The leaders in digital banking are more client-centric, tech-savvy, and inclusive—and are fundamentally changing to deliver the best results.
Most banks today want to become digital banking leaders—after all, that's where the customers are. And for much of the past decade as digital banking has taken hold, most leading traditional banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the leaders understand the importance of mobile in a digital strategy, they are developing more agile operating models, and, most notably, they have tackled the need for internal culture shifts (see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly through the end of the decade, all banks will have to adapt to a disruptive model in people and IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even those are facing major changes. In particular, as more customers use their mobile phones and tablets to do their banking, and omnichannel takes hold in financial services, the mobile experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their operating models. In particular, changes in IT, new products and services development, and changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic, profound reset of how banking staff reacts to customer needs. This means thinking customer first, rather than by channel; as one panelist puts it, "Banks think in channels, but customers don't." It means being conscious that small digital players can gain market share faster and in a manner that is more disruptive to traditional banks' models. It means understanding that organizational silos pose significant obstacles to creating new solutions for customers. Most importantly, it means looking inward, changing organizational beliefs and habits to facilitate clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes, becoming more agile, and improving openness in day-to-day business.
- See more at: http://www.atkearney.com/latest-article/-/asset_publisher/lON5IOfbQl6C/content/going-digital-the-banking-transformation-road-map/10192?_101_INSTANCE_lON5IOfbQl6C_redirect=#sthash.oKsJGij3.dpuf
The banking industry’s resilience is being tested as banks navigate through a remarkable 2020 filled with uncertainties. The impact of COVID-19 has been about setting the tone for future operational models. Retail banks have shifted focus towards integrated risk management with a more holistic view of operational risks. Adapting to the new normal, banks have prioritized cost transformation while engaging customers virtually. Incumbents sought to be more responsible within fast-changing environmental conditions and ESG remained a critical focus.
To provide more experiential services, banks are leveraging techniques such as segment-of-one to hyper-personalize offerings while aiming to humanize digital channels for increased engagement. Banks are also revamping middle and back offices, going beyond the front end leveraging intelligent processes. Open X is enabling banks to play on their strengths and use the expertise of ecosystem players. Going forward, banks are poised to become an enhanced one-stop shop by providing consumers value-adding FS and non-FS experiences.
To acquire customers in cost-effective manner, retail banks are tapping value-based propositions ‒ such as POS financing and mortgage refinancing. Further, Banking-as-Service provides incumbents a way to provide their high-value offerings to other players. In preparation for the future, banks will be looking to improve their go-to-market agility by leveraging the benefits of cloud. This analysis outlines the top 10 trends in retail banking for 2021.
Today's customers are fundamentally different from customers of past years as they are harder to acquire, retain, and delight because of the explosion in digital technologies consumers use day to day. New digital experiences are forcing banks to play catch-up and match the innovative and engaging interactions and products — such as mobile payments — that non-banks are offering to those same customers. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed three key themes for digital transformation in the banking industry.
People want a seamless customer experience and smart digital platforms. Banking providers, however, are struggling to complete.
Legacy systems are delaying digital transformations for 77% of financial institutions, and stopping half of them. Agility and streamlined systems are crucial to delivering superb customer experiences, and you need the right digital banking platformto get there.
Our experts, Tim Rutten, the VP Solutions Engineering, and Barry de Leeuw, the Solutions Engineer, discuss the following topics:
* Omni-channel customer experience;
* Open APIs;
* Modular architecture;
* Smart AI-driven banking.
Learn more about the four strategic pillars required to build a future-proof digital bank.
Digital Transformation: What it is and how to get thereEconsultancy
Digital Transformation: What it is and how to get there.
Authored by Econsultancy CEO Ashley Friedlein, this presentation on the topic of 'Digital Transformation', is broken down into six sections covering:
1. Digital Transformation - what it is and recent data and research on the topic
2. Strategy - what a digital strategy should include
3. Technology - the challenges of technology and the skills gap
4. People - looking at organisational structure, culture, roles & responsibilities, environment recquired
5. Process - how to address the speed, innovation and agility required
6. Business Transformation - how digital transformation is actually business transformation
"Digital Banking" by Nikolay Spasov
The presentation was part of the 2016 Digital Marketing Masterclass organized by Interactive Advertising Bureau (IAB) Bulgaria and New Bulgarian University (NBU). The scope of the lecture is to present the current trends in banking and the available technologies that are supporting the industry.
The banking industry’s resilience is being tested as banks navigate through a remarkable 2020 filled with uncertainties. The impact of COVID-19 has been about setting the tone for future operational models. Retail banks have shifted focus towards integrated risk management with a more holistic view of operational risks. Adapting to the new normal, banks have prioritized cost transformation while engaging customers virtually. Incumbents sought to be more responsible within fast-changing environmental conditions and ESG remained a critical focus.
To provide more experiential services, banks are leveraging techniques such as segment-of-one to hyper-personalize offerings while aiming to humanize digital channels for increased engagement. Banks are also revamping middle and back offices, going beyond the front end leveraging intelligent processes. Open X is enabling banks to play on their strengths and use the expertise of ecosystem players. Going forward, banks are poised to become an enhanced one-stop shop by providing consumers value-adding FS and non-FS experiences.
To acquire customers in cost-effective manner, retail banks are tapping value-based propositions ‒ such as POS financing and mortgage refinancing. Further, Banking-as-Service provides incumbents a way to provide their high-value offerings to other players. In preparation for the future, banks will be looking to improve their go-to-market agility by leveraging the benefits of cloud. This analysis outlines the top 10 trends in retail banking for 2021.
Today's customers are fundamentally different from customers of past years as they are harder to acquire, retain, and delight because of the explosion in digital technologies consumers use day to day. New digital experiences are forcing banks to play catch-up and match the innovative and engaging interactions and products — such as mobile payments — that non-banks are offering to those same customers. This IDC research, sponsored by TCS Digital Software & Solutions Group, revealed three key themes for digital transformation in the banking industry.
People want a seamless customer experience and smart digital platforms. Banking providers, however, are struggling to complete.
Legacy systems are delaying digital transformations for 77% of financial institutions, and stopping half of them. Agility and streamlined systems are crucial to delivering superb customer experiences, and you need the right digital banking platformto get there.
Our experts, Tim Rutten, the VP Solutions Engineering, and Barry de Leeuw, the Solutions Engineer, discuss the following topics:
* Omni-channel customer experience;
* Open APIs;
* Modular architecture;
* Smart AI-driven banking.
Learn more about the four strategic pillars required to build a future-proof digital bank.
Digital Transformation: What it is and how to get thereEconsultancy
Digital Transformation: What it is and how to get there.
Authored by Econsultancy CEO Ashley Friedlein, this presentation on the topic of 'Digital Transformation', is broken down into six sections covering:
1. Digital Transformation - what it is and recent data and research on the topic
2. Strategy - what a digital strategy should include
3. Technology - the challenges of technology and the skills gap
4. People - looking at organisational structure, culture, roles & responsibilities, environment recquired
5. Process - how to address the speed, innovation and agility required
6. Business Transformation - how digital transformation is actually business transformation
"Digital Banking" by Nikolay Spasov
The presentation was part of the 2016 Digital Marketing Masterclass organized by Interactive Advertising Bureau (IAB) Bulgaria and New Bulgarian University (NBU). The scope of the lecture is to present the current trends in banking and the available technologies that are supporting the industry.
Facebook-BCG Report on the impact of digital in the Financial Services IndustrySocial Samosa
India is on the cusp of a digital
revolution. With rising internet and
smartphone penetration, the digital
DNA of India is rapidly changing.
The first 100 million ‘digital Indians’
were largely men, millennials and
metro based. However, with higher
adoption among women, lower tier
cities and older age groups, the face of
an average internet user is changing.
They are also engaging in mature
activities, going beyond search and
social networking to online shopping
and banking. In 2013, only 7% urban
internet users with digital age less than
2 years adopted online shopping. This
grew more than four fold in four years.
A similar trend has been seen in online
banking as well.
Also, with increasing smartphone
penetration, the way consumers are
accessing internet is changing. In
2013, only 44% of urban population
preferred mobile for internet access,
but now almost 3/4th prefer mobile.
Find More Case studies at - https://www.socialsamosa.com/category/indian-social-media-case-studies/
This presentation is tailored for organizational leaders who are interested in using digital to gain competitive advantage. It provides a systematic approach for steering the course of your digital transformation journey--from assessing your starting point to framing your digital challenge, focusing investment, mobilizing the organization and finally sustaining the digital transition.
What this guide will focus is not technology implementation, but a company-wide approach to digital transformation. It includes a step-by-step practical guidance for leaders to digitally transform their organizations by showing where to invest in digital capabilities and how to lead the transformation.
The digital transformation framework presented consists of four key phases and twelve detailed steps as well as practical tips to fundamentally improve business performance.
LEARNING OBJECTIVES
1. Acquire knowledge and the key concepts of digital transformation
2. Describe the digital transformation framework, phases and step-by-step process
3. Conduct a self-assessment of your digital mastery
CONTENTS
1. Introduction and Key Concepts of Digital Transformation
2. Digital Transformation Framework, Phases and Step-by-step Process
3. Digital Mastery Self-Assessment
To download this complete presentation, visit:
https://www.oeconsulting.com.sg/ppt-digital-transformation-implementation-guide
The essential elements of a digital transformation strategyMarcel Santilli
Learn more: https://insights.hpe.com
Enterprises can survive digital disruption as well as grow revenue, improve profitability and increase market valuation — if they start rethinking what they do.
Digital transformation. It’s the use of technology to create a better customer experience, improve products and services, and increase the effectiveness of business operations. But it really means what your enterprise must do to adapt and thrive.
Today’s smaller, emerging companies are born digital. They can — and do — change quickly to answer consumer demand or a competitive offering. Larger, mature enterprises must start with a shift in strategy, because all industries will be changed or already have been changed by digital transformation. Many, like news media and publishers, music, video and retail have been or significantly disrupted. Up next: financial services, healthcare manufacturing, insurance, legal, education, utilities and energy. The good news? No industry has been or will be completely upended.
The first step is to recognize that disruption does not have to be a mass-extinction event. Enterprises can survive as well as grow revenue, improve profitability and increase market valuation. Here’s how to start rethinking what you do.
Digital Banking Strategy Roadmap - 3.24.15Calvin Turner
The Digital delivery of banking products and services is already a reality.
Like it or not, your customers will compare their digital banking experience to shopping on Amazon, iTunes, eBay, Southwest Air, etc., and to their digital experiences with large banks that already have robust digital banking offerings.
Traditional banks can’t just push out mobile apps and capabilities to customers and call it a digital banking strategy. Customers expect a seamless integration of the entire online banking experience from initiation to fulfillment. If they are forced to drop off somewhere along the digital experience to print documents, call a representative, and/or visit a branch, you have lost the customer.
Building the 10x better bank, by @joukpleiter & @jelmerdejong
Slides of the November 11, 2015 webinar 'Omni-channel banking & the digital transformation roadmap'.
In this webinar, Jouk Pleiter and Jelmer de Jong of Backbase will talk about building the 10-times-better bank.
The financial services market is going through many changes. New challengers have appeared and are looking for a slice of the market. In addition, customers are more demanding and more informed, expecting convenience and simplicity when it comes to financial services, particularly online and via mobile devices. People love digital services such as Netflix, Amazon, and Uber because they’re easy to use and deliver great customer experiences. They deliver 10 times more convenience and better customer experiences than the status quo, and are therefore winning the market. It’s only a matter of time before the 10-times-better bank is founded, a thought that's on the radar of every banker.
In this webinar, we outline the journey of creating the 10-times-better bank, providing a detailed analysis of how banks can begin their digital journey, with a strong focus on five main points:
1) new competitors in banking: the disrupters
2) customer experience: the key ingredients
3) omni-channel and the changing channel mix
4) mobile's impact on online sales and share of wallet
5) regaining control in the era of digitization
Growing momentum for Disruption in FinTech:
Looking back and looking forward.
Recording of the Backbase webinar of December 18th, 2014.
In our 2014 closing webinar we will look back at the disruptive highlights of this year and we start looking forward to 2015.
From BBVA acquiring Simple, to more and more neo-banks popping up, fintech startups going IPO and omni-channel moving from marketing buzz to the real thing. In this 60 minute webinar, Backbase's Jouk Pleiter and Jelmer de Jong discuss the main trends and best practices for banks and credit unions to keep on disrupting in the digital banking space.
The Backbase webinar slides on Wednesday, 30th March: Embrace FinTech with Jouk Pleiter and Jelmer de Jong.
In this webinar, Jouk Pleiter and Jelmer de Jong of Backbase will talk about how banks turn the threat into opportunity and embrace fintech. Fintech is a hot market. All around the world, startups are launching, challenger banks are formed, and fintech is on everybody's lips. In this free webinar, we reveal how banking and financial services can learn from these new fintech players, and how banks can use fintech companies and fintech vision to accelerate their own digital transformation, with strong focus on:
How to leverage fintech in your digital strategy.
The emerging Banking as a Service (BaaS) model.
The impact of the open fintech API ecosystem.
Initiating rapid business innovation.
Real-world examples.
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a collection of PowerPoint diagrams and templates used to convey 20 different digital transformation frameworks and models.
INCLUDED FRAMEWORKS/MODELS:
1. Ten Guiding Principles of Digital Transformation
2. The BCG Strategy Palette
3. Digital Value Chain Model
4. Four Levels of Digital Maturity
5. Customer Experience Matrix
6. Design Thinking Framework
7. Business Model Canvas
8. Customer Journey Map
9. OECD Digital Government Transformation Framework
10. Accenture's Nonstop Customer Experience Model
11. MIT's Digital Transformation Framework
12. McKinsey's Digital Transformation Framework
13. Capgemini's Digital Transformation Framework
14. DXC Technology's Digital Transformation Framework
15. Gartner's Digital Transformation Framework
16. Cognizant's Digital Transformation Framework
17. PwC's Digital Transformation Framework
18. Ionolgy's Digital Transformation Framework
19. Accenture's Digital Business Strategy Framework
20. Deloitte's Digital Industrial Transformation Framework
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
Top trends in Payments: 2020 highlighted the payments industry’s flux driven by new trends in technology adoption, innovative solutions, and changing consumer behavior. The pandemic has tested the digital mastery of players, who are already grappling with transition. Non-cash transactions are on a robust growth path, accelerated by increased adoption during COVID-19. Regulators are working to instill trust and address non-cash payments risk amid unparalleled growth as players collaborate to quell uncertainty. Regional initiatives, such as the P27 (Nordics real-time payments system) and the EPI (European Payments Initiative), are gaining traction in response to country-level fragmentation and competition.
Investment in emerging technologies is looked upon as an elixir to mitigate fraud, data-driven offerings are being considered for providing value-added propositions, and distributed ledger technology is in focus for digital currency solutions, efficiency enhancement, and cost gains. New players, such as retailers/merchants, are integrating payments into their value chains while technology giants are upscaling their financial services game by weaving offerings around payments as a center stage. Constrained by budgets, firms consider business models such as Platform-as-a-Service (PaaS) to provide cost-effective and superior customer experience.
Our world’s digital landscape is evolving faster than ever before, the only constant is change and most enterprises are struggling to adapt. In this webinar, we deep dive into Digital Transformation – the business strategy that can unlock new, better and bigger growth opportunities for your company.
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
New trends have moved marketing the cusp of a new golden age. To deliver on the promise, marketing needs to execute on the 5S approach: science, simplicity, substance, speed, and story. This presentation walks through what marketers and business leaders need to get right to execute all of them. This presentation is based on a public webinar given by McKinsey partners Jonathan Gordon and Jesko Perrey.
Find out more from our Marketing and Sales practice: http://www.mckinsey.com/client_service/marketing_and_sales
Keynote: The User Experience Strategy behind one of Europe’s largest Digital ...Stefan F. Dieffenbacher
The User Experience Strategy behind one of Europe’s largest Digital Transformations is a presentation that summarizes the digital strategy approach taken for a key bank in Europe.
It takes the reader through three stages:
1. Why was a digital strategy required to start with? Why could the bank no more operate as-is?
2. What was the overall solution and design approach? At this point in time, the Digital Leadership strategy framework is being introduced.
3. How was the actual solution developed across both phases? In the first phase, the presentation talks through the key steps, namely:
3a. customer segmentation
3b. persona development
3c. understanding of user needs
3d. understanding of business needs
3e. developing an overarching vision based on business goals and user needs
3f. Deriving the functional scope - termed at Digital Leadership a Scope Landscape
The second phase then goes on to detail out the solution approach which was basically about detailing out the strategy from phase 1 and validating it in details.
Facebook-BCG Report on the impact of digital in the Financial Services IndustrySocial Samosa
India is on the cusp of a digital
revolution. With rising internet and
smartphone penetration, the digital
DNA of India is rapidly changing.
The first 100 million ‘digital Indians’
were largely men, millennials and
metro based. However, with higher
adoption among women, lower tier
cities and older age groups, the face of
an average internet user is changing.
They are also engaging in mature
activities, going beyond search and
social networking to online shopping
and banking. In 2013, only 7% urban
internet users with digital age less than
2 years adopted online shopping. This
grew more than four fold in four years.
A similar trend has been seen in online
banking as well.
Also, with increasing smartphone
penetration, the way consumers are
accessing internet is changing. In
2013, only 44% of urban population
preferred mobile for internet access,
but now almost 3/4th prefer mobile.
Find More Case studies at - https://www.socialsamosa.com/category/indian-social-media-case-studies/
This presentation is tailored for organizational leaders who are interested in using digital to gain competitive advantage. It provides a systematic approach for steering the course of your digital transformation journey--from assessing your starting point to framing your digital challenge, focusing investment, mobilizing the organization and finally sustaining the digital transition.
What this guide will focus is not technology implementation, but a company-wide approach to digital transformation. It includes a step-by-step practical guidance for leaders to digitally transform their organizations by showing where to invest in digital capabilities and how to lead the transformation.
The digital transformation framework presented consists of four key phases and twelve detailed steps as well as practical tips to fundamentally improve business performance.
LEARNING OBJECTIVES
1. Acquire knowledge and the key concepts of digital transformation
2. Describe the digital transformation framework, phases and step-by-step process
3. Conduct a self-assessment of your digital mastery
CONTENTS
1. Introduction and Key Concepts of Digital Transformation
2. Digital Transformation Framework, Phases and Step-by-step Process
3. Digital Mastery Self-Assessment
To download this complete presentation, visit:
https://www.oeconsulting.com.sg/ppt-digital-transformation-implementation-guide
The essential elements of a digital transformation strategyMarcel Santilli
Learn more: https://insights.hpe.com
Enterprises can survive digital disruption as well as grow revenue, improve profitability and increase market valuation — if they start rethinking what they do.
Digital transformation. It’s the use of technology to create a better customer experience, improve products and services, and increase the effectiveness of business operations. But it really means what your enterprise must do to adapt and thrive.
Today’s smaller, emerging companies are born digital. They can — and do — change quickly to answer consumer demand or a competitive offering. Larger, mature enterprises must start with a shift in strategy, because all industries will be changed or already have been changed by digital transformation. Many, like news media and publishers, music, video and retail have been or significantly disrupted. Up next: financial services, healthcare manufacturing, insurance, legal, education, utilities and energy. The good news? No industry has been or will be completely upended.
The first step is to recognize that disruption does not have to be a mass-extinction event. Enterprises can survive as well as grow revenue, improve profitability and increase market valuation. Here’s how to start rethinking what you do.
Digital Banking Strategy Roadmap - 3.24.15Calvin Turner
The Digital delivery of banking products and services is already a reality.
Like it or not, your customers will compare their digital banking experience to shopping on Amazon, iTunes, eBay, Southwest Air, etc., and to their digital experiences with large banks that already have robust digital banking offerings.
Traditional banks can’t just push out mobile apps and capabilities to customers and call it a digital banking strategy. Customers expect a seamless integration of the entire online banking experience from initiation to fulfillment. If they are forced to drop off somewhere along the digital experience to print documents, call a representative, and/or visit a branch, you have lost the customer.
Building the 10x better bank, by @joukpleiter & @jelmerdejong
Slides of the November 11, 2015 webinar 'Omni-channel banking & the digital transformation roadmap'.
In this webinar, Jouk Pleiter and Jelmer de Jong of Backbase will talk about building the 10-times-better bank.
The financial services market is going through many changes. New challengers have appeared and are looking for a slice of the market. In addition, customers are more demanding and more informed, expecting convenience and simplicity when it comes to financial services, particularly online and via mobile devices. People love digital services such as Netflix, Amazon, and Uber because they’re easy to use and deliver great customer experiences. They deliver 10 times more convenience and better customer experiences than the status quo, and are therefore winning the market. It’s only a matter of time before the 10-times-better bank is founded, a thought that's on the radar of every banker.
In this webinar, we outline the journey of creating the 10-times-better bank, providing a detailed analysis of how banks can begin their digital journey, with a strong focus on five main points:
1) new competitors in banking: the disrupters
2) customer experience: the key ingredients
3) omni-channel and the changing channel mix
4) mobile's impact on online sales and share of wallet
5) regaining control in the era of digitization
Growing momentum for Disruption in FinTech:
Looking back and looking forward.
Recording of the Backbase webinar of December 18th, 2014.
In our 2014 closing webinar we will look back at the disruptive highlights of this year and we start looking forward to 2015.
From BBVA acquiring Simple, to more and more neo-banks popping up, fintech startups going IPO and omni-channel moving from marketing buzz to the real thing. In this 60 minute webinar, Backbase's Jouk Pleiter and Jelmer de Jong discuss the main trends and best practices for banks and credit unions to keep on disrupting in the digital banking space.
The Backbase webinar slides on Wednesday, 30th March: Embrace FinTech with Jouk Pleiter and Jelmer de Jong.
In this webinar, Jouk Pleiter and Jelmer de Jong of Backbase will talk about how banks turn the threat into opportunity and embrace fintech. Fintech is a hot market. All around the world, startups are launching, challenger banks are formed, and fintech is on everybody's lips. In this free webinar, we reveal how banking and financial services can learn from these new fintech players, and how banks can use fintech companies and fintech vision to accelerate their own digital transformation, with strong focus on:
How to leverage fintech in your digital strategy.
The emerging Banking as a Service (BaaS) model.
The impact of the open fintech API ecosystem.
Initiating rapid business innovation.
Real-world examples.
Diving deep into literally millions of interactions and conversations with different networks such as Facebook, Twitter and Instagram, blogs, forums and news sites in order to bring you analytical info about how social media affects different sectors like:Sharing Economy, Banking and Finance, Ecommerce, Telecom and Fintech.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a collection of PowerPoint diagrams and templates used to convey 20 different digital transformation frameworks and models.
INCLUDED FRAMEWORKS/MODELS:
1. Ten Guiding Principles of Digital Transformation
2. The BCG Strategy Palette
3. Digital Value Chain Model
4. Four Levels of Digital Maturity
5. Customer Experience Matrix
6. Design Thinking Framework
7. Business Model Canvas
8. Customer Journey Map
9. OECD Digital Government Transformation Framework
10. Accenture's Nonstop Customer Experience Model
11. MIT's Digital Transformation Framework
12. McKinsey's Digital Transformation Framework
13. Capgemini's Digital Transformation Framework
14. DXC Technology's Digital Transformation Framework
15. Gartner's Digital Transformation Framework
16. Cognizant's Digital Transformation Framework
17. PwC's Digital Transformation Framework
18. Ionolgy's Digital Transformation Framework
19. Accenture's Digital Business Strategy Framework
20. Deloitte's Digital Industrial Transformation Framework
Digital Transformation From Strategy To ImplementationScopernia
Creating a digital transformation strategy is one thing but how do you put the insights and plans into practice. This presentation deals with vision, strategy, roadmap, governance, leadership, channel hacking, start-up-thinking and many more issues.
Top trends in Payments: 2020 highlighted the payments industry’s flux driven by new trends in technology adoption, innovative solutions, and changing consumer behavior. The pandemic has tested the digital mastery of players, who are already grappling with transition. Non-cash transactions are on a robust growth path, accelerated by increased adoption during COVID-19. Regulators are working to instill trust and address non-cash payments risk amid unparalleled growth as players collaborate to quell uncertainty. Regional initiatives, such as the P27 (Nordics real-time payments system) and the EPI (European Payments Initiative), are gaining traction in response to country-level fragmentation and competition.
Investment in emerging technologies is looked upon as an elixir to mitigate fraud, data-driven offerings are being considered for providing value-added propositions, and distributed ledger technology is in focus for digital currency solutions, efficiency enhancement, and cost gains. New players, such as retailers/merchants, are integrating payments into their value chains while technology giants are upscaling their financial services game by weaving offerings around payments as a center stage. Constrained by budgets, firms consider business models such as Platform-as-a-Service (PaaS) to provide cost-effective and superior customer experience.
Our world’s digital landscape is evolving faster than ever before, the only constant is change and most enterprises are struggling to adapt. In this webinar, we deep dive into Digital Transformation – the business strategy that can unlock new, better and bigger growth opportunities for your company.
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
New trends have moved marketing the cusp of a new golden age. To deliver on the promise, marketing needs to execute on the 5S approach: science, simplicity, substance, speed, and story. This presentation walks through what marketers and business leaders need to get right to execute all of them. This presentation is based on a public webinar given by McKinsey partners Jonathan Gordon and Jesko Perrey.
Find out more from our Marketing and Sales practice: http://www.mckinsey.com/client_service/marketing_and_sales
Keynote: The User Experience Strategy behind one of Europe’s largest Digital ...Stefan F. Dieffenbacher
The User Experience Strategy behind one of Europe’s largest Digital Transformations is a presentation that summarizes the digital strategy approach taken for a key bank in Europe.
It takes the reader through three stages:
1. Why was a digital strategy required to start with? Why could the bank no more operate as-is?
2. What was the overall solution and design approach? At this point in time, the Digital Leadership strategy framework is being introduced.
3. How was the actual solution developed across both phases? In the first phase, the presentation talks through the key steps, namely:
3a. customer segmentation
3b. persona development
3c. understanding of user needs
3d. understanding of business needs
3e. developing an overarching vision based on business goals and user needs
3f. Deriving the functional scope - termed at Digital Leadership a Scope Landscape
The second phase then goes on to detail out the solution approach which was basically about detailing out the strategy from phase 1 and validating it in details.
The talk provides a new perspective on leadership in the digital age. Key topics include:
1. Organisational development: changing from a top-down, military-style organisation towards a supportive, adaptive and open organisation. Led by a leader who supports those in contact with the customers as opposed to a director / dictator who dictates from the top.
2. How to lead: Leadership involves setting a direction which people can follow. The author proposes to use the OKR framework (objective and key results), introduced by google, as a basis. The key steps in implementing the same are laid out as follows:
#1 Start defining OKRs to set an example.
#2 Publish immediately, visible for everyone.
#3 Get everyone involved.
#4 OKRs are set jointly only. There is no top-down.
#5 Discussion happens in the team(s) only.
#6 There is no punishment, it is a joint experience.
#7 Ensure everyone is walking in the same direction.
3. Setting a direction & vision: leadership further involves setting a direction. This is ultimately the duty of both the customer and the organisation. Only jointly can a correct vision and direction be determined, else we miss the market requirements.
4. What is strategy in this context: strategy, at it's simplest, is a direction and a verified path how to get there (the later typically referred to as a roadmap). Most strategies are superb in painting a vision, but lack the roadmap aspects of it, so they ultimately fall short of explaining how to realise the vision.
5. How to execute: execution can only be agile. Over waterfall, it has several key advantages:
#1 Customer testing & fast market feedback!
#2 Product doesn‘t need to be fixed for the next 2 years
#3 Limited risk
#4 Significantly faster (if well executed)
#5 Attention: agile doesn‘t mean without a goal
We prefer to step on board when your company is looking to define its long-term strategies. Because that's when we can use the complete playing field - for developing strategies which result in a measurable improvement of your key indicators.
We've developed our own method for reorienting / relaunching digital projects. It takes a holistic approach to all the component parts: right from the business case, user experience and business requirements to the process design, technology and content.
Which is why we work intensively within interdisciplinary teams, make use of our frameworks, draw on our wide range of experience and lead workshops - until we've seen to it that you reach your goals. This process is typically followed by the development of a digital concept.
GE의 디지털 산업 변화 - GE's Digital Industrial Transformation PlaybookGE코리아
많은 곳에서 산업의 디지털 변화에 대해 이야기하지만, 소수의 산업기업만이 실제 변화를 겪고 있습니다. GE가 바로 그런 기업입니다. GE의 디지털 산업 변화 문서에서는 GE가 디지털 산업 변화를 경험하며 얻은 통찰, 공유, 도구, 기술 등을 전반적으로 소개합니다.
While much has been written about the digital transformation
of industry, few industrial companies have undertaken the
daunting work of actually transforming. GE has and is.
This paper provides an overview of the insights, lessons
learned, tools, and techniques that GE acquired through its
own digital industrial transformation experience.
Keynote: why are Innovations critical for Banks & Insurances?
A perspective on the Financial Services industry: the amount of changes will only accelerate.
- Exponential technologies are driving change; convergence of several disciplines from software to devices to biotech
- Our expectations as consumers are set by our online experience from services such as Facebook, Google or Amazon
- Disruption pattern: startups put themselves in-between the customer and the company
(i.e. check24)
- Industry changes leading to further FinTech & InsureTech investments
- Margin pressure: banks & insurrance by the lowest interest rates we have seen in 2.000 years
- User Experience is driving value in a new way – and most startups understand customer-centricity
- Banks & Insurance companies are under pressure because their offering is fundamentally undifferentiated
- Regulators are opening up: i.e. PSD II forces the banks to open up their data; full disclosure of insurance commissions will arrive soon
- Customers don’t want to be ‘told’ anymore: they don’t come to branches anymore - buy how can advice as the key point of sales be digitized?
Banks need to build up digital capabilities based on 5 pillars plus 1 enabling capability:
(1) DATA-DRIVEN DIGITAL INSIGHTS
- Data-driven segmentation & Value Proposition Design
- 360° single customer view
- Customer Experience excellence
- Comprehensive data ecosystem, including 3rd party APIs
(2) CUSTOMER EXPERIENCE EXCELLENCE
- Customer-centric experience design & processes
- Omni-channel experience delivery
- Journey consistent front-to-back, end2end
- Clear brand positioning & brand amplified by a purpose
(3) DIGITAL MARKETING
- Data-driven, real-time segmentation & cohort analysis
- Data-driven customer- life-cycle management
- Targeted digital (performance) marketing
(4) DIGITALLY ENABLED OPERATIONS
- Operations are designed to support customer journeys
- Streamlined and automated fulfillment processes
- Digitized sales and service interactions
(5) SMART TECHNOLOGY SETUP
- Scalable application architecture
- Flexible IT architecture (i.e. SOA) with clear messaging
- Flexible IT infrastructure
(6) DIGITAL ENABLERS
- Digital Talent Management
- Value-driven Organisation & governance
- Test-and-learn culture
We feel honoured McKinsey copied this model in the following article:
Cutting through the noise around financial technology, Feb 2016: http://bit.ly/1Rtz0AF
Digital Transformation Playbook: Guide to Unleashing Exponential GrowthBMC Software
BMC, the global leader in IT solutions for the digital enterprise, has teamed with PSFK, one of the world’s leading think tanks, to develop The Digital Transformation Playbook. This guide provides key insights and actionable steps for business executives and public sector organizations to follow as they seek to enhance customer experiences, processes, and business models through digital transformation. To download a complimentary copy of The Digital Transformation Playbook, visit http://www.bmc.com/playbook.
Whitepaper: Why banks need to move if they want to own banking in the future.Stefan F. Dieffenbacher
1. Executive Summary
Driven by the top Internet players the speed of change in the financial services market is rapidly increasing. To secure their business and generate further growth these Internet players are forced to attack additional markets and the financial services market is one of them.
They will conquer the financial services market by
• utilizing their global customer base and advanced customer intelligence (data),
• by connecting today separated services to an eco system using technology and delivering advanced user experience
• and their ability to move fast.
Their entry point to the financial services market is the offering of payment services to their clients through the use of their mobile devices. Extending the functionality of wallets will challenge classical retail banking’s value proposition as these Internet companies can go far beyond classical value propositions.
Some traditional financial services companies already start to understand that the time for a change has come, as these developments will challenge their core business models in very few years. For the first time, this many large-scale companies are starting to invest in programs in large excess of €500m to become better in digital.
While huge investments are not a sufficient reaction to the challenges of the market, players that will not follow the trend will lose their current position in the next years.
Traditional bank’s service offering and channel mix needs to be further rethought and adapted, followed by a fast-paced execution to respond to today’s quickly emerging reality. Players who are not able to manifest their position in the digital channels soon will be challenged in their existence.
The strategic transition needs to be guided by a short-term tactical approach to seriously start earning money in digital. On top of the pure positive financial impact of such a tactical approach, achieving significant sales through a much stronger public website as well as data-driven up- and cross-selling measures will start a cultural shift within the bank. When executives and employees discover that suddenly the digital channels generate large amounts of money, a movement of change could be kicked off. That would be the basis to understand the urgency and the possibility to develop a guiding coalition – the start of any strong change process.
2. Introduction
We are convinced that banks needs to even further raise their attention to their Digital Channels and some necessary adoptions of their business models to stay long term successful. We have rationalized our analysis and proposed actions by a large body of research and facts, which provide deep evidence and insights in recent market evolutions.
To provide a complete picture we showcase recent alterations and transformations in diverse industries, highlight the changing face of the insurance industry and subsequently dive into an analysis of the banking industry. We cover w
Digital banking: Why are banks not performing as well as they could do?Stefan F. Dieffenbacher
Driven by the top Internet players the speed of change in the financial services market is rapidly increasing. To secure their business and generate further growth the large-scale Internet players are forced to attack additional markets and the financial services market is one of them.
Leading Internet players will conquer the financial services market by
- utilizing their global customer base and advanced customer intelligence (data),
- by connecting today separated services to an eco system using technology
- and their ability to move fast.
Banks will have to react to the digital threads and do their homework. Some of the core actions required to achieve a better positioning in the digital channels are proposed within this slideshare.
Keynote: "Digitale Transformation für Banken - mitspielen oder untergehen"Stefan F. Dieffenbacher
Keynote: "Digitale Transformation für Banken - mitspielen oder untergehen"
Die Keynote ist in zwei große Teile aufgeteilt:
1/ Das Bedrohungsszenario: Teil 1: Die Welt ändert sich
2/ Noch nie war der Appetit nach Innovationen größer - wie können Banken reagieren?
Der erste Teil fasst die Veränderung der vergangenen Jahre zusammen und zeigt auf welche anderen Branchen durch die digitale Revolution sprichwörtlich weggefegt worden sind. Auch groß zu sein reicht nicht mehr aus: "too big to fail" gibt es nicht mehr. Der Vortrag geht folgend auf aktuelle Bankstatistiken ein: kaum jemand besucht heute noch tatsächlich eine Bank und kommt zur Schlussfolgerung: Banken schaffen es noch nicht mit ihren Online Kunden Geld zu verdienen! Das ist aber die wachsende Herausforderung in Anbetracht der Generation X und Generation Y.
Drei Kerngedanken...
1. Wer die Kundenbeziehung besitzt, besitzt das Geschäft und den Gewinn. 2. Banken sind heute ein “low involvement business”.
3. Apple, Google und Co. werden ihre starken Kundenbeziehungen nutzen
um ihre Konkurrenten in den Hintergrund zu drängen.!
Im zweiten Teil wird der Hunger nach Innovationen dargestellt. Aber was ist eine Innovation? Die großen des Internets - Apple, Google, Facebook, AliBaba und Amazon leben und sind vorwiegend durch User Experience Innovationen erfolgreich geworden.
Es braucht einen klaren Ansatz um eine Digitale Strategie zu erstellen und die digitale Transformation zu schaffen. Die 7 zentralen Schritte hierzu werden knapp anhand von Beispielen aufgezeigt:
1/ Stakeholders
Stakeholder identification
Personas
Initial market & competitive analysis
Other inputs to needs
2/ Expected benefits
Departmental inputs
Benefits identification
Benefits breakdown
BI & Analytics review
Initial opportunity identification
3/ Overall direction
Vision
Goals
Business objectives
Project Motivation
4/ Product development
Key user tasks
Cross-channel experience journeys
Scope Landscape
Roadmap
Content org model
Site org model
5/ Costs
Technical architecture
Draft cost breakdown
Initial project plan
Organisational setup post launch
Cost assumptions
6/ Business Case
Business case
Funding options
Business Case presentation
7/ Approach & Plan
Initial draft plan till go-live
Project plan strategy & concept phase
How disruptive Innovation can be realized in Banking & Insurance
Why is this successful?
- results are almost guaranteed due to the funnel
- winning ideas are likely to be AWESOME, because they have seen many iterations
- bad ideas drop out immediately high cost savings
- highly motivated employees
We create new products/services, entire startups or a digital unit for you
With our approach, team, technology and entrepreneurial attitude we identify, validate and evolve business opportunities and quickly turn them into highly profitable businesses – potentially even realizing a disruptive product. We have a proven track record with top market players across a wide range of industries. Talk to us to see how we can develop awesome ideas for your digital future.
We love to design the future – together with you.
1 | Robust Framework
A blend of the best Silicon Valley-proven methodologies forms our comprehensive framework:
Design Thinking
Business Model Generation,
Lean Startup, Lean Marketing, Lean Analytics,
Customer Development,
Agile, Scrum, Kanban …
We guide the project team throughout the process using our framework.
1 | New products, services and disruptive business ideas
We build digital products and services for B2C and B2B that we validate in multiple iterations with your potential customers. In the next stage, we launch the product/service as a Minimum Viable Product (MVP) to validate it by a larger target group and that’s when we start pivoting and tweaking. If customers love the product/service and are willing to pay for it, we consider the product investment ready and that’s when we start growth-hacking the new business. Naturally, all decisions are data-driven.
THIS IS AWESOME - Company Builder
2 | From new departments to entire startups
New products and services lead to:
a new venture as an autonomous business that may later be reintegrated back into your existing organization
a new department within your exiting organization
adoption by an existing department within your organization
You can count on our experience, knowhow and resources every step of the way.
3 | Innovation unit / Digital unit
Talk to us if you want to set up your own innovation or digital unit within your organization. We can get you standing on your own two feet by training you to use our framework and handing over everything you need to run the CATAPULT™ software stack on your own. Technology
With our HR, training and mentoring programs, we’re with you every step of the way until you’re ready to run independently. Talents
Digital transformation report sweden july 2017Ola Reppling
Digital Transformation Report 2017
@Qvartz and Microsoft have interviewed leading Swedish companies in many industries about Digital Transformation and the practical aspects of it. Understanding the What, Why and How of Digital Transformation. There are many commonalities across industries and between companies, but my key take-away is that there is no silver bullet. You can’t use the cookie cutter and use the same solution over and over again. Each company and situation is different and therefor each company approach needs to be different, both in What, How and timing. This report strengthens my view that Microsoft is in a unique position to support our customers as we continue to invest in both our platform, but more importantly, in our customer relationships.
When we are in a strategic partnership with our customers we can really support them in all stages of the Digital Transformation Maturity Curve. Many of our larger customers have different units/divisions that are in different stages of the maturity curve and Microsoft’s flexible, scalable and versatile platform and way of working allows us to support the customer as needed in throughout the company.
The report also reinforces the validity and importance of Microsoft’s four pillars of Digital Transformation: Engage your customer, Empower your employees, Optimize your operations and Transform your products.
The report will give you a benchmark of where Swedish customers are on their Digital Transformation journey and some insights into the What, Why and How.
Digital Transformation - International Days - Artevelde University College - ...Ayman van Bregt
Lecture on digital transformation for students of the Artevelde University College in Ghent, Belgium.
The internet has been around for 25 years and has caused many disruptions. With more disruptions to come, many organizations are seeking for ways to use digital opportunities in a meaningful way creating more value for customers and sustaining their business.
The impact of the development of the Web on marketing and communications and how it causes digital disruption for companies is shown in this talk. With practical examples you will get insights in how organizations can create more value for customers at the same time also the organization can benefit from these efforts. Several digital developments such as mobile, social and 'internet of things' will be presented. Besides the use of theoretical models for digital disruption and digital transformation, some case studies are presented which bring directly applicable tips to take home.
Principles for digital transformation are a changing value proposition, business model, culture, technology and organization.
What banks will have to work on over the next couple of years:
in 2013, bank customers have spent 400 minutes per year in the digital channels, but only 1 minute per year on average in direct contact with their bank advisor. 60% of the European population just never went into any bank branch at all (excluding ATM usage). However 90% of the sales still comes from the branches.
Banks will have to fundamentally address this challenge and see how they can become more relevant to consumers and how to sell online.
This keynote addresses the fundamental issues of banks from three perspectives:
- The challenges the users want to have solved
- The challenges coming from an external, market / competitive environment
- The challenges the business has to solve internally
The presentation is fun and thought provoking containing many fresh ideas on the future of banking. Feel free to get in touch!
Digital Transformation in Banking - Asseco SEE's Survey ReportAsseco SEE
Digital transformation of business implies an integrated use of modern technologies in all business operations. Banking is one of the industries that is very receptive to new technology, e.g. through the use of Internet and Mobile Banking. In order to gain a better insight in the implementation of digital transformation by the banks in the SEE region in selected countries, Asseco SEE carried out the „Digital Transformation Survey in Banking - 2016“. Questionnaires were used to collect information about the digital transformation processes among 140 bankers across Bosnia and Herzegovina, Bulgaria, Montenegro, Croatia, Kosovo, Slovenia, Serbia and other European countries. The results of this survey can be used by banks in the evaluation of their own digital transformation. The report presents the answers to the following five aspects of digital transformation: strategy & challenges, channels, customer experience & engagement as well as banks’ competitors in digital transformation. For an in-depth report, visit digitalbanking.asseco.com
Going Digital: What Banking Leaders Need to KnowCognizant
To compete in the digital era, banks need to embrace data, put customers first and manage organizational change -- three concepts, one payoff. Here's how your bank can put it all together.
Pervasive digital technology is fundamentally changing the retail banking business model. Here's how banking Chief Information Officers (CIOs) need to change in order to lead the digital charge, according to our recent study.
Digital Transformation of U.S. Private BankingCognizant
U.S. private banks need to rethink their business models and accelerate their push to meet the ever-rising expectations of digitally savvy high-net-worth clients.
Digital Marketing in Banking: Evolution and RevolutionCognizant
Proving the effectiveness of bank marketing strategies beyond brand-building has always been a challenge. Now, several converging forces may help propel marketing forward as a revenue source rather than a cost center.
Digital Engineering: Top Three Imperatives for Banks and Financial Services C...Cognizant
Banking and financial services organizations need a blueprint for building modern digital capabilities, reducing technical debt and accelerating cost-cutting via the cloud. Here are some practical strategies for doing that, and examples of organizations achieving success.
Why Banks Must Become Smart Aggregators in the Financial Services Digital Eco...Cognizant
Financial institutions must embrace a partnership-driven approach to remain relevant amid fintech digital disruption, while evolving their capabilities to deliver against tomorrow’s market needs.
Eyes wide shut: Global insights and actions for banks in the digital ageIgnasi Martín Morales
We know what banks want to achieve.
We know how they can achieve it. What we
want to explore further is how close banks
are to achieving their digital goals, both
now and over the next few years. So we
asked 157 senior IT executives, CIOs, CTOs
and other heads of technology spanning
14 primary markets for their thoughts on
digital banking’s potential for today – and
tomorrow. This paper presents the findings
of our study and examines the implications
of our findings for banking technology
executives.
Etude PwC : "Digital Banking Survey" (2014)PwC France
http://pwc.to/1jQNy0n
Le secteur bancaire ne doit cesser d'innover pour continuer de satisfaire les besoins de leurs clients au temps de la digitalisation. Retrouvez toutes les conclusions PwC sur ce sujet.
Asian Private Banks: How to Embrace Digital TransformationCognizant
As Asian investors increasingly use social, mobile and analytics technologies for their wealth management needs, private banks must take a digital approach to more effectively deliver meaningful, high-value-adding interactions and tailored advice.
Digital intervention is a reality in today’s banking business and banks need to adapt and respond to this change to stay ahead of competition. The digital foreground has presented banks with a huge opportunity to attract new customers, lower costs, develop new propositions and business models, as also explore customer value to its maximum. To create a digital environment is now a priority for all banks and they need to undergo considerable investment for complete transformation.
The CII-PwC report titled, Banks taking a quantum leap through digital, released at CII National BANKing TECH Summit by Mr H R Khan Dy Governor RBI, Mr A P Hota MD& CEO National Payments Corporation of India and M S RaghavanChairman & MD, IDBI Bank.
Similar to Going Digital: The Banking Transformation Road Map (20)
Disruptive Innovationen in der FinanzwirtschaftSemalytix
The Largest Independent Payment Infrastructure
- Germany is still extremely cash-driven
- Especially Low-Income Population Extensively Uses Cash
- Germany’s Largest Independent Payment
Infrastructure
- Strong Partner Network Allows for a Rollout of Services
across Europe
von Prof. Dr. Hans-Gert Penzel, ibi research an der Universität Regensburg GmbH
Verändertes Zahlverhalten wird stark im Einzelhandel geprägt
Innovationszyklen im Zahlungsverkehr seit dem Jahr 2000
SEPA als Regulator-getriebener Standard - wird vom Endkunden eher als Bedrohung empfunden
E-Commerce explodiert – und verlangt nach E-Payments
Bei Zahlungen im E-Commerce dominieren die „neuen Oligarchen“
Marktführer PayPal
Retail in africa still the next big thingSemalytix
The African Retail Development Index (ARDI) ranks the top countries in Sub-Saharan Africa for retail expansion. Based on A.T. Kearney's Global Retail Development Index, the ARDI identifies not only the most attractive markets today, but also those that offer the most potential in the future. The 2015 ARDI ranks the leading 15 nations and reconfirms the region’s potential arising from not just oft-discussed markets like Nigeria and Ghana, but also small, dynamic markets such as Gabon and mid-sized but fast-growing countries like Angola.
Bip connected risks investing in a divergent worldSemalytix
A.T. Kearney issued its first Foreign Direct Investment (FDI) Confidence Index® in June 1998, in the shadow of the 1997 Asian financial crisis. Despite jitters following economic collapse in Southeast Asia, businesses saw investment opportunity in the Americas, Western Europe, Russia, and East Asia, and the United States took first place. Here we are in 2015, with the United States first place in the Index again and business executives still tormented by a recent global financial crisis. Today’s investors must account for divergent monetary policies in large developed economies, alongside a surging U.S. dollar and a sustained commodity super-slump. Developed and developing markets alike are moving in unexpected ways.
Yet, amid growing divergence and multiplying risks, there is genuine excitement in the global business community. It starts with the growing belief that the combined strength of the U.S. and Chinese economies—first and second in this year’s FDI Confidence Index—can buoy the world economy while others get back on track. And there is genuine dynamism elsewhere if you know where to look. Numerous countries are opening up long-guarded sectors to privatization and foreign investment. Downturns and fluctuations in other countries are creating opportunities for mergers and acquisitions. And new free-trade agreements are already in place or close at hand, even if the U.S. political environment will continue to frustrate its reliable engagement.
Risk has been a constant since the inception of this Index. The challenge for all global business leaders remains how to think beyond the last crisis while seeking to avoid the next. Those that take a “wait and see” approach often find that their competitors—whether small businesses or country governments—do not hold back in seeking positive growth. Our view is that opportunities abound for those that know where to look, aided by strategic foresight and analysis.
The world is more complicated now than it was in 1997. Global interconnectedness has created a more competitive and complex landscape. Technologies, ranging from unconventional energy extraction to predictive and even prescriptive analytics, are changing the game and increasing the probability of strategic disruption in every sector and corner of the world.
The complexity of risk and opportunity in 2015 underscore the importance of the insights contained in this year’s FDI Confidence Index. As always, we welcome any input you may have regarding the Index, its scope and our analysis.
Nach einem eher verhaltenen Jahr 2013 nahmen 2014 M&A-Transaktionen in der Öl- und Gasindustrie deutlich zu. Angesichts des weiter sinkenden Ölpreises und der Entscheidung der OPEC gegen eine Drosselung der Fördermengen werden 2015 noch intensivere M&A-Aktivitäten in der gesamten Wertschöpfungskette stattfinden. Diese strategischen Deals sind für die Unternehmen wichtig, um Wertzuwächse zu erzielen, sich für kommende Marktturbulenzen zu rüsten und die Wettbewerbslandschaft zu ihren Gunsten zu formen.
Over-the-Top Video (OTTv) in the Middle East: How to Win the MarketSemalytix
With growing demand among Middle East viewers for online video content, new players cast in the Netflix mold are competing with traditional TV companies for a market potentially worth $1 billion by 2020. Around the world, over-the-top video (OTTv) is becoming more mainstream.1 These services as a share of total television viewing have doubled globally over the past 12 months and exceed 30 percent in some developed economies. In the United States, 75 million households have an active OTTv subscription, compared to 32 million just four years ago. Fueling this trend is the emergence of an abundance of user-friendly OTTv services, coupled with the increasing quantity and quality of content available online. Netflix launched its streaming service in 2007. As of April 2014, it was being used by 50 million people in 41 countries. Hulu, the OTTv service from NBC Universal, Disney, and Fox, now has six million paying U.S. subscribers. More pay TV operators are offering multiscreen packages to their subscribers and online-only packages to nonsubscribers in a bid to compete head-on with Netflix and similar services. In the Middle East, OTTv is still nascent by global standards. Fewer than 100,000 homes subscribe to dedicated commercial OTTv services—less than 1 percent of television-viewing households.2 Yet despite the low penetration, interest is strong—as suggested by the popularity of online short video services such as YouTube—and a flurry of new services has emerged (see figure 1). Etisalat introduced its eLife TV app on iOS in 2013, just one year after MBC's Shahid TV app became the top downloaded app in the Middle East App Store. Istikana and icflix, which follow a Netflix model, launched the region's first major standalone OTTv services in 2011 and 2013 respectively. OSN recently followed by announcing the launch of Go by OSN for non-pay TV subscribers. In 2014, beIN SPORTS relaunched its OTT service and began selling multiscreen subscriptions, and MBC partnered with Samsung to launch Shahid on smart TVs. - See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/over-the-top-video-ottv-in-the-middle-east-how-to-win-the-market/10192?#sthash.6QbS8wM6.dpuf
Leaders use procurement to catalyze lasting, superior business performance through excellence in managing categories, suppliers, and teams. The rush to cut costs in the wake of the 2008–09 Great Recession propelled procurement organizations to the forefront at companies around the world. Faced with so much uncertainty, companies raced to shed costs—and procurement rose to the challenge, delivering exceptional results. With this came an increase in procurement's stature, influence, and reach. A.T. Kearney's Assessment of Excellence in Procurement (AEP) 2011 study saw a doubling in the rate of benefits achieved by the procurement functions since the 2008 study, yielding the highest percentage gains seen in the more than two decades since we began conducting this study. In 2011, we projected that this upward trajectory would continue: procurement appeared poised to deliver even greater impact to the business. Our 2014 AEP study finds that while leading companies continued their trajectory, most procurement organizations only sustained the gains in influence and reach made between 2008 and 2011. In short, the typical company may be "wasting a crisis" by not continuing to enhance one of the most powerful levers to improve profitability and competitive advantage. - See more at: http://www.atkearney.de/studie/-/asset_publisher/Rv2vNmilj1Kf/content/procurement-powered-business-performance?_101_INSTANCE_Rv2vNmilj1Kf_redirect=%2Fresearch-studies#sthash.CJibvJBu.dpuf
Nutraceuticals: The Front Line of the Battle for Consumer HealthSemalytix
Nutrition products can be an inexpensive and safe solution to tackle important unmet health needs.
Consumer healthcare has become the battleground where pharmaceutical and consumer goods firms compete for growth. With more people around the world dying from obesity than starvation, poor nutrition is now recognized as a major risk factor for chronic diseases. Most health systems are ill-equipped to deal with this trend.1 Increasingly, patients are being encouraged to take part in their own treatments, and a consumer market has been developing midway between the supermarket-based world of consumer goods companies and the scientific, pharmacy-based world of pharmaceutical firms.2
The front lines of this battle are nutritional products that have been proven to help prevent or cure disease. These "nutraceuticals" present a tantalizing opportunity for breakthroughs to prevent and manage common health problems, offering consumer-focused solutions to issues that are currently addressed only by pharmaceutical interventions—or not at all.3 However, despite being a hot spot for growth, they still suffer from the same challenges as the rest of the sector, with market growth barely keeping up with the rise in gross domestic product.4
In this paper, the third in our Winning the Battle for Consumer Healthcare series, we delve further into the nutraceuticals market to understand the opportunities and barriers to growth. We also look at the successes and challenges faced by both consumer goods and pharmaceutical companies as they struggle to gain the upper hand in this exciting new market.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/nutraceuticals-the-front-line-of-the-battle-for-consumer-health/10192#sthash.Fx04jdM8.dpuf
A.T. Kearney: History of strategy and its future prospectsSemalytix
From The Art of War to The War for Talent, strategy has been evolving for centuries. What we have learned in the past 2,500 years is highlighted here—not only where strategy began but also why it is on the verge of reclaiming its rightful place in history.
Strategy, for most of its 2,500-year history, was one-dimensional. Warmongers were largely focused on avoiding wars by not instigating them and business was mostly focused on building power and monopolies. The past 50 years have more than made up for this one-way view as strategy hit its prime and spewed out countless new ideas and solutions.
But as the strategies piled up so did the complexity, and the chance that any one overall strategy was the answer to ever expanding strategic freedom was trampled in the competitive scramble.
As a result, we are in for some interesting times. Strategy is on the verge of reinventing itself and reclaiming its rightful place at the top of the business food chain. We believe that strategy will come back as a much more powerful guiding force of organizational energy, which we are excited about because it brings "strategy" and "doing" back together again—something we wholeheartedly believe in.
This paper constructs a brief history of strategy within a framework of noteworthy publications. We generalize, simplify, and cut corners, not out of ignorance but to create a holistic overview to show where strategy has been and where we believe it is now headed.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/the-history-of-strategy-and-its-future-prospects/10192#sthash.3JIQGHKj.dpuf
A.T. Kearney: GCC Family Businesses: Unlocking Potential Through Active Portf...Semalytix
Since 2008, times have been tough for family businesses. The antidote: tapping into hidden value.
Like families in general, family businesses seem to function relatively well in troubled times. In fact, many studies show that, in the long run, they perform better than other business models. Key factors for their ongoing success include a management perspective that emphasizes the long term, strong brand and family name recognition, and often a strong focus on the core business.1
But in the Gulf Cooperation Council (GCC), family businesses are trending in the opposite direction.2 During the recent crisis, they have been less resilient than the rest of the economy despite a pre-downturn history of rapid growth and market dominance. Since 2008, the A.T. Kearney GCC Family Conglomerate Index has decreased by 60 points, while the Bloomberg GCC 200 Index has decreased by 40 points, a 20-point performance gap (see figure 1).3 After a tough 2008, GCC family businesses rebounded to some extent (as did the market), but this did not last. As the overall market has trended mostly up, family businesses have trended downward.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/gcc-family-businesses-unlocking-potential-through-active-portfolio-management/10192#sthash.sb692Hgw.dpuf
Educators have long been allured by technology—from radio, film, and television to calculators, VCRs, and PCs. Now it's tablets, document cameras, and interactive whiteboards. With a plan in place, schools can make sure that their investments in digital technology don't go to waste. - See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/the-digital-school/10192#sthash.21c9zgQn.dpuf
Digitization is bringing a sea change to a U.S. healthcare industry already facing waves of uncertainty. By taking the right steps, this can be a major opportunity for industry players.
Forecasting the future of any industry is difficult, none more so right now than healthcare in the United States. There are countless reasons why healthcare will look different in the near future, not least of which being the country's movement toward national coverage. However, digital transformation—the cumulative change that comes when digital technologies are introduced wholesale into an established industry—is poised to have an even bigger impact. For the U.S. healthcare industry, digital technology will be transformational, cutting healthcare delivery costs, eliminating errors through improved electronic medical records, and establishing routinized, evidence-based approaches to treatment.
Digital forces are pulling at the industry and significantly altering services, products, innovation, delivery, and remuneration (see figure). There are digitally integrated healthcare providers, digital medical devices and technologies, and digital delivery and monitoring of home healthcare. In addition, new ideas are emanating from developing markets, agile competitors are embracing technology, and a digital-friendly federal administration is pushing innovation. And don't forget the digital consumer who is used to digital banking, digital retailing, and digital education, and expects digital healthcare.
- See more at: http://www.atkearney.com/paper/-/asset_publisher/dVxv4Hz2h8bS/content/digital-healthcare-or-bust-in-america/10192#sthash.gP6B4uWR.dpuf
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
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Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
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how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Going Digital: The Banking Transformation Road Map
1. 1Going Digital: The Banking Transformation Road Map
Going Digital: The
Banking Transformation
Road Map
The leaders in digital banking are more client-centric,
tech-savvy, and inclusive—and are fundamentally
changing to deliver the best results.
2. 1Going Digital: The Banking Transformation Road Map
Most banks today want to become digital banking leaders—after all, that’s where the customers
are. And for much of the past decade as digital banking has taken hold, most leading traditional
banks have incorporated strong digital strategies.
So what separates the digital banking leaders from the laggards? A new A.T. Kearney study
on digitization, in conjunction with Efma, seeks the answer and finds three main findings: the
leaders understand the importance of mobile in a digital strategy, they are developing more
agile operating models, and, most notably, they have tackled the need for internal culture shifts
(see sidebar: About the Study).
With top-down implementation, these leaders have set their paths toward becoming more
client-centric, more tech-savvy, and more inclusive. As the market evolves even more rapidly
through the end of the decade, all banks will have to adapt to a disruptive model in people and
IT—the two engines of retail banking—and must fundamentally adapt to deliver the best results.
This paper looks at the trends and the path forward.
The Evolving Digital Journey
Most banks began their digital journey years ago and have clear digital strategies, yet even
those are facing major changes. In particular, as more customers use their mobile phones and
tablets to do their banking, and omni-channel takes hold in financial services, the mobile
experience is becoming a crucial aspect of digital strategy that banks must address.
Secondly, to keep up in this fast-changing market, traditional banks will have to adapt their
operating models. In particular, changes in IT, new products and services development, and
changing expectations for time-to-market will be key factors going forward.
Perhaps the most important step, however, is that banking in the digital age requires a drastic,
profound reset of how banking staff reacts to customer needs. This means thinking customer
first, rather than by channel; as one panelist puts it,“Banks think in channels, but customers
don't.“ It means being conscious that small digital players can gain market share faster and
in a manner that is more disruptive to traditional banks’ models. It means understanding that
organizational silos pose significant obstacles to creating new solutions for customers. Most
importantly, it means looking inward, changing organizational beliefs and habits to facilitate
clients and drive digital innovation.
A new spirit of banking—led by top executives—will lead the way to addressing market changes,
becoming more agile, and improving openness in day-to-day business.
About the Study
This is the second edition of a
joint study by A.T. Kearney and
Efma about the digitization of
retail banking across the globe.
The study is based on interviews,
conducted between June and
September 2014, with more than
25 executives in charge of digital
or multichannel in the retail
banking divisions of 22 leading
banks. The study is based on the
general question, “How is the
bank implementing its digital
transformation?”
The study also included inter-
views of six CEOs from pure-
player digital banks. An open
questionnaire co-developed by
A.T. Kearney and Efma touched
upon five key themes: strategic
intent and objectives, transfor-
mation approach, organization
and governance, success factors
and lessons learned, and the
specificities regarding physical
branches and the insurance
business.
3. 2Going Digital: The Banking Transformation Road Map
In our survey, digital banking leaders tell
us that “the game is about the race to
build an audience“ to increase traffic
and drive sales.
1. Mobile Banking Is Changing the Game
The digitization of retail banking is, of course, not a new development. Online solutions and
services have existed since roughly the turn of the century, which has progressively led banking
beyond mere multichannel strategies as Internet access has become ubiquitous and more
heavily used (see figure 1).
In coming years, however, mobile use will become the epicenter of digital banking, as technology
improves (3G, LTE) and smartphones and tablets become even more widespread. More than
half of mobile devices sold today are smartphones, and more than 80 percent will be by 2020.
Eighty-five percent of the executives we interviewed for this study say that mobile is the
cornerstone of their digital strategy going forward, as mobile becomes most customers’
first touch point. One executive at a Latin American bank says, “This year, transaction volumes
for mobile have overtaken volumes across all the other channels.” A European banking
executive reports that their clients have 11 times as many contacts through mobile than
on standard computers.
Source: A.T. Kearney analysis
Figure 1
Most banks are now accelerating their digital strategies
Number
of digital
banking
clients
Multichannel
strategy
Ignite digital
strategy
Accelerate digital
strategy
2007 2010 2014 2020
Smartphones
are introduced
Tablets are
introduced
Smartphones make
up half of the market
Smartphones make
up 80% of the market
Technology
Clients
• Workstations
• Early adopters
• Smartphones and
tablets
• Mobile Internet users
• Internet of Things (watches, glasses)
• Heavily connected users
New inflection point
4. 3Going Digital: The Banking Transformation Road Map
The spread of mobile banking is creating what we call new “golden rules” for retail banks as they
seek to meet customers’ expectations in banking products and services:
• Simplicity. Mobile requires smart, visual, and easy-to-use interfaces and services.
• Relationship. The new rule in digital is “always connected.” A consequence of this is that
banks must cultivate the development of emotional relationships with their customers,
including through social media.
• Traffic. Generating web or app traffic is a major concern for digital banking leaders. In our
survey they tell us that “the game is about the race to build an audience,” or “generating traffic
to increase sales.”
• Speed of innovation. Banks are trying to keep pace with new technologies. For example, the
most recent iOS update from Apple includes a new Apple Pay feature, with potential buy-in
from many banks. Other banks are seeking to develop apps for connected watches, glasses,
and other wearable devices as their use spreads.
2. Banks Are Aspiring to Build Agile Operating Models
Our research highlights three groups of digital approaches, based on their commitment to digital
strategy and their progress on the digital transformation road map (see figure 2). The first, which
includes roughly one quarter of the retail banks we examine, sees digital merely as a project, with
pilots and gradual deployment, and not as a central feature (see figure 3 on page 4). The second,
the “advanced group,” which includes 42 percent of retail banks in our study, consider digital
a business within their umbrella. The last, including 32 percent of the banks in our study, take what
we call the “boosted” approach where they have a “pure player” (such as a subsidiary) inside the
firm and a digital culture from top to bottom.
Source: A.T. Kearney analysis
Figure 2
Most banks want to become digital banking leaders and are deeply engaged in the
transformation to get there
Commitment to
digital strategy
• Clarity of vision
• Digital banking
leadership ambition Digital is a project
Digital is a business
Digital is a core valueHigh
Low
Digital transformation road map progress
• Customer experience
• Organizational transformation
• IT agility
• Cultural transformation
Low Medium High
5. 4Going Digital: The Banking Transformation Road Map
The advanced and boosted groups demonstrate future trends in digital banking. The advanced
pack shows a structured approach to digital, with an understanding of how branch networks
are evolving in an omnichannel world. These banks use a solution-driven, “test-and-learn”
approach, with many options tested and close collaboration with other units, such as IT and
marketing. At these firms, the bank’s mindset is client-first, and there is an understanding
of the need for investment in IT platforms.
Flexibility must become the dominant
gene in the DNA of traditional banks
as they rebuild their operating models
in a digital world.
The boosted approach, based on a pure player model, demonstrates a possible end-game model
and trends. These companies are on the offensive as they seek market—with new technology
and their associated opportunities—with the idea that short-term gains will lead to long-term
advantage. They are employing agile teams with fast time-to-market—in the range of six months—
on products, services, and upgrades. They are dedicated to cost effectiveness—small teams,
an entrepreneurial mindset, and dedicated web-enabled IT teams that are partially outsourced.
One executive at a European mobile banking pure player described his firm’s digital vision:
• Fully digital products
• Fully paperless
• Minimal need for call centers and direct interaction with clients
• Lean core banking IT system, with Web banking and CRM enabled by initial design
• Highly outsourced IT with strategic partners
Source: A.T. Kearney analysis
Figure 3
Our survey finds three typical digital approaches
• Project-by-project basis
• Pilots and gradual deployment
• Long-term planning
• Clear, long-term vision and ambition with
client-centric focus and open innovation
• Cross-functional teams mixing IT,
distribution, and marketing
• Test-and-learn approach: options tested
in parallel, with big-bang full deployment
• Flexible and agile execution, with twice-
yearly reviews
• Abundant internal communication
• Pure digital business model
• Use subsidiaries to accelerate digital
• Pure-player model that accelerates
learning for digital transformation
• Dissemination of digital in the
company, culture, and innovation
• Dedicated “lean” IT
Followers (26%)
Digital is a project
Advanced (42%)
Digital is a business
Boosted (32%)
Digital is a core value
6. 5Going Digital: The Banking Transformation Road Map
Implementation of digital banking will be anchored by three dimensions: client centricity,
open innovation, and organizational flexibility (see figure 4).
Client centricity. Client centricity has two parts in a digital transformation: a focus on the
customer experience coupled with an in-depth examination of the role of branches. Three
quarters of our respondents say understanding customer experience is essential to imple-
menting digital into their organizations. There are three success factors:
• Be attentive and pragmatic. The objective is to move closer to clients’ expectations and
anticipating them. This requires a change in mindset and practices, with the client becoming
the center of the bank. One European executive says, “Everyone in the company thinks client
first.” Other practices include watching social networks, maintaining live interaction on those
networks, and developing concept spaces—new offers and services, CEO discussions, or
closer client interactions—where banks can study customers’ behaviors.
• Be ready and creative. An enhanced client experience will go a long way, so a bank’s
technology must be leading-edge. As one panelist says, “In digital, the bank’s IT is naked in
front of the client.” The ability to capture the full potential of new technologies starts with an
agile IT organization and cross-functional teams studying customer desires.
Note: Percentages are respondents who cite this as a key success factor for their company.
Source: A.T. Kearney analysis
Figure 4
Seven success factors for digital transformation in banking
External orientation Internal orientation
60%
60%45%
35%
75% 60%
1 2
5 4
6 3
Inclusive
digital
teams
Customer
experience
focus
Agile IT
platform
Long-term
vision and
short-term
execution
New
role for
branches
Open
innovation
ecosystem
C
lient centricity Open innovation
Client centricit
y
O
pen
innovation
Organizationalflexibility
Organizationalflexibility
7
Inclusive
digital
culture
7. 6Going Digital: The Banking Transformation Road Map
• Rethink the role of branches. Traditional branch networks embody the brand of the bank
as an institution and host an important number of the banking staff. Changing the role of the
branch means changing the habits, beliefs, incentives, and experience of the people who
work in and for branches. The digital shift is a cultural shift, with new skills required to meet
newly digitized customers. What does the future of branches look like? A top executive from
a pure online player sums it up nicely: “Delivering high-value advice through true experts.” In
this scenario, banks have flagship branches that showcase the brand and are fully integrated
parts of the omnichannel customer journey.
Openness to innovation. Digital teams with a mix of IT and marketing—in other words both
internal and external know-how—can help produce concrete innovations that are ready for
client use. Integrating IT and marketing is the essence of the digital age, as it seeks to create an
agile organization that merges client needs with solution delivery to deliver new services as
quickly as possible. A connection between internal know-how and external market realities
leads to more valuable innovations.
Leading traditional banks understand that
open innovation ecosystems are the
genesis of design and delivery in the
digital era.
Open innovation and ecosystems are the genesis of design and delivery in the digital era.
The market is moving fast, and to lead the race to new mobile offerings requires, as one
banking leader in Europe tells us, “a highly efficient connection between new technology
releases and partners.”
The leading traditional banks are testing leading-edge technologies at early stages—sometimes
in labs close to Silicon Valley’s digital ecosystem of ideas, start-ups, and people—to understand
their impact and promise for digital banking. They also understand that it is crucial to transform
innovations efficiently into real offers for clients. As new start-ups become an unavoidable
feature of the market—so-called “fin-techs” proposing more value-added services—creating
connections with these players (either with collaborations or acquisitions) will be necessary,
as will close partnerships with the major players leading the digital era revolution.
Organizational flexibility. Technological and organizational agility is crucial for banks. An agile
IT platform is central to the digitization of banking operating models. The proliferation of new
technologies and the faster time-to-market call for a fundamentally flexible IT platform that
is able to integrate external cloud services. IT organizations need to be segregated by seam-
lessly integrating the front-end IT into the business and industrializing the back end (see figure 5
on page 7). At a deeper level, it means a cultural change to embrace new technology testing
and integration, and to adopt a customer solutions-driven mind set.
Technological capabilities are becoming a main differentiator for banks when it comes to
improving the customer experience. It offers great opportunities for banks to better understand
their customer needs while offering new propositions such as peer-to-peer payments, lending,
social trading, and personal finance management tools. The risk is that these offers will overload
8. 7Going Digital: The Banking Transformation Road Map
existing core banking systems with additional functionalities and processes, so change will
require smart, modular, highly automated solutions that are possibly maintained outside the
bank. Leading banks worldwide are creating a smart middleware layer that computes and
processes customer and business intelligence with state-of-the-art technologies and interfaces.
Ultimately, this trend will require banks to open up their systems or middleware layers to third
parties and use open APIs (application programming interfaces) to keep efforts at a minimum.
Co-creation and collaboration will be the new mantra of tomorrow’s leading banks—a step
requiring fundamental adjustments to their approach.
Ultimately, flexibility requires a clear long-term vision and strong short-term execution.
As one leader at a European bank says, “Flexibility must become the dominant gene in the
DNA of traditional banks’ new operating models.” This means being committed to the long-
term vision by embarking internally on the digital journey, even when the path to digital
transformation may not yet be known. With the environment changing and no traditional bank
yet reaching the digital “end game,” execution flexibility—by adopting a progressive test-and-
learn approach and frequently reviewing plans and priorities to stay competitive—will ensure
alignment with customer needs in a fast-moving, competitive environment. Many banks are
using alternative organization models, such as adding subsidiary think tanks outside the
core bank or supporting innovation incubators that produce new solutions more quickly.
In a nutshell, this means adapting the operating model’s “internal DNA” to cope with the
“external” market dynamics.
3. People Engagement Is the Key Challenge
Perhaps the most important—and indeed the most difficult—change ahead for traditional
banks is a mindset change. The digital age is fundamentally impacting culture as it forces
banks to shift from a product-centric point of view to a client-centric one; from a place where
Note: API is application program interface
Sources: Interviews; A.T. Kearney analysis
Figure 5
Technology can facilitate a fast and agile environment
• Exponential growth in traffic and data
• The rise of seamless, real-time data across channels
Major challenges for banks
Front end Branches
and call
centers
Web and
mobile
Third-
party
apps
• New functionalities, such as peer-to-peer payments,
loyalty programs, dynamic pricing, and open
online communities
• The need for real-time information processing
by newly built kernels
• Enhanced data management capabilities with
a strong focus on enabling all channels with a
360-degree client view
• The need for fast and resilitent transactions and
bookings within core systems
Middleware
Back end
API API
Customer intelligence kernel
Core banking system
Value-added functionalities
API
9. 8Going Digital: The Banking Transformation Road Map
the current IT set-up is doing the job to a tech-savvy mindset; from planning cycles to “test-
and-learn”; and from silos to inclusiveness. The executives in our survey highlight three
features of changing the culture for a successful digital transformation:
Forward thinking. Training and communication must involve everyone in the bank, including
departments not directly impacted by digital. Participants are focusing on providing clear,
action-oriented content such as ready-to-launch services and new technology uses. Some
banks are appointing “digital communication ambassadors” to usher in the new culture.
Empirical. Leading banks are developing the “test-and-learn” approach, with some asking
employees to practice mobile Internet at work during business hours to fully understand their
digital products and be fully aware of what is happening in digital.
Openness. Employees should be curious about new digital practices, new services, and
technologies. For leaders, this means accepting errors from the test-and-learn process, and
collecting and frequently sharing feedback among teams, clients, and partners.
The digital age is fundamentally impacting
culture as it forces banks to shift from
a product-centric point of view to
a client-centric one.
At the center of the leading digital transformations are top leaders—specifically CEOs—who
become Chief Cultural Transformation Officers. To lead the bank to a new digital-focused
culture, leaders will have to initiate and lead the conversation about digital vision and increase
the bank’s ambition (see figure 6).
Source: A.T. Kearney analysis
Figure 6
Digital banking requires a new type of CEO
Is a digital native who forges a digital agenda internally and externally
Strikes a balance between business as usual and disruption
Ensures reconciliation and inclusiveness as the natural “Chief Cultural Transformation Leader”
• Between generation Y and previous generations
• Among IT, marketing, and business
• Between traditional and digital division
Create innovation boards that drive retail banking executive committees
Empower cross-functional teams
Adapt governance to support digital penetration, distribution network, IT transformation
10. 9Going Digital: The Banking Transformation Road Map
To consolidate the bank’s strengths in a cohesive manner, the CEO needs to embody the
inclusiveness of a digital transformation to ensure that all generations are ready to digest
new technologies, that IT and marketing can deliver solutions to clients, and that best
practices are in play between the traditional side of the bank and digital business units
or subsidiaries.
Most banks have been on the digital journey
for years now, but it is only halfway through.
Operating agility and cultural changes
arenextontheagendafortransformation.
Our respondents cite a few practical tactics for achieving this, including the direct empower-
ment of cross-functional teams, and the creation of appropriate governance to drive digital
both in operations (IT) and within branch networks.
Looking Ahead
Most banks have been on the digital journey for years now, but that journey is only halfway
through, our respondents say. Operating agility and cultural changes are next on the
agenda for the market’s digital transformation, which will only pick up pace through 2020
(see figure 7). Technology trends such as Internet of Things and the spread of smartphones,
evolving customer behavior, and changing branch networks are leading to new customer
behaviors and expectations across all markets. Banks have no time to waste in addressing
these changes.
This will certainly mean fewer physical branches and more mobile services, with a customer
experience that is both complementary and consistent in all channels. In other words, the
leaders will offer “true expertise” from highly skilled professionals everywhere, be it a branch,
Source: A.T. Kearney analysis
Figure 7
The pace of digital transformation will accelerate through 2020
• Internet of Things
• Full penetration of smartphones
and tablets
• Convergence
• Explosion of cloud services
• Digital usage crossing generations
• Mobile Internet use increasing
• Digital culture spreading worldwide
across industries
• Emerging markets increasingly adopt
mobile banking
• Branches activity decreasing
• Less traffic than on mobile
• Fewer but bigger branches
integrated in the customer experience
embedded with digital (flagship,
showroom)
Technology trends Evolving customer behavior Changing branch networks
11. 10Going Digital: The Banking Transformation Road Map
a chat room, or a video conference. Figure 8 highlights many of the steps in the transformation
road map, as banks build a digital foundation and then develop strong digital value propositions.
Indeed, the “end-game” may be close: paperless billing, 24-7 social network listening, and
authentication through biometric technologies are already seeing rollout in some markets
(such as Latin America).
Reflecting on the Future
The future will bring a new banking paradigm: a new delivery model where digital teams are
integrated with existing personnel, and where some pure digital players may add physical
branches to showcase their brands; newly formed IT with an app-focused front end, a central core
database connected and hosted in the Cloud, and a back end widely industrialized and out-
sourced; and a digitized culture, where all employees are “digital certified,” and where time and
cost are given to adapting skills and headcount to deal with competitive and margin pressures.
Compared to the way digital disruption is hitting other service industry sectors less protected
by regulation and domestic specificities—such as media, telecom, and retail—it seems
that retail banks at this point have only addressed the tip of the iceberg when it comes
to digital transformation.
Current efforts in terms of marketing and distribution to build banks’ digital image and to keep
digital customers from slipping away seem to be providing short-term help, but there remains
much work to be done to ensure profits are protected in the future.
Source: A.T. Kearney analysis
Figure 8
A transformation road map must focus on allocating resources
• Personify the digital culture at the leadership level
• Develop client-centric culture
— Value “client-first“ communication
— Train for digital
• Develop a tech-savvy culture
— Develop community and intranet
— Communicate and train on delivered new services and demos
• Smart and agile
middleware
• Integrated architecture
• Seamless teaming
with business
• Customer
journey
focus
• Solution-
driven
approach
• Open
eco-
system
• Digital and branches
embedded in
customer journey
• Data model
harmonization
• Selective outsourcing
• Test and learn
• Full deployment of new services
• API
• End-to-end, digitally
optimized processes
• Improved customer experience
Shift to
a digital
culture
Transformation road map
Illustrative
CEO and
top executives
push digital
momentum
Build
an agile
operating
model
Leaders
define opera-
tions and
IT strategy
for digital
Agile IT and
operations
Generate momentum
2012 2014 2020
Building the foundation
Developing a digital
value proposition
Marketing
Branches
12. 11Going Digital: The Banking Transformation Road Map
The authors wish to thank their colleagues Massimo Arrighi, Cecily Carmona, Daniela Chikova, Sean Choo,
Torsten Eistert, Rob Feeney, Rik Goslinga, Yasushi Kubokawa, Ettore Pastore, Manuel Garcia Ramos,
Ilnort Rueda Saldivar, and Michael Weiss for their valuable contributions to this paper.
Authors
Michel Jaubert, partner, Paris
michel.jaubert@atkearney.com
Matthias Ullrich, consultant, Frankfurt
matthias.ullrich@atkearney.com
Renaud Dela, consultant, Paris
renauld.dela@atkearney.com
Stefan Marcu, principal, Warsaw
stefan.marcu@atkearney.com
Jean-BaptisteMalbate,consultant, Paris
jean-baptiste.malbate@atkearney.com
In parallel to customer-facing areas, banks also need to reexamine their operating models,
with an end-to-end process review that takes into account current and target costs and the
proper allocation of both human and technological resources. For example, can legacy IT and
operations be adapted, or should pure-play models be developed with the goal of eventually
incorporating them into the core business?
Tough questions indeed, with goals that are no doubt difficult to achieve. Today’s leading
banks, however, are already taking the lead in answering them.
By applying the seven success factors of digital transformation, banks will surely trigger
a positive evolution. Only time will tell if it's enough to respond to the digital revolution.