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Transforming banks into digital natives

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This Backbase webinar will demonstrate how banks can innovate and become digital-first by adopting a more startup-like approach, where failure isn’t frowned upon but embraced. This approach acts as a catalyst for banks, so that they can better meet future challenges and client demands.

Watch the full webinar here: https://www.youtube.com/watch?v=XlYy0cskPTU

Published in: Business
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Transforming banks into digital natives

  1. 1. Becoming Digital Native Tim Rutten - VP Strategy & Jacco Geelkerken - Subject Matter Expert @backbase
  2. 2. Software is Eating the World - The Rise of Digital Platforms Platform Business (scalable) Traditional Business (asset heavy)
  3. 3. Digital Disruption - Software is Eating the World 10 years 10 years 10 years
  4. 4. Digital Disruption - Serious Impact 0 100 Market share Time Incumbent business models New Digital Business models Incumbent business models are threatened
  5. 5. Digital Transformation - Where are we with Banking? 0 100 Market share Time Incumbent business models New Digital Business models Incumbent business models are threatened Banking Today? Today
  6. 6. From 2019 Banking Today Digital (on the side) How do we become a Digital First Bank? To 2025 Mission: Digital First Bank
  7. 7. “The best way to fight disruption is to pre-empt it and disrupt ourselves” Piyush Gupta - CEO DBS
  8. 8. Take the Bull by the Horns...
  9. 9. We need to Change our Culture
  10. 10. Digital Customers - Higher Income / Lower Cost Traditional Digital Higher Income / Customer Higher Profit / Customer Higher Cost-to-serve (absolute) Profit Costs Revenue DBS Investor Report November 2017
  11. 11. Customer Experience Business Model Execution Speed Digital First Mission
  12. 12. Customer Experience Business Model Execution Speed Digital First Mission
  13. 13. “30.000 new products are launched every year and 95% fail.” – Prof. Clayton Christensen, Harvard Business School
  14. 14. “One of the Biggest reasons startups fail is that they simply make a product that no one wants.” – Hannah Augur, Dataconomy
  15. 15. Needed to disrupt the old ways Listen to the customer’s problem Find a solution Create a business case Follow NPD ‘tollgate’ Mass produce Ask for Orders
  16. 16. Faster identification of products that will fail/succeed
  17. 17. Forget ROI, focus on Probabilities Persevere PivotPull SolutionVSROI
  18. 18. Move budget closer to the customer
  19. 19. Culture - Moving to a Startup State of Mind It’s all about The Team Small teams beat big teams Every team has a cross-functional structure at its core Every project starts with the Customer in mind
  20. 20. Shape your Future Act like a Start-up Data Ideas Code BuildLearn Measure
  21. 21. Execution Digital First
  22. 22. Ready to Go Accelerators Monolithic Applications Decoupled Layers Lego Style Building Block Architecture BACKBASE – From Monoliths to Agile building blocks Problem Solution
  23. 23. Connected Experiences Core Systems FINTECH Partners Other Banks & Industries Underlying Systems Orchestrate the Experience Aggregate Value BACKBASE - Digital Platform – Digital Hub Self Directed Human Assisted Smart Assisted
  24. 24. It’s all about reaching Break-Even
  25. 25. and after that Scaling
  26. 26. Customers don’t care if companies don’t care The stuff that is meaningful to people Products The GAP
  27. 27. Who are you today? Don’t create waste AGILE SPRINTS How to Fast Track your Digital Transformation Journey? Digital Transformation
  28. 28. Design Sprint PROTOTYPING Building Minimal Viable Product Running the Pilot EXPERIMENTS Pivot/Persevere? DEFINE EMPATHIZE Roll-out and Scale Up
  29. 29. Design Sprint Building Minimal Viable Product Running the Pilot EXPERIMENTS Pivot/Persevere? Roll-out and Scale Up LEARN BUILD MEASURE
  30. 30. Design Sprint Building Minimal Viable Product Running the Pilot Roll-out and Scale Up LEARN MEASURE Product Market Fit Business Model Fit BUILD
  31. 31. Design Sprint Building Minimal Viable Product Running the Pilot LAUNCH Roll-out and Scale Up
  32. 32. Design Sprint PROTOTYPING Building Minimal Viable Product Running the Pilot EXPERIMENTS Pivot/Persevere? DEFINE EMPATHIZE LAUNCH Roll-out and Scale Up BUILD LEARN MEASURE Product Market Fit Business Model Fit LEARN MEASURE BUILD
  33. 33. Extend (Native) Widget + Capabilities Adopt Build Agile at Scale : Cookbooks / Best-Practices (Native) Widget Capabilities + + (Native) Widget Capabilities
  34. 34. UX Designers Design System Digital Marketer Content & Campaigns Business Engineer Process Digitization DevOps Engineer SDLC App Developer SDK | API Agile at Scale : Empower Digital Teams
  35. 35. Web SDK Native iOS SDK Native Android SDK Services SDK Agile at Scale : Developer Tooling (SDKs)
  36. 36. Agile at Scale : Common Gameplan Squad 01 Squad 02 Squad 03 Squad 04 Squad N UI/UX Back-endFront-end Mobile
  37. 37. Squad 01 Squad 02 Squad 03 Squad 04 Squad N UI/UX Leader Back-end Leader Front-end Leader Product Leader Agile at Scale : Accelerate Consistent Decision-Making
  38. 38. Who are you today? Who do you want to be by 2025? AGILE SPRINTS Fast Track your Digital Transformation Journey Digital Transformation
  39. 39. Key Takeaway
  40. 40. Becoming Digital Native Solve Real Customer Problems Remove Any Friction Apply Agile at Scale
  41. 41. Culture - Moving to a Startup State of Mind It’s all about The Team Small teams beat big teams Every team has a cross-functional structure at its core Every project starts with the Customer in mind
  42. 42. Customers don’t care if companies don’t care The stuff that is meaningful to people Products The GAP
  43. 43. Q&A
  44. 44. Thanks! Tim Rutten - VP Strategy & Jacco Geelkerken - Subject Matter Expert @backbase

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