Download as PDF, PPTX
Uploaded byAman Narain
Viva La Revolution: Why Universal Banking is under siege and what needs to be done.
Universal banking is facing significant challenges due to technological advancements and evolving customer expectations, leading to a trend towards commoditization. Key issues include high service costs and outdated processes, necessitating a digital-first strategy focusing on customer experience and innovation. Banks are encouraged to adapt by embracing ecosystems, investing in data accessibility, and prioritizing privacy and security in their operations.
More Related Content
Similar to Viva La Revolution: Why Universal Banking is under siege and what needs to be done.
Viva La Revolution: Why Universal Banking is under siege and what needs to be done.
- 1. What’s next forUniversal Banking under siege? Aman Narain September 2014
- 2. We live ininteresting times.
- 3. Times of incrediblechange COMMUNICATION MUSIC HOTEL ARCHITECTURE TRANSPORT HEALTHCARE TELECOMS BANKING
- 4. Change driven byTechnology Innovation. BIG DATA CLOUD LOW COST HIGH FIDELITY INTERNET OF THINGS
- 5. Change driven byTechnology Standards. WSJ: 25 Dec, 2012
- 6. Change driven byTechnology Cost. Average Global Smartphone Pricing Trends Global Bandwidth Cost Trends Global Storage Cost Trends @KPCB
- 7. EXPERIENCE NOT PRODUCTS PLUG AND PLAY ECOSYSTEMS Change driven by Customers. DIGITAL NOW A HYGIENIE CRITERIA 90 %
- 8. ENCOURAGING COMPETITION DRIVING STANDARDS REMOVING ADVANTAGE Change driven by Regulation.
- 9. Change driven byCompetition. Not them. WSJ: 25 Dec, 2012 UNIVERSAL BANKING
- 10. Change driven byCompetition. But them. P2P NEO BANKS MASS MARKET WEALTH SMALL BIZ
- 11. All this putsUniversal Banking under siege...
- 12. …and on theslippery slope of commoditization. 1. High Cost to Serve 2. Expensive Real Estate 3. Addiction to People 4. Non Standard Processes 5. Entitlement Culture 6. Overreliance on WalkIns
- 14. #1. FOCUS ONA UNIFIED DIGITAL EXPERIENCE NOT OMNI-CHANNEL #2. PIVOT BRANCHES " FROM ORIGINATION TO DELIVERY & DISCOVERY " POWERED BY SOCIAL CONVERSATIONS
- 15. #3. FOCUS INVESTMENTON DATA AND ACCESSIBILITY NOT ON BANKING SYSTEMS AND INFRASTRUCTURE #4. LADDER INVESTMENTS AND PREPARE TO ACQUIRE STARTUPS
- 16. #5. BUILD DIGITALFIRST PRODUCTS & ZERO OPS. #6. MONITIZE DIGITAL
- 17. #7. JOIN ECOSYSTEMSAND MASTER CO-OPETITION. #8. SWEAT THE SMALL STUFF & CULTIVATE " THE LONG TAIL OF INNOVATION.
- 18. #9. " EMBRACEPRIVACY AND SECURITY TO REPOSITION YOU WITH CLIENTS #10. DESIGN A CULTURE WITH EXPERIENCE & TECHNOLOGY" AT THE" HEART OF " IT ALL.
- 19.