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Ice efest jeff tijssen - capco - final v2.0
This document discusses the future of collaboration between banks and fintech firms. It notes that banks are increasingly focused on partnering with fintech startups to gain access to new technologies and remain competitive in a rapidly changing financial industry. However, banks also face challenges in collaborating with startups due to differences in culture, legacy infrastructure constraints, and risk-averse mindsets. The document advocates that banks focus on testing, learning, and iterating quickly when innovating, and be willing to accept failure, in order to successfully partner with fintech firms and adapt to disruption.
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Ice efest jeff tijssen - capco - final v2.0
- 1. THE FUTURE OFBANK-FINTECH COLLABORATION ICEEFEST 15 JUNE 2017 @JEFFTIJSSEN
- 2. ICEEFEST “SILICON VALLEY ISCOMING” JAMIE DIMON, CEO, JPMORGAN CHASE (2015)
- 3. ICEEFEST THEY ARE MEETING THECHALLENGE HEAD ON
- 4. ICEEFEST THEY’VE GOT A LONGHISTORY OF INVESTING IN STARTUPS
- 5. ICEEFEST BUT RECENTLY THEY’VE BECOMEA LOT MORE FOCUSED ON FINTECH MORTGAGES AUTO FINANCE SMALL BUSINESS LENDING COMMUNICATIONS ONLINE BROKERAGE PAYMENTS
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- 7. ICEEFEST 3ANNUAL SWITCHING RATEFOR BANKS IN THE UK 37PEOPLE WHO HAVE BEEN WITH THEIR BANK FOR 20+ YEARS % %
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- 9. GALLUP MILLENNIAL DISRUPTION INDEX 7369MILLENNIALS WHO PREFER TO HAVE A DIGITAL RELATIONSHIP WITH A BANK MILLENNIALS WHO WOULD TRY FINANCIAL OFFERINGS FROM NON-FINANCIAL BRANDS % % ICEEFEST
- 10. ICEEFEST THE RISE OFTHE CHALLENGERS
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- 12. ICEEFEST SHOULD YOU BE CONCERNED? SOURCE:SAVEONSEND.COM
- 13. ICEEFEST 76%OF SENIOR BANKERSDON’T BELIEVE THAT DIGITALISATION WILL AFFECT THEIR BUSINESS MODEL (I KNOW… SHOCKING...) SOURCE: GARTNER
- 14. ICEEFEST IT’S ALL ABOUT COLLABORATION “ Oldfoes, new friends: Nordic banks and startups increase collaboration ComputerWeekly Collaboration Is The Way Forward For Banks And Fintech Forbes Collaboration between banks and fintechs is key to survival InformationAge HSBC partners with Tradeshift as banks increasingly see fintech as friends not foe Business Insider Banks rushing to collaborate with fintech startups Finextra SocGen extends fintech collaboration mission to Germany Finextra
- 15. ICEEFEST NEW PARTNERSHIPS ARE BEING ANNOUNCEDON A REGULAR BASIS
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- 17. ICEEFEST BANKS ARE INCREASINGLY LOOKING TOINVEST IN FINTECH STARTUPS SOURCE: CB INSIGHTS
- 18. ICEEFEST >30% CORPORATE PARTICIPATION INFINTECH DEALS IN 2016 SOURCE: CB INSIGHTS
- 19. ICEEFEST 60%OF GLOBAL BANKSARE OPEN TO PARTNERING WITH FINTECH FIRMS 25%OF GLOBAL BANKS WOULD CONSIDER A FINTECH ACQUISITION SOURCE: SAP/IDC
- 20. ICEEFEST “WE NEED TOCHANGE OUR CULTURE” “WE NEED TO LAUNCH AN INNOVATION LAB” “WE NEED TO BE MORE AGILE” “WE NEED TO PARTNER WITH STARTUPS”
- 21. ICEEFEST BANKS STARTUPS //FASTER TIME TOMARKET //SOLVE SPECIFIC INDUSTRY PROBLEMS //FOCUS ON THE CUSTOMER //AGILE WAYS OF WORKING
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- 23. ICEEFEST PR VALUE >ACTUAL RESULTS LEGACY INFRASTRUCTURE NO REAL SENSE OF URGENCY CANNIBALISE EXISTING REVENUE STREAMS
- 24. ICEEFEST LACK OF EXPERIENCEDINNOVATORS CULTURE CLASH LACK OF OWNERSHIP & SPONSORSHIP “COMPARTMENTALISED” INNOVATION
- 25. ICEEFEST RISK-AVERSE CULTURE GOVERNANCE, GOVERNANCE,GOVERNANCE THE-50-PEOPLE-WHO-SAY-NO PROBLEM FEAR TO KILL NEW IDEAS (QUICKLY)
- 26. ICEEFEST SO HOW DOYOU TACKLE THIS?
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- 30. ICEEFEST WHAT’S YOUR PURPOSE& FOCUS? CAN YOU TEST-LEARN-ITERATE-DEPLOY-KILL QUICKLY? HAVE YOU GOT YOUR BASICS RIGHT? CAN YOU HANDLE FAILURE?
- 31. ICEEFEST “INNOVATION REQUIRES A LONG-TERMWILLINGNESS TO BE MISUNDERSTOOD”
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