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What Bank's can learn from Startup's about data

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Once master of their data destiny Bank's find themselves "dwarfed by data" and struggling to compete with the agility of FinTech startups which seem to do more with so much less. This presentation explores the two driving reasons for this and suggests three steps Bank's can take to fix this problem.

Published in: Economy & Finance
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What Bank's can learn from Startup's about data

  1. 1. WHAT BANK’S CAN LEARN FROM STARTUPS ABOUT DATA? @amanwhotweets
  2. 2. Being Big was once an advantage for Bank’s when it came to Data.
  3. 3. But Data got Bigger with more Volume Source: PWC FS ViewPoint
  4. 4. And even Bigger with increased Velocity Source: PWC FS ViewPoint
  5. 5. And almost inconceivably Huge with more Variety Source: PWC FS ViewPoint
  6. 6. BANKS STARTUPS Yet companies much smaller than Bank’s in our universe and are doing better job...
  7. 7. ACCESS For two reasons. INSIGHT
  8. 8. Better Access. 1. Reduced Costs 2. Disruptive Technologies 3. More Scalable
  9. 9. Deeper Insights. 1. Output oriented 2. Fact based decisioning 3. Unconstrained by Data Ownership
  10. 10. Three thing’s Bank’s can do to help themselves Reap what you sow. Be disciplined in what data you collect, analyze, discard and distribute. Experts often possess more data than judgment. Colin Powell
  11. 11. It’s a journey not a destination. Be mission not task oriented in your data journey. The journey is the reward. Steve Jobs Three thing’s Bank’s can do to help themselves
  12. 12. Three thing’s Bank’s can do to help themselves Collaborate as you consume. Driving great insight requires great teamwork with partners and a ‘data ecosystem’ If you want to go fast go alone. If you want to go far go together. African Proverb
  13. 13. THANK YOU @amanwhotweets

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