Objective: Study and analyse any current trend in the field of Financial Management with the use of case studies and research papers. Case Study taken: Citizens Access by Citizens Bank USA. Flow of the PPT: 1. Introduction - Meaning of Fintech 2. About Citizens Bank 3. Use of Citizens Access by Citizens Bank 4. Need Analysis and Success Metrics 5. Notable Start-ups in Fintech 6. Conclusion 7. Research Paper references

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2. Digital Innovation in the Financial Industry
Improve use and delivery of Financial Services
E-Wallets
Mobile
Banking
Cloud
Services
Machine
Learning
Block-
chain
Regtech
P2P
Lending
Cyber
Security
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3. Largest retail bank in
The United States
Worth of Total Assets
(US $)
51%
49%
Business Mix
Consumer
Banking Loans
Commercial
Banking Loans
Consumer Banking products and services: Banking, wealth management and small business offerings.
Commercial Banking products and services: Capital markets, foreign exchange and interest rate products and
asset finance.
USE OF FI NTE C H BY
About Citizens Bank
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4. USE OF FI NTE C H BY
Launched in Mid-2018 Entirely Digital Bank
They don’t charge any Fees Simple Access: Only Savings and Deposits
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5. USE OF FI NTE C H BY
2.20% APY
vs
US Average of 0.09%
2.25% APY
vs
US Average of 0.12%
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6. USE OF FI NTE C H BY
• US $1 billion+ in deposits within the first three months of its launch
• Citizens Bank – Presence in 11 States while, Citizens Access: Users from all 50 States
• Minimum Balance in Saving Account: $5,000; Average Balance: $70,000
Success Metrics
Something that could get things done on the run, secure and competitive on interest rates
Need
Citizens Access to the rescue
Great Customer Experience – Open an account in no more than 5 minutes
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7. NOTABLE START-UPS IN FINTECH
Simplified online wealth management
Save tax by identifying investment avenues that qualify for 80C
Robo-Advisory Company
Define financial goals and choose the funds which suit them
Social Trading Platform
Social News feed: Community of Investors
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8. CONCLUSION
STRENGTHS WEAKNESS
1. Enhanced Customer Experience
2. Ease of Access to Financial Services
3. Cost Efficient (for Service Provider)
1. Some people still trust traditional systems
over Fintech-enabled systems
2. Some org. fail to address privacy concerns
OPPORTUNITIES THREATS
1. Financial inclusion of Remote areas
2. Use of AI and Data Science
3. Declining cost of internet services
4. Remote Banking, P2P lending, Social trading
1. Vulnerability to Cyber Crimes
2. Potential abuse of the easy access
3. Compliance risks to service providers
4. High operational risks
Fintech has a huge potential. A right balance of innovation and
regulation can help an organisation to gain success in this sector.
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9. THANK YOU.
Reference List:
1. Basel Committee on Banking Supervision (2017). Sound Practices: Implications of fintech developments for banks and
bank supervisors. Retrieved from Basel-Switzerland, https://www.bis.org/bcbs/publ/d415.htm
2. Courbe, J. (2017). Financial Services Technology 2020 and Beyond: Embracing disruption. Retrieved from PWC,
https://www.pwc.com/gx/en/financial-services/assets/pdf/technology2020-and-beyond.pdf
3. Al Ajlouni, Ahmed & Al-Hakim, Monir. (2019). Financial Technology in Banking Industry: Challenges and Opportunities.
Retrieved from Research Gate,
https://www.researchgate.net/publication/331303690_Financial_Technology_in_Banking_Industry_Challenges_and_
Opportunities
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