Digital disruption in Finance

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<ul><li><p> Digital Transformation </p><p> Digital Disruption </p><p>in finance </p><p>June 2015</p><p>jo@dearmedia.be / @jcaudron / +32 475 43 80 98</p><p>mailto:jo@caudron.com</p></li><li><p>AllDigitalNow</p><p> we are a digital consulting company</p><p> founded in 2009 we work for large European </p><p>clients </p><p> we have a strong vision on the impact of digital and act accordingly </p><p> we are advisors, writers, coaches and entrepreneurs</p></li><li><p>@jcaudron</p></li><li><p>Digital disruption is real. Expect a smack in the face </p></li><li><p>who is your</p></li><li><p>Waves of Digital Disruption</p><p>1995+ Music Photography Video Rental </p><p>2010+ Print Media TV Travel HR </p><p>2015+ Finance Healthcare Automotive Retail Education Telco </p><p>2020+ All Safe havens will be subject to digital disruption </p></li><li><p>@jcaudron</p><p>Disruption</p><p>Modeling</p><p>Transformation</p><p>You have a choice</p></li><li><p>@jcaudron</p><p>What can we learn?</p></li><li><p>The Glass House</p><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p></li><li><p>Transparency, trust, authenticity,</p><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p><p>The Glass House</p><p>google.com/trends/</p><p>https://www.google.com/trends/</p></li><li><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p><p>The Glass House</p></li><li><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p><p>The Glass House Accountability</p></li><li><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p><p>The Glass House</p><p>Bi-directional</p></li><li><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p><p>The Glass House Simple, remember these guys</p><p>simple.com Humanization</p><p>Transparency</p><p>https://www.simple.com/</p></li><li><p>Transparency</p><p>Accountability</p><p>Proximity</p><p>Responsiveness</p><p>Bi-directional</p><p>Humanization</p><p>Authenticity</p><p>The Glass House New transparent technologies like the Blockchain</p><p>blockchain.info</p><p>https://blockchain.info/</p></li><li><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>The Package</p></li><li><p>Angry Birds Twitter, Facebook</p><p>Newspaper Website</p><p>CNN online / app</p><p>Blogs</p><p>Vertical sites and specialties portals</p><p>Yelo App Boxee</p><p>Spotify</p><p>Sporza.be</p><p>LinkedIn, Monster, ...</p><p>eBay</p><p>Pinterest, blogs</p><p>Weather Pro (iPhone)</p><p>Traffic: Waze + iCoyote (iPhone)</p><p>YouTube</p><p>Twitter, Facebook</p><p>RSS</p><p>Breaking news</p><p>In-depth analysis</p><p>Services</p><p>Weather</p><p>Classifieds</p><p>Jobs</p><p>Sports</p><p>TVFun</p><p>Specials</p><p>Discovery</p><p>culture</p><p>Trends &amp; Lifestyle</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>The Package Unbundling</p></li><li><p>The Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>Unbundling of banks</p></li><li><p>The Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>PayPals simple and social payments app</p><p>venmo.com</p><p>https://venmo.com/</p></li><li><p>Personalized pricingThe Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability metromile.com</p><p>https://www.metromile.com/</p></li><li><p>The Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>Rebundling of health insurance with personalized lifestyle improvements</p><p>zoomcare.com/health-insurance</p><p>https://www.zoomcare.com/health-insurance</p></li><li><p>The Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>Subscriptions &amp; packages in healthcare insurance</p><p>hioscar.com</p><p>https://www.hioscar.com/</p></li><li><p>The Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>Exquise user experience</p><p>m.gobank.com</p><p>https://m.gobank.com/</p></li><li><p>The Package</p><p>Monolithic vs. atomic</p><p>APPification</p><p>Long Tail</p><p>Personalized</p><p>Experience</p><p>Speed</p><p>Price</p><p>(Self-)service</p><p>Scalability</p><p>Scalability</p></li><li><p>The Frog</p><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p></li><li><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog Bypassing</p></li><li><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog Other industries are getting into finance</p></li><li><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog Bypassing of overdrafts through better rates and no waiting times</p><p>koalaboox.com</p><p>http://www.koalaboox.com/</p></li><li><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog Bypassing of stockbrokers</p><p>robinhood.com</p><p>https://www.robinhood.com/</p></li><li><p>Bypassing money transfer fees</p><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog</p><p>transferwise.com</p><p>https://transferwise.com/</p></li><li><p>The People bypassing banks, Bitcoin is for real</p><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog</p><p>goabra.com</p><p>https://www.goabra.com/</p></li><li><p>Bypassing</p><p>Virtualization</p><p>Fragmentation of touchpoints</p><p>The Frog Bypassing of money transfer companies</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper Product simplification will allow for new gatekeepers</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper New generations want new gatekeepers</p><p>millennialdisruptionindex.com</p><p>http://www.millennialdisruptionindex.com/</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper FinTech investments tripled in 1 year</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper They are afraid, are you?</p><p>shareholder.com/downloads/ONE/JPMC-AR2014-LetterToShareholders.pdf</p><p>http://files.shareholder.com/downloads/ONE/15660259x0x820077/8af78e45-1d81-4363-931c-439d04312ebc/JPMC-AR2014-LetterToShareholders.pdf</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper New gatekeepers</p><p>etoro.com</p><p>http://www.etoro.com/</p></li><li><p>New gatekeepers in retirement spending</p><p>myabaris.com</p><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper</p><p>https://www.myabaris.com/</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper Rebundling all methods and channels into one experience</p><p>adyen.com</p><p>braintreepayments.com</p><p>https://www.adyen.com/https://www.braintreepayments.com/</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper Apps integrate payments through stripe, not banks</p><p>stripe.com</p><p>https://stripe.com/</p></li><li><p>New gatekeepers</p><p>Recommendations</p><p>Good is good enough</p><p>Ambassadorship</p><p>The Gatekeeper Good is good enough</p><p>Pay, track, save, loan. </p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>Real-time</p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>PLACE OnlinePoS HybridOmnichannel</p><p>(digital entering PoS)</p><p>(all functions go digital too)</p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>Real-time</p><p>The rise of mobile</p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>Real-time</p><p>27% of global transactions on mobile devices</p><p>adyen.com/home/about-adyen/press-releases/mobile-payments-index-april-2015</p><p>https://www.adyen.com/home/about-adyen/press-releases/mobile-payments-index-april-2015</p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>Real-time</p><p>Empowered Self, Utility, Instant Gratification</p><p>moven.com</p><p>https://www.moven.com/</p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>Real-time</p><p>Utility for better driving behaviour</p><p>axa.com.my/1741/en/useful-links/axa-drive/axa-drive</p><p>http://www.axa.com.my/1741/en/useful-links/axa-drive/axa-drive</p></li><li><p>The Traveller</p><p>Place</p><p>Utility</p><p>Empowered self</p><p>Instant gratification</p><p>New way of working</p><p>Contextual awareness</p><p>Real-time</p><p>KBC wants to keep some offices open at night and during weekends - New way of working</p></li><li><p>The Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p></li><li><p>The Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>The sharing economy</p><p>audiunite.com/se/service/en_unite.html= 200 euro per maand per persoon</p><p>https://www.audiunite.com/se/service/en_unite.html</p></li><li><p>CrowdfundingThe Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>Civic crowdfunding</p><p>bron: frankwatching</p><p>http://www.frankwatching.com/archive/2014/10/13/hoe-civic-crowdfunding-onze-wereld-gaat-veranderen/</p></li><li><p>Peer-to-peer lending with better ratesThe Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>lendingclub.com</p><p>https://www.lendingclub.com/</p></li><li><p>Guess who are partnering with the Lending Club?The Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>lendingclub.com</p><p>https://www.lendingclub.com/</p></li><li><p>Insurance based on your networkThe Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>friendsurance.com</p><p>inspeer.me</p><p>http://www.friendsurance.com/https://www.inspeer.me/</p></li><li><p>Community for student loans and support</p><p>commonbond.co</p><p>The Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>https://commonbond.co/</p></li><li><p>Group buying your insuranceThe Participant</p><p>Community</p><p>Gamification </p><p>Collaboration</p><p>The power of the crowd</p><p>Sharing economy</p><p>boughtbymany.com</p><p>heyguevara.com</p><p>https://boughtbymany.com/https://heyguevara.com/home</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Internet of Things</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Contactless payments</p><p>This is about data, not money.</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Financial management on your wrist</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Wearables will change our lifestyle</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Credit &amp; insurance through smart device monitoring?</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>The future of car insurance?</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Data, Data, Data!</p><p>finextra.com/news/fullstory.aspx?newsitemid=27366</p><p>http://www.finextra.com/news/fullstory.aspx?newsitemid=27366</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Smart contracts</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>Programmable banks are coming</p><p>programmableweb.com/api/fidor</p><p>http://www.programmableweb.com/api/fidor</p></li><li><p>The Cyborg</p><p>Internet of Things</p><p>Wearables</p><p>Quantified self</p><p>Robotics</p><p>Data</p><p>Monitoring</p><p>New industries for insurance</p><p>bitgo.com</p><p>coverdrone.com</p><p>https://www.bitgo.com/https://www.coverdrone.com/</p></li><li><p>So, back to Digital Transformation</p></li><li><p>Create your own Digital Transformation vision and plan1</p><p>Create Digital Leadership2</p><p>Innovate in the right place(s)3</p><p>Build the Transformation Fleet4</p><p>Change the culture5</p></li><li><p>Create your own Digital Transformation vision and plan1</p><p>Create Digital Leadership2</p><p>Innovate in the right place(s)3</p><p>Build the Transformation Fleet4</p><p>Change the culture5</p></li><li><p>Glass House</p><p>Package</p><p>Frog</p><p>GatekeeperTraveller</p><p>Participant</p><p>CyborgTHE WHEEL OF CHANGE</p><p>Use the wheel to:</p><p>Spot and understand thedynamics of digital </p><p>disruption</p><p>Analyse the impact on your industry and business</p><p>Create a future vision and write a transformation strategy for your company</p><p>Build a roadmap that gets you there.</p><p>Sold in 28 countries</p></li><li><p>@jcaudron</p><p>Its no longer about digital, its about business</p><p>Corporate (comm)Strategy</p><p>Digital Strategy</p><p>CompanyStrategy</p><p>Digital World</p></li><li><p>@jcaudron@jcaudronDigital Transformation Modeling</p><p>From ... ... to</p><p>The Business</p><p>Digital (at the sideline)</p><p>Digital in the core</p></li><li><p>@jcaudron@jcaudronDigital Transformation Modeling</p><p>From ... ... to</p><p>The BusinessDigital (at </p><p>the sideline)</p><p>From ...</p><p>The Business</p><p>Digital (at the sideline)</p></li><li><p>@jcaudron@jcaudronDigital Transformation Modeling</p><p>From ... ... to</p><p>The BusinessDigital (at </p><p>the sideline)</p><p>Digital in the core</p><p>From ...</p><p>The Business</p><p>Digital (at the sideline)</p><p>Digital in the core</p><p>Digital in the core</p><p>Digital in the core</p></li><li><p>@jcaudron@jcaudronDigital Transformation Modeling</p><p>From ... ... to</p><p>The BusinessDigital (at </p><p>the sideline)</p><p>Digital in the core</p><p>From ...</p><p>The Business</p><p>Digital (at the sideline)</p><p>Digital in the core</p><p>Digital in the core</p><p>Digital in the core</p></li><li><p>@jcaudron@jcaudronDigital Transformation</p><p>TV</p><p>Rad</p><p>io</p><p>Prin</p><p>t</p><p>Billb</p><p>oard</p><p>s</p><p>DM</p><p>Dig</p><p>ital C</p><p>hann</p><p>els </p><p>From ... ... to</p><p>Sale</p><p>s</p><p>Mar</p><p>ketin</p><p>g &amp;</p><p> Com</p><p>mun</p><p>icat</p><p>ion</p><p>Serv</p><p>ice </p><p>&amp; S</p><p>uppo</p><p>rt</p><p>HR IT</p><p>PR &amp;</p><p> Ext</p><p>erna</p><p>l Com</p><p>mun</p><p>.</p><p>R&amp;</p><p>D &amp;</p><p> Ent</p><p>erpr</p><p>ise </p><p>2.0</p><p>Digital Transformation </p></li><li><p>Create your own Digital Transformation vision and plan1</p><p>Create Digital Leadership2</p><p>Innovate in the right place(s)3</p><p>Build the Transformation Fleet4</p><p>Change the culture5</p></li><li><p>If you can't understand the new world of digital, fire yourself. </p><p>Build an executive team that is digital-first (when problems arise, the first solution is always digital). Make sure there is a techie on the </p><p>board of directors. If the board has a low digital IQ, the company </p><p>will have a low digital IQ</p><p>George ColonyCEO Forrester Research</p><p>So, where are you? How digital is your </p><p>company?</p><p>Digital Leadership Assessment</p></li><li><p>The ideal situation</p><p>CEOIdeally your CEO is the digital lead</p><p>CIO COO CbsOSalesMkt</p></li><li><p>Outside world</p><p>Digital Network</p><p>Digital Officers</p><p>DIGITAL OFFICE</p><p>You need Digital Leadership, on all levels</p><p>CIO COO CbsOSalesMkt</p><p>CDO</p><p>Virtual Digital Leadership Team Digital Leads</p><p>Board of Directors</p><p>Shareholders</p><p>CEO</p></li><li><p>Create your own Digital Transformation vision and plan1</p><p>Create Digital Leadership2</p><p>Innovate in the right place(s)3</p><p>Build the Transformation Fleet4</p><p>Change the culture5</p></li><li><p>The Classics The Converted The Digital The Ruptured</p><p> (mentally) older generation that will not go digital soon</p><p> no longer open to changes brought by digital</p><p> they make you stretch the traditional business as long as possible</p><p> slowly getting involved with digital and embracing it.</p><p> they expect the digital services to be a translation of the traditional services.</p><p> most of the digital investments today are focused here, but this is mainly fixing the basics</p><p> still knows the old business models and logic, but that is already adopting a new behaviour and new business models and services.</p><p> first adopters of entirely new business models (cfr. Netflix, Uber, ). Invest in this too</p><p> raised with new concepts, with no recollection of the old models</p><p> use a broad variety of business models and technologies</p><p> digital natives, the children that grow up with tablets, apps and everything on-demand.</p><p>Traditional modelTraditional channels</p><p>Traditional modelsDigital channels</p><p>New modelsDigital channels Everything new</p><p>Incumbents (you) Challengers (them)</p></li><li><p>Different types of innovation</p><p>The Factory The Guesthouse The Garage</p><p>Incremental innovation Development of need to have </p><p>digitals projects and technology</p><p> Working on the existing foundation of the