There are several ways in which banks and marketplace lenders can partner to serve customer needs. This document provides a point of view on ways in which banks and marketplace lenders can partner up and strategic considerations
Investments in Customer Centricity Are Seeing Dividends for Financial Service...1to1 Media
A look at how Retail Banks and Insurance Companies are evolving their product-focused missions into customer-centric strategies for financial gains. www.1to1media.com
The document discusses the "Customer Experience Gap" faced by community banks and credit unions. This is the divide between rising customer expectations for digital and integrated financial experiences, and what these institutions currently offer. It notes big banks and fintech disruptors are pushing customer expectations higher. To overcome this gap, the document argues community banks must quickly enhance their digital offerings to provide personalized, consistent experiences across channels to attract and retain customers of all generations.
Why Banks Must Become Smart Aggregators in the Financial Services Digital Eco...Cognizant
Banks must embrace smart aggregation strategies in order to remain competitive amid increasing digital disruption from fintechs and other non-bank rivals. Smart aggregation allows banks to expand their capabilities by partnering with other organizations and accessing new technologies, while still retaining control over customer relationships. The document outlines three key trends driving this need for banks to aggregate: shifting consumer preferences especially among millennials, the rise of fintechs and other competitors, and new consumer-oriented regulations. It provides guidance for banks on developing smart aggregation strategies, such as partnering with fintechs, establishing an open platform for others to build upon, and emphasizing "slow money" services as transactional products become commoditized.
Going Digital: What Banking Leaders Need to KnowCognizant
Banks need to embrace digital transformation by putting customers first, using data to gain insights, and managing organizational change. To succeed, banks must put customer data at the heart of interactions, evolve a customer-focused culture, and oversee new processes and structures that support digital initiatives and change. This will allow banks to regain customer trust and relevance in the digital era.
The development of it in economic growth in usa & bangladeshRafi Afnan
This document is an assignment submitted by Rafi Afnan to Jewel Kumar Roy on the topic of fintech and its potential to disrupt traditional financial institutions. It summarizes findings from a World Economic Forum report that identified 5 key characteristics of fintech innovators that make them more threatening to incumbents than past innovators. These include highly focused products, automating processes, strategic use of data, platform-based models, and collaborating with incumbents. The document concludes that while brands may survive, fintech will force changes that benefit consumers. It then briefly previews emerging technologies in 2019 like 5G that could enable further fintech innovations.
MX helps financial institutions demonstrate the tangible benefits of investing in digital money management solutions through detailed ROI calculations. Research shows digital money management users are wealthier and more profitable customers who use more accounts and services. These "moneyhawks" generate higher revenues and are less likely to switch banks. MX can help reduce customer attrition and increase cross-selling by integrating its platform, generating cost savings and revenue increases that justify the investment in digital money management.
The fintech sector is being shaped by shifting market conditions, new regulations, and changes in consumer demands and behaviors.
For the past decade, fintech companies—technology firms that focus on financial products and services—have moved quickly, forcing incumbents to rethink their core business models and embrace digital innovations. But now, the fintech industry is itself maturing and entering a period of rapid change. Companies wondering how they will fit into this new era must first understand the forces that are pushing the changes.
While the industry will undoubtedly continue to expand as its customer base grows and investor appetite remains unsated, changes are imminent. Indeed, the very concept of what comprises fintech will shift. As the industry evolves, it will play a role well beyond financial products and services, individual companies will vie to become undisputed leaders by size and breadth, and ecosystems will develop that have a tight grip on customer loyalty.
Despite a sluggish economic recovery, Americans continue to shell out ever-growing amounts during high-spending times of the year. Take, for example, the record $4.7 billion consumers spent on movie tickets during the summer of 2013 and their total holiday purchases, which have been climbing steadily since 2010 after a two-year drop. During the run-up to these free-spending periods, companies put in many long hours devising sales strategies to maximize consumer engagement and ROI. Consumers plan ahead, too, relying on friends, family, social media and mobile devices to research products, land the best deals and discover the ultimate customer experience.
During these times, loyalty programs take center stage – not just in the retail sector but also in financial services. And some exciting recent developments have helped financial services loyalty programs turn the image of the faceless, unresponsive bank into one that is driving genuine customer engagement year-round, including:
• The evolving importance of Big Data and its accumulation and analysis beyond traditional loyalty metrics. Financial services, like other verticals, are learning to cater holistically to customers. What can a brand learn about program members outside of how they shop, what they buy and how they interact with their financial institution? How does their lifestyle impact their loyalty experience?
• The growing need for FIs to get moving on mobile while attracting, engaging and retaining Millennials – a generation poised for significant spending power, but whose loyalty remains up for grabs. Banks need to be where their customers are and increasingly that means offering them an on-the-go experience that is seamless, intuitive and fun.
• The fundamental rethinking of how a customer’s predicted long-term economic value – commonly known as customer lifetime value (CLV) – is determined. FIs must embrace CLV as the total amount customers could spend over time if properly engaged, with transactional barriers removed.
These trends – and additional insights – are at the heart of the Kobie Quarterly Review: Financial Services edition. Its goal is simple: to educate readers about the evolving loyalty landscape in specific industries and where it’s heading. Our Quarterly Review also offers suggestions and analyses on how brands can improve their loyalty efforts, discussions on mobile technology and today’s two-way brand-consumer dialogue.
We hope the Kobie Quarterly Review: Financial Services edition broadens your appreciation for what loyalty programs are all about - a way for brands and customers to truly develop genuine relationships – relationships that can grow as robust as the most revered financial institutions.
Tell us what you think and keep the conversation going.
Michael Hemsey, President
Kobie Marketing
Investments in Customer Centricity Are Seeing Dividends for Financial Service...1to1 Media
A look at how Retail Banks and Insurance Companies are evolving their product-focused missions into customer-centric strategies for financial gains. www.1to1media.com
The document discusses the "Customer Experience Gap" faced by community banks and credit unions. This is the divide between rising customer expectations for digital and integrated financial experiences, and what these institutions currently offer. It notes big banks and fintech disruptors are pushing customer expectations higher. To overcome this gap, the document argues community banks must quickly enhance their digital offerings to provide personalized, consistent experiences across channels to attract and retain customers of all generations.
Why Banks Must Become Smart Aggregators in the Financial Services Digital Eco...Cognizant
Banks must embrace smart aggregation strategies in order to remain competitive amid increasing digital disruption from fintechs and other non-bank rivals. Smart aggregation allows banks to expand their capabilities by partnering with other organizations and accessing new technologies, while still retaining control over customer relationships. The document outlines three key trends driving this need for banks to aggregate: shifting consumer preferences especially among millennials, the rise of fintechs and other competitors, and new consumer-oriented regulations. It provides guidance for banks on developing smart aggregation strategies, such as partnering with fintechs, establishing an open platform for others to build upon, and emphasizing "slow money" services as transactional products become commoditized.
Going Digital: What Banking Leaders Need to KnowCognizant
Banks need to embrace digital transformation by putting customers first, using data to gain insights, and managing organizational change. To succeed, banks must put customer data at the heart of interactions, evolve a customer-focused culture, and oversee new processes and structures that support digital initiatives and change. This will allow banks to regain customer trust and relevance in the digital era.
The development of it in economic growth in usa & bangladeshRafi Afnan
This document is an assignment submitted by Rafi Afnan to Jewel Kumar Roy on the topic of fintech and its potential to disrupt traditional financial institutions. It summarizes findings from a World Economic Forum report that identified 5 key characteristics of fintech innovators that make them more threatening to incumbents than past innovators. These include highly focused products, automating processes, strategic use of data, platform-based models, and collaborating with incumbents. The document concludes that while brands may survive, fintech will force changes that benefit consumers. It then briefly previews emerging technologies in 2019 like 5G that could enable further fintech innovations.
MX helps financial institutions demonstrate the tangible benefits of investing in digital money management solutions through detailed ROI calculations. Research shows digital money management users are wealthier and more profitable customers who use more accounts and services. These "moneyhawks" generate higher revenues and are less likely to switch banks. MX can help reduce customer attrition and increase cross-selling by integrating its platform, generating cost savings and revenue increases that justify the investment in digital money management.
The fintech sector is being shaped by shifting market conditions, new regulations, and changes in consumer demands and behaviors.
For the past decade, fintech companies—technology firms that focus on financial products and services—have moved quickly, forcing incumbents to rethink their core business models and embrace digital innovations. But now, the fintech industry is itself maturing and entering a period of rapid change. Companies wondering how they will fit into this new era must first understand the forces that are pushing the changes.
While the industry will undoubtedly continue to expand as its customer base grows and investor appetite remains unsated, changes are imminent. Indeed, the very concept of what comprises fintech will shift. As the industry evolves, it will play a role well beyond financial products and services, individual companies will vie to become undisputed leaders by size and breadth, and ecosystems will develop that have a tight grip on customer loyalty.
Despite a sluggish economic recovery, Americans continue to shell out ever-growing amounts during high-spending times of the year. Take, for example, the record $4.7 billion consumers spent on movie tickets during the summer of 2013 and their total holiday purchases, which have been climbing steadily since 2010 after a two-year drop. During the run-up to these free-spending periods, companies put in many long hours devising sales strategies to maximize consumer engagement and ROI. Consumers plan ahead, too, relying on friends, family, social media and mobile devices to research products, land the best deals and discover the ultimate customer experience.
During these times, loyalty programs take center stage – not just in the retail sector but also in financial services. And some exciting recent developments have helped financial services loyalty programs turn the image of the faceless, unresponsive bank into one that is driving genuine customer engagement year-round, including:
• The evolving importance of Big Data and its accumulation and analysis beyond traditional loyalty metrics. Financial services, like other verticals, are learning to cater holistically to customers. What can a brand learn about program members outside of how they shop, what they buy and how they interact with their financial institution? How does their lifestyle impact their loyalty experience?
• The growing need for FIs to get moving on mobile while attracting, engaging and retaining Millennials – a generation poised for significant spending power, but whose loyalty remains up for grabs. Banks need to be where their customers are and increasingly that means offering them an on-the-go experience that is seamless, intuitive and fun.
• The fundamental rethinking of how a customer’s predicted long-term economic value – commonly known as customer lifetime value (CLV) – is determined. FIs must embrace CLV as the total amount customers could spend over time if properly engaged, with transactional barriers removed.
These trends – and additional insights – are at the heart of the Kobie Quarterly Review: Financial Services edition. Its goal is simple: to educate readers about the evolving loyalty landscape in specific industries and where it’s heading. Our Quarterly Review also offers suggestions and analyses on how brands can improve their loyalty efforts, discussions on mobile technology and today’s two-way brand-consumer dialogue.
We hope the Kobie Quarterly Review: Financial Services edition broadens your appreciation for what loyalty programs are all about - a way for brands and customers to truly develop genuine relationships – relationships that can grow as robust as the most revered financial institutions.
Tell us what you think and keep the conversation going.
Michael Hemsey, President
Kobie Marketing
The revolution that business is undergoing at the hands of social media continues to dominate discussion in the financial services world.
While virtually all organizations are adapting in some manner to the new possibilities and challenges presented by social business, some industries face specific hurdles when looking to do so. Financial services is a prime example.
How should financial brands react to these changes, and what are the leading businesses in the sector doing to get ahead?
Read this free report to discover:
- The current challenges and opportunities within the financial sector with regard to social media
- Five specific, practical ways financial brands can get ahead and advance their social media listening activities, with examples
More info available here: http://bit.ly/OYiNdW
201407 Global Insights and Actions for Banks in the Digital Age - Eyes Wide ShutFrancisco Calzado
According to a survey of 157 senior banking IT executives from around the world, digital channels are expected to continue growing in importance over the next few years. While branches will still be used, respondents anticipated a 25% decline in branch customers by 2016. Mobile banking is expected to see the largest growth of any channel at 64% over the same period. The survey found that banks have made progress in integrating digital channels but still have work to do - 43% had integrated online and mobile, while only 19% had fully integrated online, mobile, and social media. When asked about barriers to achieving digital objectives, executives most commonly cited legacy core banking systems and regulatory challenges. Improving the customer experience was the second most important factor cited for driving
A new Accenture report identifies four key areas of focus for wealth and asset management firms to employ that are vital to attracting, engaging and retaining Generation D investors:
• Customer analytics.
• Self-directed tools.
• Community connections.
• Gamification.
P2P lending –a “financial intermediary in social democracy” – indian scenarioPrashanth Ravada
This document discusses the emergence of peer-to-peer (P2P) lending as a new financial intermediary model in India. P2P lending platforms allow individuals and businesses to access loans at lower interest rates compared to traditional lenders. The model provides a new investment opportunity for retail investors. The document notes that India's rural and semi-urban areas are underserved by traditional banks and have high reliance on informal lending. P2P platforms could help expand access to credit for small businesses and individuals in these areas by using an online platform to efficiently connect lenders and borrowers. The document examines the role and process of P2P lending in India and how it might contribute to financial inclusion.
The document discusses the instant cash and online lending market in India. It notes that the total market size is $141 billion and growing at 5.1% annually. It analyzes the strengths, weaknesses, opportunities, and threats for online lending platforms. Their strengths include providing fast access to cash without collateral, but weaknesses include many borrowers getting trapped in long-term cycles of debt. The document also outlines marketing strategies like content marketing, email marketing, and using a media mix of paid, earned, and owned channels to acquire and retain customers.
Mercer Capital's Bank Watch | April 2017 | Is FinTech a Threat or Opportunity?Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Whitepaper_E_Customer centricity the survival strategy for Japanese lendersArup Das
1. The Japanese consumer lending industry has traditionally been dominated by banks lending to large firms, leaving the consumer and small business segments underserved. Non-bank institutions grew rapidly from 1994-2003 by serving these segments but then faced regulatory crackdowns.
2. Now with low interest rates and high competition, Japanese lenders must differentiate themselves through customer centricity. The whitepaper discusses how improving the customer experience during loan origination, such as through faster approvals and online self-service, can help lenders gain an advantage.
3. Key aspects of a customer centric origination process include product innovation, convenience, relevance, quick approvals, self-service capabilities, and an omni-channel experience. Technology
Digital Marketing in Banking: Evolution and RevolutionCognizant
Proving the effectiveness of bank marketing strategies beyond brand-building has always been a challenge. Now, several converging forces may help propel marketing forward as a revenue source rather than a cost center.
Trust Transaction - How Content Can Transform the Way Banks Connect With PeopleEvgeny Tsarkov
Trust Transaction - How Content Can Transform the Way Banks Connect With People (by NewsCred)
Доверенные транзакции - как контент может изменить способ взаимодействия банков и пользователей
How to do LendingClub's SWOT Analysis in just 2 minutes? Strengths, Weaknesse...SWOT & PESTLE.com
Check out our latest publication on LendingClub, which is an American peer-to-peer lending company. It has it's headquarteres in San Francisco, California.
Check out the SWOT and PESTLE analysis on LendingClub- https://www.swotandpestle.com/lending-club/
The analysis covers the business strategy of LendingClub.
We appreciate Akshay Mohan's contribution towards this research report.
Follow us @swotandpestle to know more and visit our website - https://www.swotandpestle.com/
NEED HELP WITH YOUR RESEARCH?
Apart from SWOT and PESTLE analysis we also do Value chain analysis, Porter's five forces, BCG Analysis, Segment-Target and Positioning Analysis and other models and analyses to suit customised needs. Place your inquiry here
https://www.swotandpestle.com/solutions/
#LendingClub #SWOTAnalysisLendingClub #PESTLEAnalysisLendingClub #MarketResearchLendingClub #CustomisedResearchLendingClub #StrategyLendingClub #BusinessCasestudyLendingClub #BusinessStrategyLendingClub
#SWOTandPESTLELendingClub #SWOT #PESTLE #ConsultingLendingClub
Banks are facing disruption from new digital entrants and changing customer behaviors. A survey of 4,000 banking customers found that over a quarter would consider a branchless digital bank, and nearly half would bank with non-financial companies they do business with like Amazon or Apple. Younger customers especially want banking services that are seamlessly integrated across digital and in-person channels, and expect their bank to proactively recommend products and help manage their finances. To respond, banks need to become truly omnichannel, extend their ecosystem of services, and offer digital personalized financial advice to stay relevant and build loyalty among changing customer demands.
Social Media Imperatives for Retail BanksCognizant
Social networking tools can help banks boost their retail operations and rebuild customer trust, but only if the strategy addresses risks, is aligned with business objectives and is backed by top leadership.
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
This document discusses the disruption of traditional financial services by new technologies and business models. Key points:
- Consumer expectations and behaviors are changing, driven by new offerings from financial technology (Fintech) startups. Younger consumers especially expect more digital and personalized services.
- Most components of traditional banking value propositions are being disrupted, including payments, lending, wealth management, and core banking services. Niche Fintech players are targeting these areas.
- Banks are responding by incubating new business models, partnering with Fintech firms, and integrating new technologies into their own offerings like mobile payments. However, some see technology reducing banks' role to "dumb pipes."
- Large
Can big data reinvent the credit score?Aneel Mitra
This document discusses how new entrants in small business lending are using innovative predictive models and alternative data sources like cash flows, direct deposits, and social media to more accurately assess credit risk for small businesses. These models go beyond traditional reliance on personal credit scores by incorporating additional business-specific metrics. While still early, these new approaches show promise in expanding access to credit. Large banks are taking note and beginning to incorporate similar alternative data and modeling techniques. If successful, these changes could significantly improve small business lending.
Specialty lending has grown significantly due to new regulations tightening bank lending standards. This has led banks to pull back from high-risk lending, driving clients to digital alternative lenders. These lenders utilize technology like big data and automation to efficiently match borrowers and lenders. Though still small compared to traditional banks, the specialty lending market has grown exponentially and has considerable room for further expansion, representing an opportunity for investors.
Technology-driven change has become a constant for merchants,
financial institutions, and processors. That reality has created a shifting
landscape of new capabilities, new competitors, new rules, and new
customer expectations. It can all be complicated and confusing, but an
assessment of that landscape indicates several clear trends affecting
the industry. For more info: www.nafcu.org/vantiv
IFRS 3 provides guidance on accounting for business combinations and acquired intangible assets such as goodwill and brands. Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired and is not amortized but tested annually for impairment. Identifiable intangible assets acquired in a business combination like brands, patents, and copyrights are recognized separately from goodwill and recorded at fair value. The valuation and treatment of brands, both acquired and self-generated, presents challenges for consistent application of IFRS 3.
Third Party Due Diligence - Know Your Third Party - EY IndiaErnst & Young
This document discusses key components of an effective third-party due diligence program to manage compliance risks. It recommends taking a risk-based approach, with varying levels (I, II, III) of investigation based on perceived risk. Level I involves open-source checks, Level II adds localized records searches and reference calls, and Level III includes on-site inspections. An effective program incorporates consistency, management oversight, objectivity, and reasonableness. Management should establish standards, provide oversight, and take appropriate actions. Due diligence procedures should be documented, centralized, and follow predictable rules to reduce ambiguity and demonstrate a fact-based, defensible process.
Financial Due Diligence - Real Estate Marketmadisoncres
1) Real Diligence provides commercial real estate financial due diligence services including lease abstracting, CAM reconciliation, tenant estoppel preparation, and portfolio management.
2) Financial due diligence is valuable at various stages of an acquisition to verify rental income, CAM expenses, operating expenses, and ensure tenants are paying correct amounts.
3) Post-acquisition, Real Diligence can compile rent rolls, prepare CAM reconciliations, provide comprehensive lease abstracts and ensure proper lease administration software is in place.
Ernst & Young - Private Equity primed for new opportunitiesCAR FOR YOU
The survey found that private equity CFOs have expertly navigated regulatory challenges and are focused on operational efficiencies. Nearly half of CFOs see increasing regulation and compliance as their top concern over the next two years due to the drain on resources. Most anticipate regulatory changes will increase costs, and about 40% feel regulations may inhibit cost control and infrastructure improvements. However, CFOs have generally dealt confidently with regulatory burdens like FATCA and AIFMD and do not expect them to reduce fundraising efforts. CFOs are also enhancing valuation processes and increasing involvement in preparing valuations to address regulator and investor demands.
EY is a global professional services firm that provides advisory, assurance, tax, and transaction services. The document discusses EY's vision of building a better working world by helping clients, communities, and capital markets. It outlines EY's global organization and various lines of business including advisory, assurance, tax, and transaction advisory services. Advisory services help clients improve performance in areas like strategy, finance, customers, and supply chain. Assurance services provide confidence in financial statements and business processes.
The revolution that business is undergoing at the hands of social media continues to dominate discussion in the financial services world.
While virtually all organizations are adapting in some manner to the new possibilities and challenges presented by social business, some industries face specific hurdles when looking to do so. Financial services is a prime example.
How should financial brands react to these changes, and what are the leading businesses in the sector doing to get ahead?
Read this free report to discover:
- The current challenges and opportunities within the financial sector with regard to social media
- Five specific, practical ways financial brands can get ahead and advance their social media listening activities, with examples
More info available here: http://bit.ly/OYiNdW
201407 Global Insights and Actions for Banks in the Digital Age - Eyes Wide ShutFrancisco Calzado
According to a survey of 157 senior banking IT executives from around the world, digital channels are expected to continue growing in importance over the next few years. While branches will still be used, respondents anticipated a 25% decline in branch customers by 2016. Mobile banking is expected to see the largest growth of any channel at 64% over the same period. The survey found that banks have made progress in integrating digital channels but still have work to do - 43% had integrated online and mobile, while only 19% had fully integrated online, mobile, and social media. When asked about barriers to achieving digital objectives, executives most commonly cited legacy core banking systems and regulatory challenges. Improving the customer experience was the second most important factor cited for driving
A new Accenture report identifies four key areas of focus for wealth and asset management firms to employ that are vital to attracting, engaging and retaining Generation D investors:
• Customer analytics.
• Self-directed tools.
• Community connections.
• Gamification.
P2P lending –a “financial intermediary in social democracy” – indian scenarioPrashanth Ravada
This document discusses the emergence of peer-to-peer (P2P) lending as a new financial intermediary model in India. P2P lending platforms allow individuals and businesses to access loans at lower interest rates compared to traditional lenders. The model provides a new investment opportunity for retail investors. The document notes that India's rural and semi-urban areas are underserved by traditional banks and have high reliance on informal lending. P2P platforms could help expand access to credit for small businesses and individuals in these areas by using an online platform to efficiently connect lenders and borrowers. The document examines the role and process of P2P lending in India and how it might contribute to financial inclusion.
The document discusses the instant cash and online lending market in India. It notes that the total market size is $141 billion and growing at 5.1% annually. It analyzes the strengths, weaknesses, opportunities, and threats for online lending platforms. Their strengths include providing fast access to cash without collateral, but weaknesses include many borrowers getting trapped in long-term cycles of debt. The document also outlines marketing strategies like content marketing, email marketing, and using a media mix of paid, earned, and owned channels to acquire and retain customers.
Mercer Capital's Bank Watch | April 2017 | Is FinTech a Threat or Opportunity?Mercer Capital
Brought to you by the Financial Institutions Team of Mercer Capital, this monthly newsletter is focused on bank activity in five U.S. regions. Bank Watch highlights various banking metrics, including public market indicators, M&A market indicators, and key indices of the top financial institutions, providing insight into financial institution valuation issues.
Whitepaper_E_Customer centricity the survival strategy for Japanese lendersArup Das
1. The Japanese consumer lending industry has traditionally been dominated by banks lending to large firms, leaving the consumer and small business segments underserved. Non-bank institutions grew rapidly from 1994-2003 by serving these segments but then faced regulatory crackdowns.
2. Now with low interest rates and high competition, Japanese lenders must differentiate themselves through customer centricity. The whitepaper discusses how improving the customer experience during loan origination, such as through faster approvals and online self-service, can help lenders gain an advantage.
3. Key aspects of a customer centric origination process include product innovation, convenience, relevance, quick approvals, self-service capabilities, and an omni-channel experience. Technology
Digital Marketing in Banking: Evolution and RevolutionCognizant
Proving the effectiveness of bank marketing strategies beyond brand-building has always been a challenge. Now, several converging forces may help propel marketing forward as a revenue source rather than a cost center.
Trust Transaction - How Content Can Transform the Way Banks Connect With PeopleEvgeny Tsarkov
Trust Transaction - How Content Can Transform the Way Banks Connect With People (by NewsCred)
Доверенные транзакции - как контент может изменить способ взаимодействия банков и пользователей
How to do LendingClub's SWOT Analysis in just 2 minutes? Strengths, Weaknesse...SWOT & PESTLE.com
Check out our latest publication on LendingClub, which is an American peer-to-peer lending company. It has it's headquarteres in San Francisco, California.
Check out the SWOT and PESTLE analysis on LendingClub- https://www.swotandpestle.com/lending-club/
The analysis covers the business strategy of LendingClub.
We appreciate Akshay Mohan's contribution towards this research report.
Follow us @swotandpestle to know more and visit our website - https://www.swotandpestle.com/
NEED HELP WITH YOUR RESEARCH?
Apart from SWOT and PESTLE analysis we also do Value chain analysis, Porter's five forces, BCG Analysis, Segment-Target and Positioning Analysis and other models and analyses to suit customised needs. Place your inquiry here
https://www.swotandpestle.com/solutions/
#LendingClub #SWOTAnalysisLendingClub #PESTLEAnalysisLendingClub #MarketResearchLendingClub #CustomisedResearchLendingClub #StrategyLendingClub #BusinessCasestudyLendingClub #BusinessStrategyLendingClub
#SWOTandPESTLELendingClub #SWOT #PESTLE #ConsultingLendingClub
Banks are facing disruption from new digital entrants and changing customer behaviors. A survey of 4,000 banking customers found that over a quarter would consider a branchless digital bank, and nearly half would bank with non-financial companies they do business with like Amazon or Apple. Younger customers especially want banking services that are seamlessly integrated across digital and in-person channels, and expect their bank to proactively recommend products and help manage their finances. To respond, banks need to become truly omnichannel, extend their ecosystem of services, and offer digital personalized financial advice to stay relevant and build loyalty among changing customer demands.
Social Media Imperatives for Retail BanksCognizant
Social networking tools can help banks boost their retail operations and rebuild customer trust, but only if the strategy addresses risks, is aligned with business objectives and is backed by top leadership.
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
This document discusses the disruption of traditional financial services by new technologies and business models. Key points:
- Consumer expectations and behaviors are changing, driven by new offerings from financial technology (Fintech) startups. Younger consumers especially expect more digital and personalized services.
- Most components of traditional banking value propositions are being disrupted, including payments, lending, wealth management, and core banking services. Niche Fintech players are targeting these areas.
- Banks are responding by incubating new business models, partnering with Fintech firms, and integrating new technologies into their own offerings like mobile payments. However, some see technology reducing banks' role to "dumb pipes."
- Large
Can big data reinvent the credit score?Aneel Mitra
This document discusses how new entrants in small business lending are using innovative predictive models and alternative data sources like cash flows, direct deposits, and social media to more accurately assess credit risk for small businesses. These models go beyond traditional reliance on personal credit scores by incorporating additional business-specific metrics. While still early, these new approaches show promise in expanding access to credit. Large banks are taking note and beginning to incorporate similar alternative data and modeling techniques. If successful, these changes could significantly improve small business lending.
Specialty lending has grown significantly due to new regulations tightening bank lending standards. This has led banks to pull back from high-risk lending, driving clients to digital alternative lenders. These lenders utilize technology like big data and automation to efficiently match borrowers and lenders. Though still small compared to traditional banks, the specialty lending market has grown exponentially and has considerable room for further expansion, representing an opportunity for investors.
Technology-driven change has become a constant for merchants,
financial institutions, and processors. That reality has created a shifting
landscape of new capabilities, new competitors, new rules, and new
customer expectations. It can all be complicated and confusing, but an
assessment of that landscape indicates several clear trends affecting
the industry. For more info: www.nafcu.org/vantiv
IFRS 3 provides guidance on accounting for business combinations and acquired intangible assets such as goodwill and brands. Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired and is not amortized but tested annually for impairment. Identifiable intangible assets acquired in a business combination like brands, patents, and copyrights are recognized separately from goodwill and recorded at fair value. The valuation and treatment of brands, both acquired and self-generated, presents challenges for consistent application of IFRS 3.
Third Party Due Diligence - Know Your Third Party - EY IndiaErnst & Young
This document discusses key components of an effective third-party due diligence program to manage compliance risks. It recommends taking a risk-based approach, with varying levels (I, II, III) of investigation based on perceived risk. Level I involves open-source checks, Level II adds localized records searches and reference calls, and Level III includes on-site inspections. An effective program incorporates consistency, management oversight, objectivity, and reasonableness. Management should establish standards, provide oversight, and take appropriate actions. Due diligence procedures should be documented, centralized, and follow predictable rules to reduce ambiguity and demonstrate a fact-based, defensible process.
Financial Due Diligence - Real Estate Marketmadisoncres
1) Real Diligence provides commercial real estate financial due diligence services including lease abstracting, CAM reconciliation, tenant estoppel preparation, and portfolio management.
2) Financial due diligence is valuable at various stages of an acquisition to verify rental income, CAM expenses, operating expenses, and ensure tenants are paying correct amounts.
3) Post-acquisition, Real Diligence can compile rent rolls, prepare CAM reconciliations, provide comprehensive lease abstracts and ensure proper lease administration software is in place.
Ernst & Young - Private Equity primed for new opportunitiesCAR FOR YOU
The survey found that private equity CFOs have expertly navigated regulatory challenges and are focused on operational efficiencies. Nearly half of CFOs see increasing regulation and compliance as their top concern over the next two years due to the drain on resources. Most anticipate regulatory changes will increase costs, and about 40% feel regulations may inhibit cost control and infrastructure improvements. However, CFOs have generally dealt confidently with regulatory burdens like FATCA and AIFMD and do not expect them to reduce fundraising efforts. CFOs are also enhancing valuation processes and increasing involvement in preparing valuations to address regulator and investor demands.
EY is a global professional services firm that provides advisory, assurance, tax, and transaction services. The document discusses EY's vision of building a better working world by helping clients, communities, and capital markets. It outlines EY's global organization and various lines of business including advisory, assurance, tax, and transaction advisory services. Advisory services help clients improve performance in areas like strategy, finance, customers, and supply chain. Assurance services provide confidence in financial statements and business processes.
EY Valuation & Business Modelling - Luxembourg officeeyluxembourg
The need for transparent and robust valuations to support corporate transactions and to meet regulatory requirements has increased. Justifying the value of assets and liabilities has grown more complex and is increasingly critical for businesses. Our experienced valuation professionals ask the right questions and help you find the right answers.
Due Diligence - Looking for Gold in the PaperNow Dentons
This presentation focuses on the details of the due dilligence process. It covers the definition and role of due dilligence, provides a legal due diligence checklist and gives an overview of key due dilligence points and mining considerations.
The document discusses preparing for financial due diligence when acquiring a company. It notes that due diligence is still important despite some claims that it is no longer necessary. Typical due diligence involves reviewing agreements, disclosure statements, financial statements, contracts and more. Deeper levels of due diligence are conducted for larger deals and include interviews and more in-depth documentation reviews. Due diligence can uncover issues like incomplete records, undisclosed liabilities, obsolete assets, and improper revenue recognition. The document emphasizes the importance of conducting thorough financial due diligence when acquiring a company.
The document provides guidance on conducting due diligence for the acquisition of a business. It outlines key areas to examine such as management, industry and competition, human resources, operations, legal matters, and more. The checklist suggests evaluating the target company's financials, contracts, liabilities, compliance, and positioning within its industry. The due diligence process aims to identify both strengths and risks prior to finalizing an acquisition.
The document provides templates for project status reports. The first template shows the overall project status as green and on track, with planning, scoping and analysis, and build 50% complete. Testing has started with some defects found. The second template provides a more detailed status for each phase, showing phase 4 (UAT) as amber due to a high number of defects found, with tasks to complete UAT and address defects before sign off. Phases 5 and 6 are on track.
Watch full webinar here: http://www.firmex.com/Due-Diligence-Best-Practices-and-Pitfalls-sign-up/
LOIs and NDAs signed. Now art meets science with the legal, financial and strategic review of the business. How do you test the value proposition and identify potential risks? Select the best tools to streamline the process? And prepare for regulatory and legal compliance issues arising from legislation like FCPA? Learn what it takes to avoid pitfalls that plague even the most experienced due diligence experts.
This document outlines a due diligence checklist for reviewing a company. It includes sections to review the company's corporate organization, publicly filed documents, financial statements and forecasts, taxes, audits, real property and equipment, intangible assets, products, and the overall industry. The checklist contains over 50 individual items to evaluate the company's legal, financial, operational, and competitive position.
This presentation gives an in-depth look at the comprehensive due diligence process. It covers the framework for due diligence, its purpose, and types. This presentation is incrediably valuable for anyone doing or looking to do transactional work.
Due Diligence for Merger & Acquisition, Corporate Restructuring and TakeoverPavan Kumar Vijay
This document provides an overview of due diligence for mergers and acquisitions. It discusses why due diligence is important, the objectives of due diligence, common types of due diligence including financial, legal, tax and operational due diligence. It also outlines the due diligence process, key focus areas, common issues in India and case studies. The goal of due diligence is to evaluate all material aspects of a target company to identify risks and determine an appropriate purchase price, while aiming to make deals rather than kill them.
Ersnt & Young Pharma 3.0 Business Model Zaki Sellam
Pharma companies are transforming their business models from Pharma 1.0 focused on blockbuster drugs, to Pharma 2.0 with diversified drug portfolios, and now to Pharma 3.0 centered around delivering healthy outcomes. This transformation is being driven by factors like healthcare reform, consumerism, and the need to prove value. Pharma 3.0 requires non-traditional collaborations across different industries in the healthy outcomes ecosystem, including providers, IT companies, social media platforms, and more, to achieve the goal of improving patient health.
This document discusses preparing for an initial public offering (IPO) on the public markets. It covers key decisions around strategy, structuring, timing, advisors, and financial reporting requirements. The presentation outlines the IPO process and roadmap, what investors look for in companies going public, components of strong corporate governance, and listing requirements for different exchanges. Historical financial information needs and the role of the reporting accountant in reviewing financials are explained. Current IPO market conditions and activity levels on major exchanges from 2010-2013 are also summarized.
The document provides a list of preliminary information requirements for conducting due diligence on a company. It requests information across 11 categories: [1] Overview, [2] Financial Statements, [3] Income Statement, [4] Customers, [5] Costs and Expenses, [6] Balance Sheet, [7] Cash Flow Statements, [8] Contingent Liabilities, [9] Related Parties, [10] Personnel, and [11] Taxation. The information requested includes organizational structure, financial statements, revenue and cost details, customer and supplier information, personnel details, taxation records, and other operational and legal documents.
This document provides a summary of the ice cream industry in India. It notes that the industry is growing steadily at over 15% annually and is valued at over INR 5500 Crore, with the organized sector worth INR 2500 Cr. The western and northern regions account for the largest consumption. Key players include Amul, HUL's Kwality Walls, Mother Dairy, and Baskin Robbins. Players are targeting growth through franchise models, strategic partnerships, product diversification, and increasing per capita consumption. The industry is expected to continue growing at a CAGR of 12% through 2016.
Where traditional and tech meet: How banks and marketplace lenders can partne...mackenziesullivan2
What is it that would cause today’s consumers to turn to a new company for their borrowing needs? Why are technology startups taking on some of the largest and most established financial institutions in the world for the job of allocating capital? These questions speak to the changing cultural and technological landscape that is starting to impact the financial services industry – from the smallest players to the largest banks.
Not long ago, the question was – what would the traditional lenders’ response be to all of this? Would they compete or collaborate? Today we see institutions taking both routes, with an increasing number of established lenders choosing to collaborate with new marketplace lending entrants. This collaboration began in the form of loan funding agreements, where a bank funds the loans originated by a platform and then sells the loans back to the platform, along with agreements for banks to invest in marketplace loans, purchasing loans that fit their credit profile. Today the question becomes: which banks will be the first to truly capitalize on the deeper opportunities that these partnerships have the ability to open up?
Marketplace lenders are often seen as disrupters competing against traditional banks. Several of them focus on innovative technology and rapid service and are attracting a whole new segment of consumers who are not necessarily the core strength of traditional lenders. Yet the more traditional banks have lower cost of funds, a long history of consumer lending and credit modeling, significant investments in customer relationships and branch networks, well known brands, and access to decades of customer data.
These complementary attributes open up the opportunity for true strategic partnerships between traditional and marketplace lenders. Some believe that Lending as a Service (LaaS) will be the model of the future, utilizing the most efficient parts of each company’s operations or technology platform to create superior loan products that offer the best prices and service to customers. As banks progress beyond simply investing in marketplace loans, these partnerships will take many forms, from basic referral programs to white labeling
and joint product development. Each type
of partnership has the opportunity for significant revenue benefits to each side (and their customers!) and requires a differing level of integration and investment.
Peer-to-peer lending platforms are transforming the consumer lending industry by connecting borrowers directly with investors. These platforms issued $5.5 billion in loans in 2014 and are projected to grow substantially. Peer-to-peer lending offers borrowers simplified and quicker online application processes. Traditional financial institutions can either collaborate with peer-to-peer lenders by purchasing loans or forming alliances, or compete directly with peer-to-peer platforms. Both options present opportunities but also risks such as increased competition and regulatory scrutiny that institutions must consider strategically.
The convergence of non-traditional rivals and heightened global regulation are creating new digital opportunities for banks. To seize the high ground, banks need to think like disruptors and apply modern digital tools, techniques and partnership strategies.
Peer-to-peer (P2P) lending allows individuals to borrow and lend money without traditional banking intermediaries. P2P lending platforms like Zopa and Prosper have pioneered this model online by connecting borrowers directly with individual lenders. The Middle East is a promising market for P2P lending due to rapid credit growth, high bank interest rates, and lack of consumer regulation and alternatives. However, P2P lenders must address risks like collections, credit losses, fraud, and regulatory compliance to succeed in the region.
This document summarizes the growth of online lending platforms and their impact on traditional banks. It discusses how online lenders have more efficiently served small businesses and consumers through streamlined online application processes. It also describes how some online lenders have partnered with large banks, such as OnDeck partnering with JP Morgan. This allows banks to utilize the online lenders' platforms and underwriting technologies to offer loans at lower costs than traditional in-person lending processes while keeping the loans on the banks' balance sheets. The partnership helps online lenders expand their reach while improving their resilience through the stability of banks' funding sources.
1) Technology and financial technology (FinTech) startups are disrupting the traditional banking industry by offering new financial products and services. FinTech startups are using technologies like big data, social media data, and machine learning to automate processes and lower costs compared to traditional banks.
2) FinTech startups are creating value by solving problems like asymmetric information between lenders and borrowers. They increase transparency and empower customers to make better financial decisions. However, traditional banks still have advantages from long-standing customer relationships and more comprehensive data.
3) For traditional banks, the best strategic responses depend on whether the FinTech innovations are substituting or complementing existing bank products and services. If substitution dominates
Digitizing Automotive Financing: The Road AheadCognizant
The evolution of digital technologies is enabling automotive financing companies to connect and interact with their customers, allowing auto lenders to take advantage of a new "e-mechanism" for engaging consumers amid digital mind and market shifts.
Peer-to-peer (P2P) lending involves individuals borrowing and lending money to each other without a traditional financial institution. It removes middlemen but involves more time, effort, and risk. The advantages are higher interest rates for lenders and access to financing for borrowers who may be rejected by banks. However, there is little assurance borrowers will repay and interest rates may be higher to compensate for risk. P2P lending platforms facilitate the process but regulation is still developing in India.
banks news and trands in globalhghk.docxChetanBariya4
This document provides a summary of trends in the global banking industry. It discusses Paytm Payments Bank being instructed by RBI to halt onboarding new clients and cease additional services. It also mentions that global banks could boost valuations by $7 trillion in 5 years by promoting growth and productivity. Finally, it provides a link to a news article about Citi Commercial Bank launching a new digital client platform.
As many regional banks consolidated or went
out of business during the recession, credit
unions stepped in to take advantage of the void
left by these lenders, particularly in auto lending.
In the last five years alone, credit unions have
maximized their indirect lending efforts
significantly, making them a growing force in
auto lending that is taking away market share
from banks. While credit unions' $1 trillion in total
assets seem paltry compared to the $16 trillion
amassed by banks in the U.S., these smaller,
community-based financial institutions have
begun to outpace their banking rivals when it
comes to auto lending.
P2P Lending Business Research by Artivatic.aiArtivatic.ai
Financial Lending or P2P Lending is going to play important role in the economy of entire world including India. Artivatic conducted Lending (P2P) research to understand the sector specific problems, growth and opportunities and also the use of technologies.
#lending #p2p #fintech #banking #insurance #payments #accounts #bfsi #deeptech #artivatic #startups #technology
Get Finance Smart - Learning from Fintech, Learning from Banksemmersons1
When competition increases in an industry, it often leads to change. This week, we explore this process in banking, an industry where both the incumbent banks and the new players are learning from each other.
Can big data reinvent the credit score?Aneel Mitra
This document discusses the use of big data and predictive modeling to improve small business lending. Currently, community banks rely on personal relationships to assess small business loan applications, while larger banks rely more on credit scores. New fintech lenders are using alternative data sources and predictive algorithms to more accurately assess creditworthiness, including cash flows, direct deposits, and data from QuickBooks. While social media data raises some reliability concerns, blended models using business-specific metrics in addition to personal credit scores have become an industry standard. As large banks and credit card companies obtain more of this alternative data, they are beginning to incorporate it into their own predictive models, which may change the small business lending landscape. Overall, the use of innovative predictive approaches
Can big data reinvent the credit score?Aneel Mitra
This document discusses the use of data and predictive modeling to improve small business lending. Currently, community banks rely on personal relationships to assess loan applications, while larger banks rely more on credit scores, which are limited. New fintech lenders are using alternative data sources like cash flows, business financials from QuickBooks, and social media to build more accurate predictive models of creditworthiness. These new models show promise but also risks, and blended models using multiple data sources remain standard. As large banks also gain access to more robust data sources, predictive modeling could transform small business lending by better assessing risk.
Peer-to-peer (P2P) lending allows individuals to borrow and lend money without an intermediary financial institution. It removes middlemen but involves more time, effort, and risk than traditional lending. Borrowers benefit from lower interest rates than banks, while lenders earn returns higher than traditional investments. P2P platforms generate revenue through transaction, servicing, and management fees charged to borrowers and lenders. However, the lack of regulations and clarity in India has hindered the growth of P2P lending compared to other parts of the world.
Etude PwC : "Digital Banking Survey" (2014)PwC France
http://pwc.to/1jQNy0n
Le secteur bancaire ne doit cesser d'innover pour continuer de satisfaire les besoins de leurs clients au temps de la digitalisation. Retrouvez toutes les conclusions PwC sur ce sujet.
Eyes wide shut: Global insights and actions for banks in the digital ageIgnasi Martín Morales
We know what banks want to achieve.
We know how they can achieve it. What we
want to explore further is how close banks
are to achieving their digital goals, both
now and over the next few years. So we
asked 157 senior IT executives, CIOs, CTOs
and other heads of technology spanning
14 primary markets for their thoughts on
digital banking’s potential for today – and
tomorrow. This paper presents the findings
of our study and examines the implications
of our findings for banking technology
executives.
_Learning From Overseas Fintech Mistakes -Bahaa Abdul Hussein.pdfBahaa Abdul Hussein
Fintech has disrupted the financial service sectors in many countries in a good way. It provides several advantages to both consumers and businesses. Fintech makes it easy to pay bills and transfer money to bank accounts. Besides this, it helps people living in rural areas with the option of performing financial transactions and services that were very difficult to do in the past. These are just a few Fintech advantages, the list is endless.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
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How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
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Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
4 Benefits of Partnering with an OnlyFans Agency for Content Creators.pdfonlyfansmanagedau
In the competitive world of content creation, standing out and maximising revenue on platforms like OnlyFans can be challenging. This is where partnering with an OnlyFans agency can make a significant difference. Here are five key benefits for content creators considering this option:
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
2. PwC 1
Where traditional and tech meet
What is it that would cause today’s consumers to turn to a new company for their borrowing needs? Why are
technology startups taking on some of the largest and most established financial institutions in the world for the job
of allocating capital? These questions speak to the changing cultural and technological landscape that is starting to
impact the financial services industry – from the smallest players to the largest banks.
Not long ago, the question was – what would the traditional lenders’ response be to all of this? Would they compete
or collaborate? Today we see institutions taking both routes, with an increasing number of established lenders
choosing to collaborate with new marketplace lending entrants. This collaboration began in the form of loan
funding agreements, where a bank funds the loans originated by a platform and then sells the loans back to the
platform, along with agreements for banks to invest in marketplace loans, purchasing loans that fit their credit
profile. Today the question becomes: which banks will be the first to truly capitalize on the deeper opportunities
that these partnerships have the ability to open up?
Marketplace lenders are often seen as disrupters competing against traditional banks. Several of them focus on
innovative technology and rapid service and are attracting a whole new segment of consumers who are not
necessarily the core strength of traditional lenders. Yet the more traditional banks have lower cost of funds, a long
history of consumer lending and credit modeling, significant investments in customer relationships and branch
networks, well known brands, and access to decades of customer data.
These complementary attributes open up the
opportunity for true strategic partnerships
between traditional and marketplace
lenders. Some believe that Lending as a
Service (LaaS)1 will be the model of the
future, utilizing the most efficient parts of
each company’s operations or technology
platform to create superior loan products
that offer the best prices and service to
customers. As banks progress beyond simply
investing in marketplace loans, these
partnerships will take many forms, from
basic referral programs to white labeling
and joint product development. Each type
of partnership has the opportunity for
significant revenue benefits to each side
(and their customers!) and requires a
differing level of integration and investment.
1 Rotman, Frank. “The Hourglass Effect, A Decade of Displacement”
Lending as a Service (LaaS) is a
derivation of the commonly used
term ‘X as a Service (XaaS). It is
often used to describe services
delivered over the internet, as
components, and sold as a service
rather than a product. It often
involves integrating different
pieces of a system or process
from providers who specialize in a
particular area. Lending as a
Service involves utilizing
technology or other service
providers to supply a particular
component of the overall
lending process.
3. PwC 2
While the potential benefits are clear – higher returns, access to new customers, and fulfillment of obligations such
as CRA (Community Reinvestment Act), there are a few reasons why some banks have not yet pursued partnerships
with marketplace lenders yet. These include limited risk appetite, potential cannibalization of their own business,
and perceived potential reputational risks. Whichever type of partnership is pursued, there will a need for an
additional due diligence and scrutiny than is typically expected from pure investor partners. Banks have certain
regulations to comply with which marketplace lenders are not directly subject to, and banks will need insight into
the complexities and workings of marketplace lenders. Choosing the right partner to fit a bank’s strategic needs and
establishing a comprehensive framework to manage the relationship are critical to achieving synergy and success.
Below are a few examples of recent partnerships between marketplace and traditional lenders.
Recent Examples of Partnering Up
In May 2013, the US unit of a large European bank
became the first high street bank to see one of the major
MPL platforms as an opportunity and entered into a
receivables purchase agreement that allowed them to
purchase up to 25% of their originations for the next
three years.
Allowed to
purchase up to
25%
Community Banks found marketplace lending platforms to be their
friend as they look for new sources of growth amid tight margins on
lending. By partnering with platforms, community banks benefited
from their low operational cost which gave them the ability to
facilitate small consumer loans that they could not profitably
originate and service on their own.
A Silicon Valley startup platform, valued at $1.7 billion, is drawing
more than just venture capitalists and private equity but also
strategic bank investors as they raised $165 million in new
financing in April 2015. Investors included top 5 US and
European banks.
A large European bank recognized that partnering
with one of the largest US platforms was an innovative step
forward in finance and actually allows some of their clients to
buy parts of loans originated on the marketplace platform.
In April 2015 one of the largest US banks announced a partnership
with an MPL (Marketplace Lending) platform to originate loans specifically
designed to meet the bank’s CRA goals.
4. PwC 3
Partnering to lend – Capitalizing on strengths
Most marketplace lending partnerships will begin with a financial firm or bank purchasing loans from a
marketplace lending platform based on established criteria that match the bank’s risk and return objectives with
profiles and volumes that the platform is able to produce. As the partnership matures, the partners become more
comfortable and familiar with each other and more strategic opportunities are identified, leading to additional
depth and integration. Lending as a Service (see figure 1) may be the model of the future, wherein banks and
platforms would each identify their core competencies and areas of opportunity and determine the best mix of
services that each can provide. For example, they could work together on attracting new customers: the
marketplace lender can be responsible for the application, underwriting, closing, and credit modeling process,
while the traditional lender might use their scale and expertise to handle servicing and collections functions as well
as the identification of opportunities to cross-sell products and services and provide financial advice to the
customers.
Figure 1
Customer Acquisition
Application,
Underwriting, Closing
Credit modeling process
Servicing and collections
5. PwC 4
Referral programs
A form of partnership beyond buying loans is a referral program wherein banks and marketplace lenders refer
prospective borrowers to each other. When a potential customer applies for a loan but does not fit the credit profile
or other specifications of one lender, they can be referred to the other. This may involve an initial decline, with the
lead then being passed to the other lender, or the borrower being presented contact information for the alternate
lender. Ideally though, this would be a seamless transition wherein the borrower would be redirected within the
online application to a co-branded partner website that presents the borrower with their loan options and next
steps. Consideration should be given to borrower experience and messaging, alignment of the speed of funding and
other parameters with regards to the original loan, and to privacy and data sharing requirements. Such referral
programs can create fee revenue, but also allow banks and lenders to provide a more full-service offering to meet
their customers’ needs.
Imagine, Jacob has been operating a wildly popular
food truck for the past year and is looking for a $25k
loan to purchase another truck to expand his business.
He walks into the local branch of the bank where he
has his checking account and mortgage loan to discuss
his options. Banker Mary tells him that while they only
make loans to businesses with at least two years of
operating history, their lending partner has some
great business and personal loan products. She shares
the details of the partner programs, along with some
promotional materials. When Jacob finishes asking
questions and says that the partner’s loans sound like
they will meet his needs, Mary hands him a tablet and
brings up the loan application screen. Jacob spends
about 15 minutes at the branch inputting relevant
information, with Mary helping to answer questions
along the way. The bank receives a referral fee from
the platform, along with the benefit of having helped
one of their loyal customers meet his financial needs.
Through his various interactions with Mary, Jacob
realizes that he could significantly lower his credit
card processing costs by moving over to the bank, and
eventually also moves his investment accounts.
Customer Acquisition
6. PwC 5
White labeling
White labeling is a deeper form of partnership in which
the platform is providing technology to act as a virtual
extension of the bank. White label partnerships may be
effective when a bank has little to no current presence
in a lending asset class, or when an institution doesn’t
have the budget to start up a new business line that
would require significant investment in technology and
operations.
White label partnerships could be developed to handle
the loan process from beginning to end, including
customer acquisition, processing, and servicing
functions, or might only involve a technology layer to
support a bank’s own marketing and processes.
From a customer experience perspective, that platform
is the bank. Because of that, there are significant
implications in terms of service quality, branding
cohesiveness, and compliance considerations. Yet, from
an operational perspective, the two entities still operate
separately and must skillfully navigate complex
workflows which touch both parties.
Imagine, Jane is about to start her first job and is moving
across the country for it, but she needs some extra cash to
pay for moving expenses – quickly. She knows just where to
look – Jane logs on to her bank’s website, goes through a
loan application and within a few minutes, she is approved.
The process is easy to understand and she can chat with a
customer service agent with the click of a button.
After logging in to her bank, she was actually redirected to
a bank branded version of platform X’s website. Platform X
provides all the technology for the Bank to support this
customer friendly lending process in a seamless way.
The Bank has found a partner with the platform they need
and only pays a fee-per-loan, minimizing their up-front
investment.
Application,
Underwriting, Closing
7. PwC 6
Joint product development
Joint product development between banks and marketplace lending platforms could take many forms, depending
on the needs and strengths of each partner. It might involve developing credit products that a marketplace lender
might not typically offer, but that meet the specific needs of a bank. One current example of this is a platform that
has an agreement with a large national bank to originate and sell to the bank loans that fulfill required CRA goals.
Collaborating on joint development of new credit models is another possibility for partnerships – where banks and
marketplace lenders could use their diverse assets of alternative data, bank proprietary data, along with traditional
credit bureau data to develop advanced credit models.
Imagine, Regional Bank has a long history of always being
there to meet their customers’ financial needs. They offer a
wide variety of products and have collected extensive
financial and transactional data on their customers over
decades of relationships. Yet they are finding that some of
their younger customers don’t use many banking products
and don’t have very long credit histories. Regional Bank
wants to ensure that they can continue to meet these
customers’ borrowing needs, but feels they don’t have all the
data to make informed, risk-based decisions.
Regional Bank decides to partner up with Platform Y to
create a credit scoring model that combines the depth of data
from Regional Bank’s years of customer relationships with
social and other non-traditional data that Platform Y has
developed expertise and a track record in utilizing in order to
make effective credit decisions. Both companies are able to
leverage each other’s strengths and assets to advance their
own business needs.
Credit modeling
process
Servicing and collections
8. PwC 7
Identifying a Strategic Partner
Partnerships to provide capital or purchase loans
require banks to have a good understanding of
marketplace lenders’ credit standards, underwriting
processes, and compliance and quality controls. Yet
strategic partnerships require even more up-front
investment, have a longer time horizon, and have a
lasting impact on overall product, customer, and
revenue potential for both partners.
There are a variety of reasons why a bank or traditional
lender may want to partner with one of the marketplace
lending platforms, and based on those goals they may
look for partners where there is already an alignment,
or conversely, they may look for a partner with
complementary features.
By identifying the categories to consider, lenders can
effectively outline their goals for a strategic partnership
and begin identifying possible partner companies.
Once goals for the partnership have been clearly
established and possible target companies have been
identified, it is time to take a closer look at the target
companies to assess internal factors which could point
towards a good match. These factors include
compliance rigor, operational efficiency, risk
management discipline, culture, credit risk appetite,
and reputation, just to name a few. Banks must
carefully vet any third party for compliance with all
applicable laws and regulations, overall customer
service, and operating model and rigor around risk
discipline. Each entity must also be mindful of the
proper transfer and safeguard of customer data,
particularly in light of the increase in cyber attacks. By
ensuring that the marketplace lending partner has the
appropriate processes and controls in place, banks can
gain comfort that the partnership will provide long term
accretive benefits.
Considerations such as operational efficiency and
technology scalability will be indicators of a platform’s
ability to grow and succeed beyond the startup stage.
With the high-volume, smaller dollar nature of many
marketplace loans, manual tasks and operational
inefficiencies will be magnified as platforms begin to
grow. Any technology deployed must be able to quickly
scale to handle large volumes, and operations should be
streamlined and automated as much as possible.
9. PwC 8
Evaluating potential partners
The framework below provides a guide to banks and
other financial firms to help assess potential
marketplace lending partners. It also provides a guide
to marketplace lending platforms who are looking
toward strategic relationships with a bank to prepare
for due diligence.
The due diligence of platform partners should be
holistic and detailed and include such elements as
company history, operational competency, technology,
financial stability, credit risk management, enterprise
risk management capabilities, compliance management
program, quality control program, and servicing and
collection practices. These elements should be
thoroughly assessed and evaluated, may be performed
by a third party, and likely will involve a series of data
analysis, documentation review, and on-site meetings
with management to delve into areas of question or
concern.
With respect to bank-marketplace lender partnerships,
regulatory compliance is an area of specific focus. An
effective Compliance Management System (CMS)
establishes the framework for identifying, assessing,
controlling, monitoring and reporting compliance risks
across the platform, and will give a bank partner
confidence in the the platform’s ability to manage key
compliance risks.
Key CMS elements include:
Key
elements
Board & Senior
Management
Oversight
Responsibilities
Standardized
Policies &
Procedures
Training
Monitoring
& Corrective
Action
Consumer
Complaints
Data Mining
and Management
Independent
Compliance
Testing
Third Party
Oversight
Privacy and
cyber security
elements
10. PwC 9
An effective compliance management system is the
foundation for any organization to succeed at risk
management, however there are number of additional
considerations specific to partnerships between banks
and marketplace lenders.
Initial partnership due diligence should also include
financial due diligence, including a requirement for
audited financial statements which demonstrate
financial stability and ability to meet obligations and
continue growth. Additionally, banks may require a
detailed understanding of the credit policy,
underwriting process, fraud prevention mechanisms,
and the credit model being used, including actual loan
performance history and stress testing under various
economic scenarios.
Platforms should be prepared to provide their potential
bank partners with access to transparent and detailed
reporting and data feeds that allow insight into portfolio
performance, referral performance, or other data
related to the subject of the partnership. Regardless of
whether the data is provided directly or through an
intermediary, the platform and bank should have
technology in place which allows them to efficiently
communicate and receive information, in order to
maximize customer service, sales opportunities, and
risk management capabilities.
This reporting and data sharing should be coupled with
ongoing performance and risk monitoring to maintain
regulatory compliance and ensure that the expected
return in investment is being realized. This may include
tracking agreed-upon key performance and risk
indicators as well as adherence to service level
agreements.
11. PwC 10
The opportunities posed by partnerships between marketplace lenders and banks are significant, however
integrating the business relationships strategically is the key to success. With our deep banking and consumer
lending knowledge, and experience with marketplace lending activities, we can assist in preparing for such a
partnership, from conducting market assessments, to evaluating various partnership strategies, or conducting due
diligence and advising on regulatory compliance matters. Regardless of whether your organization chooses to
partner with a bank or marketplace lender, we can provide advice and support on the critical decisions and key
implementation activities that will shape your strategy and help position the partnership for success.
Due Diligence
• Strategic fit assessment
• Risk and compliance
assessment
• Bank oversight and
monitoring readiness
• Third party risk
management
• Financial and
operational assessment
Strategy
• Partnership strategy
and goals
• Market entry
strategy
• Customer
experience strategy
• Alternative data and
social media strategy
• Cross selling and
relationship
deepening
opportunities
Technology
• Requirement definition
• Process and
technology integration
• Origination and servicing
automation
• Managed testing service
PwC Offerings
Operations
• Operating model alignment
• Data structuring and transfer
between parties
• Credit Risk modeling and
underwriting validation
Regulatory
• Compliance management
system design
• Third party risk management
• Fair lending assessments
How PwC
can help