SlideShare a Scribd company logo
Retail banking trends 2015:
meeting outside-influencers’ needs
Alex Kwiatkowski, Senior Marketing Strategist – Banking & Digital Channels
Market context
3© Misys 2014 30 March, 2015
Prediction is very difficult,
especially if it’s about the future.
Niels Bohr
4© Misys 2014 30 March, 2015
A future defined by overcoming the industry’s biggest challenges
5© Misys 2014 30 March, 2015
Industry success based on four pillars
Customer
Experience (CX)
Performance
Management
Regulatory
Compliance
Risk
Management
Mandatory Mandatory Discretionary Discretionary
6© Misys 2014 30 March, 2015
To download this SlideShare as a PDF so you can
read offline - click here
Trends in 2015
8© Misys 2014 30 March, 2015
Meeting the demands of retail banking’s main outside-influencers
Customers
Customers’ demand:
 Improved user
experience
 Increased satisfaction
level
 Ease of access to
relevant products &
services
 Greater trust in their
chosen provider(s)
Regulators
Regulators’ demand:
 Increased visibility of
regulatory compliance
 Mandatory reports
delivered faster and with
greater accuracy
 Greater confidence that a
bank is aware of all risks
Investors
Investors’ demand:
 Improved Return on
Equity and Return on
Capital Employed
 Increased confidence in
bank’s long-term future
from improved financial
performance indicators
 Evidence of investing in
restlessly innovative
market leader(s)
Create
Strategy
9© Misys 2014 30 March, 2015
Misys’ outside-in approach for retail banking transformation
Customers Regulators
Investors
Create
Strategy
“Misys believes that the strongest
financial institutions will be those whose IT
strategy is aligned to an ‘outside-in’
business view, where customer relevance
and market agility, driven by faster product
innovation cycles, are the key drivers for
competitiveness and long-term
success.”
Nadeem Syed,
Chief Executive Officer
10© Misys 2014 30 March, 2015
 Banks’ obsession with customer centricity and user experience
will heighten
 Operational harmony between Sales & Service activities
improves
 Greater use is made of advanced analytics to extract full value
from data
 The search for innovation and differentiation demands
experimentation
 Digital-only banks proliferate (and not just driven by start-ups)
 Targeted strategic investments and M&A activity helps grow
revenue
 Cyber-attacks relentlessly seek to exploit vulnerabilities in
banks’ systems
 Legacy IT keeps failing painfully and publicly
 Wildcard: an established P2P lender is acquired by a big bank
In 2015:
11© Misys 2014 30 March, 2015
Banks’ obsession with customer centricity and user experience heightens
61% of surveyed*
banks have a
dedicated Customer
Experience Team.
20% will introduce this
in the next 3 years.
*n = 74
Source: Efma, 2014
Misys’ opinion
The obsession with customer centricity and UX is
well-founded, as a) banks are still closing post-
crises trust gaps, b) revenue growth is intrinsically
linked with customer satisfaction and c) other
industries are improving their service standards.
12© Misys 2014 30 March, 2015
• There are 173 million smartphone owners in the US. That’s 74% and growing. There are
over 1,900 financial apps in the iTunes App Store…beginning with the letter A. That’s a
40% increase in one year alone.
• How can you truly differentiate your online and mobile banking to really stand out in this
crowded market?
Find out in our latest digital banking whitepaper – Click Here
Digital banking: 5 ways to make your customer feel special
13© Misys 2014 30 March, 2015
Operational harmony between Sales and Service activities improves
Misys’ opinion
Achievement of revenue targets depends upon
banks’ ability to successfully harmonise Sales &
Service activities, combined with a similarly
balanced focus on existing and new customers.
Greater segmentation is also essential.
5.97 5.91 5.66 5.59 5.55 5.40
4.72
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
n = 32
Source: Efma
How important are the following management priorities for your bank’s consumer business?
1 = Very Low / 7 = Very High
14© Misys 2014 30 March, 2015
Greater use is made of advanced analytics to extract full value from data
Misys’ opinion
The most successful banks will develop expertise
involving the analysis of structured and
unstructured data to provide accurate insight –
and foresight – in real-time. But attention must be
paid to data privacy concerns (and regulations).
Volume
Variety
Velocity
Value
32%
24%
30%
8%
5%
24%
14%
27%
19%
16%
0%
5%
10%
15%
20%
25%
30%
35%
Current Plan < 1 yr Plan 1-3 yrs No Plans Don't Know
Business intelligence New products or services
n = 37
Source: Efma
Does your bank have any Big Data projects for collecting
and using unstructured information from digital channels?
Big Data  Big Privacy
15© Misys 2014 30 March, 2015
The search for innovation and differentiation demands experimentation
Misys’ opinion
Banks must explore different ways to interact and
transact with customers and prospects, taking
advantage of new consumer technologies and co-
creating with 3rd parties to help launch features
and functions faster. Bold is better than boring.
16© Misys 2014 30 March, 2015
Digital-only challenger banks proliferate (and not just driven by start-ups)
Misys’ opinion
The market for digital-only challenger banks will
become more crowded with the arrival of new
players. Existing banks must decide if they want
to compete (with their own digital-only offering),
acquire, replicate ideas, or keep a watching brief.
Launched Announced
17© Misys 2014 30 March, 2015
Targeted strategic investments and M&A activity helps grow revenue
Misys’ opinion
Having been forced into defensive positions in the
post-crises era, banks will take an increasingly
offensive stance to stimulate revenue growth.
Deals must take existing technological ‘fit’ into
account, alongside other operational factors.
18© Misys 2014 30 March, 2015
Cyber-attacks relentlessly seek to exploit vulnerabilities in banks’ systems
Misys’ opinion
Cyber-attacks will disrupt banks’ strategic plans
unless adequate protective measures are put in
place. Banks will be compelled to dedicate greater
resources to combat an increasingly sophisticated
enemy, whose motivation is not purely financial.
19© Misys 2014 30 March, 2015
Legacy IT keeps failing painfully and publicly
Misys’ opinion
Diffusing the ticking legacy IT time bomb takes on
greater urgency, as systems fail with increased
regularity. This will compel banks to transform
technology, taking advantage of componentisation
and new operating models (such as SaaS).
20© Misys 2014 30 March, 2015
21© Misys 2014 30 March, 2015
Established P2P lenders become attractive targets for big banks…
Misys’ opinion
Banks cannot afford to sit back and watch P2P
lenders erode account balances. The interest
shown in 2014 will increase in 2015, and it is
conceivable that an acquisition will be made.
Probability is low, but the impact will be high.
…and at least one acquisition will be made during 2015
22© Misys 2014 30 March, 2015
23© Misys 2014 30 March, 2015
To download this SlideShare as a PDF so you can
read offline - click here
misys.com
Please consider the environment before printing this PowerPoint.
@MisysFS
Misys @ LinkedIn
MisysVideoChannel
Alex Kwiatkowski
Senior Marketing Strategist – Banking & Digital Channels
alex.kwiatkowski@misys.com

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Retail Banking Trends 2015: meeting outside-influencers’ needs

  • 1. Retail banking trends 2015: meeting outside-influencers’ needs Alex Kwiatkowski, Senior Marketing Strategist – Banking & Digital Channels
  • 3. 3© Misys 2014 30 March, 2015 Prediction is very difficult, especially if it’s about the future. Niels Bohr
  • 4. 4© Misys 2014 30 March, 2015 A future defined by overcoming the industry’s biggest challenges
  • 5. 5© Misys 2014 30 March, 2015 Industry success based on four pillars Customer Experience (CX) Performance Management Regulatory Compliance Risk Management Mandatory Mandatory Discretionary Discretionary
  • 6. 6© Misys 2014 30 March, 2015 To download this SlideShare as a PDF so you can read offline - click here
  • 8. 8© Misys 2014 30 March, 2015 Meeting the demands of retail banking’s main outside-influencers Customers Customers’ demand:  Improved user experience  Increased satisfaction level  Ease of access to relevant products & services  Greater trust in their chosen provider(s) Regulators Regulators’ demand:  Increased visibility of regulatory compliance  Mandatory reports delivered faster and with greater accuracy  Greater confidence that a bank is aware of all risks Investors Investors’ demand:  Improved Return on Equity and Return on Capital Employed  Increased confidence in bank’s long-term future from improved financial performance indicators  Evidence of investing in restlessly innovative market leader(s) Create Strategy
  • 9. 9© Misys 2014 30 March, 2015 Misys’ outside-in approach for retail banking transformation Customers Regulators Investors Create Strategy “Misys believes that the strongest financial institutions will be those whose IT strategy is aligned to an ‘outside-in’ business view, where customer relevance and market agility, driven by faster product innovation cycles, are the key drivers for competitiveness and long-term success.” Nadeem Syed, Chief Executive Officer
  • 10. 10© Misys 2014 30 March, 2015  Banks’ obsession with customer centricity and user experience will heighten  Operational harmony between Sales & Service activities improves  Greater use is made of advanced analytics to extract full value from data  The search for innovation and differentiation demands experimentation  Digital-only banks proliferate (and not just driven by start-ups)  Targeted strategic investments and M&A activity helps grow revenue  Cyber-attacks relentlessly seek to exploit vulnerabilities in banks’ systems  Legacy IT keeps failing painfully and publicly  Wildcard: an established P2P lender is acquired by a big bank In 2015:
  • 11. 11© Misys 2014 30 March, 2015 Banks’ obsession with customer centricity and user experience heightens 61% of surveyed* banks have a dedicated Customer Experience Team. 20% will introduce this in the next 3 years. *n = 74 Source: Efma, 2014 Misys’ opinion The obsession with customer centricity and UX is well-founded, as a) banks are still closing post- crises trust gaps, b) revenue growth is intrinsically linked with customer satisfaction and c) other industries are improving their service standards.
  • 12. 12© Misys 2014 30 March, 2015 • There are 173 million smartphone owners in the US. That’s 74% and growing. There are over 1,900 financial apps in the iTunes App Store…beginning with the letter A. That’s a 40% increase in one year alone. • How can you truly differentiate your online and mobile banking to really stand out in this crowded market? Find out in our latest digital banking whitepaper – Click Here Digital banking: 5 ways to make your customer feel special
  • 13. 13© Misys 2014 30 March, 2015 Operational harmony between Sales and Service activities improves Misys’ opinion Achievement of revenue targets depends upon banks’ ability to successfully harmonise Sales & Service activities, combined with a similarly balanced focus on existing and new customers. Greater segmentation is also essential. 5.97 5.91 5.66 5.59 5.55 5.40 4.72 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00 n = 32 Source: Efma How important are the following management priorities for your bank’s consumer business? 1 = Very Low / 7 = Very High
  • 14. 14© Misys 2014 30 March, 2015 Greater use is made of advanced analytics to extract full value from data Misys’ opinion The most successful banks will develop expertise involving the analysis of structured and unstructured data to provide accurate insight – and foresight – in real-time. But attention must be paid to data privacy concerns (and regulations). Volume Variety Velocity Value 32% 24% 30% 8% 5% 24% 14% 27% 19% 16% 0% 5% 10% 15% 20% 25% 30% 35% Current Plan < 1 yr Plan 1-3 yrs No Plans Don't Know Business intelligence New products or services n = 37 Source: Efma Does your bank have any Big Data projects for collecting and using unstructured information from digital channels? Big Data  Big Privacy
  • 15. 15© Misys 2014 30 March, 2015 The search for innovation and differentiation demands experimentation Misys’ opinion Banks must explore different ways to interact and transact with customers and prospects, taking advantage of new consumer technologies and co- creating with 3rd parties to help launch features and functions faster. Bold is better than boring.
  • 16. 16© Misys 2014 30 March, 2015 Digital-only challenger banks proliferate (and not just driven by start-ups) Misys’ opinion The market for digital-only challenger banks will become more crowded with the arrival of new players. Existing banks must decide if they want to compete (with their own digital-only offering), acquire, replicate ideas, or keep a watching brief. Launched Announced
  • 17. 17© Misys 2014 30 March, 2015 Targeted strategic investments and M&A activity helps grow revenue Misys’ opinion Having been forced into defensive positions in the post-crises era, banks will take an increasingly offensive stance to stimulate revenue growth. Deals must take existing technological ‘fit’ into account, alongside other operational factors.
  • 18. 18© Misys 2014 30 March, 2015 Cyber-attacks relentlessly seek to exploit vulnerabilities in banks’ systems Misys’ opinion Cyber-attacks will disrupt banks’ strategic plans unless adequate protective measures are put in place. Banks will be compelled to dedicate greater resources to combat an increasingly sophisticated enemy, whose motivation is not purely financial.
  • 19. 19© Misys 2014 30 March, 2015 Legacy IT keeps failing painfully and publicly Misys’ opinion Diffusing the ticking legacy IT time bomb takes on greater urgency, as systems fail with increased regularity. This will compel banks to transform technology, taking advantage of componentisation and new operating models (such as SaaS).
  • 20. 20© Misys 2014 30 March, 2015
  • 21. 21© Misys 2014 30 March, 2015 Established P2P lenders become attractive targets for big banks… Misys’ opinion Banks cannot afford to sit back and watch P2P lenders erode account balances. The interest shown in 2014 will increase in 2015, and it is conceivable that an acquisition will be made. Probability is low, but the impact will be high. …and at least one acquisition will be made during 2015
  • 22. 22© Misys 2014 30 March, 2015
  • 23. 23© Misys 2014 30 March, 2015 To download this SlideShare as a PDF so you can read offline - click here
  • 24. misys.com Please consider the environment before printing this PowerPoint. @MisysFS Misys @ LinkedIn MisysVideoChannel Alex Kwiatkowski Senior Marketing Strategist – Banking & Digital Channels alex.kwiatkowski@misys.com