D14 - Inspiring Digital Business - Fintech Studio Sessions

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FINTECH STUDIO SESSION

#d14fintech @digiconx @PA_Consulting

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FINTECH STUDIO SESSION:Welcome & Introduction


Kevin O’Shaughnessy, PA Consulting

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What's it like to be in Financial Services at the moment ?

Regulation changing Distribution& Products

Customers more connected &demand better experience

An overload of new developments .. But desire to innovate

Companies looking at theirbusiness models

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The existing stuff we work with…

Internet/Extranet Sites

Workplace Portals

Wrap Platforms

FS Social Media

Financial Planning Tools

IntranetsFS Apps

Digital Marketing

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Wearable TechnologyBig Data

Digital Identity

Internet of ThingsCashless Society

Collaboration

Personalisation

The new stuff we want to get our heads around

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Digital

Culture

DigitalEngagement

DigitalEnablers

Culture: The way in which a company behaves, how it is governed and led. How it manages its strategic development and measures its digital success & performance.

Engagement: The experience and opportunities that a company creates using technology to allow its customers, employees, stakeholders and suppliers to engage and transact on and offline.

Enablers: To deliver the desired experience and engagement, a company needs a revised suite of capabilities spanning people, process, structure & technology.

Putting it together – Engagement on the outside, culture and enablers onthe inside

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How we will navigate you through the maze

The world around us and coming revolution in FS Mark Thomas, PA Consulting 11.30 11.50

Experience excellence for the connected customer Carol Mc Creadie, Client Service Director, Nunwood

11.50 12.10

Using social intelligence to influence and predict behaviour

Nathan Sage, Head of Social Intelligence, PA Consulting

12.10 12.30

Panel Debate Hosted by Gavin Neilson, PA Consulting 1.30 1.50

Creating a secure world for digital to survive & thrive John Skipper, PA Consulting & Colin Mills, Pirean

1.50 2,10

Delivering for customers – why exploration through rapid development is required to enhance customer

Robert McGill & Mickael Paris, Standard Life 2.10 2.30

How organisations are adapting to the change Rob Mettler, PA Consulting 2.30 2.45

Don’t forget to take part in our Digital Barometer Survey, either at a PA Showcase stand

or go to http://digitalbarometer.paconsulting.com/

http://digitalbarometer.paconsulting.com/

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The World around us and coming revolution in FS


Mark Thomas, PA Consulting

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Remember the dotcom hype…

0

20

40

60

80

100

120

31-Dec-97 31-Dec-98 31-Dec-99Cl

osin

g sh

are

pric

e

Amazon

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But now, much of it has turned out to be prescient

Sector Iconic casualties

Retail Books Borders

Travel Thomas Cook

Films & Music Blockbuster

Photography Films Kodak

Cameras Olympus

Information EncyclopaediaEncyclopaedia Britannica

Source: PA analysis

050

100150200250300350

31-Dec-97 31-Dec-01 31-Dec-05 31-Dec-09 31-Dec-13

Clos

ing

shar

e pr

ice

Amazon

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We are on the edge of a similar revolution

Technology

IT

Big Data

Cloud

Machine to machine

Mobile

Social media

Artificial intelligence / Robotics

Other technologies

Display including 3d

Materials

Nano-technology

3d printing

Genetics

Energy

The Arms Race

(speed of learning)

Basis for personalisation

Superior Customer Insight

Analytics: • Needs• Attitudes• Behaviours• Intentions

Superior Customer Interaction

• Product• Transaction• Information• Motivation

Superior Customer Data

Integrating:• Transactional• Non-transactional

Basis for analysis

Basis for collection

of information

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The winners may not be the competitors you expect

Similar model,

different sector

Different model,

different sector

Same sector, different

model / focus

Existing competitors Inertia has always

been the incumbents’

friend…what if it becomes their worst enemy?

20152016-20

2020-30

2030-40

Lloyds TSB

AEGON

Admiral

Aviva

HBOS

RBS

WONGA

Directline

Sheila’s Wheels

Compare the market

Go Compare

Google Wallet

Facebook

O2

M&S Bank

Tesco

Virgin

2014

2013

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Success in self-disruption requires at least the following six elements:

The unit should have all the functional skills it needs to succeed, freeing it from reliance on the parent organization, and it must not report to the business or businesses that are being disrupted.

For the incumbents to succeed, they will need to react whole-heartedly

An autonomous business unit. 1

These leaders have addressed a variety of challenges, especially in the kinds of problems the new growth business will face. They are often necessarily sourced from outside the organization.

Leaders who come from the relevant “schools of experience.”

2

This will fund the unit regardless of the fortunes of the core business. A separate resource allocation process.3

These should not be required to coordinate with or defer to the existing sales organization. Independent sales channels.4In most cases it will reflect priorities different from those of the core business. You can expect the new unit to do as well as the core in terms of net profit per dollar of sales, but the formula for generating that profit (such as gross margins or asset turns) must be different.

A new profit model.5He or she must be willing to spend an inordinate amount of time understanding and guiding the development of the new business and must protect it from the natural desire on the part of managers in the core business to shut it down and appropriate its resources.

Unwavering commitment by the CEO.6

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This sort of change can happen faster than you imagine

Models Company Issue Time from peak to

problem

‘Widgets vs digits’

Kodak Digital cameras 30 years

Newspaper classified ads Craigslist 17 years

Argos Internet purchasing 15 years

Blockbuster Digital streaming 15 years

Encyclopaedia Britannica Wikipedia 11 years

‘Digits vs digits’

Nokia Apple 5 years

Apple Android ??

“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”

― Bill Gates

Source: PA analysis

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How might this change the landscape for suppliers?

0%

25%

50%

75%

100%

New entrants and reinventors Large incumbents Others

Source: PA analysis

A challenging regulatory environment with a desire to encourage

new entrants will increase the likelihood

of such a scenario.

www.youtube.com/watch?v=njnNVV5QNaA

http://www.youtube.com/watch?v=njnNVV5QNaA

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Questions


EXPERIENCE EXCELLENCE FOR THE CONNNECTED CUSTOMERCarol McCreadie

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CUSTOMER EXPERIENCE EXCELLENCE STUDYUK, USA and Australia, since 2010

Why Do We Do This?

To find out Who

To find out How

To uncover the Common Elements

To help our clients excel

How Do We Do This?

Scale questions

Cross industry comparisons

Critical Incident Questioning

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WHO ARE THE TOP PERFORMERS?Who are the Customer Experience Winners?

The Top 10 (UK)

1st

2nd

3rd

5th

6th

7th

9th

10th

Position Brand Score

8.25

8.23

8.19

8.18

8.01

8.00

7.98

7.95

7.93

7.90

4th

8th

The Top 10 (US)

1st

2nd

3rd

5th

6th

7th

9th

10th


8.17

7.96

7.88

7.81

7.73

7.64

7.63

7.62

7.60

7.52

4th

8th

The Top 10 (Australia)

1st

4th

5th

6th

8th

9th


7.95

7.95

7.83

7.74

7.53

7.52

7.50

7.45

7.43

7.41

3rd

7th

1st =

2nd

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WHICH INDUSTRIES EXCEL?

Groce

ry R

etail

Reta

il

Rest

aura

nts

Trav

el

Finan

cial

Serv

ices

Ente

rtain

men

t

Telco

Utiliti

es

HighestLowest

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THE SIX PILLARS OF EXPERIENCE EXCELLENCE

Personalisation

Time & Effort

Resolution

Expectations

Integrity

Empathy

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EXPERIENCE SIGNATURE Top 10 Experience Signature

Personalisation

Integrity

Time & Effort

Expectations

Resolution

Empathy

8.28

8.13

8.49

7.72

7.79

7.54

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WHICH PILLARS ARE DRIVING THE TOP TEN?

Top 10 Pillar Performance vs. Average

Perso

nalisa

tion

10%

Inte

grity

14%

Tim

e &

Eff

ort

9%

Exp

ecta

tions

12%

Reso

lutio

n

14%Em

path

y14%

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PERSONALISATIONTailoring the broad experience to the customer needs in a way that feels right for each customer

• Are you passionate about making each customer feel like an individual?

• How do you translate this in a ‘digital world’?

• Have you put in place enough of the small steps to build an emotional connection with your customers?

• What additional steps are needed to connect to your customer online?

Experience leaders are: using big data to know their customers individually to drive 1-2-1 conversations

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Lush:• Qualification based sales process

• Friendly

• Problem solving

Personalisation Score:

7.77Personalisation Score:

8.27

Body Shop:• Pressure to buy more

PERSONALISATION: BEST PRACTICE

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TIME & EFFORTValuing time, minimising effort in interactions, making it easy for consumers to do business

• Have you maximised technology to raise the bar?

• e.g. Amazon – ‘frictionless’ customer service

• Do your customers feel that their time is well spent when they deal with your business?

• Do you make it easy for your customers to do what they need to do, no matter what channel they choose and if they change channel?

Experience leaders are: analysing processes from the customer

perspective to remove unnecessary barriers

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TIME & EFFORT - CLICK & COLLECT

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EXPECTATIONSAccurately setting, meeting and exceeding expectations

• Do you deliver your brand promise consistently to all your customers?

• Are your customers delighted when they deal with your company? Is it easier or more difficult to do this in a ‘digital world’?

• Does your company set expectations with care and understand the implications if they are not met?

Experience leaders are: consistently exceed expectations via ‘magic

moments’ to customers

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EXPECTATIONS – U Bank - Australia

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EMPATHYUnderstanding the customer’s circumstances to drive a deeper rapport

• Are your employees trained and capable to react to individual customer feelings?

• Does your company genuinely care for the customer from the most senior all the way down?

• Are your processes flexible enough to respond to individual customer circumstances?

Experience leaders are: building an inherent flexibility within their internal culture

which empowers their people to react to the customer

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EMPATHY - CASE STUDY:

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RESOLUTIONTurning a poor experience into a great one – putting things right when they go wrong

• Process is often the enemy! Do you have the right processes in place to resolve things for the customer quickly and sincerely?

• Do you focus on the lifetime value or potential value of the customer when resolving things?

• If something does go wrong, do you leave your customer feeling good?

Experience leaders are: minimising issues through root-cause analysis and diverting resources to ‘heroic recovery’ for serious

problems

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A business you can trust, delivers on promises and consistently acts in customers’ best interests

• What does ‘the right thing’ mean to your customer?

• Do you know what your business stands for? Is this a shared vision across the company? Is it applied to all processes?

• 2013 vs 2012 performance Co-operative FS – fell 110 places Starbucks – fell 39 places Amazon – fell 3 places

• Slow to build…….quick to fall

INTEGRITY

Integrity leaders are: making clear , unambiguous statements of intent, delivering consistently at micro and

macro levels

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INTEGRATING BEST PRACTICE INTO YOUR BUSINESS

• Manage via a senior governance group• CEO communications & messaging

• Weave into the culture

• Regular updates• Central to business briefing

• Launch with impact• Closed loop design

• Recruit• Train

• Build into ‘everybody’s everyday’!

Customer at the Heart The Six Pillars as an Experience Framework

• Understand • Diagnose• Prioritise

• Design

Push Metrics & Priorities Across the Business

Implement & Improve

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THANK YOU!

Personalisation

Time & Effort

Resolution

Expectations

Integrity

Empathy

Many more case studies available at nunwood.com

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Social Intelligence : Influencing & predicting customer behaviour


Nathan Sage, PA Consulting

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What is social media? It’s just life that people have chosen to digitally share

Cartoon by John Atkinson ©2011-2014 http://wronghands1.wordpress.com/2013/03/31/vintage-social-networking/

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Scientific (Googled) definition

Social Intelligence is the mental ability to understand the motives, emotions, intentions and actions of others and to motivate and influence the behaviour of (groups of) people

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Combining the two creates a new playing field in the war for customer centricity and better intelligence

Behave Feel Connect

Predict personality & behaviours (group or individual)

Trusted influence and peer recommendation

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Social intelligence is the most significant growth opportunity for the next 5 years?

98%predictable

78% influential

$200 million reward

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Timeline: An illustration of key life events as they’re experienced on Twitter

These Twitter conversations are excerpts from real, and randomly selected Twitter

conversations about each theme.

‘Trying to think of what legal career I would like to pursue when I graduate. #toomanyoptions07-Apr-2014

‘So excited to start learning to drive on Thursday!’ 05-Apr-2014

‘My plan for the summer is to buy a house, I will succeed!’ 30 mins ago

‘So happy I'm starting my own business this may! #ceo’ 02-Apr-2014 17:59 PM

‘Oh yay!! A little fun in the sun, drinking, laughing, and fun girls weekend! #3moredays xo’ 17 hours ago

‘Oh my Gosh. He proposed, we're getting married!’ 17-Feb-2014 16:48 PM

‘We're Planning A Baby!’ 02-Dec-2013

17:55 PM

‘Family holiday planning roll on September x’ 09-Mar-2014 05:50 AM

‘Yes, it's true. I am retiring at the end of the month’07-Dec-2013 05:48 AM

‘I have been busy taking care of my husband after his first hip replacement.’ 05-Mar-2014 15:22 PM

‘I had to plan my husbands funeral for Christmas.’ 05-Feb-2014 20:04 PM

At Leeds Uni have open day with daughter. Already empty nest pangs but must let my girl fly... 12-Oct-2013 06:36 AM

http://map.sysomos.com/?dRg=92&mGo=gb&luc=false&viw=twitter_search_simple&sFl=&sco=DATE_ISOME&&q=%22#toomanyoptions%22

http://map.sysomos.com/?dRg=92&mGo=gb&luc=false&viw=twitter_search_simple&sFl=&sco=DATE_ISOME&&q=%22#toomanyoptions%22

http://map.sysomos.com/?sDy=15987&eDy=16169&luc=false&viw=twitter_search_simple&sFl=&sco=DATE_ISOME&&q=%22#ceo%22

http://map.sysomos.com/?sDy=15987&eDy=16169&luc=false&viw=twitter_search_simple&sFl=&sco=DATE_ISOME&&q=%22#3moredays%22

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PA identifies 60,000 people interested in buying a car in the UK over the past 3 months. Only 111 have had their need for finance satisfied providing a significant customer targeting and conversion opportunity for the bank

1,236 Mentions of car purchasing

and / or finance

111 Mentions of car

finance / loan and a bank

60,000 Tweets expressing intent to purchase a car

Number of mentions relating to buying a car on Twitter over the last 6 months

“Got to get my car MOT'd for the first time this week, timed it all

wrong because I'm looking at new cars at the weekend!! #fail”

08/07/13

“Gonna have to get a bank loan or get a car on finance :)”

12/05/13

“If you look on a car dealership site it usually shows you whether you can buy it outright or whether

they offer finance...” 08/07/13

“#Santander need to hurry up and send through my loan

paperwork....need to get this car sorted! ...” 08/07/13

http://map.sysomos.com/?dRg=30&mGo=gb&luc=false&viw=twitter_search_simple&sFl=&sco=DATE_ISOME&&q=%22#fail%22

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PREDICTABILITY

Anticipating human behaviour will become

the norm

The power of the crowd will challenge

the power of governments and

organisations

The battle for influence and control

will be a primary factor for success

INFLUENCE

Predictability, power, and influence

THESE WILL CHANGE OUR LIVES FOREVER…

POWER

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OF ALL DATA IS CREATED BY CONSUMERS

75%

Anticipating human behaviour will become the norm

1. Businesses will use mapped behaviour patterns to predict consumer needs and identify new trends as they emerge

2. Years of big data and online activity will allow organisations to understand consumers intimately and target them precisely

Billions of people now record and share their lives so openly on social media. This information can be analysed to establish norms, which in turn reveal interests, attitudes and beliefs.

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The power of the crowd will challenge the power of governments and organisations

1. Businesses will use crowd thinking to co-create products and services, and encourage product acceptance

2. Consumers will create demand via the crowd and the traditional sales model will collapse

3. Corporate agility will become the key factor for success as barriers for new market entrants continue to shrink

4. Organisations and governments will create their own influential crowds to counter the power of consumer-led crowds

PEOPLE POWER

During 2010 the total number of Facebook users in the Arab world increased by 78% to 21.3 million


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The battle for influence and control will be a primary factor for success

1. Tribes will form around people of influence with global reach & power. This will diminish country and cultural influences and generate new centres of power

2. Governments will start to lose influence to individuals and will legislate to protect and regain power

3. Cybercrime will be the new crime bonanza, creating an economic force so strong that traditional combat tactics will have zero impact


(23)

The number of people following the pop star

JustinBieber

is the same as the population of

SPAIN

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Questions


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FINTECH STUDIO SESSION PANEL DEBATE


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CREATING A SECURE WORLD FOR DIGITAL TO SURVIVE AND THRIVE


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Thriving in a digital world. How can security help?

S a f e a n d s i m p l e

P r o p o r t i o n a t e . I n t u i t i v e . F a s t .

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P e r s o n a l a n d t r u s t e d

W h a t c u s t o m e r s w a n t . H o w t h e y w a n t i t .

W h e r e t h e y n e e d i t .

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Richer func t iona l i t y

M o r e o p t i o n s . M o r e o p p o r t u n i t y.

M o r e b u s i n e s s .


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Case study #1

Service transformation for a leading health, general and life insurance multinational.

Case study #2

Secure online banking for international Wealth and Investment Management organisation.

Business objectives:

• Provide secure access to service portals for employees, customers, brokers and financial advisors.

• Transform application and service delivery platforms. Better enable rapid go-to-market initiatives for new services.

• Introduce customer self-care.

• Deliver strong authentication and an extensible platform for integrating future technology.

Business objectives:

• Deliver secure online banking services, compliant with the requirements of the Monetary Authority of Singapore.

• Implement enhanced security controls with new 2FA mechanisms, end-to-end encryption, out of band transaction confirmation and secure/automated issuance of passwords and tokens across multiple devices.

• Provide seamless customer migration from existing account and security systems.

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Questions


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Delivering for Customers

Robert McGill & Mickael Paris

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Confidential Restricted – Not to be disclosed beyond authorised roles within Standard Life group or authorised third parties

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13mDrop in living

standards

£320bnSavings Gap

7.5mAdvised to direct

13mLooking for help

(MSE)

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Progress over

perfection

Small expert dedicated

team

Light governance

Co-creation

No ideologies or

HIPPOs

Autonomous with support

Healthy tension

Small iterations

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411%

646% > 10x

10 - 25

success

challenges

border control

whack-a-mole

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Always know why

Don’t guess

Don’t want

everything

Invest in people

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Enabling change, enabling success

Mickael Paris

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Why Rob and I should hate each other

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Why we don’t

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Change of pace

Before After

• Adding GWT verification code = 6 months

• Removing a banner from secured site = 9 months

• Adding Multivariate Testing (MVT) tags on all pages = 1 week

• Making half a site mobile responsive = 1 month

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Change of strategy

14 years and barely any change outside of colouring…

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2000 2005MyProducts added

2007Doc centre added

2010 2011Rebrand Now

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Change of strategy

…but, being faster now allows us to have a real customer-driven strategy

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Change of approach

Having an “omni-department” team allows us to move from regulatory content updates to on-going website optimisation. Or when a few numbers can speak a thousand words:

Being data-driven rather than slaves to red-tape: MVT

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24%ISA applications

45%Pension applications

292%Registrations

1 weekDesign and content sign-off

1 weekImplement test

2 daysQA

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What the future holds for us

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Move fast with proof of concepts

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In big organisations the introductions of new technologies and new services can be time consuming and resource intensive.

However since we changed our way of working:

MVT: 3 months from needs identification to 1st test

Web Chat: 2 months from sign-off to live date

Coming soon:

Phone/email/text re-targeting: Contacting People who abandoned a purchase

Online to offline tracking: Understanding which online activities are driving phone sales


What the future holds for us

Now we are set-up and geared up for change we want to keep the momentum going and transform Standard Life from a nearly 200 years old unmovable beast to a leading e-business company.

• Online segmentation: “Give me what I’m interested in…”• Behavioural targeting at the individual level: “…what I need…”• Becoming device agnostic:”…when and how I want it.”

We also want to become the place to go to for financial guidance by:• Developing new tools• Developing new apps• Create the first “real” online guidance platform

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Questions

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How organisations are adapting to the change


Rob Mettler, PA Consulting

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The world is changing and creating a new type of business…

Digital

Culture

DigitalEngagement

DigitalEnablers

© PA Knowledge Limited 2014

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So where are others and where are you…

Dabbling in digital

Digitisingtoday

Digitaltomorrow

• No channel integration• Heavily marketing biased • Me-too services• Minimal desire to change• Minimal people with digital skills

• Multi-channel e.g. on-line, mobile and phone• Some new digital customer services• Self service, zero-touch transactions• Have a digital strategy• Digital operations added to organisation

• Omni-channel operations Major growth and new revenues

• Business strategy is digital strategy• Organisation re-structured to be

digital – new operating models

0

1

2

3

4

5

6

1 2 3 4 5 6 7


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19%

22%

25%

16%

10%

4%3%

10%

0%2%

9%

19%

31%29%

0%

5%

10%

15%

20%

25%

30%

35%

Digital Dabbling (1) 2 3 4 5 6 Digitising Tomorrow(7)

32. Where are you now? 33. Where do you want to be?

Barometer data © PA Knowledge Limited 2014

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17%

21%

27%

17%

10%

4%3%

7%

0%2%

7%

19%

33% 32%

0%

5%

10%

15%

20%

25%

30%

35%



12%

24%

21%

31%

7%

2% 2%

5%

0%

2% 2%

19%

45%

26%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%




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We clearly understand how digital will transform our business/institution

dddddd

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5

Disagree Slightly Disagree Neutral Slightly Agree Agree

15%

24%

29%

21%

11%

7%

21% 21%

43%

7%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

1 2 3 4 5


Overall Average Financial Services

Barometer data © PA Knowledge Limited 2014 – Blue: Overall Respondents (326) Orange: Financial Services (42)

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We have restructured our business/institution in line with our digital ambition

dddddd

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5


30%32%

22%

10%

6%

10%

50%

26%

14%

0%0%

10%

20%

30%

40%

50%

60%

1 2 3 4 5




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We are using digital to target new customers with new propositions

dddddd

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5


We have restructured our business/institution in line with our digital ambition

• Paperless, branchless and card less, bank

• Uses mobile as the key device for banking.

• Uses social scores to determine pricing and access to products.

• Integrated timeline to show customers the impact of their life on their spending habits

We are using digital to target new customer with new propositions

31%

27%

21%

15%

6%

8%

38%

27%

24%

3%

0%

5%

10%

15%

20%

25%

30%

35%

40%

1 2 3 4 5



Barometer data © PA Knowledge Limited 2014 – Blue: Overall Respondents (326) Orange: Financial Services (42) Source: Moven website

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What is the driving force for digital change for your business/institution…

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5


We have restructured our business/institution in line with our digital ambition81%

45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Customers Competitors Employees Shareholders Market opportunities Regulation

What is the driving force for digital change in your business/institution

79%

46%

31%

12%

49%

16%

5%

90%

50%

19%

26%

50%

14%

5%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Customers Competitors Employees Shareholders Market opportunities Regulation Other



90

#d14fintech

Who is driving digital inside your business/institution?

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%


19%

13%

26%

12%

5% 5%

20%

0%

5%

10%

15%

20%

25%

30%

The CEO The board Marketing IT Operations Customer service Other

What is the driving force for digital change in your business/institution


Source: www.retail-week.com (Photographer Jason Alden)

Source: John Lewis website

http://www.retail-weeek.com/

91

#d14fintech

We deliver a seamless integrated experience to our customers

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%


We deliver a seamless integrated experience to our customers across channels 36%

29%

23%

9%

4%

26%

36%

24%

10%

5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

1 2 3 4 5




92

#d14fintech

We use digital innovations to improve the customer experience

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%


21%

36%

23%

13%

8%

0%

5%

10%

15%

20%

25%

30%

35%

40%

1 2 3 4 5


We use digital innovations to improve the customer experience

23%

35%

22%

14%

7%

12%

48%

14%

19%

7%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

1 2 3 4 5




Sou

rce

: B

arcl

ays

we

bsi

te

Sou

rce

: Ap

ple

ITun

es

http://www.barclays.co.uk/Mobile/BarclaysPingit/

93

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Digital disruption is making its way across the enterprise

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%


We use digital innovations to improve the customer experience63%

34%

21%

14%

26%

43%

2%

0%

10%

20%

30%

40%

50%

60%

70%

Marketing Sales/conversion Product/service in life Product supply chain New productdevelopment

Customer service Other

We have adapted our processes for the digital world in the following areas 61%

31%

21%

13%

25%

42%

2%

64%

48%

29%

21%

17%

45%

0%0%

10%

20%

30%

40%

50%

60%

70%





Source: First Direct website

94

#d14fintech

Governance needs adapting…

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5


We have restructured our business/institution in line with our digital ambitionWe use digital innovations to improve the customer experience32% 32%

20%

11%

4%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5


Our existing governance models are suitable for digital business

33%32%

20%

11%

4%

29%

38%

19%

14%

0%0%

5%

10%

15%

20%

25%

30%

35%

40%

1 2 3 4 5




95

#d14fintech

Importance vs. implementation of big data (part 1)

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%



34%

21%

14%

26%

43%

2%

0%

10%

20%

30%

40%

50%

60%

70%




31%

21%

13%

25%

42%

2%

64%

48%

29%

21%

17%

45%

0%0%

10%

20%

30%

40%

50%

60%

70%




14%

3%

14%

33%

36%

5%7%

5%

29%

55%

0%

10%

20%

30%

40%

50%

60%

It is not important (1) 2 Not sure (3) 4 Very Important for the future (5)



96

#d14fintech

Importance vs. implementation of big data (part 2)

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%



34%

21%

14%

26%

43%

2%

0%

10%

20%

30%

40%

50%

60%

70%




31%

21%

13%

25%

42%

2%

64%

48%

29%

21%

17%

45%

0%0%

10%

20%

30%

40%

50%

60%

70%




38%

34%

17%

8%

3%

29%

40%

26%

5%

0%0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Not used (1) 2 Currently used by some areas ofthe business (3)

4 Currently used throughout thebusiness (5)



97

#d14fintech

Importance vs. implementation of mobile (part 1)

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%



34%

21%

14%

26%

43%

2%

0%

10%

20%

30%

40%

50%

60%

70%




31%

21%

13%

25%

42%

2%

64%

48%

29%

21%

17%

45%

0%0%

10%

20%

30%

40%

50%

60%

70%




11%

2%

9%

27%

50%

7%

2%

10%

29%

52%

0%

10%

20%

30%

40%

50%

60%

It is not important (1) 2 Not sure (3) 4 Very Important for the future (5)



98

#d14fintech

Importance vs. implementation of mobile (part 2)

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5



45%

31%

12%

51%

15%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%



34%

21%

14%

26%

43%

2%

0%

10%

20%

30%

40%

50%

60%

70%




31%

21%

13%

25%

42%

2%

64%

48%

29%

21%

17%

45%

0%0%

10%

20%

30%

40%

50%

60%

70%




24%

26%25%

17%

8%

12%

38%

33%

14%

2%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Not used (1) 2 Currently used by some areas ofthe business (3)

4 Currently used throughout thebusiness (5)



99

#d14fintech

This won’t be easy, but nothing that matters is easy…

13%

24%

29%

23%

11%

0%

5%

10%

15%

20%

25%

30%

35%

1 2 3 4 5


Organisation culture/structureLack of Digital Expertise

Cost and InvestmentLegacy/Technological Constraints

Limitations due to strategy

Leadership buy-in

Governance

Lack of agility

Prioritisation/focus/time

Established market dynamics

“Inertia in the parent organisation”

“Understanding and buy in from SMT”“Lack of digital expertise to drive the investment”

“Getting the leadership team to believe and act”

“Getting agreement on the best way forward”


100

#d14fintech

The new world’s exciting, it’s changing, transform and focus on the customer

Digital

Culture

DigitalEngagement

DigitalEnablers

Look at this holistically, digital on the outside,

digital on the inside

The world’s changing,create a business for

tomorrow’s world

Focus on the

customer


101

Thank you for listening


Presentations & Public Speaking

D14 - Inspiring Digital Business - Fintech Studio Sessions