Competitive advantages of Air Banking

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My presentation for Sheshunoff on the Competitive Advantage of Air Banking. Description: Will your financial institution be prepared when bricks give way to clicks?

We've all seen the commercials about businesses moving to the cloud, but financial institutions have another storm to weather. As traditional banking evolves, what affect will new technology have on the relationships we have with our customers?

Customers banking expectations are definitely shifting and this discussion will include what some businesses and banks are doing to cater to a banking experience in the clouds. The conference agenda includes:

· Defining banking in the clouds
· Analyzing this shift as revolutionary or evolutionary for our institutions
· Preparing for conversation changes with your customers
· Optimizing the use of social media
· Evaluating current branch effectiveness
· Incorporating the latest technological solutions

Published in: Business, Economy & Finance
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Competitive advantages of Air Banking

  1. 1. Competitive Advantages of Air Banking
  2. 2. Enterprise Compliance Management About Us• Enterprise Grade• Vendor Management• Consumer Compliance• Gramm-Leach-Bliley Act• Business Continuity• FFIEC (IT Handbooks)
  3. 3. PresenterBrad Garland CEO, RiskKey.com
  4. 4. 4 • Evolutionary or Revolutionary? • Changing the conversation • Technology & Compliance • Banking Game Changers
  5. 5. “The Cloud”Evolutionary or Revolutionary?
  6. 6. Technological Cultural
  7. 7. Technological Shift
  8. 8. Locations - 70s Machines - 80s/90sPeople - Today Documents - 90s/00s
  9. 9. Fast forward Innovation4th century 1896 1920s Last 15 years!Newspapers Radio TV Blogs/Podcasts Google Facebook Twitter DVR/Tivo Xbox/Wii
  10. 10. Cultural Shift
  11. 11. NewsInformationMass MediaAdvertising Data
  12. 12. News BlogsInformation Wiki’sMass Media Video/PodcastsAdvertising Personal Reviews Data Niche Content
  13. 13. ‘Cloud’ adoption increases Technology iseasier & cheaper
  14. 14. Changing theconversation
  15. 15. Translate it to banking please?!
  16. 16. Banking in the Clouds• Anywhere/Anytime• Improved Reliability• Still Secure• Big or small? Don’t care.
  17. 17. Checking volumes on the decline
  18. 18. You’re doing it, too!• Outsourced Cores• Branch Capture• Virtualization• VoIP Phones• Mobile Access
  19. 19. Technology &Compliance
  20. 20. A Plan for Success• Executive Buy-in• Risk Assessment• Develop Policies• Train & Monitor
  21. 21. • Don’t overcomplicate• Plan for adjustmentsas you go• Train, train, andretrain!
  22. 22. BankingGame Changers
  23. 23. NewAccounts
  24. 24. MerchantProcessing
  25. 25. SavingsAccounts
  26. 26. MobileBanking
  27. 27. Personal FinanceManagers
  28. 28. PFMs forBusiness
  29. 29. P2P Lending
  30. 30. Investments
  31. 31. Recap• Banking is changing • Decentralized, Real-time• Social Media has its pro’s and con’s• Research latest technologies (Finovate or Techcrunch)• Prepare for the moving target
  32. 32. Thanks!Q&A Brad Garland brad@thegarlandgroup.net

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