies. Architected correctly, The company is privately held and backed by ven- grated platform. The company is focused on solu-companies can solve business problems more ture capital firms DAG Ventures, Eden Ventures, Ma- tions to increase team and work productivity. Jivequickly, resulting in increased innovation and trix Partners and Jafco Ventures.” makes it easy for groups to brainstorm, share ideasgreater sales.” and see what everyone is working on. The product Source: CrunchBase | Huddle, December 2012.Source: Oracle | Social Business, September 2012. includes team member blogs, wiki-docs for group Huddle | December 2012. editing and discussion tools. Recent versions include video, analytics, and social media monitoring. Jive is backed by Sequoia Capital and KPCB.” Source: CrunchBase | Jive, December 2012. Jive | December 2012. Cisco “The new business collaboration workspace is a platform of communications and collaboration capabilities that can be delivered to every user, regardless of their location or device. What is new is that this new business collaboration workspace is inherently: ■■ Mobile: Users access the tools and information when and where they need them ■■ Social: Enterprise social software and collaborative platforms connect users ■■ Visual: The addition of video enhances commu- nications ■■ Virtual: Deliver applications and data securely and reliably from clouds” Source: Cisco | Collaboration, December 2012.38 March 2013 | SOCIAL BUSINESS 39
  • 21. Other social platforms Social media companies are continuing to evolve. There are seven major businessSocial business is a concept made up of many categories for social media: platform, SOCIAL MEDIAdifferent parts. For now, the world is very familiarwith social media and work media, the “good looking” publishing, sharing, playing, networking,twins in the social business family. However, there are buying, and localization. For each category,other lesser known siblings in the space which are we list some of the leading brands.poised to make some impact further down the road. Along with devices (PCs, SmartTVs,The up and coming technologies are social listening, Smartphones, tablets, etc.), connectivity,social intelligence, and crowd labor technologies. and interactions, these categories makeAlso, we have listed some “older,” precursors: ERP,Enterprise 2.0, etc. up the social media ecosystem. Source: Fred Cavazza | Social Media Landscape 2012, February 2012.SOCIAL LISTENING COLLABORATION SOCIALIZING ERP Platforms Playing Buying Publishing■■ Radian6 (Salesforce) ■■ Google (App & Drive) ■■ Oracle ■■ Facebook ■■ Electronic Arts ■■ Hunch ■■ WordPress■■ RightNow (Oracle) ■■ Skype ■■ LotusLive Connections ■■ Twitter ■■ Zynga ■■ TripAdvisor ■■ Wikipedia■■ Collective Internet (Oracle) ■■ Box.net ■■ SharePoint ■■ Google+ ■■ Playdom ■■ PowerReviews ■■ Blogger■■ Vitrue (Oracle) ■■ Huddle ■■ Cisco Quad ■■ Playfish ■■ BazaarVoice ■■ TypePad■■ Cognos Insight (IBM) ■■ Zoho ■■ SAP StreamWork Sharing ■■ Kobojo ■■ Polyvore ■■ Tumblr■■ Kosmix (purchased by Walmart) ■■ Pinterest ■■ Digital Chocolate ■■ Blippy ■■ Quora ENTERPRISE 2.0 ■■ Spotify ■■ Pop Cap ■■ Baasket ■■ PosterousCROWD LABOR PLATFORM ■■ YouTube ■■ hi5 ■■ Wikia■■ Clickworker ■■ Jive ■■ Instagram Localization■■ CloudFactory ■■ Moxie ■■ Dailymotion Networking ■■ DisMoiOu■■ CrowdComputing Systems ■■ Clearvale ■■ Vimeo ■■ Viadeo ■■ SCVNGR■■ CrowdFlower ■■ NewsGator ■■ Slideshare ■■ LinkedIn ■■ Foursquare■■ CrowdSource ■■ Yammer ■■ Scribd ■■ myYearbook ■■ Plancast■■ Houdini ■■ Traction ■■ Flickr ■■ NetLog ■■ Yelp■■ Humanoid (acquired by CloudFactory) ■■ Socialtext ■■ Digg ■■ Classmates ■■ Path■■ MobileWorks ■■ Chatter ■■ Delicious ■■ Tagged■■ Samasource ■■ blueKiwi ■■ Badoo■■ Servio (formerly CloudCrowd) ■■ MySpace40 March 2013 | SOCIAL BUSINESS 41
  • 22. BBVA & Social networks areSocial much more than Facebook, Twitter, Google+ or LinkedIn.BusinessNot only can Social technologies be applied In essence, they are communities of people gathered around common interests. Overall, BBVA’s communities into customer-facing applications (social social networks exceed four million users,media), they may be used for employee- grouped around themes in which the bank can add value to the conversation.facing and third-party facing applications. Thus, the objectives of notoriety andIn 2012, BBVA made headlines by adopting affiliation with the brand on the InternetGoogle Apps for its 110,000 employees; improve - but we can’t just stop there.transforming the way work The next step is to ensure users of ouris done in the enterprise, and communities benefit directly from their participation in them, in a way that isnow, BBVA is launching genuinely useful to the business ofYo Soy Empleo, using our clients. If they grow, we also grow.social technologies to Under this premise we have developedcollaborate with third- “Yo soy empleo” (I am employment),parties to create value a community that allows its members to combine efforts with a clearfor the community. objective: to generate jobs in Spain.42
  • 23. T he community aims to match demand with supply, to link those companies that in spite of the crisis continue to grow with those individuals who are seeking for a job in these complicated times. BBVA’s contribution to the community is not just limited to the creation of a so- cial platform connecting both parts - it includes an incentive scheme for new hires, with direct financial support for each job created, a business advisory service and a training plan participated by the country’s leading business schools. In other words, the aim is to bring together several existing communities that share a same interest - the creation of jobs -, and try to find common solutions which may benefit all their members. Therefore, we use typi- cal social web tools to obtain a greater benefit for the community, with The “social” trend is part of something bigger ... much bigger: a system that allows to join efforts in order to obtain a common asset. the coming convergence of social, mobile, cloud, and big data. Social platforms are nothing but a meeting point. In this case we believe Many industry analysts are envisioning major disruptions that gathering in a same virtual place all the parties involved in the gen- eration of jobs and providing differentiated support to help achieve the caused by the coming together of these four major trends, ultimate goal can be beneficial for everyone. which will change the way we live, work, and play. This is not something BBVA is managing alone, since the proper perfor- mance of a community depends on all its users. That is why, from the Whether it is known as the “Nexus” (Gartner) or the “3rd beginning of the project, “I am employment” counts with the implication of companies that demand workforce; of Infoempleo, as facilitator in the Platform” (IDC) or by any other name, the ultimate mashup recruitment processes; of leading business schools, for the training plans; is set to shine in the era of the customer-centricity. When of BBVA Empresas, for the advisory service, etc. Once launched, anybody willing to contribute to meet the objective of generating jobs will have the peeking into the convergent future with a social focus, keep door of the community open in Yosoyempleo.es. the following in mind:44 March 2013 | SOCIAL BUSINESS 45
  • 24. New mindsets System of recordsLeaders must lead the change from industrial-based models of pro-ductivity (product-centric) towards knowledge-based models of pro- > engagementductivity (customer-centric). This little, short history of computing shows us that the “know-how” (or knowledge) in the current computing environment is found in conver- sations, social conversations. In this era, businesses must effectively manage these conversations to create new or more value and/or to maximize efficiency. FROM IT leaders will also need to adopt new mindsets TO Best known Content Years Typical thing company management focus Transaction processes. Patterns of interactions, user structured and routine A batch UNDERSTANDING OF BUSINESS models, how work really gets 1960-1975 IBM Microfilm workflows done, community formation transaction Mainframe Formal structures, Communities of work, Systems of Record departments, functions, FOCUS OF IMPACT social networks, intra-/extra- hardwired processes company, customers A Digital Image 1975-1992 departamental Equipment Management process Enforce enterprise Proliferate the most adopted Mini POLICY APPROACH enabling technologies standards Document Planned rollouts based TECHNOLOGY DEPLOYMENT Experiment, scale, and deply 1992-2001 A document Microsoft on roadmaps based on usage and adoption Management PC Top-down, efficiency and User-centric, usage- and consistency-oriented DECISION MAKING effectiveness-oriented A Content Systems of Engagement 2001-2009 Google web page Management Internet Labor-capital trade-offs. Labor AND capital, total IT productivity/ROI efficiency, ECONOMICS OF IMPACT factor productivity, throughput effectiveness, outcomes Social A 2010-2015 Facebook Business source: McKinsey Global Institute | The Social Economy: Social conversation Systems Unlocking value and productivity through social technologies, July 2012. and Cloud source: Geoffrey Moore, TCG Advisors & AIIM | Systems of Engagement and the Future of Enterprise IT: A Sea of Change in Enterprise IT, 2011.46 March 2013 | SOCIAL BUSINESS 47
  • 25. The Ten Tenets Nine insightsof Social Business of social enterpriseThese tenets are the most succinct and useful statements of what so- Allen Blue (LinkedIn), Jon Froda (Podio) and Tony Zingale (Jive Soft-cial business is (or should be), free of jargon or technology, courtesy of ware), the rock stars of the social business world, discuss their insightssocial business experts: Dion Hinchcliffe and Peter Kim. of the social enterprise. 3 While participation is self-organizing, 1“ email and spreadsheets 2“ The conversation itself is the way the work gets done in 3“ 15% of all people searches on LinkedIn are for their 2 Create the focus is on business are powering the 1 Anyone can participate. shared value by outcomes. 4 Enlist a large enough community work of today.” the enterprise.” own colleagues.” default. to derive the desired result. 6 Participation can take any direction. 4“ The number one reason 5 At work, “we don’t want to cc: 6“ Users are people. No 5 Engage the right people leave their everyone on a email, Be prepared for it, and matter where community for the business take advantage of it. 7 Eliminate all potential barriers to participation. Ease organization is because they don’t feel connected.” because it’s rude. But we should. It’s not a secret.” they are, they’re just people.” purpose. of use is essential. 8 Listen to and engage continuously with all 10 The most effective social 7 “Every technology 8 As the power of the individual relevant social business conversations. 9 The tone and language of social business are most business activities are deeply integrated in the flow of work. is a transitional technology. It’s just a matter of what transition increases, company culture is going to 9 Your company should have a six- to 12-month plan be the single most effective when they’re you’re in middle of.” and a 10-year plan. important factor casual and human. to success. Nothing else matters. source: Dion Hinchcliffe and Peter Kim | source: ZDNet | The Social Enterprise: nine Social Business by Design, 2012. insights, November 2012.48 March 2013 | SOCIAL BUSINESS 49
  • 26. In depth On the Web Badoo badoo.com Forbes | The Move from Systems of Salesforce Chatter salesforce.com Bank Systems & Technology | Social Record to Systems of Engagement, SAP Social Business blogs.sap.com Business: 4 Ways Socia Media is August 2012. forbes.com SAP | SAP Community Network, Transforming Banking, October 2011. Forbes | The Rise of Social Enterprise, December 2012. banktech.com July 2012. forbes.com facebook.com/sapcommunitynetwork Blogger blogger.com Foursquare foursquare.com Scribd scribd.comA list of links to other useful tools and Bloomberg | Dell President’s Advice GigaOm | Pinterest paves the way forresources that you may find useful as a to CEOs: Get Social, November 2012. new business platform with brand Slideshare slideshare.netsupplement to the information offered on go.bloomberg.com options, November 2012. gigaom.com Socialcast socialcast.comthe ‘Social Business’ report. Fred Cavazza.net | Social Media Land- Google Trends google.es Spotify spotify.com scape 2012. fredcavazza.net TechCrunch | Another Social Media Google+ plus.google.com Inbox? Source Metrics Says This Cisco Collaboration cisco.comBooks & The Guardian | How Social Business is One’s All About ‘Actionable Mentions’ CMS | The Pursuit of Social Business Changing the Way We Work, ..., November 2012. techcrunch.com Excellence Is Not About Technology, December 2012. guardian.co.ukPublications TripAdvisor tripadvisor.es November 2012. cisco.com Harvard Business Revew Blog | How Twitter twitter.com Dachis Group dachisgroup.com to Find New Competitive Knowledge in Social Media, December 2012. Tumblr tumblr.com Dachis Group | Social Business Index socialbusinessindex.com blogs.hbr.org TypePad typepad.esSandy Carter | Get Bold: Using Social Media to Create a IBM Institute for Business Value | Business of Social Busi-New Type of Social Business, September 2011. Daily Motion dailymotion.com Harvard Business Revew Blog | Inno- Vimeo vimeo.com ness: What works and how it’s done, November 2012. vation Isn’t Tied to Size, but to Oper- Wikia wikia.comForrester | Social Enterprise Apps Redefine Collaboration, Charlene Li | Open Leadership: How Social Technology Delicious delicious.com ating Rules, October 2012.November 2011. Can Transform the Way You Lead, May 2010. Digg digg.com Wikipedia wikipedia.org blogs.hbr.orgForrester | The Social CIO, August 2012. McKinsey Global Institute | The Social Economy: Unlocking Facebook facebook.com WordPress wordpress.com Harvard Business Revew Blog | SocialGartner | Hype Cycle for Business Use of Social Technolo- value and productivity through social technologies, Financial Brand | Google Trends Re- Media Will Play a Crucial Role in the Yammer yammer.comgies 2012, July 2012. July 2012. veal Banking Insights, Social Media Reinvention of Business, Yelp yelp.es McKinsey Quarterly | Demystifying Social Media, Zeitgeist, October 2012. November 2012. blogs.hbr.org YouTube youtube.comGartner | Hype Cycle for Social Software 2012, July 2012. April 2012. thefinancialbrand.com Huddle huddle.comGigaOm Pro | Sector RoadMap: work media tools in 2012, ZDNet | Enterprise 2.0 Success: Alca- McKinsey Quarterly | How ‘Social Intelligence Can Guide Financial Post | Social Business IBM Social Business -01.ibm.com tel-Lucent, January 2012. zdnet.comSeptember 2012. Decisions,’ November 2012. Changes the Dynamics of Collabora-GigaOm Pro | Sector RoadMap: crowd labor platforms in InformationWeek | 10 Signs You’re ZDNet | Enterprise 2.0 Success: BASF, tion, November 2012.2012, November 2012. MIT Sloan Management Review & Deloitte | Social Busi- Not a Social Business, December February 2012. zdnet.com business.financialpost.com ness: What Are Companies Really Doing? 2012. 2012. huffingtonpost.com ZDNet | Enterprise 2.0 Success: NewsGigaOm Pro | Listening Platforms: finding the value in so- Flickr flickr.com Geoffrey Moore, TCG Advisors & AIIM | Systems of Engage- Instagram instagram.com Corp., February 2012. zdnet.comcial media data, September 2012. Forbes | Executives: Get Social or Get ment and the Future of Enterprise IT: A Sea of Change in Jive jivesoftware.com ZDNet | Enterprise 2.0 Success: Yum!GigaOm Pro | Future of Work Platforms, February 2011. Out, November 2012. forbes.com Enterprise IT, 2011. LinkedIn LinkedIn.com Brands., February 2012. zdnet.comDavid Gray | The Connected Company, September 2012. Forbes | How to Jump to a Social Nielsen | State of the Media: The Social Media Report 2012, Oracle Social Business oracle.com ZDNet | Social Business Success:Dion Hinchcliffe and Peter Kim | Social Business by Design, Business Model, December 2012. 2012. Alex Osterwalder and Yves Pigneur | Business Model Burberry, February 2012. zdnet.com2012. forbes.com Path path.com Generation, 2010. ZDNet | Social Business Success: Forbes | Rethinking the Customer Pinterest pinterest.comHuffington Post | What’s the Difference between Social Pew Research Center: Global Attitudes Project | Social Net- Cemex, February 2012. zdnet.com Journey in a Social World, Podio company.podio.comMedia and Social Business?, December 2012 working Popular Across Globe, December 2012. November 2012. forbes.com ZDNet | The Social Enterprise: nineIBM | The Social Business: The Advent of a New Age, Posterous posterous.com insights, November 2012. zdnet.com Forbes | Social Business Enlighten-April 2012. Quora quora.com ment, November 2012. forbes.com50 March 2013 | SOCIAL BUSINESS 51
  • 27. Trending issuesIn this section, readers will find summaries of the most relevant news of selectedtopics that have been published over the course of the month based on its relevance Mobile Bankingto the Banking industry. The summaries were prepared by the editorial board. Furtherinformation is made available for each given topic. A crowd-sourced moneyNew Formats dispensing system???Merge: the “product offering Apple recently filed for a patent that essentially allows nearby iTunes users to become cash-dispensingof the future” systems. The system is entitled, “Ad-Hoc Cash Dispensing Network” and would allow Apple users provide cash to other users, splitting the “service” feeGenerally, mobile banking is “thought of as a new channel or product, with Apple.yet it is actually a reiteration of an old product.” According to one webstrategist, banks should find ways to bring the 2 world together. He Source: psfk.comsuggests:■■ Consolidate vendors■■ Combine Marketing Platforms■■ Make Desktop Multi-Device Compatible■■ Fully Mobilize Desktop Features■■ Re-think Desktop Banking Design Social Business■■ Unify the Visitor ExperienceSource: thefinancialbrand.com Core Banking Platforms Trading Places: Apple and IBM“Debt” is to blame According to Mark Fidelman, a contributor to Forbes, over the last 25 years, Apple and IBM seem to have switched roles: “Bigfor software glitches Blue” is becoming “Big Open” (and less “Big Brother”), while Apple is more like “Big Brother,” given their tight, wall-gardened approach. At the end, Mr. Fidelman believes that “you can noLloyd’s Faster Payment System was in name only, as glitches caused longer create great products alone” and the approach that IBMdelays, andPayPal’s Instant Payment charged customers 2x. Other is taking seems to make more sense.big name institutions have suffered software related failures including,NatWest; RBS; and notably Knight Capital, whose software anomalies Source: forbes.comdecimated its balance sheet. So what’s going on? A technology guruattributes the outages to “technical debt,” the price for cutting cornerswhere unfixed code come back to bite.Source: bbc.co.uk52 March 2013 | SOCIAL BUSINESS 53
  • 28. Trending issuesMobile Payments Brands & BrandingMobile Payment Market The 5 Best Ads of Super Bowlin 2013 XLVII, according to AdWeekThe US mobile payment market is projected to reach 5. Taco Bell: “Viva Young” - Agency: Deutsche$90 billion transactions in 2017, an 48% compounded 4. Oreo: “Whisper Fight”/”Dunk in the Dark” - Agencies: Wiedenannual growth rate from 2012’s $12.8 billion. According + Kennedy, 360i & Media Westto Fool.com, here are the key stocks to watch in in 2013: 3. Samsung: “The Next Big Thing” - Agency: 72andSunny■■ Square (Starbucks): in November, Square an- 2. Budweiser: “Brotherhood” - Agency: Anomaly nounced was handling $10 billion in annual 1. RAM: “The Farmer” - Agency The Richards Group transactions. Source: adweek.com■■ PayPal (eBay): PayPal CEO expects to see over $20 billion in annual sales volume in 2013. Source: fool.com Crowd FinanceCustomer-Centricity97% of senior executives believe Crowd-funding,that Customer Experience (CX) Chinese styleis critical to success “Tencent’s platform breaks new groundA recent survey comissioned by Oracle, “Global Insights on Succeeding in the in China and could become a significantCustomer Experience Era,” revealed that although 93% of senior executives source of investment and publicity forstated that CX is a top 3 priority in the next two years. However, only 37% social entrepreneurs”. In China, dueof firms have CX initiative in progress and 20% opine that their program is to legal restrictions, funds cannot beadvanced. Brian Curran, Oracle’s VP of Customer Experience offers his top 5 solicited from individuals. In order totips on how to get started: satisfy the need for funding, Tencent■■ Span silos for a consistent, cross-channel experience is offering a platform that allows social■■ Get serious about mobile enterprises and NGOs to share proposals and “tweets” (via Weibo) for support.■■ Personalize interactions “Each time a member of the public■■ Get social re-tweets a message, the beneficiary is■■ Empower customers & employees credited with .07€ which will be donated by Tencent’s charity foundation.”Source: informationweek.com Source: guardian.co.uk54 March 2013 | SOCIAL BUSINESS 55
  • 29. Trending issuesApp Ecosystem New Banking ExperienceFree Apps!Everyone is doing it ... Branches to ServeFor most, the dominant business model for the app as “Living Labs”economy is “Free”. It helps the company to ramp-upusers in a hurry. However, it doesn’t offer a lot of flexibility For Vancity, two new branch prototypes servefor its business model: companies either end-up selling to bring “the brand and business model alive”themselves or begin selling ads. A recent article in Verve by continually evaluating new retail approaches,talks about a “sustainable app development model: “the new products and new merchandising strategies.future of app development is to give away as much Vancity’s COO points out, “As we learn from thesevalue as possible and empower those who receive more changes, we hope to replicate successes in othervalue to pay more for it.” An app business model should branches over time.”show how it can create, deliver, and capture value in asustainable way. Source: thefinancialbrand.comGadgetology Big Data Apple, please give me a phablet! Phablets handsets sales are expected to grow to 230 million units in 2015, exploding from a base of 27 million in 2012. Recently, two Big Data or Big Brother? prominent analysts are pointing out that Apple Big Data is believed to be a key tool to solve some of the world most pressing is “leaving money on the table” by not offering problems, such as the ability to spot flu trends earlier; and also, to increase value to something that consumers want: a bigger both customers and companies. However, skeptics are fearful that Big Data really screen. It would be so phabulous. means Big Brother. Recently, PayPal’s co-founder recent speech warned about Source: appleinsider.com the dangers of big data: people can be “just resources that are not being utilized efficiently”. Something to think about as Facebook has 1 billion users. Source: gigaom.com56 March 2013 | SOCIAL BUSINESS 57
  • 30. Trending issues Technology trends The following section outlines the upcoming technologies that will changeFuture of Work everything, with predictions on what may come of them in financial industry.Work in the Future: friendlier,healthier, and more efficientWork, as we know it, is changing: “Quantified Employees, Pop-Up Dashlane - Express checkoutWorkplaces & More Telepresence.” Recently, Fast Company reviewed One of online shoppers’ biggest complaints is that checking out takes too long.PSFK’s report, and shares their key takeaways: Online seamless payment processes are considered one of the main goals■■ Start-up Training & Skills Marketplaces■■ Office Feedback Culture since V.me were launched in 2012. The idea of avoiding a tedious checkout■■ Quantified Workers has a great acceptance, and there are some tools that are helping to make■■ More Social Communication Tools purchase processes fast and easy, similar to the non-digital world (remember■■ Telepresence Proliferates Digital is NOT different).■■ The Pop-up, Healthy WorkplaceSource: fastcoexist.com Dashlane is going further than V.me being more than just a seamless digital wallet. Considered one if the Innovation of the Year Dashlane launched a tool for doing checkout almostDIY instanta­ eously, filling automatically all the fields required, n all the passwords needed, the payment information of creditOffering a 5 year old boy, cards, ma­ aging multiple identities, na helping hand; the DIY way addresses, and payment information in a extremely secure way, using anyTwo DIYers, Van As and Ian Owen, manufacture an open-source, lightweight, device sync with the app.personalized prosthetic hand for a 5 year old boy, who was born withoutfingers on his right hand; for less than $150. “The 3-D parts were madepossible by Makerbot, which donated two 3-D printers, one each for Van Asand Owen so they could swap CAD files as they refined the designs.” Liamnow can “hold a basketball, and even pick up small things like coinsby activating his new lightweight hand with a bend of his wrist.”The duo is currently raising funds to further developthe Robohand.Source: popsci.com58 March 2013 | SOCIAL BUSINESS 59
  • 31. Technology trendsI ts main feature is storing safely all our account in- formation of all the web services in which we are information, and shipping specs with nearly twice the accuracy of its competitors. Beyond Passwordsalready signed up. We can access to these accountsinstantaneously since Dashlane will log in without All these features make the checkout process muchpress any button. All the information and passwords more easier than any other tool, and it can be com-saved in Dashlane are protected by a master pass- pleted in almost one click, also storing the purchase We are going towards a world in which we will con-word, that is only saved and encrypted locally, not by information and the bill in the app for you to track nect to our laptops, tablets and smartphones withdashlane (and it can never be recovered if it’s forgot- your expenses.ten!!), by using AES-256 encryption method,used by Watch the video in youtube to see how it works: our biometric features. James Bond’s technologymilitary, financial and government institutions. is no longer science-fiction. Our patterns are data. This start-up, with HQ in Paris and NY, was launchedDashlane also creates new encrypted accounts in 2009, and received $5Million funding (serie A), will IBM Research predicted back in December 2011credentials and generate secure passwords for ser- be demoing at Finovate Europe next month present- that in five years passwords would be replaced byvices not used before, and learns a user’s habits for ing this express checkout process. We will be tuned,frequently visited sites, filling in password, payment it sounds interesting (and it works!). biometric recognition processes such as digital fingerprints, retina and iris readers, voice and the geometry and veins of the hands. B ut Intel has already created a tablet with a new software including a sen- sor able to recognize the palm vein pat- tern of a person just from a simple wave of the hand. See video Source: Sydney Morning Herald Sridhar Iyengar, director of Security In- vestigation in Intel Labs, showed this technology at the Intel Developer Forum 2012. When the device recognizes the person, all services are enabled, granting access with no need of passwords. The mechanism has accelerometers which detect if the user has moved away from the device and automatically block the session and cut the access.60 March 2013 | SOCIAL BUSINESS 61
  • 32. Technology trends EventBiometric systems transactions done through smartphones, in continu- ous growth.for security because… Sources: IBM Research | IBM 5 in 5: Biometric data will be the key to Social Business… traditional identification processes are vulner- personal security.able to cyber-attacs. The number of attacks has in- David Nahamoo. 19/12/2011.creased during the last year, as seen in the graphicobtained from RSA’s monthly report on online fraud. Bloomberg | Intel seeks to eliminate computer passwords with Along with other key trends, social business is wave of hand. beggining to offer some interesting and valuableExperts predict that the sales of biometric process- Ian King. 13/09/2012. proposals.es will grow at an annual rate of over 22 percent, ebanking | Intel, la palma de tu mano, será tu nueva contraseña. The first “social” wave is now consolidating andand revenues will reach 9 trillions in 2014. ATMs 16/09/2012. enterprises have to be ready. Make sure youwith palm vein pattern recognition processes were RSA Online Fraud Reports. don’t miss it!launched in Japan and Brazil at the end of 2011. It September 2012.is expected that the banking sector will introduce Deutsche Bank | Homo biometricus. Biometric recognitionbiometric systems in the medium to long term to systems and mobile internet services.ensure greater security against spyware and mal- AThomas F. Dapp.ware on online banking due to the large increase of Attend the event in order to listen to the 06 4 5960000 06 most reputed 88 9 4 experts 51 4950000 0 More info 8 3 87 97 8 55 3740000 38 35 4 5 97 7 36 90 29 19 2830000 26 0 0 9 03 24 11 1 14 21 21 1920000 Some of the corporations that have begun to10000 develop social business policy, such as IBM or LinkedIn, will share their experiences along 0 with BBVA’s. Follow the conference via streaming 11 11 11 11 1 12 12 12 12 12 12 2 12 c1 l1 On March 20th, at the BBVA Innovation through BBVA Innovation Center website. g pt ct v n b ar r ay n g Ju De No Ap Au Ja Ju Fe Au O Se M M Center we will analyze this increasingly If you’re not able to make it, search our popular trend. archive for the best potos and videos on Source: RSA Anti-Fraud Command Center the subject, all taken during the event. From 9:30 to 14:00 h. Plaza de Santa Bárbara, 2. www.centrodeinnovacionbbva.com 28004. Madrid62 March 2013 | SOCIAL BUSINESS 63
  • 33. BBVA invests in “I nvesting in start-up companies committed to new business models enables BBVA to learn and anticipate the new environments that the sector will digital channels and means of payment that are gen- erating new customer relationship models. Against this backdrop, BBVA’s firm commitment to new tech- innovation face in the future,” said Jay Reinemann, co-founding nologies through functions such as BBVA Ventures executive director for BBVA Ventures. “Moreover, en- makes it one of the few banks that are ready to tackle trepreneurs and co-investors can use BBVA’s exten- the changes and compete in the market. sive experience, brand and global distribution net- work to accelerate their growth.” www.centrodeinnovacionbbva.com By making strategic investments in venture backed A new strategic initiative by BBVA, by the name of start-ups, BBVA’s aim is to stimulate the research on Follow us: BBVA Ventures, will invest $100 million in start-up developments in technology and emerging busi- www.facebook.com/centrodeinnovacionbbva ness models, both of which already are of capital twitter.com/cibbva companies that prove crucial for the development importance for the bank. Mobility, data analytics and www.youtube.com/user/centroinnovacionbbva e-commerce, among others, are some of the key ar- of the financial services industry. Entrepreneurs and eas to be covered by the companies in portfolio, www.slideshare.net/CIBBVA venture capital investors alike are teaming up with which in exchange will get soundness and the pos- sibility to implement innovations in an experienced BBVA Ventures to look for innovation and emerging group with a strong international presence. trends on financial services, as well as exchanging “We believe that the partnership model of BBVA Ven- Events knowledge for the industry’s sake. tures provides the most efficient and effective ac- cess to emerging trends and disruptive innovation BBVA Innovation Center which ultimately maximizes shareholder value,” stated Carlos Torres, head of Strategic and Corpo- ■ LA CONVERSACIÓN BLOGS rate Development division at the BBVA Group. And This event will try to depict the enormous im- it does. In early 2012, BBVA Ventures completed its pact that the internet has on different fields of first investment in Silicon Valley, through “The 500 society. Hot topics and breaking news will be Start-ups Fund”, set up by Dave McClure, former discussed in order to achieve so. marketing executive at PayPal and a highly re- spected engineer and entrepreneur. Up to 300 Date: March, 14th. 11:00 a.m. at BBVA Innovation companies have taken advantage of this invest- Center ments, and it’s already turning up results. Simple, inDinero, PeerTransfer or WePay, are only some examples of the fruition of the programme. ■ KNOWSQUARE Know Square is an independent managers’ net- The BBVA Group has been investing in innovation work, both online and face-to-face, that focuses and technology for many years now, in order to an- on sharing analysis, opinions, knowledge and ticipate the deep transformation the financial industry experience appliable to managing enterprises. is eventually undergoing. Actually, this transformation Date: April, 9th. 6:00 p.m. at BBVA Innovation is already taking place with the development of new Center64 March 2013 | SOCIAL BUSINESS 65
  • 34. BBVA Innovation Edge is the first corporate magazine focused on innovation. Innovation Edge aims to explore new trends and technologies that may impact the financial industry, especially retail banking. BBVA Innovation Edge is the result of a collaborative work done by all the people who are involved in innovation at BBVA Group. APP: Available on the App Store... CONTRIBUTORS TO THIS ISSUE: Alfonso Bey Reyes Bolumar Vanesa Casadas Antonio García WEB: ... and also on the web: Luz Martín Carlos Méndez https://bbvainnovationedge.com Alvaro Morón Manolo Moure Alicia Sánchez Javier Sebastián Jose Manuel Valenzuela PDF: To read off-line María Teresa Vázquez Ignacio Villoch Gustavo Vinacua Shang Gu “Phil” Yim Are you interested More info in Innovation Edge? Subscribe to our newsletter and be informed of new issues.©BBVA2012No part of this publication can be reproduced or communicate in any form or by any platformelectronic o mechanic, including photocopying, recording o any other system of storage and Produced byretrieval, without permission of the publisher, BBVA. DL: M-38720-2012 Prodigioso Volcán (www.prodigiosovolcan.com) March 2013 | SOCIAL BUSINESS 67