Tom Winstanley, Vice President of NTT DATA UK, presented on the intersection of AI and experience design in financial services. He hypothesized that digital-only financial products providing outstanding customer experiences through fully automated AI back-office systems could be the "holy grail" for fintech companies. However, participants at an NTT DATA meetup argued against this, noting that financial services are complex and challengers must have laser-focused value propositions beyond just experience and AI in order to succeed. Winstanley concluded that while experience and AI are important, the future of fintech remains unwritten.

1. Information Type :
Company Name :
Information Owner :
The Intersection of AI and
Experience Design
07 November 2019
Tom Winstanley, Vice president – NTT DATA UK
Proposal
NTT DATA UK
James Deakin
The Holy Grail of the Financial Services Industry?

2. © 2019 NTT DATA. All Rights Reserved. 2
What am I going to talk about?
Who are we?
The hypothesis
The case for
The case against
The verdict
Discussion

3. © 2019 NTT DATA. All Rights Reserved. 3
Who are we?

4. 4
Tom Winstanley
Vice president, Innovation & Advisory
NTT DATA UK
@twinstan
https://uk.nttdata.com/

5. 5
Global innovator
R&D
Consulting
Systems development
Business and IT outsourcing
Ltd

6. 6,000
R&D
Professionals
$2.1b
Annual R&D
Investment
25 global
R&D centres
-Thomson Reuters
TOP100
Global Innovators
Innovation is in our DNA
MoMA exhibition of Emoji (original set of 176). Shigetaka Kurita, NTT DOCOMO. 1998–99

7. 7
The Group is built on deep expertise and heritage in ICT R&D…

8. …but our
innovation
agenda stretches
well beyond…
8

9. 9
…and it sometimes pops up in
unexpected places…

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Industry expertise
Experience
design
Technology
innovation

15. © 2019 NTT DATA. All Rights Reserved. 15
The hypothesis…

16. THE HYPOTHESIS:
Digital only financial service
products providing genuinely
outstanding offers through a fully
automated backoffice using AI are
the holy grail of FinTech space
16

17. © 2019 NTT DATA. All Rights Reserved. 17
The case for…

18. Consumer expectations in B2C and B2B are exploding and driving
massive innovation in the design of services…
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Quality digital experience and brand
seem to be winning in the race for
customers in an Open Banking era.
Challenger banks are laser focused on
the slick branded experience and
incumbents are investing $ms into
experience transformation programmes
and service simplification

19. Applications of AI are having beginning material impact on leading
FinTech’s and traditional bank’s business
19
Source: Gartner, 2019

20. © 2019 NTT DATA. All Rights Reserved. 20
The case against…

21. There is a lot more going on in FinTech than “just” great experience..
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https://www.kitces.com/ January 2019

22. ..the analysts are bullish about a good deal more than just
experience and AI
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The complexity of the financial services
space means that challengers have to
find a laser focused value proposition
that fulfills a targeted need in order to
succeed….
That might be AI driven customer
experience… but it could be something
more radical and fundamental
Source: Gartner 2019

23. …and there might even be something more fundamental afoot
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24. © 2019 NTT DATA. All Rights Reserved. 24
The verdict?

25. Reponses by participants at NTT FinTech & AI meetup London
November 2019
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0
5
10
15
20
25
30
For the hypothesis Against the hypothesis

27. © 2019 NTT DATA. All Rights Reserved. 27
The future is
ours to make…
...with a little imagination

28. NTT DATA Open Innovation
programme in collaboration
with:
London – Level39 – 13th December
Edinburg – The Data Labs – 2nd December
https://uk.nttdata.com/openinnovationcontest
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