Digital Innovation Digest by Initio. Latest trends in Finance digitization.

1. DIGITAL INNOVATION DIGEST
June - 2019
#16

2. SUMMARY
[Insurance] WeProov: Digitized car inspection France
Digital
Insurance
[Green Finance] Credit Card with Carbon-emission spending limit Sweden
Consumer
attitude
[Branch network] A Bank branch… in a McDonalds Russia
New age
branch
The Digital Innovation Digest is published since 2015 by the Innovation and Digital Transformation business line of Initio.
Originally intended for internal distribution, this document is an illustrated overview of relevant and inspirational trends or innovations in Finance /
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3. 01A BANK BRANCH…
in a McDonald

4. A Bank Branch… in a McDonald
In Short
A Big Mac and a Credit Card.
Sberbank, the state-owned Russian banking and
financial services company, has signed a
partnership agreement with McDonald’s. Under
the agreement, the companies will collaborate
around different areas such as data analysis,
consumer behavior, bank card payments, and
employee payroll. In addition, Sberbank and
McDonald’s will open a pilot branch that will offers
consumers banking services and burgers.
If the customer will not come to the
branch, then the branch must go to the
customer.
Beyond the announcement effect – no one could
seriously think that opening a bank account between a
Big Mac Menu and a Sundae is a sustainable idea –
this move from Sberbank illustrate the limitless
imagination of banker when it’s about design the
future of their branch network.
Banks must meet consumers where they are.
Sometimes that’s online and sometimes that’s in a
branch where a more consultative banking experience
can occur but constrains remains: reaching new
customers, finding a solution to sell products and
services not (yet) digitized while continuing to cutting
running cost.
In this perspective: open a branch in a fast food outlet
who is attracting hundred of customers every days
could eventually sound legit.

5. A Bank Branch… in a McDonald
Analysis
Sberbank in far to be the first bank to open in store bank,
North American banks have opened dozens since last two decades: Chase Bank in Target
Superstore or Bank of Montreal branches located in Sobeys grocery stores are just an
example among others.
However, it seems that strategy his in a bad way since few years and new concepts needs
to be tested now.
In the UK, Post Office is positioning itself as a substation banking agency for several
networks, including for some Neobank like Starling and Monzo who find there an easy
solution to handle their cash management problems (customer’s deposit and withdrawal
management).
Still in UK, local regulator is pushing for the creation of multi brand branches, managed by
several competitors in order to propose basic services in remote rural areas by example.

6. 02CREDIT CARD WITH carbon-
emission spending limit.

7. Credit Card with carbon-emission spending limit.
In Short
Swedish fintech company Doconomy has launched in
association with MasterCard a credit card (the DO Card) that
tracks the carbon dioxide emissions of purchases, and caps
the climate impact of users' spending.
Transactions (purchases) are analyzed in real time and CO2
calculation is based on the Åland Index
(http://www.balticseaproject.org/en/aland-index), the carbon
footprint is globalized and when limits predefined by the user
are reach, the card may deny additional purchases.
Those who sign up to DO card will receive information about
UN-certified climate compensation projects, and discover
investment funds that have a positive impact on people and the
planet.
The card itself is made of bio-sourced material and is printed
with Air Ink – an ink made from recycled air pollution particles.
How it works
The Aland Index measures the Co2 impact of global transaction
category (groceries, restaurant, fuel etc.) and the associated
carbon compensation required to neutralize the Co2 footprint.
Carbon footprint is presented along with your monthly Credit
Card bill (or calculated in real time in the case of Docomy app)
and local, global or lifestyle call to actions are suggested to
compensate for the impact.

8. Credit Card with carbon-emission spending limit.
Analysis
After Credit Cards linked with Air Miles rewards or automatic CashBack, here are cards
backed by eco-responsible behavior.
The DO (Doconomy) initiative is fashionable at the moment and may be of interest for
companies (and consumers) willing to improved their CSR and green attitude.
Likewise we already highlighted the Fidelity Credit Card, a payment card associated with
automatic cashback feature and the possibility to automatically transform refunds into
investment, saving or eventually charity gifts (Digital Digest #14 – March 2019).
The DO card is pushing things a little further by adding “awareness” function.
It might be objected that the Co2 consumption is calculated too grossly and based only on
€ expenditures instead of taking in count the real type of goods purchased.
By example 49,02 grams of Co2 are automatically counted per euro spend in the category
“Grocery Store and Supermarket”, regardless the type of goods purchased or the type of
supermarket visited (meat or organic vegetables, local market or national distributor etc.)
But like we say in French “C’est l’intention qui compte”

9. 03Weproov
Digitized car inspection

10. WeProov: digitized car inspection
In Short
WeProov is a French insurtech who developed an app to make a certified
assessment of a vehicle or a building.
The solution is proposed as white label for easy integration in third-party
flow and the assessment is done by the user in stand alone without the
intervention of any external expert.
WeProov can be used for vehicle inspection before / after a rental or to
accompany a report of road accident. The app can also be used for building
inspection.

11. WeProov: digitized car inspection
How it work
According to the case (damage inspection, vehicle assessment, house
renting, fleet management…) a “template” is loaded in the app.
A template is a step by step guide to take specific pictures (car plate,
general view etc.) in a defined order and conditions (wide angle, close up
etc.).
Each picture is certified by a timestamp and geo-localized to prevent from
importation of backdated information.
Pictures are also encrypted and protected from any further alteration.
Final report is saved as PDF, electronically signed (RGC certificate), shared
with the insurer / car leaser etc. and stored in a blockchain.

12. WeProov: digitized car inspection
Analysis
WeProov is designed to speed up and reduce the cost of claim management process by
avoiding necessity to send damage inspector on scene.
The application is not yet able to fully automate the damage assessment process, but this
help to improve documentation quality and to reduce litigation.
With further development of artificial intelligence it will be maybe possible soon to place a
figure on damage repair and fully automatize the claim process.
In combination with automatic remote control and inspection (with support of IoT by
example) we will have finally all elements to build a satisfying user experience in case of
claim management.
Meanwhile, with the rapid development of the sharing economy (floating car rentals, P2P
rental such as AirBnB, etc.), this type of secure and remote inspection is designed to offer a
promising future, as it brings more of confidence and ease in the rental process.
In the same spirit:
• The future of claim management,
in Digital Digest #9. Q2-2018
• Ai for Claim Management,
in Digital Digest #5. Q2-2017
• WeGoLook, on demand field inspection,
in Digital Digest #4. Q1-2017

13. KEY NUMBERS
About Initio
Initio is the international brand of the Square group, an
international management consulting firm.
Brussels – Luxembourg - Paris
> 800 consultants, 95% employees
More than 200 Digital Consultants
52 % women / 48% men
Turnover 2018: >110m €
Large team in Digital Strategy & Digital Marketing
International and multi-industry experience
Business/Process analysts & Project managers with Digital
experience

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