Adaptive Processes for    Adaptive TimesUsing the web to its full in the        banking sector       Haydn Shaughnessy
Some driversTHE INTERNET IS SO BIG ANDPERVASIVEand SO embedded in our behaviour IT  CHALLENGES US TOCHANGE THE WAY WE THIN...
agenda            Disruption factors    The Changing Business Ecosystem          Mastering the InternetBringing the Intern...
Haydn ShaughnessyResearch and consult on:Global trendsData structuring and improving intelligenceTransitioning the enterpr...
Disruptive innovation and new platforms    DISRUPTION       Mobile Internet   Customer empowerment         Better data
Disruptive innovation and new platforms      Smartphone penetration      Anticipated penetration     50% by end 2011      ...
Disruptive innovation in mobilePeople using smart                             Smart phones  phones use social             ...
A DECADE OF CUSTOMER EMPOWERMENT  Time in social networks is  time spent building  customer-to-customer  relationships in ...
So more companies choose to be in the customer ecosystem                                                    Other  From   ...
ECOSYSTEM behaviourEVERYDAY IN THEENGLISH LANGUAGE:500,000 BLOG POSTS50 MILLION TWEETSINNUMERABLESOCIAL NETWORKPOSTS      ...
THE INFORMATION OPPORTUNITY IS GROWING    Global mobile data increase 39-    fold increase from 2009 to    2014, at a comp...
THE OPPORTUNITY IS GROWING INTERNALLY TOO                 Enterprise Data               Compound annual growth,           ...
The problem of structured data   US financial institutions   customer   data deteriorates at the rate   of at least   3.5%...
UPSIDEMORE OPPORTUNITIES TOCONNECT WITH AN EVERWIDER RANGE OF PEOPLEMORE OBJECTIVE DATA,UNTAPPED BY COMPETITORS
CONSEQUENCESTHE GROWING QUANTITY OFUNSTRUCTURED DATA ONLINE ANDINTERNALLY THREATENS DECISIONMAKING BECAUSE OF ITS COMPLEXI...
Adaptive process for adaptive times           theecosystem
The EcosystemThe porous organization or theopen enterpriseOpen innovationInnovation takes place organicallyacross companie...
Growth of ecosystem conversations              Source: Haydn Shaughnessy, Bearing Consulting, Global Attitudes Project Apr...
DEALING WITH COMPLEXITY  New ways to   Collaborate  Communicate    Innovate
A partial view of the mobile ecosystem or          distributed enterprise                h/ware-                          ...
The broader financial ecosystem Though banks tend not to think in terms of ecosystems, the ecosystem exists               ...
Growth of customer ecosystems in general        Customers have shown themselves        over a decade to want to contribute...
Growth of customer ecosystems in general                            OVER                       2/3rds                     ...
Social media200 banks globallynow blog. Only oneseems to realise thatbanks, to customers,are rather boring....   The custo...
Growth of personal finance ecosystems
BENEFITS           CUSTOMER ECOSYSTEMS allow           you to connect with customers where           they are doing things...
Some wordson HOW             27 |
Enabling and supporting people through what we know     What we can know -     about customers,     competitors, markets  ...
PEOPLE and the role of good data                                 Hierarchy of Knowledge Needs                             ...
LETS LOOKS AT THAT INTHE EXTERNAL WORLD –    OUT ON THE WEB
THE DATA PROBLEM AND OPPORTUNITY         10S OF MILLIONS OF DATA         UNITS INTERNALLY AND         EXTERNALLY         H...
ECOSYSTEM: Structured knowledge PERSPECTIVES THEMES CONCEPTS TOPICS          Why bother?                 Structure is easy...
ECOSYSTEM: Structured knowledge HEAT MAP OF OFFICIAL BANK BLOG THEMES GLOBALLY Source, Bearing Banking KPIs project Note t...
ECOSYSTEM: ANOTHER VIEW OF EXTERNAL DATASTRUCTURING EXTERNAL DATA AROUND PERSPECTIVES, THEMES AND                         ...
ECOSYSTEM: ANOTHER VIEW OF EXTERNAL DATASTRUCTURING EXTERNAL DATA AROUND PERSPECTIVES, THEMES                             ...
ECOSYSTEM An initial knowledge map of banking from 1200 websites                                              Source: Bear...
EXTERNAL DATA STRUCTURING          TOP RIGHT IS THE EMERGING SPACE              SOCIAL                                   M...
ECOSYSTEMS      Knowing     markets and     competitors
Perception management   Online references to Android and   IPhone October 2008, Jan 2009  The growth of the Android operat...
ECOSYSTEMS        IDENTIFYING AND           MANAGING     PARTNERSHIPS        FOR INNOVATION
Scaled partnerships – THE API SPACE  Media          Retail         Auto         Mobile       Banking  New York       Zappo...
Disruptive innovation Paypal apps program - future of money threatens banks with newbusiness models, already evident in   ...
THE INTERNAL ECOSYTEMBringing the web into the           bank
Generating unstructured dataGrowth of internal networks   (Intranets, communities, wikis,     content, word files, plannin...
Internal processesUNSTRUCTURED DATA CREATESUNCERTAINTY AND DRIVES POOR DECISIONMAKING, CREATING AT LEAST A 40% LOSS INREVE...
Solutions to information discovery issues           From structure                                          To text indexi...
A solution lies in data flow                                           Give people enough                                 ...
PUTTING INSIDE AND OUTSIDE TOGETHER      AN EXAMPLE
EXPERIMENT WITH SOME CLASS OF CUSTOMER What can we know from the Web?                                            Trusted  ...
EXPERIMENT WITH SOME CLASS OF CUSTOMER What can we know from the Web?               Facebook     LinkedIn                 ...
EXPERIMENT WITH SOME CLASS OF CUSTOMER  boughtassociated products                   Credit                   scores       ...
EXPERIMENT WITH SOME CLASS OF CUSTOMER         What can we know from internal                             sources ?EVEN SM...
Enterprise social network as an incubator of the SME loan                            project                              ...
The wider payoffWhat aboutinnovation?
Identifying unmet custodial or transactional needs                                                         Staff          ...
Adaptive process for adaptive timesCONCLUSIONS
ConclusionsYou cannot imagine what customers want because  their ecosystems are fast evolving – technology and new  wants ...
Conclusions  Embrace the ecosystem Map the surrounding worldTake a proactive approach to      what you can know Be ready f...
The ENDHaydn Shaughnessy haydn@cogenuity.com
Upcoming SlideShare
Loading in...5
×

Haydn shaughnessy on banks and ecosystems

426

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
426
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
9
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Haydn shaughnessy on banks and ecosystems

  1. 1. Adaptive Processes for Adaptive TimesUsing the web to its full in the banking sector Haydn Shaughnessy
  2. 2. Some driversTHE INTERNET IS SO BIG ANDPERVASIVEand SO embedded in our behaviour IT CHALLENGES US TOCHANGE THE WAY WE THINK OF OTHERPERVASIVE INFLUENCES.... LIKE THE BANK
  3. 3. agenda Disruption factors The Changing Business Ecosystem Mastering the InternetBringing the Internet into the Organization
  4. 4. Haydn ShaughnessyResearch and consult on:Global trendsData structuring and improving intelligenceTransitioning the enterpriseWrite atHBR.org,Wikinomics.comGigaOmInnovation Management
  5. 5. Disruptive innovation and new platforms DISRUPTION Mobile Internet Customer empowerment Better data
  6. 6. Disruptive innovation and new platforms Smartphone penetration Anticipated penetration 50% by end 2011 2014 anticipate 5 billion devices globally connected to the web Sources, ComScore and CISCO
  7. 7. Disruptive innovation in mobilePeople using smart Smart phones phones use social accelerate and networks more than broadenregular Internet users online social 31% interaction The customer ecosystemSource: ComScore
  8. 8. A DECADE OF CUSTOMER EMPOWERMENT Time in social networks is time spent building customer-to-customer relationships in ecosystems and time not spent with brands The customer ecosystem
  9. 9. So more companies choose to be in the customer ecosystem Other From To destination participation Joining the customer ecosystem
  10. 10. ECOSYSTEM behaviourEVERYDAY IN THEENGLISH LANGUAGE:500,000 BLOG POSTS50 MILLION TWEETSINNUMERABLESOCIAL NETWORKPOSTS An unprecedented source of intelligence
  11. 11. THE INFORMATION OPPORTUNITY IS GROWING Global mobile data increase 39- fold increase from 2009 to 2014, at a compound annual growth rate (CAGR) of 108 percent, much of it generated by social web activity. Source: CISCO
  12. 12. THE OPPORTUNITY IS GROWING INTERNALLY TOO Enterprise Data Compound annual growth, transactional data 21% Compound annual growth, unstructured data 67% Source: IDC
  13. 13. The problem of structured data US financial institutions customer data deteriorates at the rate of at least 3.5% per month Source: Insight Ecosystems
  14. 14. UPSIDEMORE OPPORTUNITIES TOCONNECT WITH AN EVERWIDER RANGE OF PEOPLEMORE OBJECTIVE DATA,UNTAPPED BY COMPETITORS
  15. 15. CONSEQUENCESTHE GROWING QUANTITY OFUNSTRUCTURED DATA ONLINE ANDINTERNALLY THREATENS DECISIONMAKING BECAUSE OF ITS COMPLEXITYData deteriorates quickly so needsto be circulated quickly if it is tohave valueEMPLOYEES NEED MORE SUPPORTIN DEALING WITH COMPLEXITY
  16. 16. Adaptive process for adaptive times theecosystem
  17. 17. The EcosystemThe porous organization or theopen enterpriseOpen innovationInnovation takes place organicallyacross companies andcommunities
  18. 18. Growth of ecosystem conversations Source: Haydn Shaughnessy, Bearing Consulting, Global Attitudes Project April 2010
  19. 19. DEALING WITH COMPLEXITY New ways to Collaborate Communicate Innovate
  20. 20. A partial view of the mobile ecosystem or distributed enterprise h/ware- OS Tools s/ware interface developers developers Apps developers Function developers Ecosystem brands Supply Mobile Nokia advertising chain Services revenues End-user communities Ovi Apple Apps Geodata/AR store Location Content AR Google Search Maps based developers Operators content services Solutions ecosystem Home Embedded Device device device sales markets markets 20 |
  21. 21. The broader financial ecosystem Though banks tend not to think in terms of ecosystems, the ecosystem exists Distributed Green Regulatory enterprises ecosystem Corporate ecosystem Policy Disruptive Municipal receipts data CarbonOpen data Exchange Bank Receivables ecosystem ecosystem Subscription Attitudes economy Trusted services Property market Equity analyst Transaction ecosystem 2.0 Customer ecosystems Risk impacts Social payments
  22. 22. Growth of customer ecosystems in general Customers have shown themselves over a decade to want to contribute to their own and each others experiences through ecosystems
  23. 23. Growth of customer ecosystems in general OVER 2/3rds of Netflix video rentals come thru the recommendation system Netflix prize offered $1 million for a 10% improvement in it
  24. 24. Social media200 banks globallynow blog. Only oneseems to realise thatbanks, to customers,are rather boring.... The customer ecosystembut cricket is not.
  25. 25. Growth of personal finance ecosystems
  26. 26. BENEFITS CUSTOMER ECOSYSTEMS allow you to connect with customers where they are doing things they like. Allow you to observe behaviour AND build great data to give staff more confidence in their work. Correlate that data with customer acquisition and life-cycle management models
  27. 27. Some wordson HOW 27 |
  28. 28. Enabling and supporting people through what we know What we can know - about customers, competitors, markets is changing
  29. 29. PEOPLE and the role of good data Hierarchy of Knowledge Needs Accessible and Timely available immediatelyChannelled to theright people for the Appropriateright task Contextualised Coupled to other data of relevanceInformation is fromknown sources Trustworthy Research shows when data delivers to all 4 of an employees needs it can have a 40+% impact on the quality of decisions
  30. 30. LETS LOOKS AT THAT INTHE EXTERNAL WORLD – OUT ON THE WEB
  31. 31. THE DATA PROBLEM AND OPPORTUNITY 10S OF MILLIONS OF DATA UNITS INTERNALLY AND EXTERNALLY HOW TO structure CONTEXTUALISE AND CHANNEL IT
  32. 32. ECOSYSTEM: Structured knowledge PERSPECTIVES THEMES CONCEPTS TOPICS Why bother? Structure is easy to comprehend, add to and use End-users have needs and desires that market research does not tap in to and you cannot imagine Analysts use out of date material
  33. 33. ECOSYSTEM: Structured knowledge HEAT MAP OF OFFICIAL BANK BLOG THEMES GLOBALLY Source, Bearing Banking KPIs project Note the absence of customers
  34. 34. ECOSYSTEM: ANOTHER VIEW OF EXTERNAL DATASTRUCTURING EXTERNAL DATA AROUND PERSPECTIVES, THEMES AND CONCEPTS related to banking local loans community government service Count business Likelihood Percent customers industry assets stock 0 10 20 30 40 50 60 70 TOP TEN EMERGING CONCEPTS DICUSSED BY BANKS AND CREDIT UNIONS SOURCE: BEARING KPI STUDY Likelihood % is the relevant concept = how likely they are to co-occur with the term bank taking into account their relative presence in the text, i.e. a small number of terms can still be very likely to co-occur.
  35. 35. ECOSYSTEM: ANOTHER VIEW OF EXTERNAL DATASTRUCTURING EXTERNAL DATA AROUND PERSPECTIVES, THEMES AND CONCEPTS related to banking TOP 10 CONCERNS IN CUSTOMER CENTRIC TOP TEN EMERGING CONCEPTS DICUSSED CONVERSATIONS ABOUT BANKING BY BANKS AND CREDIT UNIONS SOURCE: BEARING BANK KPI STUDY SOURCE: BEARING KPI STUDY change local free loans fees community business government credit service Count Count online Likelihood business Likelihood Percent Percent overdraft customers service industry products assets experience stock 0 10 20 30 40 50 60 70 80 0 10 20 30 40 50 60 70
  36. 36. ECOSYSTEM An initial knowledge map of banking from 1200 websites Source: Bearing Banking KPI Project
  37. 37. EXTERNAL DATA STRUCTURING TOP RIGHT IS THE EMERGING SPACE SOCIAL MOBILE FEES MANAGE MENT Source: Bearing Banking KPI Project
  38. 38. ECOSYSTEMS Knowing markets and competitors
  39. 39. Perception management Online references to Android and IPhone October 2008, Jan 2009 The growth of the Android operating systems sales reflects the growth in online references from 1/12 of iPhone to 1/3rd. By March 2010 Android was catching up in market share too.
  40. 40. ECOSYSTEMS IDENTIFYING AND MANAGING PARTNERSHIPS FOR INNOVATION
  41. 41. Scaled partnerships – THE API SPACE Media Retail Auto Mobile Banking New York Zappos NG Connect Apple Paypal Times Guardian Tesco Autoline Nokia Ovi Apple iPhone payments Comcast Netflix Lemon Tree Orange Windows Etsy BMW Samsung Media A-V Networks Cafe press Audi Android Reuters Shopping.com General Droid Motors MTV Fiat Blackberry Networks Skype Ford Handango USA Today VW Horizon (sport and books) Verizon
  42. 42. Disruptive innovation Paypal apps program - future of money threatens banks with newbusiness models, already evident in transaction systems
  43. 43. THE INTERNAL ECOSYTEMBringing the web into the bank
  44. 44. Generating unstructured dataGrowth of internal networks (Intranets, communities, wikis, content, word files, planning documents PDFs, PPTs), call centre records, customer interactions, emailCREATES A WEB-LIKE PROBLEM
  45. 45. Internal processesUNSTRUCTURED DATA CREATESUNCERTAINTY AND DRIVES POOR DECISIONMAKING, CREATING AT LEAST A 40% LOSS INREVENUE IN TRADING ENVIRONMENTS;structured data is lost quickly withoutbeing used Timely Knowledge needs these attributes Appropriate Contextualised Trustworthy
  46. 46. Solutions to information discovery issues From structure To text indexing Simultaneously text search is becoming far better at structuring results
  47. 47. A solution lies in data flow Give people enough opportunities for discovery and sharing, means finding exactly what is needed occurs more oftendiagram:usabilitynews.usernomics.com Good data exploration and usage become content and communications issues
  48. 48. PUTTING INSIDE AND OUTSIDE TOGETHER AN EXAMPLE
  49. 49. EXPERIMENT WITH SOME CLASS OF CUSTOMER What can we know from the Web? Trusted services SaaS Loans ITSmall to MediumSized Business SME Fiscal benefits Bank Green Pension tech issues FP7 What they talk about at Grants any level of granularity Etc
  50. 50. EXPERIMENT WITH SOME CLASS OF CUSTOMER What can we know from the Web? Facebook LinkedIn Sport Small to Medium Social networks IT Sized Business Travel sites Trade Tech. pressPlaces they congregate and Bulletin boardopportunities for engagement EU Cordis retail sites
  51. 51. EXPERIMENT WITH SOME CLASS OF CUSTOMER boughtassociated products Credit scores What can we know from internal Aggregate loan sources ?performance SME Loans Reasons for Non- Sector Manufacturing performance Email profiles themes Geography Retail Local IT Regional
  52. 52. EXPERIMENT WITH SOME CLASS OF CUSTOMER What can we know from internal sources ?EVEN SME needs will be diverse
  53. 53. Enterprise social network as an incubator of the SME loan project An additional data loop Design web pages responsive to DIVERSE Evidence based product and needs – marketing Develop new try multiple versions strategy loanproduct options Participation Participatory strategy Experiment and collateral management collate data development
  54. 54. The wider payoffWhat aboutinnovation?
  55. 55. Identifying unmet custodial or transactional needs Staff also spot SMEs A taking on SaaS U in place of IT loans T O Subscriptions replace leasesEmployees observe need fornew trusted services Trusted servicesBe ready to be surprisedBank offers automated globalcontract validation and custodyservice Online contract validation
  56. 56. Adaptive process for adaptive timesCONCLUSIONS
  57. 57. ConclusionsYou cannot imagine what customers want because their ecosystems are fast evolving – technology and new wants drive them to innovate in their behaviourYou must acquire advantage from knowing more and through participation: the web is a participatory mediumProgress through scaling partnerships freeing yourselves to strategise new opportunities
  58. 58. Conclusions Embrace the ecosystem Map the surrounding worldTake a proactive approach to what you can know Be ready for real innovation
  59. 59. The ENDHaydn Shaughnessy haydn@cogenuity.com
  1. Gostou de algum slide específico?

    Recortar slides é uma maneira fácil de colecionar informações para acessar mais tarde.

×