The document discusses the challenges facing banks from new technologies and increased customer expectations. It outlines risks from issues like data privacy, availability, and talent migration. It then provides five suggestions for mitigating risk: simplify platforms by removing unnecessary complexity; slow down major changes and test small iterations; focus on value chain innovation over isolated products; invest in data visualization; and pursue targeted corporate ventures in emerging areas.

1. RISK 2.0
Selena Sol presents…..
selena@selenasol.com
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The new risk context for MNC
banks and possible mitigating
approaches

2. • Multi Device - Multi Application
• Global Mobility with instant access
• Social Mediafication of everything
• The Apple Experience
It’s a great time to be a customer

3. • Compliance Cloud & Economic Doldrums
• Legacy Platform Spaghetti
• Low Morale
• Big, Unstructured Data
It’s not such a great time to be us!

4. The chasm of context generates high risk
• Data Privacy & Identity Theft / Fraud
• A new bar for Availability
• Brand Control
• The migration of talent to what’s hip

5. 5 suggestions for dealing with
risk

6. Simplify the platform
• Stop whining and just do it before the business picks
up and it is too late
• Leverage everything-as-a-service
• Rip out the derailers in middle mgmt
• Get financial transparency of IT (biz cases)

7. Dude, slow down
• Pioneers are the guys with arrows in their backs.
First mover is usually a disadvantage
• But have a fast-follower plan
• Agile product management means launch small
but often, listen, and iterate.

8. Leverage value-chain innovation
• Focus less on product innovation and more on value chain & business
model innovation (Amazon and long tail model or Toyota and lean
supply chain)
• Our industry should be more collaborative with non-value operations

9. Invest in data visualization

10. Invest in targeted corporate ventures
• Looking for huge markets in meat space is harder and
harder
• Virtual currencies and markets will need all the same
financial products and services
• Invest in a few good learning projects ASAP

11. Entrepreneurship.