Banking in future by sarmad 03152232702 szabist karachi
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The document discusses trends in the banking industry including changing customer profiles and expectations of mobility and 24/7 access. Customers are increasingly tech-savvy and prefer online and mobile banking. New entrants like tech companies threaten traditional banks. Banks need to understand customer behaviors from social media and transactions to improve customer relationships, gain insights, and manage risks.
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Banking in future by sarmad 03152232702 szabist karachi
- 1. 1 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 BANKING IN THE FUTURE Name :Sarmad Samad Reg :1356112 SZABIST KARACHI E-Banking 2015
- 2. 2 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 BANKING CATHEGORIES NOT CHANGING BUT… – Retail – Private – Corporate • Big corporations • Small & Medium companies
- 3. 3 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 CUSTOMER PROFILES AND RELATION REQUIREMENTS ARE CHANGING – Consumer as a customer – Private banking customer, but still a consumer – Professional as a customer, but still a consumer (Prosumer) Latest user device technology (UI) and user advantages required/expected in all profile interactivity. Mobility and 24x7 access to full service is/will be a must Bank of one will be a must Is the IT/IS of our banks ready?
- 4. 4 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 QUOTE FROM “THE MCKINSEY QUARTERLY” –The “emerging affluent” segment—young, educated, and consumption-oriented urban professionals—could account for up to a third of all retail-banking revenues in the coming three to five years: • They are tech savvy, preferring online-banking and smartphone applications; reluctant users of branches; and price conscious and service oriented. (February 2012, Miklós Dietz, Ádám Homonnay, and Irene Shvakman)
- 5. 5 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 TRENDS IN RETAIL BANKING – Regulation / Compliance • IFRS9, Basel III – Demographic change • “Millenials”, Social Media – Change in consumer behavior • Customers take over control, “ROPO” & ”ROPO + Pay Mobile“ – New entrants into Banking “market“ • Telco‘s (Vodafone), Google, PayPal and Retailer (Tesco etc) – New technologies • iPads, Social Media, “e-Money“, NFC
- 6. 6 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 IS THE BANKING FUNCTION READY FOR THE INTERACTION? ATM Permanent banking function: •Shopping •Business •Leisure •Day to day live •Secure payments •Trust in relation Móvil Web Consumer Corporate Smartphone Prosumer Other Channels
- 7. 7 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 MOBILITY
- 8. 8 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 CAIXAMOBIL STORE & PUNTS ESTRELLA MOBILITY & CLIENT RETENTION IN THE 21ST CENTURY Full blown apps banking suite for iOS, BlackBerry, Android, Nokia, W indows Mobile Gain & spend „Estrella Points“ with every transaction www.youtube.com/ watch?v=XTF0YkMLS4g
- 9. 9 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 “READY TO ACCESS” “CUSTOMER SERVICE” WITH AND BY TWITTER
- 10. 10 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 BARCLAYS’ PICCADILLY
- 11. 11 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 BANKING 2.0: WILL EBAY, GOOGLE AND VODAFONE BE THE NEXT LEADERS IN RETAIL BANKING ?
- 12. 12 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 NEW ENTRANTS – TELCO & RETAIL • Insurance • Credit cards • Loans • Savings • Credit card • Payment through phone bill
- 13. 13 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 WHAT ARE BANKS DOING / NEED TO DO NEXT? –Track behaviour –Correlate with transaction –Understand –Predict and influence –Adjust risk exposure Continuously Listen and Analyze "Our top business challenges are optimizing customer relationships, optimizing financial functions, Reducing business risk and ensuring regulatory compliance. Our prioritization is around our customer and then revenue / profits." C Level Executive
- 14. 14 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 THE ESSENCE OF SOCIAL INTELLIGENCE Engage Under- stand Listen How can Banks improve the dialogue with their customers?
- 15. 15 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 CAN THE BANKS USE SOCIAL AVAILABLE DATA? – How do we engage in social networks as trusted friend? – How do we acquire social unstructured content? – How do understand social media content? – How do we correlate social media content with bank’s operational data?
- 16. 16 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 A day in the life of Mary CUSTOMERS WILL SHARE DATA FOR BENEFIT 100 BP 50 BP 250 eBP 50 BP 100 BP 500 BP 300 eBP 100 BP
- 17. 17 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 SHOPPING COMMUNITY
- 18. 18 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 BENEFITS FOR THE BANK – Understand customers‘ buying pattern – Sole source for integrated banking services – High customer retention – Actively engage to sell new services – Marketing and upselling through consumers‘ communities – Strong brand recognition
- 19. 19 © 2012 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice 06/03/2012 BIG DATA (Sandbox metaphor) (Unstructured data) & (Structured data) ADDITIONAL NEEDS ON TOP OF CORE BANKING DATA Operational Systems (Product & customer Applications) (Structured Information) External Web Content External Social Media (Unstructured Information) Internal Digital Content Internal Social Media (Unstructured Information) BUSINESS SERVICES EXTERNAL INTERFACES ENTERPRISE SYSTEMS INFORMATION MANAGEMENT & DATA SERVICES CORE BANKING OPERATIONS CORPORATE RETAIL RISK MANAGEMENT & COMPLIANCE WEALTH MANAGEMENT TRADING TREASURY & CASH MANAGEMENT Business Analysis by the business executives. Driving Analysis Sentiment Analysis collected from employee feedback in the Internal Social Media. Employee Knowledge Business Intelligence pattern analysis for event detection on customer behavior. Business opportunity identification. Business enhancement One-to-One Marketing management. Automation on creation of customer business proposals. Personalization Client profile enrichment for loyalty purposes. Brand perception and event predictive analysis from Social Media Client knowledge
Editor's Notes
- IFRS9: The objective of this project is to improve the usefulness of financial statements for users by simplifying the classification and measurement requirements for financial instruments. In November 2008 the IASB added this project to their active agenda. The FASB also added this project to their agenda in December 2008. IAS 39 establishes the principles for recognising and measuring financial assets, financial liabilities and some contracts to buy or sell non-financial items. IAS 39 includes provisions about the classification of financial instruments, their ongoing measurement (including when impairment is required), when financial instruments should be recognised and derecognised and hedge accounting requirements. The original version of IAS 39 was published by the Board’s predecessor body, the International Accounting Standards Committee (IASC), and became effective for financial statements covering financial years beginning on or after 1 January 2001. As part of its initial agenda of technical projects, the Board undertook a project to improve a number of standards, including IAS 39. This project has now been completed. On 16 December 2011 the IASB issued Mandatory Effective Date of IFRS 9 and Transition Disclosures, which amends IFRS 9 to require application for annual periods beginning on or after 1 January 2015, rather than 1 January 2013. Early application of IFRS 9 is still permitted. Generation Y, also known as the Millennial Generation (or Millennials),[1][2] Generation Next,[3] Net Generation,[4] Echo Boomers,[5] describes the demographic cohort following Generation X. While there is no universally agreed upon time frame, the term generally includes people born in the[6] 1980s and early 1990s, sometimes including those born as late as the year 2000.[7] One segment of this age-group is often called the “eighties babies” generation, in reference to the fact that they were born between January 1, 1980 and December 31, 1989.[8][9][10] Members of this generation are called Echo Boomers, due to the significant increase in birth rates through the 1980s and into the 1990s, and because many of them are children of baby boomers.[11][12][13][14] The 20th century trend toward smaller families in developed countries continued,[15][16] however, so the relative impact of the "baby boom echo" was generally less pronounced than the original boom. Characteristics of the generation vary by region, depending on social and economic conditions. However, it is generally marked by an increased use and familiarity with communications, media, and digital technologies. In most parts of the world its upbringing was marked by an increase in a neoliberal approach to politics and economics; the effects of this environment are disputed.[17][18] ROPO = Research Online Purchase Offline ROPOPM = Research Online Purchase Offline Pay Mobile
- 07:00 check stocks – 100 points 08:30 bus ticket via mobile payment – 50 points 08:45 Cappuccino st Startbucks – 50 points & five times a week extra 250 bonus points 12:00 cantine, paid with credit card – 100 points – all family members used credit card during lunch time– 300 extra points 15:30 send recommendation on real estate to friend – 500 points 19:00 family game of „eMonopoly“ via IPTV provided by your bank – 100 points
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