New Paradigm Banking

The New Paradigm

Banking (Bank 2.0)

Delivering VAS Using New

Channels and New Media

Derrydean Dadzie

Chief Doer

DreamOval Limited

The biggest risk to the finance sector today

is not from other banks, nor related to the

inability to apply Basel III risk controls or

standards.

The biggest risk to the finance sector today

is the growing gap between the institution

and the customer. [ Brett King]

Banking is necessary, but banks are not.”

Bill Gates, Microsoft Chairman, 1994

Can we be bothered?

A lot of people opting out of the banking

system because they cant be bothered?

Why cant we be bothered?

Huge gap between the banking

experience and customer behaviour

What is the reality?

The customer has evolved…

The new customer

Addicted to connectivity

Addicted to convenience

Addicted to freedom

The New Reality

Banking has evolved

The New Reality

It is no more just about

products

Loans

Bank account

Check books

Branches

Banking has evolved

The New Reality

1985:• 70% per cent of transactions

occurred trough branch, check and cash

2010 • 75% of transactions go through

internet, mobile, ATMS and other channels

1990• 11 million cheques were written in

Great Britain everyday

2010 • it has reduced to less than 1 million

Banking has evolved

The New Reality

More Channels

Banking has evolved.. Looks like any body can play?

Telcos becoming consumer banks?

Why didn’t a bank lead the way on Mobile Money?

Terrain Changing…?

Banking has evolved… Disruptive innovation from non-financial institutions

We are getting disruptive

What is driving this paradigm shift?

Customer Behaviour

Technology

How do we deliver New Paradigm Banking

(Bank 2.0)

Reinvent the Customer Bank

Experience

Re-architect the Core Banking Infrastructure

Focus on the customer

The Customer Bank Experience

Empower the Customer

• The customer chooses the channel

• Do we still need an RM?

Engage the customer

• Deliver relevant services

• Present an optimal user experience

The new customer visualisation

interface. (Dashboards)

MORE VAS, VAS, VAS

Deliver As many services as you possibly can

MORE VAS, VAS, VAS Services should be available any time

anywhere, anyhow

Create More Service Channels

Fidelity Website Project - Confidential

The Future Connected

Everyone working together

•staff and customers alike

Services delivered transparently

Medium agnostic

• customer decides channel and experience

Re-Architecting CBI

Future Connected

Socialize with customers and staff transparently

Business insights

• visualize data from all channels and interactions easily

Customer power

• All services available via all channel 24/7

Re-Architecting the CBI

What is wrong with the current

banking architecture

Suffocates the CBS

Inhibiting

Restricts Innovation

(Legal, Risk, Compliance )

Rigid (lack of flexibility)

Channel Silos

•Fragmentation across service points

Approach 1: Work Anywhere

Core Banking System

Enterprise Payments Gateway and Service Manger

(ESB)

Service Abstraction

Development Framework

Social

Media

-Facebook-Twitter

-YouTube

Mobile

App

-Android-iPhone

Blackberry

Desktop

Widgets

-Windows

-Mac

Mobile

SiteWebsite

Intranet

&

Extranet

5/15/2012Fidelity Website Project - Confidential

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Approach Two : Anything Anywhere

CBS

BPM

Enterprise Payments Gateway and

Service Manger (ESB)

Service Abstraction

Development Framework

Social

Media

-Facebook-Twitter

-Youtube

Mobile App

-Android

-Iphone

-Blackberry

Desktop

Widgets

-Windows-Mac

Mobile

SiteWebsite

Intranet

&

Extranet

5/15/2012Fidelity Website Project - Confidential

24

New Media is not LIKE Button

Build Communities

Product Research

Customer Service

Marketing & Promotion

Transparency - Blogs

What should be the approach?

Don’t Wait and See

You would be left behind

Don’t do copy and paste

Build from ground up

Who helps you deliver Bank 2.0?

5/15/2012Fidelity Website Project - Confidential

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