The document discusses the opportunities and challenges facing traditional banks from new digital start-ups. It notes that start-ups can build banks around tomorrow's customers without legacy technology issues. However, it also argues that incumbents are not out of the game and can succeed by inspiring leadership through visits to innovative companies, conducting rapid prototyping projects to redesign customer processes, and industrializing an innovation culture across the organization.

1. Truly customer-centric banking
and the importance of stability
in a digital age
Nick Bailey

2. 2005
InaugurationofPopeBenedictXVI
2013
InaugurationofPopeFrancis
Our new world

3. Progress
Time
The
Opportunity
Gap
Technology
Business
The speed of disruption

4. The start-up banks

5. The start-ups’ advantage
Building a bank around tomorrow’s customer
…without the burden of yesterday’s technology

6. Yesterday’s
technology
fights back
An overnight batch failure
on 19 June 2012 at Ulster
Bank resulted in…
700,000
Customers impacted
10 day
Delay to customer
balances

7. It’s all still to play for…
Start-ups don’t have a monopoly on innovation or customer
centricity. There are three steps that any incumbent business
can take to set themselves up for success

8. Inspiring the leadership
Executive visits in Silicon Valley and London that showcase
the art of the possible
1

9. Design thinking and
rapid prototyping pilot
customer projects
Deploying design thinking and rapid prototyping to
redesign a legacy bank’s customer on-boarding process
– in days, not months
2

10. Design thinking and
rapid prototyping pilot
customer projects
2
Day 3
Initial Customer
Testing
Day 1 Day 2
Team
Training
Product
Prototyping
Iterate Launchable
demo
After 2 weeks

11. Industrialising an
innovation culture
Re-imagining the digital capability of a leading insurance
company – industrialising design thinking and rapid
prototyping techniques across the organisation
3