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Fast Forward to the Customer! Payments 2020 – From Vision to Action

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Mark Buitenhek, Global Head Transaction Services of ING, on the EBAday Conference 2015
‘Payments is all about customer experience’

Published in: Business

Fast Forward to the Customer! Payments 2020 – From Vision to Action

  1. 1. Fast Forward to the Customer! Payments 2020 – From Vision to Action Mark Buitenhek Global Head Transaction Services ING
  2. 2. We still have a lot of work to do
  3. 3. How can we empower people and businesses?
  4. 4. Well-known industry challenges Market Growth Technology Regulation Customer Needs
  5. 5. Payments are no longer a bank-only monopoly Reinier Lemmens The introduction of Apple Pay did wake up a few folks in San Jose. So much that eBay announced plans to split up eBay and…
  6. 6. Innovators address: speed, cost and above all user experience.. but still rely on the existing bank-centric infrastructures, adding costs & complexity SPEED COST USER EXPERIENCE New initiatives 1 2 3
  7. 7. PSD2 Implemented 2000’ 2010 2017 2030 ? Payments led by banks and card schemes Payments as part of the shopping experience A shake up will purge the field; only a few will survive The shake-out has already started Banks? PSPs? ACHs? Telco’s Cards? PI’s? Fintech?
  8. 8. How to stay relevant in payments?
  9. 9. A PAYMENT EXPERIENCE LIKE THIS ONE IS BEING REPLACED
  10. 10. BY ALTERNATIVE WAYS TO PAY
  11. 11. Source: Ipsos & ING, International Survey April 2015 – conducted in NL, BE, FR, GER, LUX, UK, AU, CZ, RO, ES, IT, PO, TUR, Australia, US Mobile device owners prefer ‘one click buy’, ease of use, and 84% trust bank apps most
  12. 12. INSTANT - 1 CLICK SIMPLE The user experience is all important: UNIVERSAL TRUST EASY TRANSPARENT PREDICTABLE “a Snapchat experience with Amazon tracking please” ANYTIME
  13. 13. INVESTMENT ACT OPEN! COLLABORATION Deal with Legacy Manage Infusion of Talent Source: Accenture, The Future of Fintech and Banking, 2015 Which critical factors determine success? Behaviourial Winners:
  14. 14. FACING MANY CHALLENGES CUSTOMER FOCUS In summary: RE-INVENTING OPPORTUNITIES!
  15. 15. …or the alternative…
  16. 16. Thank you to speaker Mark Buitenhek, Global Head Transaction Services, ING Thank you for attending! Next up: 11.00 Challenge Speaker: Chris Larsen, CEO, Ripple Labs Plenary Room

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