The document discusses innovation in online financial services. It begins by looking at the current state of customers managing their money and how big banks are faring. It identifies converging trends in the industry around economic conditions, customer behavior, technology capabilities, and changing business models. It then examines the competitive landscape for banks and how bank models and channels are shifting. The document outlines 10 insights for digital innovation and provides strategies for banks on multiple levels of business delivery and dimensions of online innovation to adapt and stay relevant in a changing digital landscape.
45. ‘ OLD ECONOMY’ ‘ NEW ECONOMY’ CUSTOMER CENTRICITY YOUR LOCAL FRIENDLY RETAILER NAILED NEW & OLD ECONOMY STUCK IN THE 80s DINOSAURS LOOKING TO SURVIVE DISINTERMEDIATION STAYIN ALIVE CORE VALUES PRIMED
46. ‘ OLD ECONOMY’ ‘ NEW ECONOMY’ TRADITIONALLY CUSTOMER CENTRICITY ?
47. WILL NOT BE ENOUGH. ANYONE CAN DO IT. BUSINESS AS USUAL
Does anyone get it right? Only Ubank are breaking the mould , but others are learning ... Its an interesting piece to understand – how do customers navigate a complicated business like yours? Like a bank?
Does anyone get it right? Only Ubank are breaking the mould , but others are learning ... Its an interesting piece to understand – how do customers navigate a complicated business like yours? Like a bank?