Bank 2.0, The emergence of a new era
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Bank 2.0, The emergence of a new era

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A new era in banking is underway. Social networking based innovations together with mass education on the use of technology have resulted in a new paradigm for managing money. ...

A new era in banking is underway. Social networking based innovations together with mass education on the use of technology have resulted in a new paradigm for managing money.

Check www.builttothrive.com and
www.systemiclogic.com

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Bank 2.0, The emergence of a new era Bank 2.0, The emergence of a new era Presentation Transcript

  • Emergence of Bank 2.0 a brief view on a new world Dr. Jay van Zyl www.BuiltToThrive.com www.SystemicLogic.com Radical Ideas | Practical Implementation
  • Towards a New Landscape Radical Ideas | Practical Implementation
  • BANK 1.0 Radical Ideas | Practical Implementation
  • Signs of Change? Emergence of habitual based banking More interactions, more often Radical Ideas | Practical Implementation
  • The “service” era... human or machine? What I say What I do Surprise me... Out of only 16% that switched... Radical Ideas | Practical Implementation
  • Translate innovation into action... Reputation for innovation creates visibility Capture value though enlightenment Radical Ideas | Practical Implementation
  • The potential to enlighten... re-Emergence of social interaction re-Defining the financial experience Radical Ideas | Practical Implementation
  • Banking Historical View Industrialize Mass Mass Networked Social Web 2.0 Crowds Production Automation World Networks 1800’s 1950’s 1980s 2000’s 2005 2007 2009 Passbook Credit Debit Internet Social Visa Social Card Card & Mobile Lending Microtag Banking Banking Adoption Radical Ideas | Practical Implementation
  • BANK 2.0 Radical Ideas | Practical Implementation
  • The Evolution of Strategic Paradigms View of Customer BANK 2.0 Co-producer Configurable (crowds) Social Systems Source Customer base Management Receiver (market)‫‏‬ Industrialism Critical Production Relationships Organization of competence Value Creation Ref: Reframing Business Adapted from Richard Normann Radical Ideas | Practical Implementation
  • The Future: Banking Process  Bank 1.0  Processes are internal, and orchestrated by salaried personnel. Confidentiality and privacy of all information is paramount in this model.  Bank 2.0  Process of loan and investment evaluation is crowdsourced to community.  The firm is responsible to make the right information available to facilitate processes, yet maintain confidentiality on the rest.  The firm must provide processes to validate reputation, to support community interaction. Radical Ideas | Practical Implementation
  • The Future: Distribution Channels  Bank 1.0  Channels are self owned, including online banking, etc  Bank 2.0  No centralised channels. Customer acquisition, and retention is increasingly viral in nature.  ...provide the right flow of information between members.  ...culture has to be open and transparent, to engender trust, and promote customer advocacy.  Everyone in the firm is an advocate, as are all customers. Radical Ideas | Practical Implementation
  • The new Banking Landscape... Radical Ideas | Practical Implementation
  • Evolution of Social Banking Money Payment Management Solutions Personal Business Social Social Loans Loans Social Investing Radical Ideas | Practical Implementation
  • Emerging Signs on the Business Landscape Radical Ideas | Practical Implementation
  • SOCIAL NETWORKS PARTICIPATIVE CUSTOMER OBSESSIVE EXECUTION Radical Ideas | Practical Implementation
  • SOCIAL NETWORKS Radical Ideas | Practical Implementation
  • Social Network Adoption Radical Ideas | Practical Implementation
  • Social Network Adoption Radical Ideas | Practical Implementation
  • Social Network Acceleration Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Credit card hacking, so easy? Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • PARTICIPATIVE CUSTOMER Radical Ideas | Practical Implementation
  • New social order developing… Radical Ideas | Practical Implementation
  • Experimenting with Avatars Banking Conference agenda in Second Life: 1. Introductions: 2. Overview of current events/financial Market 3. Brief overview regarding banking in sl a. What is banking in sl b. Safety & Liquidity c. Private Insurance 4. Need for Regulation or at the very least independently verified transparency. Radical Ideas | Practical Implementation
  • Challenging the Norm...  Mobile Payments  (OboPay, PayPal)  Financial Management and Analysis  (Mint.com, Wesabe, Geezeo)  Account Aggregation  (Yodlee, CashEdge)  Bill Pay  (Billeo) Radical Ideas | Practical Implementation
  • Mobile Payments Radical Ideas | Practical Implementation
  • Financial Management & Analysis Radical Ideas | Practical Implementation
  • Account Aggregation Radical Ideas | Practical Implementation
  • Technology to Bypass Banks  P2P Lending  (Kiva, LendingClub, Virgin Money, Prosper)  Online Payments  (Google Checkout, Amazon Payments)  Social Money  (Buxfer) Radical Ideas | Practical Implementation
  • Peer-to-Peer Lending Radical Ideas | Practical Implementation
  • Radical Ideas | Practical Implementation
  • Social Money Radical Ideas | Practical Implementation
  • Social Money Radical Ideas | Practical Implementation
  • OBSESSIVE EXECUTION Radical Ideas | Practical Implementation
  • Mobilised Capability Radical Ideas | Practical Implementation
  • ICBC bought 20% of Standard Bank recently for R36.7billion (about $6-billion). The deal is the largest investment by a Chinese bank outside China. ...currently the world's largest bank in terms of market capitalisation, worth some $319-billion Standard Bank group is the African continent's largest lender, with over R1-trillion in assets (approximately $156-billion) and a market capitalisation of R145-billion ($21-billion). Radical Ideas | Practical Implementation
  • Engage to Surprise: Scion.com Radical Ideas | Practical Implementation
  • Idea Ecologies and Customerization: Where are the banks? Radical Ideas | Practical Implementation
  • SOCIAL NETWORKS PARTICIPATIVE CUSTOMER OBSESSIVE EXECUTION The move towards using the shadow and social based organization is driving new forms of innovation in the service oriented organization. Customers co-produce and co-design their experiences with providers though crowdsourcing to ensure optimal fit of offering and expectation. Delivering on the renewed mandates require collective, synchronised and obsessive execution capabilities. Radical Ideas | Practical Implementation