Commercial banking outlook: Views from bankers, disruptors and innovators. A five forces analysis on the banking industry and the top challenges facing commercial banking executives.
U.S. Consumer Banks and the Potential of Location-Based OffersCognizant
The document discusses how location-based offers (LBOs) present an opportunity for U.S. retail banks. As mobile device usage increases and location technologies advance, LBOs are growing across industries like retail and healthcare. However, retailers lack customer spending data to make offers truly relevant. Banks have this valuable customer data from transaction histories. By partnering with retailers and using location data, banks can create highly customized LBOs that drive customer loyalty and sales for both banks and retailers. Success requires strategies that leverage mobile technologies, location data, and analytics to deliver the right offers at the right time based on a customer's unique "Code Halo" of digital data.
Predictions 2017: Pioneering Financial Providers Will Partner With Fintech To...eraser Juan José Calderón
Predictions 2017: Pioneering Financial Providers Will Partner With Fintech To Build Ecosystems
Leading Firms Will Focus On Improving Customer Journeys, While Laggards Get Distracted By
Bright And Shiny Technologies
by Peter Wannemacher, Jacob Morgan, Martha Bennett, Oliwia Berdak, and Jost Hoppermann
with Benjamin Ensor, Ellen Carney, Alyson Clarke, Aurelie L’Hostis, Davis Janowski, Brendan Miller,
Zhi Ying Ng, Joana van den Brink-Quintanilha, Xiaofeng Wang, and Michael Chirokas
November 2, 2016
The most significant trend of 2016 will be the ‘Platformification’ of banking, where both existing banks and startups begin a strategic shift towards becoming banking platforms, much like how Amazon is a platform in retail.”
This document provides an overview and key findings of a study on how core vendor contracts impact community banks and credit unions. Some of the main points summarized are:
- On average, community banks and credit unions pay 24% above fair market value for core processing and related IT services. Renegotiating contracts can result in annual savings ranging from 11.5-43.4%.
- Tight margins, regulatory compliance, and slow economic growth are the top challenges cited. Growing loans and cutting costs are the top priorities.
- Nearly two-thirds want to reduce non-interest expenses and over half want to increase non-interest income. A third cite adding new technologies as a priority.
- The
U.S. Consumer Banks and the Potential of Location-Based OffersCognizant
The document discusses how location-based offers (LBOs) present an opportunity for U.S. retail banks. As mobile device usage increases and location technologies advance, LBOs are growing across industries like retail and healthcare. However, retailers lack customer spending data to make offers truly relevant. Banks have this valuable customer data from transaction histories. By partnering with retailers and using location data, banks can create highly customized LBOs that drive customer loyalty and sales for both banks and retailers. Success requires strategies that leverage mobile technologies, location data, and analytics to deliver the right offers at the right time based on a customer's unique "Code Halo" of digital data.
Predictions 2017: Pioneering Financial Providers Will Partner With Fintech To...eraser Juan José Calderón
Predictions 2017: Pioneering Financial Providers Will Partner With Fintech To Build Ecosystems
Leading Firms Will Focus On Improving Customer Journeys, While Laggards Get Distracted By
Bright And Shiny Technologies
by Peter Wannemacher, Jacob Morgan, Martha Bennett, Oliwia Berdak, and Jost Hoppermann
with Benjamin Ensor, Ellen Carney, Alyson Clarke, Aurelie L’Hostis, Davis Janowski, Brendan Miller,
Zhi Ying Ng, Joana van den Brink-Quintanilha, Xiaofeng Wang, and Michael Chirokas
November 2, 2016
The most significant trend of 2016 will be the ‘Platformification’ of banking, where both existing banks and startups begin a strategic shift towards becoming banking platforms, much like how Amazon is a platform in retail.”
This document provides an overview and key findings of a study on how core vendor contracts impact community banks and credit unions. Some of the main points summarized are:
- On average, community banks and credit unions pay 24% above fair market value for core processing and related IT services. Renegotiating contracts can result in annual savings ranging from 11.5-43.4%.
- Tight margins, regulatory compliance, and slow economic growth are the top challenges cited. Growing loans and cutting costs are the top priorities.
- Nearly two-thirds want to reduce non-interest expenses and over half want to increase non-interest income. A third cite adding new technologies as a priority.
- The
Magenta advisory: Data Driven Decision Making –Is Your Organization Ready Fo...BearingPoint Finland
It’s nice to have loads of data. Nevertheless, many managers start to sweat when it comes to genuinely fact-based decision making. This study reveals the keys to leveraging big data successfully.
Cybersecurity Talent : The Big Gap in Cyber ProtectionCapgemini
Read the latest report from the Digital Transformation Institute titled “Cybersecurity Talent : The Big Gap in Cyber Protection”. The report is based on a survey of 1200 employers and executives as well as social media analysis of 8000+ employees. It focuses on skill gap in cybersecurity and offers eight key recommendations to organizations to address two areas – acquisition and retention of cybersecurity talent.
Learn more at https://www.capgemini.com/resources/cybersecurity-talent-gap
Infographic: The World Retail Banking ReportCapgemini
Banks underestimate the impact of financial technology (FinTech) firms on their customers and how customers feel about FinTech services. While bankers see FinTechs mostly as competitors, customers have a more positive view of FinTechs and are increasingly using their products and services. As competition evolves, banks are starting to collaborate more with FinTechs to improve innovation, agility, and their ability to attract digital-savvy customers.
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.
Pluto7 - Tableau Webinar on enabling Organization to be Data Driven in 201...Manju Devadas
Big Data and BI initiatives needs a holistic strategy and execution. The content walks through how an organization became data driven in less than 6 months with Tableau, Alteryx, Splunk and traditional BI enabled by Pluto7 ( www.pluto7.com )
The wealth management industry around the world is witnessing a multitude of changes due to weak economies in the developed world, strong growth in developing markets like China and India, an uncertain political future in Europe, increasing regulatory supervision, and new competition from rising FinTechs and their innovative services for High Net Worth Individuals (HNWIs).
Our analysis in this paper revolves around the impact of the above mentioned dynamics on the industry players and how they are adapting through this phase of transformation.
Article on the future of Telco in MEA region, with citations from a CEO and 3 CXOs from 4 of the major telco groups in the region. Many thanks to all who contributed.
The document discusses trends in the financial technology (fintech) industry. It notes that global investment in fintech startups increased 67% in 2015 to $5.3 billion. Fintech encompasses technologies bringing about digital transformation in banking and finance, from mobile banking to digital securities. Key trends discussed include increasing partnerships between traditional banks and fintech startups, growing consumer adoption of fintech products especially in payments and lending, continued investment and development of blockchain/cryptocurrency technologies, and regulators beginning to develop frameworks to oversee the largely unregulated fintech sector.
The Capital Markets industry is ripe for disruption as participants cope with increasing competition and a stricter regulatory environment. Ecosystem firms are leveraging emerging technologies to support their transition to new and differentiating business/operating models that will enable efficiency efforts and profitability goals. However, rapid transformation also introduces the potential for significant security threats to critical components of the capital markets industry. This report explores the top-10 trends that industry participants will face in 2018 and beyond.
Capital markets firms are facing several trends in 2017:
- Driving client experience is becoming critical to sustain business growth.
- Pricing models for research are being unbundled to increase transparency.
- Firms are adopting robotic process automation to reduce costs and gain a competitive advantage.
- Cloud-based solutions and data analytics are becoming more strategically important functions.
- Blockchain technology may change how data is managed, and regulations are pushing specialization among fintech startups.
Adobe Live Cycle Es - Supercharging Banking Industry V.1.2numerous
LiveCycle ES can streamline banking operations by automating workflows, engaging customers through interactive applications, and simplifying business processes. It allows banks to operate more efficiently, increase sales, and strengthen security. LiveCycle ES has been successfully implemented by several banks and government organizations to reduce costs, speed up operations, and improve customer experiences with loan applications, regulatory documents, import/export operations, and internal forms.
Property & Casualty Insurance Top Trends 2021Capgemini
The Property & Casualty insurance landscape is evolving quickly with the changing risk landscape, entry of new players, and changing customer expectations. The ripple effects of COVID-19 on the P&C insurance industry and natural disasters such as forest fires have adversely impacted insurance firm books.
In this scenario, to ensure growth and future-readiness, the most strategic insurers strive to be ‘Inventive Insurers’ – assuming a customer-centric approach, deploying intelligent processes, practicing business resilience and go-to-market agility, and embracing an open ecosystem.
Read our Property & Casualty Insurance Top Trends 2021 report to explore the strategies insurers are adapting to remain competitive amidst the evolving business landscape and how they can explore new ways to enhance their profitability.
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.
Financial services is undergoing a paradigm shift that is forcing incumbent retail banks to rethink growth strategies as they struggle to remain relevant. Growing competition from BigTechs, FinTech firms, and challenger banks has added to the complexity created by increasingly stringent regulatory and compliance requirements. Customers now expect a seamless customer journey and personalized offerings because they have become accustomed to top-notch individualized service from GAFA giants Google, Apple, Facebook, and Amazon. The changing ecosystem offers established banks new, unexplored opportunities and encourages a transition beyond traditional products to meet the exacting requirements of today’s customers. Bank collaboration with FinTech and RegTech partners is becoming commonplace. Incumbents are exploring point-of-sale financing and unsecured consumer lending, while they also boost their digital channel competencies to reach a broader customer base. Banks are beginning to accept open APIs and are working with third-party specialists to create an open shared marketplace. Technological advancements such as AI are fueling efforts to evolve customer onboarding and touchpoint processes. Increasingly, banks are turning to design thinking methodology to understand the customer journey, extract deep insights, and develop a more refined user experience across the customer lifecycle.
Our analysis of the top retail banking trends for 2020 offers a glimpse into the fast-changing banking ecosystem and explores the tools and solutions being used to face new-age challenges.
Leveraging data, tech and analytics to improve collectionsExperian
The document discusses leveraging data, technology, and analytics to improve debt collections performance. It notes declining right party contact rates and increasing consumer preference for digital interactions. New regulations and rising delinquencies are also creating challenges for collectors. The document advocates using enriched customer data and predictive models to inform automated collections workflows and personalized customer treatments. This would help drive better collections results by focusing on consumer preferences for digital and self-service options.
2019 LIBOR Survey: Thriving in Transition Uncertaintyaccenture
In this new Accenture Finance & Risk document we present the key finding from a global study across financial services firms to assess the impact of the LIBOR transition. Visit www.accenture.com/LIBORsurvey for more information
Insurers are continuing to face marked changes in what customers expect in terms of products and service, how they obtain and utilize the information that informs business decisions, and their underlying business and operating models. Top Insurance Industry Issues in 2016 describes in detail the internal and external changes insurers face and how they can gain a competitive advantage..
Similar to other financial services domains, payments is evolving into an open ecosystem. The EU’s Payment Services Directive (PSD2) pioneered open banking by encouraging banks and established payments players to securely open the systems to foster competition, innovation, and more customer choices. In tandem with non-cash transaction growth, regulations are driving banks and payments firms to expand their array of payment methods and channels. Governments are encouraging financial inclusion by also promoting the adoption of non-cash payments. Increasingly, merchants and corporates seek to offer alternative payment systems because of widespread popularity among consumers. Alternative payments also enable merchants to provide real-time and cross-border payments to boost business efficiency.
Banks, payment firms, card firms, BigTechs, FinTechs, and other players are continuously developing new technology to cash in on market changes. However, data breaches and fraud continue to hinder innovation as firms devote countless resources each year to address security issues. Many governments are also designing new regulations to reduce ecosystem threats. All these measures are expected to make the current ecosystem much more secure and simple for players as well as customers.
Top Trends in Payments: 2020 explores and analyzes payments ecosystem initiatives and solutions for this year and beyond
INFOGRAPHIC: Smart contracts between hype and realityCapgemini
Smart contracts have the potential to significantly impact the financial services industry by reducing costs and increasing efficiency. A smart contract is a computer program stored on a blockchain that automatically executes transactions when predefined conditions are met. Key benefits include lower administration costs through automation, reduced settlement times, and increased transparency and trust. However, challenges remain around privacy, scalability, regulatory issues, and developing talent with smart contract skills. As the technology matures over the next few years, mainstream adoption by financial firms is expected to begin in 2020.
BBD Seminar - Dr.Pu - Financial Solution for SME v10bbdservice
1) The document discusses challenges that small and medium-sized enterprises (SMEs) face in obtaining financing from traditional sources like banks due to issues with credit assessments.
2) It describes how big data from online sources can help improve credit risk evaluations of SMEs by providing more timely, extensive data beyond just financial statements.
3) Several innovative applications that use big data analytics to evaluate SME credit risks are highlighted, including macro-monitoring tools, dynamic due diligence solutions, and customizable rating models tailored for specific banks.
Lessons from FinTech: Innovators & Disruptors Baker Hill
This document discusses challenges and opportunities in commercial banking. It summarizes views from bankers and innovators on topics like:
1) New competitors and losing market share to digital disruptors
2) Top strategic priorities like enhancing digital experiences and analytics
3) Key challenges like escaping commodity sales and achieving operational excellence in digital banking
4) Partnering with fintechs and disrupting internally to drive innovation
5) Using data and analytics to provide actionable insights and personalized services that meet changing customer expectations.
Telco Paper by Blueocean Market IntelligenceCourse5i
At Blueocean, we are committed to work with large telecom providers who want to go for omnichannel experience for their end consumers.
To learn more about our Digital Customer Experience solution and how it can integrate with your existing technology infrastructure, go through this Short Paper on Telco Industry Solutioning.
Magenta advisory: Data Driven Decision Making –Is Your Organization Ready Fo...BearingPoint Finland
It’s nice to have loads of data. Nevertheless, many managers start to sweat when it comes to genuinely fact-based decision making. This study reveals the keys to leveraging big data successfully.
Cybersecurity Talent : The Big Gap in Cyber ProtectionCapgemini
Read the latest report from the Digital Transformation Institute titled “Cybersecurity Talent : The Big Gap in Cyber Protection”. The report is based on a survey of 1200 employers and executives as well as social media analysis of 8000+ employees. It focuses on skill gap in cybersecurity and offers eight key recommendations to organizations to address two areas – acquisition and retention of cybersecurity talent.
Learn more at https://www.capgemini.com/resources/cybersecurity-talent-gap
Infographic: The World Retail Banking ReportCapgemini
Banks underestimate the impact of financial technology (FinTech) firms on their customers and how customers feel about FinTech services. While bankers see FinTechs mostly as competitors, customers have a more positive view of FinTechs and are increasingly using their products and services. As competition evolves, banks are starting to collaborate more with FinTechs to improve innovation, agility, and their ability to attract digital-savvy customers.
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.
Pluto7 - Tableau Webinar on enabling Organization to be Data Driven in 201...Manju Devadas
Big Data and BI initiatives needs a holistic strategy and execution. The content walks through how an organization became data driven in less than 6 months with Tableau, Alteryx, Splunk and traditional BI enabled by Pluto7 ( www.pluto7.com )
The wealth management industry around the world is witnessing a multitude of changes due to weak economies in the developed world, strong growth in developing markets like China and India, an uncertain political future in Europe, increasing regulatory supervision, and new competition from rising FinTechs and their innovative services for High Net Worth Individuals (HNWIs).
Our analysis in this paper revolves around the impact of the above mentioned dynamics on the industry players and how they are adapting through this phase of transformation.
Article on the future of Telco in MEA region, with citations from a CEO and 3 CXOs from 4 of the major telco groups in the region. Many thanks to all who contributed.
The document discusses trends in the financial technology (fintech) industry. It notes that global investment in fintech startups increased 67% in 2015 to $5.3 billion. Fintech encompasses technologies bringing about digital transformation in banking and finance, from mobile banking to digital securities. Key trends discussed include increasing partnerships between traditional banks and fintech startups, growing consumer adoption of fintech products especially in payments and lending, continued investment and development of blockchain/cryptocurrency technologies, and regulators beginning to develop frameworks to oversee the largely unregulated fintech sector.
The Capital Markets industry is ripe for disruption as participants cope with increasing competition and a stricter regulatory environment. Ecosystem firms are leveraging emerging technologies to support their transition to new and differentiating business/operating models that will enable efficiency efforts and profitability goals. However, rapid transformation also introduces the potential for significant security threats to critical components of the capital markets industry. This report explores the top-10 trends that industry participants will face in 2018 and beyond.
Capital markets firms are facing several trends in 2017:
- Driving client experience is becoming critical to sustain business growth.
- Pricing models for research are being unbundled to increase transparency.
- Firms are adopting robotic process automation to reduce costs and gain a competitive advantage.
- Cloud-based solutions and data analytics are becoming more strategically important functions.
- Blockchain technology may change how data is managed, and regulations are pushing specialization among fintech startups.
Adobe Live Cycle Es - Supercharging Banking Industry V.1.2numerous
LiveCycle ES can streamline banking operations by automating workflows, engaging customers through interactive applications, and simplifying business processes. It allows banks to operate more efficiently, increase sales, and strengthen security. LiveCycle ES has been successfully implemented by several banks and government organizations to reduce costs, speed up operations, and improve customer experiences with loan applications, regulatory documents, import/export operations, and internal forms.
Property & Casualty Insurance Top Trends 2021Capgemini
The Property & Casualty insurance landscape is evolving quickly with the changing risk landscape, entry of new players, and changing customer expectations. The ripple effects of COVID-19 on the P&C insurance industry and natural disasters such as forest fires have adversely impacted insurance firm books.
In this scenario, to ensure growth and future-readiness, the most strategic insurers strive to be ‘Inventive Insurers’ – assuming a customer-centric approach, deploying intelligent processes, practicing business resilience and go-to-market agility, and embracing an open ecosystem.
Read our Property & Casualty Insurance Top Trends 2021 report to explore the strategies insurers are adapting to remain competitive amidst the evolving business landscape and how they can explore new ways to enhance their profitability.
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.
Financial services is undergoing a paradigm shift that is forcing incumbent retail banks to rethink growth strategies as they struggle to remain relevant. Growing competition from BigTechs, FinTech firms, and challenger banks has added to the complexity created by increasingly stringent regulatory and compliance requirements. Customers now expect a seamless customer journey and personalized offerings because they have become accustomed to top-notch individualized service from GAFA giants Google, Apple, Facebook, and Amazon. The changing ecosystem offers established banks new, unexplored opportunities and encourages a transition beyond traditional products to meet the exacting requirements of today’s customers. Bank collaboration with FinTech and RegTech partners is becoming commonplace. Incumbents are exploring point-of-sale financing and unsecured consumer lending, while they also boost their digital channel competencies to reach a broader customer base. Banks are beginning to accept open APIs and are working with third-party specialists to create an open shared marketplace. Technological advancements such as AI are fueling efforts to evolve customer onboarding and touchpoint processes. Increasingly, banks are turning to design thinking methodology to understand the customer journey, extract deep insights, and develop a more refined user experience across the customer lifecycle.
Our analysis of the top retail banking trends for 2020 offers a glimpse into the fast-changing banking ecosystem and explores the tools and solutions being used to face new-age challenges.
Leveraging data, tech and analytics to improve collectionsExperian
The document discusses leveraging data, technology, and analytics to improve debt collections performance. It notes declining right party contact rates and increasing consumer preference for digital interactions. New regulations and rising delinquencies are also creating challenges for collectors. The document advocates using enriched customer data and predictive models to inform automated collections workflows and personalized customer treatments. This would help drive better collections results by focusing on consumer preferences for digital and self-service options.
2019 LIBOR Survey: Thriving in Transition Uncertaintyaccenture
In this new Accenture Finance & Risk document we present the key finding from a global study across financial services firms to assess the impact of the LIBOR transition. Visit www.accenture.com/LIBORsurvey for more information
Insurers are continuing to face marked changes in what customers expect in terms of products and service, how they obtain and utilize the information that informs business decisions, and their underlying business and operating models. Top Insurance Industry Issues in 2016 describes in detail the internal and external changes insurers face and how they can gain a competitive advantage..
Similar to other financial services domains, payments is evolving into an open ecosystem. The EU’s Payment Services Directive (PSD2) pioneered open banking by encouraging banks and established payments players to securely open the systems to foster competition, innovation, and more customer choices. In tandem with non-cash transaction growth, regulations are driving banks and payments firms to expand their array of payment methods and channels. Governments are encouraging financial inclusion by also promoting the adoption of non-cash payments. Increasingly, merchants and corporates seek to offer alternative payment systems because of widespread popularity among consumers. Alternative payments also enable merchants to provide real-time and cross-border payments to boost business efficiency.
Banks, payment firms, card firms, BigTechs, FinTechs, and other players are continuously developing new technology to cash in on market changes. However, data breaches and fraud continue to hinder innovation as firms devote countless resources each year to address security issues. Many governments are also designing new regulations to reduce ecosystem threats. All these measures are expected to make the current ecosystem much more secure and simple for players as well as customers.
Top Trends in Payments: 2020 explores and analyzes payments ecosystem initiatives and solutions for this year and beyond
INFOGRAPHIC: Smart contracts between hype and realityCapgemini
Smart contracts have the potential to significantly impact the financial services industry by reducing costs and increasing efficiency. A smart contract is a computer program stored on a blockchain that automatically executes transactions when predefined conditions are met. Key benefits include lower administration costs through automation, reduced settlement times, and increased transparency and trust. However, challenges remain around privacy, scalability, regulatory issues, and developing talent with smart contract skills. As the technology matures over the next few years, mainstream adoption by financial firms is expected to begin in 2020.
BBD Seminar - Dr.Pu - Financial Solution for SME v10bbdservice
1) The document discusses challenges that small and medium-sized enterprises (SMEs) face in obtaining financing from traditional sources like banks due to issues with credit assessments.
2) It describes how big data from online sources can help improve credit risk evaluations of SMEs by providing more timely, extensive data beyond just financial statements.
3) Several innovative applications that use big data analytics to evaluate SME credit risks are highlighted, including macro-monitoring tools, dynamic due diligence solutions, and customizable rating models tailored for specific banks.
Lessons from FinTech: Innovators & Disruptors Baker Hill
This document discusses challenges and opportunities in commercial banking. It summarizes views from bankers and innovators on topics like:
1) New competitors and losing market share to digital disruptors
2) Top strategic priorities like enhancing digital experiences and analytics
3) Key challenges like escaping commodity sales and achieving operational excellence in digital banking
4) Partnering with fintechs and disrupting internally to drive innovation
5) Using data and analytics to provide actionable insights and personalized services that meet changing customer expectations.
Telco Paper by Blueocean Market IntelligenceCourse5i
At Blueocean, we are committed to work with large telecom providers who want to go for omnichannel experience for their end consumers.
To learn more about our Digital Customer Experience solution and how it can integrate with your existing technology infrastructure, go through this Short Paper on Telco Industry Solutioning.
Mercer Capital's Value Focus: FinTech Industry | Second Half 2016Mercer Capital
Mercer Capital’s newsletter, FinTech Watch, provides an overview of the FinTech industry, including public market performance, valuation multiples for public FinTech companies, and articles of interest from around the web. This newsletter focuses on FinTech segments, including payment processors, technology, and solutions companies, examining general economic and industry trends as well as a summary of M&A and venture capital activity.
Financial institutions are increasingly partnering with FinTech companies and embracing disruption to remain competitive in a changing landscape. The document discusses:
1) Most incumbents expect to increase FinTech partnerships in the next 3-5 years and adopt blockchain to remain innovative as nearly a quarter of revenues are at risk from standalone FinTech firms.
2) Financial institutions are learning to partner with and integrate FinTech innovations to access new technologies, data, and customers more quickly while managing cultural and regulatory challenges.
3) Emerging technologies like artificial intelligence, blockchain, and data analytics being adopted by FinTechs are enabling greater convergence between incumbents and startups by streamlining processes and improving customer experience.
PWC - Global FinTech Report 2017 - startup Ian Beckett
Financial institutions are increasingly partnering with fintech companies and embracing disruption to remain competitive in a changing landscape. The survey found that 82% of incumbents expect to increase fintech partnerships in the next 3-5 years to help drive innovation. Emerging technologies like blockchain and artificial intelligence are enabling greater convergence between traditional financial services and fintech. Managing expectations during this transition will be important as financial institutions adapt their culture and operations to the disruptive forces of fintech.
The financial volatility unleashed by the
pandemic has opened the doors of opportunity
for Banking and Financial Services (BFS)
companies. Technology-driven digital
transformation is expected to drive further shifts
in this new normal.
The industry will witness the adoption of
innovative technologies driven by emerging
trends. BFS organizations will increasingly
undertake digital transformation to broaden
their capabilities, and maturing FinTechs will
forge partnerships that drive disruptive growth
and customer-focused innovation.
Here, we explore some trends that will shape
the future of the BFS industry
Cisive is a leading provider of risk management and human capital management solutions. It has earned clients' trust over 30+ years by standing by its work, protecting clients, and providing world-class consultation and guidance. Cisive helps employers balance compliance, efficiency, and the candidate experience through technology-enabled solutions. This allows employers to meet hiring goals without compromising on either compliance or efficiency. Cisive continues to expand its global capabilities and solutions to remain an industry leader.
How can data empower next generation FinTech and eCommerce?Charles Mok
This document discusses how data and new technologies can empower next-generation FinTech and eCommerce. It outlines how companies in these sectors are using big data, predictive analytics, personalized recommendations, and other innovations to improve customer experiences and outcomes. The document argues that Hong Kong has strong potential for FinTech and eCommerce success if it fosters effective competition, supports a regulatory sandbox, and adopts holistic policies around areas like talent, infrastructure, data access, and innovation-friendly regulations.
The document provides an overview of HCL Technologies and its growth and business strategies. Some key points:
1) HCL has experienced strong revenue growth, expanding its market share and becoming a challenger to global IT companies.
2) It focuses on delivering value to customers through business-aligned services, strategic account management, and prioritizing customer satisfaction over just growth.
3) HCL aims to support the "reincarnated CIO" by helping clients address challenges like cost reduction, complexity management, and enabling business transformation through technology.
1. Client is an online insurance platform that empowers insurance advisors and identifies appropriate insurance policies for consumers. It has over 1.5 million customers and 235,000 advisors.
2. Client has a lean operational model using a PoSP model where advisors are paid only on commission, leading to positive unit economics and profitability.
3. Client is well positioned compared to peers due to its focus on empowering advisors through technology and competitive commissions. This large advisor network and focus on trust has led to strong growth and profitability.
Fintech is a hot sector among investors, but why?
As a fintech focused VC, take a look at our perspective on why financial services is on the cusp of change.
Smarter Banking Webinar - Transform the Customer Relationship into your Most ...DXC Eclipse
This document discusses how digital transformation can help banks adapt to changing customer expectations and industry forces. It outlines DXC's digital transformation offerings focused on customer experience, digital workplace, business optimization, and systems of insight. The presentation demonstrates capabilities like customer 360 views, business process optimization, financial insights, and bot automation. It also discusses DXC's agile delivery approach and partnership with startups to bring new offerings to market. DXC positions itself as the largest independent Microsoft Dynamics partner with deep industry expertise to help banks transform digitally.
SirionLabs Webinar Featuring Forrester - Plugging Value Leakage in IT Outsour...SirionLabs
Slides from SirionLabs' webinar 'Plugging Value Leakage in IT Outsourcing Engagements' featuring Forrester VP and Principal Analyst, Andrew Bartels.
CIOs and their IT departments often struggle to achieve the full value in strategic IT Outsourcing engagements due to ineffective governance and lack of performance alignment between the enterprise and its suppliers.
This webinar explains:
- The growing importance of service providers to firms (both for IT and for business overall)
- Why the traditional tools and technologies are not adequate to manage today’s complex supplier management challenges
- How CIOs can take the lead in embracing specialized software tools to enable not just the IT organization but the entire enterprise to get the most value from their strategic services suppliers
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L'indice de performance des ports à conteneurs de l'année 2023SPATPortToamasina
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Tired of chasing down expiring contracts and drowning in paperwork? Mastering contract management can significantly enhance your business efficiency and productivity. This guide unveils expert secrets to streamline your contract management process. Learn how to save time, minimize risk, and achieve effortless contract management.
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[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Unlock the full potential of the MECE (Mutually Exclusive, Collectively Exhaustive) Principle with this comprehensive PowerPoint deck. Designed to enhance your analytical skills and strategic decision-making, this presentation guides you through the fundamental concepts, advanced techniques, and practical applications of the MECE framework, ensuring you can apply it effectively in various business contexts.
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LEARNING OBJECTIVES:
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2. Improve Analytical Skills
3. Apply MECE Framework
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5. Optimize Resource Allocation
6. Facilitate Strategic Planning
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Commercial banking outlook: Views from bankers, disruptors and innovators
1. COMMERCIAL & PRIVATE BANKING OUTLOOK
Views from Bankers, Disruptors and Innovators
Presented by Mike Horrocks, Vice President
September 7, 2017
2. Confidential & Privileged Document
Five forces analysis
Competition LandscapeThreat of New Entrants (Power of Supplier) Regulatory & Market
(Power of Buyer) BorrowersThreat of Substitutes/Changes
• FinTech Marketplace lenders and financial
service providers
• Transfer of AI firms from other industries
will change banking capabilities
• Technology and mobile expansion is
rapidly changing the ability for new
entrants to provide alternatives without
huge infrastructure barriers.
• Fed is most likely to adjust interest rates
up over the coming year
• Regulations will most likely loosen,
providing opportunity for all market
participants
• Mobile first driven consumers
• Millennials will have a huge transfer of
assets that will have to be addressed
• Bank to couch/office is becoming channel
of choice
• Continue to see a
consolidation of FI’s,
creating market
pressure among
traditional players
• Partnerships forming
between FinTech
players and traditional
banks change
operational value
7. Confidential & Privileged Document
New competitors and the raid on clients
Percent of market share that full-service banks in North America
could lose to new digital competitors by 2020
35%
Source: Accenture, 2016
8. Confidential & Privileged Document
2017 trends
The U.S. Presidential Administration
impacts on regulation and the
Fed changes on interest rates
Customers get new tools, solidifying
the “mobile first” approach to banking
FinTech companies continue to
drive user experience
Digital transformation continues
Connectivity between systems
begin to open
Onboarding commercial clients
remains a pain point
Obtaining ROI remains a challenge
on some technology projections
9. Confidential & Privileged Document
Top strategic priorities
71%
50%
41%
26%
22%
22%
20%
18%
14%
10%
Redesign/enhance the digital experience
Enhance analytics capabilities to identify customer needs
Find ways to reduce operating costs
Increase investments in innovation
Meet regulatory and compliance specifications
Update/replace components of a legacy operating system
Recruit/retrain talent to meet changing needs
Changing core business processes
Improve components of security and authentication
Invest in and/or partner with alternative fintech providers
What are your organization’s top three strategic priorities in 2017?
Source: Financial Brands, 2017
10. Confidential & Privileged Document
Future investments in commercial solutions
818
855
885
920
955
985
2015 2016 2017P 2018P 2019P 2020P
Regional
Spend in
Millions USD
North America
2015 818
2016 855
2017P 885
2018P 920
2019P 955
2020P 985
CAGR 3.8%
Source: CEB TowerGroup, 2016
11. Confidential & Privileged Document
Top challenges in commercial banking
1. Escaping the commodity sale
2. Operational excellence in the digital age
3. Disrupting within the bank
4. Business growth through actionable insights
5. Changes in customer expectations
12. Confidential & Privileged Document
1. Escaping the commodity sale
Features
Local Expertise Years of
Experience
“The right financing
tools can streamline
your cash flow.”
“Our decisions are made
locally and are tailored
to the needs of your
business.”
“[Our bank] offers local
expertise in all aspects
of…solutions…”
“[Our bank] is a
community-focused
regional bank.”
“A small business checking
account that offers more
control and access.”
“…in addition to
traditional credit and
financing solutions.”
“For the last 165 years,
our customers come
first.”
“First more than 100
years…”
“Why bank with us? We
have over 135 years of
experience.”
“Why [our bank]? Our
Experience, Strength
and Stability.”
“Substantial experience,
with many team members
averaging 15 to 20 years.”
13. Confidential & Privileged Document
Avoid being a commodity
93 YEARS TO BUILD
610,000 ROOMS, 88 COUNTRIES
4 YEARS TO AMASS
650,000 ROOMS, 192 COUNTRIES
Source: Hilton and Airbnb, 2017
14. Confidential & Privileged Document
Replaced value: tech & convenience
$20
Billion Market
Capitalization
$31
Billion Venture
Capital Funding
Source: Google Finance, Hilton and Airbnb, 2017
15. Confidential & Privileged Document
Uberization of banking
• The commodization
of lending and
deposit products
creates a threat for
your bank.
In your industry, how many companies will lose their place in the top 10
due to digital disruption (over next five years?
More companies at risk
Fewer companies at risk
3.7
average
2.5
4.3
Oil & Gas
Utilities
Pharmaceuticals
Media & Entertainment
Healthcare
CPG & Manufacturing
Telecommunications
Technology Products & Services
Education
Retail
Financial Services
Hospitality/Travel
Source: Knowledge@Wharton, 2017
16. Confidential & Privileged Document
Outlook on FinTech
39%
31%
30%
Yes
No
Not Sure
Q. Do you and your bank
colleagues consider FinTechs a
significant threat to your
industry in the next few years?
Source: KPMG, 2016
19. Confidential & Privileged Document
Achieving operational excellence
Digitize end-to-end
the customer
experience
Digitize products and
services as part of the
value ecosystem
Create trusted
analytics
Source enhanced
operational
capabilities in the
dynamic ecosystem
Drive rapid customer
centric innovation
Digitize for agility over
efficiency
Commercial &
Private Banking
Customers
Financial
Institution
22. Confidential & Privileged Document
3. Disrupting within the bank
• An obsession with the customer experience
• They are unreasonably aspirational
• They ring-fence and cultivate digital talent
• They acquire new capabilities
• They are quick and data-driven
• They follow the money
• They challenge everything
23. Confidential & Privileged Document
Acceptance of innovation
32%
44%
20%
4%
Always embraced
Often embraced
Sometimes embraced
Never embraced
Q. Acceptance of innovation
and change in my institution is:
Source: KPMG, 2016
25. Confidential & Privileged Document
Outlook on FinTech
51%
33%
16%
Yes
No
Not Sure
Q. Has your bank already
created a strategic alignment or
joint venture with a peer-to-
peer lender or marketplace
lender for the purpose of
creating consumer or business
loans?
Source: KPMG, 2016
26. Confidential & Privileged Document
Collaborating with FinTech
59.3% Banking executives agree that FinTechs are setting the bar higher
Approaches to build FinTech Capabilities and Drive Innovation
Partnership / Collaboration
Setting up Accelerators
Acquire Non-traditional/
FinTech Firms
Develop In-house Capabilities
Funding /
Investment in FinTechs
Source: Cap Gemini, 2017
27. Confidential & Privileged Document
Collaborating with FinTech
Increased customer experience
Environment for innovation
Reduced cost of operations
Deriving better insights from data
Delivering personalized services
Benefits from collaboration with FinTechs
77.8% Banking executives say that FinTechs provide opportunity for partnerships
Source: Cap Gemini, 2017
28. Confidential & Privileged Document
4. Growth through actionable insights
Trusted advice from the bank
Holistic Relevant Insightful Actionable
29. Confidential & Privileged Document
What is a cognitive bank?
Cognitive systems are helping banks
become more agile so they can manage
the ever-growing demands of customers,
compliance and the competition.
What is a cognitive bank?
30. Confidential & Privileged Document
Cognitive banking
Front Office (Branches and
call centers)
Customer-Facing AI – Chatbots,
Cognitive Agents
Support
AI and Cognitive
Enabled Analytics
Bank Office (Data
Entry, Processing)
Cognitive Advisors, Robotic
Process Automation
Compliance, Policies
and Regulations
AI-Enabled Expert
Systems
31. Confidential & Privileged Document
5. Changes in customer expectations
• End-to-end solutions
• Industry specific solutions
• Faster and simpler solutions
Source: American Banker, 2015
32. Confidential & Privileged Document
Enabling anytime access to client information
Cloud Storage
MobileServers
Desktop
iPad
Banker / Advisor Client
Achieve by integrating
information systems
across lines of business
and multiple channels
• Commercial
• Private banking
• Trust
Integration of
Firm-Wide
Information
Systems and
Tablet
Applications into
Client Interactions Bank
Client
33. Confidential & Privileged Document
“Data first” leverages “mobile first”
Demographic
Product
Transaction
Communication
Customer
Information Systems
Enterprise Data
Warehouse
• Collects and maintains
customer information
across all product
lines, businesses, and
channels
• Aggregated customer
information is pushed
to data end users.
Customer
Relationship
Management
System
Branch Sales
and Service
System
Marketing
Associate
Banker
Representative
Branch Teller
Customer Information
End Users
36. Confidential & Privileged Document
Process automation
Onshore Labor
Improved Quality:
• 100% accuracy
Scalability:
• Training of robots can be done at
the same time
Higher Efficiency:
• Ability of working 24x7
Cumulative
productivity
improvement
Offshore Labor Digital Labor
Improved Service Delivery:
• Improved process quality, speed,
and continuity
Operations Optimization:
• Improved data gathering and
optimized operations
Regulatory Compliance:
• 100% compliance with stated
regulatory requirement
Decrease in
cycle time and effort
Cost Savings:
• Cost reduction of 35-65% in
onshore and 10-30% in offshore
delivery
Quick Breakeven:
• Investment recovery period of 6-
9 months
Costs fraction of Human Equivalent:
• Cost 1/3 of an offshore FTE and
1/5 of an onshore FTE
Increase in
efficiencies in running
the business costs
37. Confidential & Privileged Document
Bring the bank to the customer
Tablet application capabilities enable consistent, high-quality advisory conversation.
Client: Willis Household
& Willis Inc.
Personal
Information
Business
Information
Goals
Product Holdings
Meeting Notes
KYC Information
Information Update
Client: Willis Inc.
Account: 294829
Inventory of Assets
Beneficiary Forms
Electronic Signature
Market Summary
25 Aug 2017
News Highlights
Key Planning Topics
Retirement
Estate Planning
Help Guides
Internal
Communication
Client Information Market Updates
Digital Real-Time
Information and Straight-
Through Processing
Advisory Topic Talking
Points and Training Clips