Digital Bank, May 2014

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Presentation for Punkt Magazine, Switzerland

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Digital Bank, May 2014

  1. 1. Chri kinnerChris Skinner @FSClub and @Chris Skinner             @FSClub and @Chris_Skinner www.thefinanser.com
  2. 2. Sweden Norway (Oslo) Sweden (Stockholm) Scotland (Oslo) Ireland (Edinburgh) England (Dublin) Poland (Warsaw) SlovakiaEngland (London) Austria (Vienna) Slovakia (Bratislava)
  3. 3. Banco Sabadell, Spain, p Barclays Bank, UK Bitcoin, Global d kFidor Bank, Germany First Direct, UK mBank PolandmBank, Poland Moven, USA M‐Pesa, Kenyay Simple, USA SWIFT, Global Th C Cl d Gl b lThe Currency Cloud, Global ©  Chris Skinner.  All rights reserved.
  4. 4. ©  Chris Skinner.  All rights reserved.
  5. 5. Favourable market conditions have created aFavourable market conditions have created a “perfect storm” for the sector Restricted bank liquidity Low interest ratesRestricted bank liquidity (European securitisation, €bn) Low interest rates (average BoE Base Rate) -70% -95% £710bn 8.6%£710bn £240bn 0.5% E-commerce adoption (% retail sales online) Decreasing consumer trust (“banks are well run”) 1975-2008 2009-20132008 2012 (% retail sales online)( banks are well run ) -80% +430% 91% 12% 2004 20141987 2012 19% 2.3% 2004 20141987 2012 Source: AFME, Bank of England, British Social Attitudes survey, Verdict
  6. 6. ©  Chris Skinner.  All rights reserved.
  7. 7. It took 13 years to get two million customers y g using Internet banking; it took just two months  to reach that number for mobile bankingto reach that number for mobile banking.    [Barclays Bank] It took 10 years to get twenty million contactsIt took 10 years to get twenty million contacts  per month through Internet banking. It took 18  months for mobile [Société Générale]months for mobile.    [Société Générale]
  8. 8. Bank of America spent almost $500 million on  bil & i i th t 3 4mobile products & services in the past 3‐4 years Commerzbank will invest €220 million to upgrade   mobile and online banking in the next 2 3 yearsmobile and online banking in the next 2‐3 years HypoVereinsbank (Unicredit) will spend more  than €300 million to transform into a leadingthan €300 million to transform into a leading  multichannel bank by 2016
  9. 9.                                                                                                                                                                                                                        
  10. 10. Connected Cars ©  Chris Skinner.  All rights reserved. Connected TVs
  11. 11. The 21st century internet is asy transformational as electricity in the last centuryin the last century
  12. 12. The 21st century internet is asy transformational as electricity in the last centuryin the last century Connecting humans to theConnecting humans to the internet is the war for business this centurybusiness this century
  13. 13. ©  Chris Skinner.  All rights reserved.
  14. 14.            
  15. 15. Opus Research predicts that the global number of registered voiceprints will increase  f 10 illi t 25 illi i 2015 d h f thi ill b b th ©  Chris Skinner.  All rights reserved. from 10 million today to over 25 million in 2015, and much of this will be driven by the  payments markets.
  16. 16. Agricultural Revolution … coins Industrial Revolution troltd.com … notes and checks www.balat Service RevolutionService Revolution … cards Information Revolution hi… chips
  17. 17. Over 80 percent of Tencent’ revenue comes from value added services that usersOver 80 percent of Tencent s revenue comes from value‐added services that users  pay for using QQ coins (币, Bì) QQ’s virtual currency. Tencent introduced QQ coins in  2002, and the currency has since become the main driver of China’s virtual goods  market, valued at about US$5 billion in 2009.
  18. 18. Mone is usty j datadata            
  19. 19.            
  20. 20. FindingFinding value in he Datain the Data            
  21. 21. More than 2,500,000,000,000,000,000 bytes of data (2.5 exabytes) are produced  every day:every day: • People send more than 144.8 billion Email messages sent a day. • People and brands on Twitter send more than 340 million tweets a dayPeople and brands on Twitter send more than 340 million tweets a day. • People on Facebook share more than 684,000 bits of content a day. • People upload 72 hours (259,200 seconds) of new video to YouTube a minute. • Consumers spend $272,000 on Web shopping a day.Consumers spend $272,000 on Web shopping a day. • Google receives over 2 million search queries a minute. • Apple receives around 47,000 app downloads a minute. • Brands receive more than 34,000 Facebook ‘likes’ a minute., • Tumblr blog owners publish 27,000 new posts a minute. • Instagram photographers share 3,600 new photos a minute. • Flickr photographers upload 3,125 new photos a minute. • People perform over 2,000 Foursquare check‐ins a minute. • Individuals and organizations launch 571 new websites a minute. • WordPress bloggers publish close to 350 new blog posts a minute. • The Mobile Web receives 217 new participants a minute.            
  22. 22.            
  23. 23. The entire works of William Shakespeare  (i(in text form)  = 5 MB of data= 5 MB of data = 500 billion Works of Shakespeare a day            
  24. 24. 25 exabytes Valuable SECURE CRITICAL WORTHWHILE IMPORTANT RUBBISH WORTHWHILE 200 zetabytes Erroneous
  25. 25. 25 exabytes SECURE CRITICAL WORTHWHILE IMPORTANT RUBBISH WORTHWHILE   Erroneous
  26. 26. Who will know myWho will know my usernames and passwords? Who will be able to use my facebook, twitter linkedin andtwitter, linkedin and email accounts? Who will haveWho will have access to my eBay, PayPal, Bank and trading accounts?g Who will know about my online life assurance policies, investments and pensions? ©  Chris Skinner.  All rights reserved.
  27. 27. ©  Chris Skinner.  All rights reserved.
  28. 28. ©  Chris Skinner.  All rights reserved.
  29. 29. ©  Chris Skinner.  All rights reserved.
  30. 30. ©  Chris Skinner.  All rights reserved.
  31. 31. People Process TechnologyProcess Technology            
  32. 32. Cloud computing is the next stage in the  Internet's evolution providing the meansInternet s evolution, providing the means  through which all your computing needs can be  delivered wherever and whenever you need it, y , on demand, and paid for just what you use.
  33. 33. A (API) ifi h f iAn Application Programming Interface (API) specifies how software should interact with  each other.  A company provides an API so that other software developers can design  products that are powered by its service.
  34. 34. Visa analysed two years of customer  records, or 73 billion transactions  amounting to 36 terabytes of data, in  13 minutes when processing time  would have taken a month usingwould have taken a month using  traditional methods.
  35. 35. ©  Chris Skinner.  All rights reserved.
  36. 36. Segmentat Distributing Prodion Capab cessingD etencies Chucts bilities ringProc Compe annels Manufactur
  37. 37. Visa analysed two years of customer  records, or 73 billion transactions  amounting to 36 terabytes of data, in  13 minutes when processing time  would have taken a month usingwould have taken a month using  traditional methods.
  38. 38. Retail Banking Private Banking Commercial Banking Private Banking Transaction Banking Investment Banking Insurance
  39. 39. Retail Banking Private Banking Commercial Banking Private Banking Transaction Banking Investment Banking Insurance
  40. 40. Launch of x.commerce API Launch of x.commerce API Launch of mobile API Launch of mobile API
  41. 41. Average Facebook user has 235 friends 2 000 Likes = 470 000 Views2,000 Likes = 470,000 Views Average cost to gain a registration:    €1.33 Average cost to gain a fully KYC processed customer: €16.70Average cost to gain a fully KYC processed customer: €16.70
  42. 42. ©  Chris Skinner.  All rights reserved.
  43. 43. • “I think Chris has added  tremendously to the conversation  with this book and I highly  d ”recommend it.”  • Brett King, author of Bank 2.0 and founder  of Moven • “This is an up‐to‐the‐minute look at  h h ll b k f hthe challenges banks face as the  information age goes into  overdrive ”overdrive.   • Michael Mainelli, Emeritus Gresham  Professor of Commerce at Gresham  C ll L dCollege, London ©  Chris Skinner.  All rights reserved.

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