Bank Technology, Fintech, Transformation of financial services, customer experience, digital banking, automation of retail banking transactions and services, integration of ecosystem platforms, benefits of bank technology, challenger banks, competitors

1. Title with Picture
Layout
Subtitle The Future of
Banking
by Barbara Biro
New Age Banking Summit – Muscat
2016
ADOPTION
of Technology

2. Why is it important to adopt
technology?

3. Customer behavioral paradigm
shift. IoT and Mobile is driving
the business.

4. • FINTECH startup companies in
April 2015 = 800+ registered
• FINTECH startup companies in
December 2015 = 2000+ registered
• Since 2014 these Financial –
technology companies have taken
over more than 43% of the
payments’ revenue globally.
• FINTECH recently cut more than
63% of the retail segment’s
products’ revenue globally.
• FINTECH focusing on the most
profitable products
• Quickly growing their market
share in other segments.
FINTECH IS HERE TO “EAT OUR LUNCH” –
AND THEY ARE HERE TO STAY!!!

5. It is not about that the Big is eating
the Small any more. It is about that
the Fast is Eating the Slow…

6. TIME IS UP – THE GROWTH IS DRAMATIC
• Although the global
penetration of Fintech
startup investments looks
concentrated to the US, we
must forget about
geographical matters. The
internet has no borders.
The big and powerful
disruptors are already here.

7. The organizations need to adopt the
Digital Business before they expect their
customers to do so…

8. FINTECH STRENGTH VS. BANKING WEAKNESSES –
SELF ASSESSMENT

9. Why is it important to go digital?
What is the one and above all reason of
Digital Bank Transformation?

10. • FINTECH startup companies in
April 2015 = 800+ registered
• FINTECH startup companies in
December 2015 = 2000+ registered
• Since 2014 these Financial –
technology companies have taken
over more than 43% of the
payments’ revenue globally.
• FINTECH recently cut more than
63% of the retail segment’s
products’ revenue globally.
• FINTECH focusing on the most
profitable products
• Quickly growing their market
share in other segments.
FINTECH IS HERE TO “EAT OUR LUNCH” –
AND THEY ARE HERE TO STAY!!!
Keep and
even more

11. The real disruption for banks is not that Fintech
is here, but when one of the banks will partner
with one of the Fintech companies to create a
common platform and gain significant
advantage…

12. CUSTOMER & PARTNER ECOSYSTEMS ARE MERGING
CHANGE TO CREATE A WIN-WIN ENVIRONMENT!!!
• Cloud based
interconnected data, IoT
and enabled technology
serves Fintech
• Platformification is a
solution for banks not to
loose more business
• Leverage knowledge and
features
• Gain advantage by extra
source of revenue
• Use it or loose it

13. In order to perform effective business transformation, the
organizations need to come out of their comfort zones.
We cannot stop repeating our mistakes, if everything
what we use to change, has no change at all.

14. Transformation practice of traditional banks
Silo Operation
Alternate
Distribution
Channels
•Online Channels
•Mobile Channel
•E-Commerce
•ATM Channel
Physical
Distribution
Network
•Branches & Digital
Touchpoints
•Transaction
automation of
Physical
Instruments
Direct Banking
Channel & Call
Center
•Depending on
interpersonal
communication or
automated message
Technology
•Innovations rolled
out through each
channel and
towards each
department
•Communication
only exists on the
highest levels
staff
Barbara Biro

15. Implement effective ways of project management
Agile, Scrum…anything but the silo waterfall!

16. The New ROI is Customer Adoption

17. Target
Market
Awareness
Interest
Evaluation
Trial
Adoption
Advocacy
Evolution of Customer Adoption

18. Key Indicators of Customer Adoption
Interest
• Benefits
• Clear communication of
benefits
• New E2E digital product
fulfilling digital
customer needs
• Fees
• Reward Program
• Social Media
Evaluation
• Media
• Reviews
• Social Media
• Attraction of product
benefits
• Worthiness of incentives
• Competitions
Trial
• Positive Customer
Experience
• Customer Experience
Design
• User Friendliness
• Simplicity
• Functionality
• Benefits

19. Smart Branches are Drivers of Customer Adoption

20. “ When the rate of change on the outside exceeds
the rate of change on the inside, the end is near.”
Jack Welch
Former CEO of GE

21. THANK YOU!