4. Financial institutions were built for the physical
distribution of paper in a localized network
Financial institutions need to design for the digital
distribution of data in a globalized network
5. from Physical to Digital
from Channel to Access
from Product to Customer
30. Revenues Expenses
October 2011
Launch of X.commerce API October 2011
Launch of X.commerce API
June 2013
Launch of mobile API June 2013
Launch of mobile API
33. This is about more than currency and traditional
payments…
Asset Transfer with Finality
Advanced Transaction
Scripting (Ethereum)
“Digital Scarcity”
Near-Instant, Near Free
International Value Transfer
Transaction Scripting
Open Access through API or
Protocol
Public Visibility of
Transactions
The First Killer-App?
“Push Payment” by Design
A new Custody Model?
Smart Property Revolution in Retail
“Programmable Money”
“Economy of Things”
A new model for AML
Smart Contracts
The Core Bitcoin
Innovation
34.
35.
36. RETAIL BANKING
PRIVATE BANKING
COMMERCIAL BANKING
TRANSACTION BANKING
INVESTMENT BANKING
INSURANCE
Every single smart computer
science person I’ve had look into it
has reached the same conclusion
— Blockchain is a fundamental
breakthrough in technology
“
Mark Andreessen ”
http://techcrunch.com/2014/02/12/marc-andreessen-tech-is-still-recovering-from-a-depression/
45. from Physical to Digital
= component-based finance
from Channel to Access
from Product to Customer
46. WEB/TABLET “SCREENS”
7–10 times
per month
CALL CENTRE, IVR & VOICE RESPONSE
BRANCH
5–10 times
per month
5–10 times
per month
ATM
3–5 times
per month
MOBILE
20–30 times
per month
2016
Digital interactions with
banks will outnumber
branch interactions 300 to 1
47. Barclays took 13 years to get two million
customers using internet banking.
It took just two months to reach
that number for mobile banking.
The average Barclays customer visits a
branch less than twice a month and uses the
mobile app 26 times a month
48. Only 5% of customer interaction in the banking
industry will be in branch by 2017
– BBVA
60. You need to be social because
that’s where your customers are.
61. Average Facebook user has 338 friends*
2,000 Likes = 676,000 Views
Average cost to gain a registration: €1.33
Average cost to gain a fully KYC processed customer: €16.70
* Pew Research
62. Social capitalism…
P2P payments
Crowdfunding
Social lending
Alternative finance
…the result of when work & life collide
63. from Physical to Digital
= component-based finance
from Channel to Access
= rearchitect the core
from Product to Customer
= build communities
65. Agricultural Revolution coins
Industrial Revolution notes and checks
Service Revolution cards
Digital Revolution chips
66.
67. Within 15 years, “computers will be at human levels, such that you can have
an emotional relationship with them.” Ray Kurzweil
68. “It’s not an operating system; it’s a consciousness”
Editor's Notes
September 2014
Barclays Mobile Apps have been downloaded more than 5 million times since launch in 2012, and are being accessed 17.5 million times a week
Barclays Mobile Apps move over £4 billion ($7 billion) a month (US$2,500 every second / $160,000 every minute)
The bank is cutting 1,700 customer-facing jobs from the branch network