Banks Set Your Data Free Banking is essential to a modern economy. - PowerPoint PPT Presentation

Banks – Set Your Data Free “Banking is essential to a modern economy. Banks are not. ” “Your next banking product wont be from a bank. ”

Rhys Evans – Principal Consultant Versent Over 13 years of experience in technology disruption, KISS and optimising at the right time, small business to enterprise. Lazy Gen-Y type, first computer experience was pressing the turbo button on a 386 and wondering why nothing happened. Owns a lot of domain names and has way too many side projects rhys.evans@versent.com.au - +61 411 131 556 @kebabman

How did you choose your first bank? Thanks BuzzFeed

Bank Landscape of millennials don ’ t think of millennials would 53% 71% millennials are looking at 1 in 3 prefer to go to the their bank offers switching banks in the dentist then listen to a anything different than next 90 days banker other banks would be more excited about a new financial Of consumers consider of millennials believe 33% 73% 79% services offering from they don ’ t need a bank their banking Google, Apple or relationship to be at all Facebook, etc… than transactional from their own bank

Consumers want banking products – not banks

Bankers don ’ t build “experiences” customers want, they build apps for bankers to increase revenue

FinTechs are alive and well in Australia

THE EVER-EVOLVING DIGITAL DISRUPTORS Insert information Insert Action Identity Voice Shards (API) (API) (API)

? ? ? ? ? ? ? ? Shards – Our Definition ? ? ? ? ? ? Insert the information required 4:52 PM ? ? ? Click on the icon for action ? ? ? ? ? ? ? Highly contextual, personalised, ? ? ? ‘out-of-app’ experience. ? ? ? ? ? ? ? Native Notifications / Messaging on Steroids ? ? ? ?

? ? ? ? ? ? ? ? Examples of Digital Disruption in Action ? ? ? ? ? ? ? ? ? “Pay Mark $1000” ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Mark Adams Payment Confirmed ? 4:52 PM Balance Now = $2460.19 ? ? ? Not Passcode Not an Existing ‘Payee’ Not the ‘Account Summary’ (In-App) (In-app) (In-app)

? ? ? ? ? ? ? ? Examples of Digital Disruption in Action ? ? ? ? ? ? ? ? ? “Check me into my flight” ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Flight AA-404 Gate 7 Confirmed ? 4:52 PM Checked In – Seat #6A ? ? ? Not TouchID Not entering booking ref Not the ‘Flight Details’ (In-App) (In-app) (In-app)

? ? ? ? ? ? ? ? Examples of Digital Disruption in Action ? ? ? ? ? ? ? ? ? “Order more milk ” ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? A2 Milk (2 Litres) ? 4:52 PM To be delivered @ 6:30pm ? ? ? Not ‘logged in’ Not Selecting Groceries from Catalogue Not checking-out ’my shopping cart’ (In-App) (In-app) (In-app)

I’ll never log into an “Enterprise” app again. Remember we only use Enterprise Digital because we HAVE to…. “In App” Enterprise Channel is destroyed if you use voice and shards Platform providers gain further control in identity and customer behaviour

It will be a slow and expensive death. The Shard Experience AND the “In-app-experience”

No one wants your app no matter how shiny it is No one wants your new portal experience E.g. no one wants your digital experience But we have to use it because you give us no other option

Drivers in Australia Changing Banks Lunch will Changing Public Climate in Workforce / Gen Regulatory be cut (by new Regards to Banks Y & Z Environment players)

What do banks do? Build an API Platform and Ecosystem - Now

Step 1 - The Identity Arms Race Which side are you on? Be in it to win it.

Step 1 - The Identity Arms Race Banks have KYC’d customers Leverage that advantage

Step 2 - “API” Build an API Platform or have one built for you…..

Step 2 - “API” Stop building a new ESB Stop using an “API Enablement” Product on top of your old crap Stop using the same providers you have kept you on the same course for years

Step 2 - “API” Build an Ecosystem, not a closed set of “trusted partners”

Step 3 – Fight Against the Corporate Wheel of Death

THE PATH TO TRANSFORMATION / YOUR API PROGRA M CORPORATE WHEEL OF DEATH

Step 4 – Look 1 Degree beyond your boundary Identify strengths within your core business. Leverage those strengths to venture 1 degree beyond that boundary.

AD ADAP APT OR OR DIE Cho Choice i is y your urs.. .. rhys.evans@versent.com.au - +61 411 131 556 @kebabman