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Inspiration For Innovation: Considerations For Financial Application Design

Bradley Leimer's slides used in the Backbase webinar 'Inspiration For Innovation: Considerations For Financial Application Design'.

In this Backbase webinar, Bradley Leimer, Vice President, Online and Mobile Strategy at Mechanics Bank and renowned financial technologist and engagement banking proponent discusses customer behavior and related design trends impacting financial application development. He explores topics that are relevant to community banking, financial services, and the changing customer expectations developers now face.

Customer behavior is changing. Expectations are shifting. Technology is accelerating this shift as it acts to alter traditional relationships with our customers as well as the traditional sources of revenue, growth, retention, and customer loyalty. We are moving away from a personal banking relationship to one where the primary relationship is that of utility. Banking becomes something you do through an application, not something you do in a defined location. And those applications better be well designed, because the banking model itself is in jeopardy.

What inspires your teams to innovate and iterate? Why are we not seeing more radical changes in financial application design? While we are still only in the middle stages of this digital transformation, the majority of banks seem destined to be left behind. With the variety of experiences available today, what can we learn from changes in design and customer behavior? What is the role of financial data and identity in this change, and how do we make the concept of big data become a personalized, more meaningful small data experience? If our experience design process were more like Apple, Amazon, Google, or Facebook, what would that look like? Where else should we look for inspiration?

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Inspiration For Innovation: Considerations For Financial Application Design

  1. 1. Inspiration For Innovation 1Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerBradley Leimer leads digital strategy forCalifornia based Mechanics Bank. He bringsadditional perspective from time leadingmarketing and business development teams inthe credit union industry and through a decadedriving big data and database marketing analyticservices for national and regional bank clients.See his thoughts on engagement banking onAmerican Banker, BankNxt, bradleyleimer.comand other financial industry sites.About Bradley LeimerInspirationFor InnovationConsiderations For Financial Application Design
  2. 2. Inspiration For Innovation 2Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  3. 3. Inspiration For Innovation 3Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  4. 4. Inspiration For Innovation 4Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerbradleyleimer.com
  5. 5. Inspiration For Innovation 5Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerInspirationFor InnovationConsiderations For Financial Application DesignWho Are You?Tunneling Through GraniteA Walk In The WoodsThe Hacker Way
  6. 6. Inspiration For Innovation 6Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  7. 7. Who Are You?What Happened To Banking? To Our Customers?Inspiration For Innovation 7Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  8. 8. Kristoffer Lawson,Co-Founder of HolviSource: holvi.comInspiration For Innovation 8Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  9. 9. the banking model isdeaddumb pipesunder siegerecoveringpivotingpoisedgrowingstrongerinnovatingthe banking model isInspiration For Innovation 9Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  10. 10. Inspiration For Innovation 10Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  11. 11. Inspiration For Innovation 11Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  12. 12. Inspiration For Innovation 12Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  13. 13. Inspiration For Innovation 13Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  14. 14. Inspiration For Innovation 14Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  15. 15. banking has changedenvironmenteconomycompetitionregulationmarketingdesigndatacustomeremployeesbehaviortechnologypartnersmodelutilityefficiencyconversationInspiration For Innovation 15Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  16. 16. Source: Source MediaInspiration For Innovation 16Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  17. 17. Inspiration For Innovation 17Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: Source Media
  18. 18. Inspiration For Innovation 18Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  19. 19. Helm BankS. America; Multiple CountriesInspiration For Innovation 19Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: thefinancialbrand.com
  20. 20. Multiple BanksSouth AfricaInspiration For Innovation 20Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: thefinancialbrand.com
  21. 21. Virgin MoneyGuildford, Surrey UKInspiration For Innovation 21Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: thefinancialbrand.com
  22. 22. Barwa BankQatarInspiration For Innovation 22Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: thefinancialbrand.com
  23. 23. State Farm DirectChicago, IL USAInspiration For Innovation 23Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  24. 24. Inspiration For Innovation 24Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: thefinancialbrand.com
  25. 25. TunnelingThrough GraniteStop Banging Your Head Against The WallInspiration For Innovation 25Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  26. 26. Inspiration For Innovation 26Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer2.0Ron Shevlin, Aite GroupFor large scale change tohappen in retailbanking, three elements needto be in place: technologychange, demographicchange, and economicimperative.Source: snarketing2dot0.com
  27. 27. Source: Jessica Hagy, Contributor Forbes 5/2/2012Inspiration For Innovation 27Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  28. 28. Inspiration For Innovation 28Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: The Castle & The Sandbox andcopernicc.wordpress.com , innotribe.com
  29. 29. Inspiration For Innovation 29Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: innotribe.com; The Castle & The Sandbox
  30. 30. Source: The Castle & The Sandbox andcopernicc.wordpress.com; Image: KonstantinInspiration For Innovation 30Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerIf the core business of anestablished company isthe “castle” (wellprotected and built tolast), innovation is bestcarried out in“sandboxes” –environments outside thecastle whereexperimentation withnew ideas and concepts iseasier.
  31. 31. A Walk In The WoodsWhat If Apple, Google, Amazon, or Facebook Ran A Bank?Inspiration For Innovation 31Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  32. 32. Inspiration For Innovation 32Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: apple.com
  33. 33. Inspiration For Innovation 33Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: google.com
  34. 34. Inspiration For Innovation 34Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  35. 35. Inspiration For Innovation 35Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  36. 36. Inspiration For Innovation 36Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  37. 37. Inspiration For Innovation 37Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerSource: amazon.com
  38. 38. Inspiration For Innovation 38Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  39. 39. Inspiration For Innovation 39Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  40. 40. Inspiration For Innovation 40Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  41. 41. Inspiration For Innovation 41Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerMobile
  42. 42. Inspiration For Innovation 42Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerThe New Mobile?Simple, instant, personal UIIntegrated bill pay with alertsPhoto bill payReal-time/actionable alertsUntethered login/mobile onlyVoice/biometric authenticationPIN login/2 factor paymentQuick balance / text tie inNetwork agnostic paymentsNFC/proximity paymentsA2A (real-time option)P2P (instant option)Social/connection paymentsProximity controlsSocial service hooksServices/merchant discoveryMulti-language supportCross-app service launchesIntra-FI transfersDebit/credit card off/on toggleCard orderingMobile RDC/check depositTransaction gamificationMobile PFM/AggregationSafe to spend/budgetP2P and B2P invoicingIntegrated statements/receiptsEmail/personal info editsBasic account openingInsurance/other productsProduct calculatorsContextual offersClick to call / calendar appointmentSecure/contextual chatVideo/Facetime supportVirtual assistant
  43. 43. Inspiration For Innovation 43Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  44. 44. Inspiration For Innovation 44Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  45. 45. Inspiration For Innovation 45Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  46. 46. Inspiration For InnovationBank 2.0 Webinar Series23 April 2013bradley @leimerInspiration For Innovation 46Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  47. 47. Inspiration For Innovation 47Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  48. 48. Inspiration For Innovation 48Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  49. 49. Inspiration For Innovation 49Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  50. 50. Inspiration For Innovation 50Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  51. 51. Inspiration For Innovation 51Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  52. 52. Inspiration For Innovation 52Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  53. 53. Inspiration For Innovation 53Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  54. 54. Inspiration For Innovation 54Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  55. 55. Inspiration For Innovation 55Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  56. 56. Inspiration For Innovation 56Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer
  57. 57. Call to ActionStart Your Own Sandbox, Incubator, Or MeetupTalk To One New Person Outside Your Organization Every WeekStay Focused, Keep Innovating, Keep ShippingTake one idea you had during this presentation and let me know howyou will improve your bank, credit union or financial application.W 510.741.3565M 510.684.1041bradleyleimer@mechanicsbank.com@leimerlinkedin.com/in/leimerbit.ly/pT2MVLpinterest.com/leimerBradley Leimer leads digital strategy for theCalifornia based Mechanics Bank. He bringsadditional perspective from time leadingmarketing and business development teams inthe credit union industry and through a decadedriving big data and database marketing analyticservices for national and regional bank clients.See his thoughts on engagement banking onAmerican Banker, BankNxt, bradleyleimer.comand several other financial industry sites.About Bradley LeimerInspiration For Innovation 57Bank 2.0 WebinarSeries 23 April 2013 bradley @leimerInspirationFor InnovationConsiderations For FinancialApplication Design
  58. 58. Inspiration For Innovation 58Bank 2.0 WebinarSeries 23 April 2013 bradley @leimer

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Bradley Leimer's slides used in the Backbase webinar 'Inspiration For Innovation: Considerations For Financial Application Design'. In this Backbase webinar, Bradley Leimer, Vice President, Online and Mobile Strategy at Mechanics Bank and renowned financial technologist and engagement banking proponent discusses customer behavior and related design trends impacting financial application development. He explores topics that are relevant to community banking, financial services, and the changing customer expectations developers now face. Customer behavior is changing. Expectations are shifting. Technology is accelerating this shift as it acts to alter traditional relationships with our customers as well as the traditional sources of revenue, growth, retention, and customer loyalty. We are moving away from a personal banking relationship to one where the primary relationship is that of utility. Banking becomes something you do through an application, not something you do in a defined location. And those applications better be well designed, because the banking model itself is in jeopardy. What inspires your teams to innovate and iterate? Why are we not seeing more radical changes in financial application design? While we are still only in the middle stages of this digital transformation, the majority of banks seem destined to be left behind. With the variety of experiences available today, what can we learn from changes in design and customer behavior? What is the role of financial data and identity in this change, and how do we make the concept of big data become a personalized, more meaningful small data experience? If our experience design process were more like Apple, Amazon, Google, or Facebook, what would that look like? Where else should we look for inspiration?

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