The world of finance and insurance is changing. Digital is impacting every aspect of banking, not just for B2C but also for B2B. This presentation for Belfius Corporate Banking, shows the signs of disruption while offering a framework to deal with digital transformation.

1. M A S T E R I N G
D i g i t a l
Transformation
I N B A N K I N G
JO CAUDRON
+32 475 43 80 98
@JCAUDRON
JO@DUVALUNION.COM

2. Hi, I’m Jo Caudron
Active in digital since 1993
Internet entrepreneur involved
in 20+ start-ups.
Founding Partner of
Duval Union Consulting
@jcaudron
jo@duvalunion.com
We are business
consultants for a digital
world.
Our mission is to help
organizations transform.

3. Are you an active social media user?
Do you embrace new technology?
Do you get your kicks from new business models?
Who
Are
You?

4. Sold in 40
countries!
BUY NOW! www.digitaltransformationbook.com

5. Expect a smack in the face…
Digital Disruption is real

6. 100.000jobs in banking got lost in 2015, because of
digital disruption (Antony Jenkins, the former
CEO of Barclays)

7. What do
These 4 have
in common?

8. 1995+
Music
Photography
Video Rental
…
2005+
Print Media
TV
Travel
HR
…
2015+
Retail
Banking/Insurance
Healthcare
Automotive
Education
Telco
Food/FMCG/CPG
…
2025
All Safe
havens will be
subject to
digital
disruption
…
WAVES OF Disruption

9. What can we learn?

10. Digital Disruption is a story of…
%

11. This is NOT our story
YOU THEM
We are COMPLIANT!
We are a TRUSTED partner!
We have DECADES of experience!
We are on SOCIAL MEDIA!

12. YOU
We are COMPLIANT!
We are a TRUSTED partner!
We have DECADES of experience!
We are on SOCIAL MEDIA!
THEM
This IS our story
But your
app sucks
I want
experience
Uhh..ok
Hey this
solves my
problem!
I don’t want
to wait a
week
NEW

13. YOU THEM
The Tipping Point

14. THE IMPACT OF
D I G I T A L

15. Slicing the
Elephant
creates Insight
@jcaudron

16. The relationshipis changing
between the organization and the
outside world.
The Glass House
@jcaudron

17. The Glass
House
Accountability Proximity Responsiveness Bi-directional Humanization AuthenticityTransparency

18. The Glass
House
Accountability Proximity Responsiveness Bi-directional Humanization AuthenticityTransparency
vwdieselinfo.com/updates/message-to-our-customers-from-
michael-horn-president-and-ceo-volkswagen-group-of-
america/
Transparency
MagnifyMoney is a company that
analyses different products from
different banks. It gives every product
a transparency score guiding the
customer away from less transparent
products/banks
magnifymoney.com

19. The Glass
House
Accountability Proximity Responsiveness Bi-directional Humanization AuthenticityTransparency

20. The Glass
House
Accountability Proximity Responsiveness Bi-directional Humanization AuthenticityTransparency
Proximity
In banking, proximity does not mean
having an office in every town, it also
means being close to your customers in a
digital way.
standardbank.com

21. The Glass
House
Accountability Proximity Responsiveness Bi-directional Humanization AuthenticityTransparency
Humanization
Simple uses the lack of public faces in
finance to its advantage by showing off
the people behind their customer
support
simple.com

22. The evolution of unbundling and
how this changes your products,
services and go-to-market.
The Package
@jcaudron

23. The Package APPification Long Tail Personalized Experience Speed PriceMonolithic vs. Atomic (Self-)service Scalability
Angry Birds
Twitter,
Facebook
Newspaper Website
CNN online /
app
Blogs
Vertical sites and
specialties portals
Yelo App
Apple TV
Spotify
Sporza.be
LinkedIn,
Monster, ...
eBay
Pinterest, blogs
Weather Pro (iPhone)
Traffic: Waze
YouTube
Twitter,
Facebook
RSS
Breaking
news
In-depth
analysis
Services
Weather
Classifieds
Jobs
Sports
TV
Fun
Specials
Discovery
Culture
Trends &
Lifestyle

24. The Package APPification Long Tail Personalized Experience Speed PriceMonolithic vs. Atomic (Self-)service Scalability
Vertical selling

25. The Package APPification Long Tail Personalized Experience Speed PriceMonolithic vs. Atomic (Self-)service Scalability
Monolithic vs. Atomic
Because of digital, the classic banking
package falls apart and is cherry
picked by many online only players.
This makes it more difficult for classic
banks to defend the price they charge
for the different products.

26. The Package APPification Long Tail Personalized Experience Speed PriceMonolithic vs. Atomic (Self-)service Scalability
APPification
Robinhood is a technology driven
company focused on reducing overheads
and cutting the traditional fat. Because of
low overheads and being digital only
they can provide free stock trading.
robinhood.com

27. The Package APPification Long Tail Personalized Experience Speed PriceMonolithic vs. Atomic (Self-)service Scalability
squareup.com
Experience
personalcapital.com
Personal Capital is a wealth management
tool that allows users to control and get
data from their net worth, analyze fees,
check on their investments and plan their
retirement. They have consultants that can
actively manage your capital if you want.

28. The position in the value chain
is challenged. You can bypass, or
be bypassed.
The Frog
@jcaudron

29. The Frog Bypassing Virtualization Fragmentation of touchpoints
Bypassing
If you can sell expensive cars
online, you can sell anything online.

30. The Frog Bypassing Virtualization Fragmentation of touchpoints
Bypassing
Apple, Android and Samsung Pay are
becoming the interface for consumers

31. The Frog Bypassing Virtualization Fragmentation of touchpoints

32. The Frog Bypassing Virtualization Fragmentation of touchpoints

33. Opinion makingis challenged.
New players can dominate the
attention of people.
The Gatekeeper
@jcaudron

34. The Gatekeeper New Gatekeepers Recommendations “Good is good enough” Ambassadorship
Crowd-sourced opinions
Peers as news distributors
Automatic algorithms
The traditional gatekeeper
New “experts”
+
+
+

35. The Gatekeeper New Gatekeepers Recommendations “Good is good enough” Ambassadorship
New gatekeepers
PolicyGenius might become a new way
to search for policies. Thet lets you
compare insurance policies from
different providers.
policygenius.com

36. The Gatekeeper New Gatekeepers Recommendations “Good is good enough” Ambassadorship
New Gatekeepers
Mobile payment providers are a
layer on top of the traditional
payment providers. These new
players take over there touchpoints
and become new gatekeepers and
a new power in the payment
ecosystem.

37. The Gatekeeper New Gatekeepers Recommendations “Good is good enough” Ambassadorship
New Gatekeepers
Centralway’s Numbrs app allows you to
integrate over 3500 German banks into
one app. It has investments from
Andreessen Horowitz & Google
Ventures
centralway.com

38. The Gatekeeper New Gatekeepers Recommendations “Good is good enough” Ambassadorship
New Gatekeepers
Bots or programs can become so
powerful to the end-user that they
become new gatekeepers creating
their own ecosystem.
kasisto.com

39. Primary location and placeof
consumption are changing. There is
a need to merge offline and online
The Traveller
@jcaudron

40. @jcaudron

41. The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness
PLACE OnlinePoS
Hybrid
Omnichannel
(digital entering PoS)
(all functions go digital too)

42. The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness

43. The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness
monzo.com
Place
Monzo is a mobile only bank from the
UK. They model the product around the
user experience.
monzo.com

44. Consumers are uniting. The
power of the crowd can be
good or bad for your organization.
The Participant
@jcaudron

45. The Participant Community Power of the crowd Sharing economyCollaboration
Sharing economy
From scarcity
to abundance

46. The Participant Community Power of the crowd Sharing economyCollaboration
duvalunionconsulting.com
Sharing economy
Explanation
Peer-to-Peer Lending as an alternative
to keeping money in the bank.
lendingclub.com
DTM RCB 2014
DTM PCB 2016
DTM RCB 2016

47. The Participant
Community
Open Folio
“Wall street meets Twitter”
A social media sharing site for the
investment crowd
openfolio.com
Community Power of the crowd Sharing economyCollaboration

48. The Participant Community Power of the crowd Sharing economyCollaboration
Ambassadorship
You get a percentage of the profit
of your followers, encouraging
users to be ambassadors for the
platform.etoro.com

49. Technologykeeps progressing.
We are only at the beginning of
the digital revolution.
The Cyborg
@jcaudron

50. The Cyborg
Data
Fidor’s APIs make it the most
open bank in the world.
developer.fidor.de
Wearables Quantified SelfInternet of Things Robotics Data Monitoring

51. The Cyborg
Robotics
Algorithms are leading to smarter
investing and a levelled playing field.
Wearables Quantified SelfInternet of Things Robotics Data Monitoring
quantopian.com

52. The Cyborg
Internet of Things
Watson for insurance can handle large
amounts of data (wearables) and use
this data to better protect their
policyholders and give them a tailored
product. Often going from reactive to
proactive.ibm.com
Wearables Quantified SelfInternet of Things Robotics Data Monitoring

53. The Cyborg Wearables Quantified SelfInternet of Things Robotics Data Monitoring

54. Are you
Scared or
Inspired?
@jcaudron

55. Don’t worry,
we’ve got a PLAN
@jcaudron

56. YOU NEED TO
Scan YOUR
ENVIRONMENT
@jcaudron

57. DETERMINE
THE IMPACT
@jcaudron

58. CREATE A
North Star
VISION
@jcaudron

59. DEFINE A
Transformation
STRATEGY
@jcaudron

60. DEFINE A
Transformation
STRATEGY
@jcaudron
BUILD A
ROAD MAP
@jcaudron

61. KNOW
YOUR
AUDIENCE

62. WHO DO YOU SERVICE?

63. @jcaudron

64. WHO DO YOU SERVICE?

65. @jcaudron

66. WHO DO YOU SERVICE?

67. @jcaudron

68. WHO DO YOU SERVICE?

70. YOU CHALLENGERS
The Challengers move into your space,
when will you move into theirs?

71. F R O M DIGITIZATION
T O TRANSFORMATION

72. BUILD a new
ORGANIZATION

73. From ... ... to
The Business
Digital (at
the sideline)
Digital in
the core

74. The Business
Digital (at the
sideline)
The Business
Digital (at
the sideline)
From ... ... to

75. The Business
Digital (at the
sideline)
Digital in
the coreThe Business
Digital (at
the sideline)
Digital in
the core
Digital in
the core
Digital in
the core
From ... ... to

76. From an outdated
MOTHERSHIP

77. From an outdated
Mothership
TO A modern
F L E E T

78. D I G I TA L
Leadership
@jcaudron

79. “If you can't understand the new
world of digital, fire yourself.
Build an executive team that is
digital-first (when problems arise,
the first solution is always digital).
Make sure there is a techie on the
board of directors. If the board
has a low digital IQ, the company
will have a low digital IQ”
George Colony
CEO Forrester Research
So, where are you?
How digital is your
company?
Digital Leadership

80. “We all understand
that our world is
changing because of
digital”
Digital Leadership

81. of your culture

82. @jcaudron
1.
The customer always decides

83. @jcaudron
2.
All things you do
must start from a
superior
experience

84. @jcaudron
3.
From now on, you
are an agile and
flexible company

85. @jcaudron
4.
You live in a world of
uncertainty

86. @jcaudron
5.
Always play on offence
instead of defence

87. @jcaudron
6.
Don’t be afraid to cannibalise
your own business

88. @jcaudron
7.
Never, ever, disrespect
new or small players

89. Never, ever, disrespect new or small players
The customer always decides
All things you do must start from a superior experience
From now on, you are an agile and flexible company
You live in a world of uncertainty
Always play on the offense instead of the defense
Don’t be afraid to cannibalize your own business

90. you are no longer
too bigto fail

91. TO PULL THIS OFF
YOU WILL NEED…
@jcaudron

92. M I N D S E T
@jcaudron

93. M E A N S
@jcaudron

94. M A N D AT E
@jcaudron

95. Digital Transformation is a
complex and never-ending
journey

96. TRANSFORMATION
STRATEGY
ROADMAP
DIGITAL
LEADERSHIP &
CAPABILITIES ASSESS
TEAMS
TRAIN &
COACH
CHANNEL
STRATEGY
POLICY &
GOVERNANCE
SET-UP AND
ROLL-OUT RUN
ROLL-OUT
DIGITAL OFFICE
RUN DIGITAL
OFFICE
CUSTOMER
ENGAGEMENT
CHANNELS
PLATFORM
DESIGN
REQUIREMENTS
PARTNER
SELECTIONRFP
CREATION
LAUNCHDEVELOPMENT
BUSINESS/SERVICE/
PRODUCT DESIGN TRADITIONAL
BUSINESS MODEL
START-UP
BUSINESS MODEL
PROJECT
KICK-OFF
START-UP KICK-
OFF (FUNDING,
INCUBATION)
RUN PROGRAM/
DEVISION/…
RUN START-UP
(COACHING,
ADVICE)
START-UP
BUSINESS
TRADITIONAL
BUSINESS
TRANSFORMATION
STRATEGY
IMPACT
ANALYSIS
NORTH STAR
VISION OF
YOUR FUTURE
SCAN
MARKET TRENDS &
INTERNAL DIGITAL
READINESS

97. Thank You!
DOWNLOAD THE SLIDES
www.speakersbase.com/JO

98. M A S T E R I N G
D i g i t a l
Transformation
I N B A N K I N G
JO CAUDRON
+32 475 43 80 98
@JCAUDRON
JO@DUVALUNION.COM