Web 2.0 What is it and what does it mean for Retail banks Marc McNeill

What is it?

Lets start with technology

::Web as platform Web as platform

::Web as platform Changing the Web's job

::Web as platform ..from one-way static documents

::Web as platform ..to two-way dynamic data

::Web as platform the website becomes an application

::Web as platform

::Web as platform

::Web as platform

::Web as platform The underlying programming language becomes irrelevant

::Web as platform ..it's more about scalability and interoperability

::Web as platform And usage independence

::Usage independence Sharing your services

::Usage independence Allowing mashups

::Usage independence For unseen benefits

::Usage independence

::Usage independence

::Usage independence Sharing your credentials

::Usage independence

::Usage independence Sharing your services

::Usage independence Amazon are a book seller software company

::Usage independence E-Commerce Payments Storage Grid computing Messaging Data (Alexa)

::Speed to market Speed to market

::Web as platform The underlying programming language becomes irrelevant

::Speed to market Light weight programming languages

::Speed to market Confidence to take unproven ideas to market before they mature

::Speed to market Perpetual beta

::Speed to market Testing the proposition in the flesh

New technology enables new strategies

::Lightweight business models Innovation at speed

::Lightweight business models To offer new and compelling value propositions

::Lightweight business models Fail fast Succeed with confidence

::disruptive innovation Disruptive innovation

::Lightweight business models Overturning the status quo

::Lightweight business models Encyclopaedia Wikipedia

::Lightweight business models MS Office Google docs

::Lightweight business models Sharepoint Wikis

::Lightweight business models Siebel Salesforce.com

::Lightweight business models MS Money Wesabe

::Lightweight business models Banks peer-to-peer lending

::Long tail Long tail

::Long tail Products are typically designed for the lowest common denominator

::Long tail Because of inefficient channels

::Long tail Products Limited shelf space Films Limited cinemas Music Limited radio stations Documentaries Limited TV channels Multi media Limited bandwidth

::Long tail Products Limited shelf space Films Limited cinemas Music Limited radio stations Documentaries Limited TV channels Multi media Limited bandwidth

::Long tail Products amazon Films VOD Music pandora Documentaries uTube Multi media Broadband

::Long tail Products amazon The 80-20 rule is wrong

::Long tail 99% percent of the top 10,000 titles in Amazon will rent or sell at least once a month

::Long tail £ per sale Number of occurrences Top 20% The Long Tail Niche financial needs Flexible Service offerings?

The most visible element of 2.0 is the experience

::Interaction Interaction

::Interaction Websites become applications

::Web as platform

::Web as platform

::Web as platform

::Interaction Richer interactions

::Interaction

::Interaction

::Interaction

::Interaction

::Interaction

::Interaction

::Interaction

::Interaction

::community Bringing the user INTO the web

::community Community

::community Markets are conversations

::community Wikipedia delicious Myspace Bebo Geni Facebook Linkdin Twitter Google

::community

::community

::community

::community

::community Connecting people

::content Content

::content Hierarchical Proprietary Talking at Syndicated Shared Talking with

::community

::community

::community But…

::community MODERATION

Let’s return to the technology

What is it?

Ajax/DHTML/widgets making browser into an application GUI

Tags semantics (meaning) attached to stuff

Microformats more semantics - data inside pages

XHTML+CSS separating data from presentation

Web feeds/RSS/Atom Data that updates

JSON Data not documents

APIs/APP/REST machine not human view on the web

OpenID Single sign-on: identity

Mashups Web 2.0 Integration

You may also hear about

Context

Content on the web lacks context

It is human readable not machine processable

Exclusive data

Without context…

Beaches

Thailand

Dive school

With context…

Beaches

Beaches in Thailand

Beaches in Thailand that have dive schools

Beaches in Thailand that have dive schools That have lessons next week

Linkages through metadata

Once data has context, personalisation becomes far more powerful

But…

Requires defined ontologies

Verbose markup

The jury is still out

What does this all mean?

(Time for a change in approach)

Let’s start with a customer

Let’s call the customer Sam Images from http://www.designcomics.org/

Sam had a different experience

He sees his balance where he wants it

He wants to pay a bill. He accesses his account securely, the way he wants to

It’s quick

He can move as much money as he wants easily

Transactions are tagged

By him and the other customers

See what he is spending

Where he is spending

Unusual spending patterns 3 7 2 1 8

Separating savings into different pots

Tools to manage his money

Microsoft money without the hassle!

Unobtrusive cross selling Can we save you money? You’ve bought petrol this month! Did You know with our Platinum account you can get FREE ROAD ASSISTANCE COVER

Sam likes what he sees

Content is easier to find http://www.pfigg.com/cloud.php

Sam enjoys targeted finding

Not souless searching

Sam’s thinking of moving home

He’ll want a new mortgage £ £

Rather than being pushed content

Frustration!

The bank knows about him

The process is not enter data

Wait

Not what I want

Oh dear…

Lots of work on my behalf, little on yours

It is mixing it up, real time…

Modelling his details and seeing quotes updating real time

Knowing about him to provide the best deal

Here’s a vision… (Contact us for the demo)

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