Fintech and High-Performing Airlines: The CFO as the Change Agent
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Transcript of Fintech and High-Performing Airlines: The CFO as the Change Agent
THE CFO as the Change Agent
Fintech and High-Performing Airlines
Noel ConnollyVP Sales-MEA – CellPoint Mobile
TODAY’S AGENDA
• Revenue Opportunities• Seamless, Omnichannel
Operations• Mobility & Technology• Airline Modernization• Competitive Advantage• Passenger Satisfaction
The CFO as the “Change Agent”: New Roles, New Responsibilities, & New ExpectationsWhy CFO-Led Change is Important
FINTECH & THE AIRLINE MARKET
FINTECH: “Fintech refers to new applications, processes, products or business models in the financial services industry.” (Definition: Wikipedia)
INDUSTRYDISRUPTOR
REVENUE OPPORTUNITY
CUSTOMER ENGAGEMENT TOOL
FINTECH’S GROWTH & INFLUENCE
$5 Billion invested in Fintech in Q1 2016-47% YOY Q1 growth(Accenture/CBInsights)
38% of 2015 fintech investments involved PAYMENTS(Venture Scanner)
Estimated $762 Billion (USD) In global digital travel sales by 2019 (eMarketer)-$220 B in U.S.-$185 B in western Europe-$14 Billion in Central-Eastern Europe
19 private fintech companies valued globally at $58.7 billion (USD)-14 handle payments or lending (Accenture/CBInsights)
75%+ of airline passengers travel with mobile devices and want to pay via mobile (SITA)
FINTECH: CHALLENGES FOR AIRLINES
Legacy Systems & Operations
Mobile-Centric and Mobile-First Passengers, Technologies & Devices
Security concerns
Lengthy Time to Market for Solutions
Disconnected Data in Divisional Silos
Disconnected Sales Channels
Move Out of Traditional CFO Accounting/Finance Zones to:
Ride Innovation Waves Fueled by Fintech Innovators “Digitalize” Business Operations
Create End-to-End, Passenger-Centric Data & Operations Integrate Data For End-to-End View of the Passenger Explore Blockchain Capabilities for Open Architecture
Strategies Capture Mobile-Centric Direct & Ancillary Revenues Meet Passengers’ Mobile Behaviors & Expectations Position Airlines for Resilience Maintain a Competitive Advantage
CFOs MUST RE-IMAGINE FINANCIAL OPERATIONS
AIRLINE CFOs MUST BUILD BRIDGES TO……
C-SUITE
Turn Payments into Revenue Generators
• Launch mobile payments and advocate other fintech initiatives
IT & Customer Service
Streamline Data, Projects & Timelines
• Create and Integrate Passenger-Centric Data Into All Airline Operations
• Speed Time-to-Market for New Solutions
E-Commerce
Support omnichannel sales/transactions
• Create More Paths to Purchase
• Turn “Lookers” into “Bookers”
• Engage & Satisfy Passengers
FINTECH AND CFOS IN 2020: PREDICTIONS“Perhaps chief technology evangelizer, chief strategic engineer or chief operations partner should share the billing with the finance title.”
“CFOs today are expected to fill all of these roles.”
Forbes.com 2015, “The Future of the CFO
Questions?
United States1111 Brickell Avenue, 11th Floor, Miami FL 33131Phone: +1 (305) 913-7115 Noel Connolly, VP Sales
CellPoint [email protected] +971 – 50 - 948 - 5954
DenmarkArne Jacobsens Allé 7, 5th Floor, DK-2300 Copenhagen Phone: +45 70211512
United KingdomThe Broadgate Tower, Level 12, 20 Primrose StreetEC2A 2EW LondonPhone: +44 (0)2075962743
India8th Floor, Regus World Trade Center, Kharadi, PuneMaharashtra 411016
Singapore51 Changi Business Park Central 2The Signature level 04-05Singapore 4860669Phone: +65 6701 8558 +65 6701 8566
UAE34th Floor, Swiss Tower,Jumeirah Lakes Tower,Dubai, United Arab EmiratesPO Box 643718Phone: +971 4 561 3723Fax: +971 4 561 3799