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Source: EFMA Innovation Survey
High Neutral Low
Threat of Industry Disruptors (Perceived by Global Banks)
88 12
63 37
61 63 6
67 32 1
45 49
26 67
8 78 14
32 55 12
Mobility
Big data
Social Channels
Gamification
Technology Companies
Start-ups
Telco’s
Retailers
5 67 28
Insurers
6
8
Importance of Innovation (Themes For Global Banks)
Building a digital bank is a matter of survival
What is driving digital transformation & innovation?
A change in society behavior
Omni Channel UX is improving Loan conversion
rates and reducing dropped leads
50%
36%
32%
45%
Custom Developed
Desktop & Mobile
Loan Application
KYC, Passport &
Emirates ID
Verification
Friction Reduction -
Unnecessary Fields
Removed
Mobile Onboarding
and UX Optimization
Starting Point After 5 Weeks
Source: EFMA Innovation Survey
37% 50% 61%60%
2014201320112009
37%
61%
2009
2014
More and more banks have an
innovation strategy
Banks are increasing their investment in
innovation
Mobile
Innovation in banking is becoming more common day by day
Channel innovations bankers believe deliver the most customer value proposition
Percentage of global banks with an innovation strategy
13%
84%
75% Mobile payments
70%Automated account origination
70%Analytics-led cross sell suggestions
Online
70% Services on multiple device types
46% Personalized mobile marketing offers
59% Personalization of marketing offers
Branch
53%Personal financial management tools
67%Financial planning tools
53%360 degree view of customers entering branch
Banks investing to provide Omni-channel user experience
Started on a Smartphone
The importance of mobile on-boarding and the cross channel experience
Searching for information
Browsing the internet
Shopping online
Planning a trip
Managing finances
Social networking
Watching an online video
65% 63% 65% 47% 59% 66% 56%
60% 58% 61% 45% 56% 58% 48%
4% 5% 4% 3% 3% 8% 8%
Continued on a PC
Continued on a Tablet
Digital Distribution - Mobile Apps, Contextual Advice & On-Boarding
23
24
25