FSI alumni-aamiainen 28.8 - Deloitte United States · combined in one place, the organization can...

1© 2019 Deloitte Oy, Group of Companies.© 2019 Deloitte Oy, Group of Companies. 2

FSI alumni-aamiainen 28.8.2019

2© 2019 Deloitte Oy, Group of Companies.

Cloud banking: More than just a CIO conversation

Lisätietoja: Mikko Helin

https://www2.deloitte.com/fi/fi/pages/financial-services/articles/bank-2030-financial-services-cloud.html

mailto:[email protected]


Cloud is more than just a technology conversation. It isa topic that belongs on theagenda of executivemanagement and boards.

“The cloud” is more than a place or a destination for dataand applications to drivedown the cost of computingpower and storage or tocreate elasticity for variabledemand. It also is a platformfor enterprise business transformation—a potential game-changer for how banks and other financial services institutions (FSIs) will operate in the future.

Retail and wholesale banking industry leaders increasingly are focused on leveraging the cloud to drive innovation andnew capabilities, optimize theorganization, reduce infrastructure costs, and support improved business performance and shareholder returns.

Companies can be all-in on cloud strategy without moving 100 percent of workloads to the cloud. Banks will be deploying hybrid and multi-cloud models over the coming years to support their business and operating strategy and to address specific requirements.

Cloud is influencing key business and technology trends, leading to emerging use cases that solve for unique challenges.

Top takeaways

Cloud banking: More than just a CIO conversation


Cloud can be a catalyst for enterprisebusiness transformation; a potentialgame-changer for how FSIorganizations will operate in the future.

The bank of 2030 will look very different from today. Facing changing consumer expectations, emerging technologies, and alternative business models, banks need to start putting strategies in place now to help them prepare for this future. An important indicator of the shifting landscape? Cloud computing is moving to the forefront as a focus for the chief information officer, C-suite executives, and board members.

Banking and capital markets leaders increasingly recognize that cloud is more than a technology; it is a destination for banks and other financial services firms to store data and applications and access advanced software applications via the Internet.

The leading public cloud providers offer an array of innovative products-as-a-service that can be accessed on their platforms and help banks implement business and operating models to improve revenue generation, increase customer insights, contain costs, deliver market-relevant products quickly and efficiently, and help monetize enterprise data assets. The cloud also offers a huge opportunity to synchronize the enterprise; to break down operational and data silos across risk, finance, regulatory, customer support, and more. Once massive data sets are combined in one place, the organization can apply advanced analytics for integrated insights.

After years of focusing on the technology’s value as a cheaper, faster, and more “elastic” alternative to on-premise data storage, bank leaders are considering how they can leverage the cloud in three areas “above the line” to create new business frontiers and in three areas “below the line” to optimize the organization (see figure 1). Applying cloud technology in these six areas may help banks drive improved business performance and shareholder returns.

Embedded change moving towards 2030


“Above the line” – New business frontiers “Below the line” – Optimizing the organization

Synchronize the enterprise• Better integration of business units through sharing data, driving

integrated decisions, and moving more quickly to solve customer problems.

• Creating common, connected data sets; enabling deeper, more sophisticated insights and analytics; enhancing collaboration through new shared platforms and tools, and increasing speed of decisions.

Drive business innovation• Helping innovate and driving strategy to build new customer

experiences, create and market offers, optimize operations, and manage talent through leveraging tools such as machine learning, IoT platforms, AR and VR, image recognition, natural language processing, etc. Leveraging new tools and capabilities to increase revenue, cut costs, make operations more consistent, and retain personnel more effectively.

Unleash new talent and new ways of working• Aligning tech with business unit needs to benefit functions

requiring new talent and new ways of working.• Tech capabilities and solutions attract new workers and provide

access to ecosystems with new skill sets—DevOps, agile, UX, etc.• Impact is enabling process improvements such as automation or

human augmentation to improve productivity and create firm integration, resulting in agility, connectedness, and transparency.

Build resilient operations• Enhance companies’ overall resilience to respond more quickly—physical

outages, disruption, etc.• Moving from companies’ data center but gaining ability to replicate data and

app services across more than a single data center or region.

Enhance IT security• Cloud providers have extreme security standards—and have a track record.

Environments can be as secure or more secure than on-premises —but only when implemented correctly and with skilled and trained security.

Scale computing costs as needed• Helping organizations with the way they pay for tech—away from heavy up-

front capital spending and toward operational based.• Companies can respond more quickly to market shifts or changes in financial

priorities.• Capture cost efficiencies in dynamic cloud pricing by increasing or decreasing

computing capacity as needed and facilitating granular spending control.

Critical sources value enabled by cloud transformation


Global Risk Management Survey -Financial institutions on a spotlight

Lisätietoja: Kaarle Pohjavuori

https://www2.deloitte.com/fi/fi/pages/risk/articles/Global-risk-management-survey.html



About the survey

Global risk management survey, 11th edition - Financial institutions on a spotlight

Deloitte’s Global risk management survey, 11th edition, is the

latest edition in the ongoing survey series that assesses the

industry’s risk management practices and the challenges it

faces.

The survey gathered the views of CROs or their equivalents at

94 financial services institutions around the world.

Most survey participants are multinational institutions, with 72%

having operations outside their home country.


Key findings

Global risk management survey, 11th edition - Financial institutions on a spotlight

Continued growing importance of cybersecurity risk

Increasing focus on nonfinancial risks

Addressing risk data and IT systems is a top priority

The potential of digital risk management

Addressing the challenges in the three lines of defense risk governance model

Increasing reliance on stress testing

Stronger board oversight

Continued increase in the adoption of ERM

9© 2019 Deloitte Oy, Group of Companies.© 2019 Deloitte Oy, Group of Companies. 24

Deloitte & Helsinki Fintech Farm

Lisätietoja: Marko Hykkönen



Kumppanuus 10/2018 lähtienDeloitte – Helsinki Fintech Farm -yhteistyö

• Aiheita ja puhujia mm. Future Digital Finance Forumissa ja RegTech Day -teematapahtumassa

Tapahtumia

• Fintech Bootcamp• Fintech Community -kerho

Koulutusta

Ymmärrystä

• Fintech DB• Kyselytutkimus / Helsinki Fintech Guide• Fintech Community –kerho• Julkaisujen vaihtoa

Ideointia

• Säännöllistä ja avointa keskusteluaalan ajankohtaisista teemoista

• Ideariihiä sovituista aiheista

The Fintech Landscape and Supporting Ecosystem in Finland – Select Insights

FSI Alumni BreakfastAugust 28th, 2019

Hans RosendahlPartner, Strategy & Commercial Due DiligenceMobile +358 (0)40 552 7575E-mail [email protected]


01 Introduction


Project Background

Objectives

• Fact-based understanding• Fintech landscape• Supporting ecosystem

• Key recommendations

Schedule

• Project delivery 04-09/2019• White paper: 09/2019• Official publishing: 21.10

Approach

• Online survey (n=56)• Interviews (n=20+)• Strategic analysis


Analytical Framework

The Finnish Fintech Landscape – Key Facts and Figures

Number of companies and key characteristics

Key financial and other performance indicators

Growth ambition and key strategic choices

Position amongst Global Fintech hubs

Access to Risk Capital Access to Talent Collaboration Regulatory Environment

Examples • Private equity• Bank loans• Public loans & grants• EU e.g. guarantees• Crowd financing

Key questions• Targeted financing• Current instruments• Key challenges

Examples • Technology• Sales and marketing• Support functions• Seniority• Domestic / International

Key questions• Talent requirements• Talent attraction• Key challenges

Examples • Customers• Community collaboration• Corporate venturing• Incubators/accelerators• Commercial partners

Key questions• Collaboration mechanisms• Objectives and outcomes• Key challenges

Examples • PSD2• GDPR• MiFID II• PRIIPs• AML

Key questions• Understanding/familiarity• Business impact• Current readiness

The Supporting Ecosystem – Current State and Key Improvement Areas


The Fintech Landscape – Definitions and Sectors

Any digital financial service,regardless of whether the provider is an established

financial institution or a seed funded start-up.

Bro

ad

Recently founded start-up companies entering the financial market, seeking

growth rather than profitability, and building their business on

technology innovation.

Narro

w

Technology and/or businessmodel innovation that may be launched by established companies (FSI and other

industries) as well as start-ups.Co

mm

on

Fintech Definitions Fintech Sectors

Source: Business Insider Intelligence, company websites


Fintech Financing Globally

Global Europe

USA Asia

Sources: Business Insider Intelligence, CB Insights


Company Valuation (USD, billions) Country

US

India

US

US

US

Brazil

US

Sweden

UK

US

US

Germany

US

UK

US

10.0

3.5

3.5

4.0

8.0

5.6

22.5

4.5

3.0

3.0

2.9

2.7

2.7

2.3

2.0

Top 15 Fintech Unicorns with Valuation > USD 1 Billion

Sources: CB Insights


Global Fintech Hubs – The Future of Fintech is Emerging: New Hubs, New Landscapes

© 2019 Deloitte Oy, Group of Companies.


Finland has Strong Starting Premises for Becoming a Globally Recognized Fintech Hub

#1Soundest banks

Global competitive index 2018

#3Best financialsystem in Europe


#1Business Environment


#1Macroeconomic stability


#1Education system

The Legatum Prosperity Index™ 2018

#1Quality of governance

The Legatum Prosperity Index™ 2018

#3Digital Competitiveness

The Digital Economy and Society Index 2018

#1Strongest digital knowledge capital

Digital Economy and Society Index 2018

#16VC and PE country attractiveness

Research project 2018

#3Most innovativecountry

Innovation index 2018

#1Freedom in country

Freedom in the World 2018

#3Least corrupted country

Corruption Perceptions Index 2018

#9Best country to do business in

Business Environment Rankings

#13Internet penetration

#1Most stable country

The Fund for Peace


02 Select Insights


Pillar I – Access to Financing

Other contract terms

82%

60%

42%

42%

54%

59%

75%

74%

8%

27%

24%

15%

24%

24%

12%

13%

10%

13%

34%

42%

22%

16%

14%

13%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Lack of resources and administrative burden

Lack of instrument or application knowledge

Lack of personal contacts and relationships

Commercial terms

Lack of collateral

Lack of financial track record

Investor’s focus or expertise on Fintechs

Very low/Low (1-2) High/Very high (4-5)Intermediate (3)

Weighted average

1.9

2.3

2.8

2.9

2.4

2.4

2.0

2.0

Obstacles to Acquiring Financing


Pillar II – Access to Talent

48%

42%

55%

23%

13%

8%

18%

21%

10%

24%

24%

45%

27%

15%

21%

31%

87%

34%

21%

32%

60%

77%

61%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Headhunting

Employer branding e.g. Great Place to Work

Compensation and benefits

3%Personal relationships and word of mouth

Corporate culture e.g. working style and work-life-balance

Career development and learning opportunities

Collaboration with universities and student associations

Corporate mission and core values

Very low/Low (1-2) Intermediate (3) High/Very high (4-5)

Weighted average

2.3

3.4

2.4

2.3

2.9

3.2

3.3

3.0

Primary Ways of Attracting Talent


Pillar II – Access to Talent

TotalFinancialservices

Nordics

1 Learning 86% 89% 89%

2 Human experience 84% 86% 86%

3 Leadership 80% 81% 81%

4 Talent mobility 76% 80% 74%

5 HR cloud 74% 79% 68%

6 Talent access 70% 75% 71%

7 Rewards 69% 72% 54%

8 Superjobs 66% 68% 55%

9 Teams 65% 71% 63%

10 Alternative workforce 41% 38% 28%

Source: Deloitte Global Human Capital Trends Survey, 2019

HR Professional’s Views on Critical Success Factors (12-18 mths)Ambitions and key Concerns of Finnish Millenials

Source: Deloitte Global Millenial Survey 2019 - Finland


Pillar III – Collaboration

Rationale and rate of Collaboration

Key reason forcollaboration

Collaboration partners

Universities & research institutions

Public sector organizations

Incubators & accelerators

Commercial service

providers

Business partners

Customers

Insight, strategy & business planning

22.6% 25.0% 35.3% 23.3% 23.1% 26.1%

Research &development

40.3% 19.0% 5.9% 10.3% 19.7% 15.9%

Commericalization & business scaling

1.6% 31.0% 39.7% 37.1% 35.9% 39.8%

Intellectual property right protection

0.0% 4.8% 0.0% 19.0% 1.7% 1.1%

Learning & capability development

35.5% 20.2% 19.1% 10.3% 19.7% 17.0%

50% 76% 42% 74% 86% 39%Fintechs with collaboration experience (%)


Pillar IV – Regulatory environment

PSD2 GDPR MiFID II PRIIPs DAC 6 AML AVCP

Payment ServicesDirective

General DataProtection Regulation

Markets in Financial

Instruments Directive

Packaged Retail and Insurance-

based Investment Products

Directive on Administrative

Cooperation in the Field of Taxation

Anti-Money Laundering Directive

Act on Virtual Currency

Providers

Familiarity with regulation

3.82 4.40 3.10 2.27 2.07 3.75 2.04

Business impact

3.71 4.13 3.03 2.15 2.22 3.68 1.90

Organizationalreadiness

3.67 4.35 2.92 2.31 2.21 3.79 1.89

1 = Very low 2 = Low 3 = Intermediate 4 = High 5 = Very high

Familiarity, Impact and Readiness


03 Working with Deloitte


Deloitte at Your Service - Strategy & Commercial Due Diligence (S&CDD)

Strategic Planning & Analysis

We help our clients craft pragmatic, fact-based

and innovative strategies and implement them

effectively to for superior shareholder returns.

• Corporate strategy

• Business strategy

• Funtional/capability strategy e.g. digital

• Independent analyses and reviews

• Analytics and data visualization

Mergers & Acquisitions

We help our clients identify, capture and create

value throughout the M&A life-cycle with tailored

strategic analysis and proprietary insights.

• M&A Strategy

• Target identification and screening

• Commercial due diligence

• Information memorandums

• Value creation plans e.g. F100D

Value Creation

We help our clients identify and pragmatically

capture high-impact value creation opportunities

concerning growth, costs and cash flows.

• Disruptive (growth) strategy

• Business/operating model innovation

• Top-line growth

• Venturing, partnerships and ecosystems

• Turnaround and restructuring

Global Reach and Community

Collaborative Working Style

Proprietary Insights

Holistic Capabilities

Driven by Data and Analytics

Experienced Team

Pragmatic & Tailored Approach


Thank You!

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms.

In Finland, Deloitte Oy is the Finnish affiliate of Deloitte NSE LLP, a member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), and services are provided by Deloitte Oy and its subsidiaries. In Finland Deloitte is among the nation’s leading professional services firms, providing audit, tax, risk advisory, legal, consulting, and financial advisory services through 550 people in 3 cities. Known as an employer of choice for innovative human resources programs, Deloitte is dedicated to helping its clients and its people excel. For more information, please visit our website at www.deloitte.fi.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or their related entities (collectively, the “Deloitte Network”) is, by means of this communication, rendering professional advice or services. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication.

© 2019 Deloitte Oy, Group of Companies

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