Digital Banking

RethinkRedefine Reinvent talent

DID YOU KNOW?The volume of data processed in 2014 was approximately 6 zettabytes*. 6 zettabytes? :6,000,000,000,000,000,000,000 bytes.

*Source: IDC

How much data is that?

3.2bOnline Users44% of worldpopulation*

Mobile Subscriptions96% of world population*

47b E-Commerce & Mobiletransactions & payments2011-2015**

4.9b

Connected thingsUp 30% vs 2014***25bby 2020

Source: *International Telecommunications Union **Capegemini ***Gartner Inc.

Breaking convention

The Big Shift

Jan 15 2016 | BizJournalMore than 1,600 bank branch closures in the U.S. last year.

13 May 2016 | BBC NewsBanks close more than 600 branches over the past year in the UK. In total, about 3,000 branches have shut over the last decade, leaving around 8,000 now. Figures from RBS show that over-the-counter transactions have fallen 43% since 2010. At the same time, online and mobile banking have increased four-fold.

June 15, 2016 | CNNBank of America has 23% fewer branches and 37% fewer workers than in 2009.

28 July 2016 | The TelegraphLloyds Banking Group is chopping another 3,000 jobs and closing a further 200 branches in a bid to save money and meet customers' increasing enthusiasm for online banking.

23 Jun 2016 | CNBCDeutsche Bank to shut 188 German branches, cut 3,000 staff following strategic overhaul announced in 2015 that it would cut 9,000 staff positions.

BRACE for significant disruption to YOUR culture, YOUR business models and the very way YOU work

Non digital native companies will simply have to adopt and adapt or FACE EXTINCTION

With this urgency come unprecedented challenges in managing organisational transformation NAMELY PEOPLE

PwC’s 2015 Annual Global CEO Survey indicated that 73% of CEOs identified the availability of key skills as one of the top three threats to their companies

Rethink hiring by focusing on mindset rather skillset i.e. look at attitude or disposition or an inclination or perspective instead of CV qualifications

“Mindset is about being adaptable, open, resilient and curious, one that is collaborative and learns quickly, that is ‘barrier blind’ and that yearns for speed, change and continuous learning.” Hudson Talent Management UK

Align the workforce and HR strategy with the business i.e. coordinate the workforce approach with the overall digital business strategy

Redefine organisational structure to a less hierarchical one as digital natives prefer flat, flexible, risk-taking cultures where change is the norm

Reinvent work culture where a fail-fast-learn philosophy is encouraged over tried-and-tested methods

INVEST IN DIGITAL SKILLS!!!