NOEL · NOEL NOEL . Title: Diapositive 1 Author: Illy, Margaux Created Date: 12/24/2015 9:45:21 AM
Jean Noel Georges - Global Programme Director - Frost & Sullivan
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Transcript of Jean Noel Georges - Global Programme Director - Frost & Sullivan
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March 23th 2017
The Way Fintech are Already Disrupting
the Financial Services Ecosystem
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Confidential to Finance Summit London 2017 2
The Need to Think Out of the BoxMost of industry leaders had to reinvent their mobile strategy
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Confidential to Finance Summit London 2017 3
Digital Disruption in Financial ServicesA new set of services and functionalities coupled with a strong demand
ONLY ONLINE BANKS
BITCOIN CRYPTOCURRENCY
PERSONALIZED
SERVICESUN-SERVICED
UNDERSERVICED
AUTOMATION
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Confidential to Finance Summit London 2017 4
Traditional Financial Services ApproachRestricted by accessibility, affordability and availability challenges
INCLUSIVITY
TIME TO MARKET
HIGH COSTS
LARGE ORGANIZATIONS
CUSTOMER EVOLUTIONLEGACY INFRASTRUCTURE
REGULATIONS/ COMPLIANCESILOED STRUCTURE
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Confidential to Finance Summit London 2017 5
Is Fintech the Perfect Answer to Drive the Market?Strong investments and a far west ecosystem
LENDING PAYMENT
COMPLIANCE
& REGULATION
REMITTANCE
WEALTH/ ASSET MANAGEMENT
INSURANCE
BANKING
INVESTORS
* This is an illustrative list Source: Frost & Sullivan
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Confidential to Finance Summit London 2017 6
Digital Banking: Technology Across Functions The way to enhance efficiency and effectiveness
FINTECH:
APPLICATIONS
ACROSS BANKING
FUNCTIONS,
EUROPE, 2016
DIGITAL
BANK
Sales: New Client
Acquisition
Marketing: New
Services & Products
Transactions:
Transfer / Withdrawal
Information: Receiving
and Sending
CRM: Interaction, Complaint
Resolution
• Online account opening
• Uploading documents online
• Smart contracts
• Authentication using mobile phone
• Relevant and customized products
and services suggestions
• Marketing messages on preferred
channels
• Online and mobile transfers
• Digital branches
• Secure environment
• Real time data/information
sharing
• Online account/status checking
• Chatbots
• Social Media
FUNCTIONS OUTCOMES
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Confidential to Finance Summit London 2017 7
Strong Authentication is Key for SuccessMobile services need to comply with security standards
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Confidential to Finance Summit London 2017 8
Big Data & Analytics a Nice Concept to Leverage MobileDerive smart insights from data to impact business outcomes
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Confidential to Finance Summit London 2017 9
AI & ML To Enhance Consumer ExperienceReduce costs, increase efficiency and enable fraud detection
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Confidential to Finance Summit London 2017 10
Payments Appear as the Most Exciting AreaPayments based on mobile is disrupting the existing market
FINTECH: USERS PERCEPTIONS AND ADOPTION TRENDS OF PAYMENT OPTIONS, EUROPE, 2016
41%47%SMARTPHONE OR TABLET USERS
THAT BANK ON-THE-GO IN EUROPE
SMARTPHONE OR TABLET USERS THAT
HAVE USED A MOBILE PAYMENT APP 33%40%
SMARTPHONE OR TABLET
USERS’ TRUSTED
PROVIDERS OF MOBILE
PAYMENT APPS84%
5%
11%
75%
11%
15%
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Confidential to Finance Summit London 2017 11
Business Models Impacts per TechnologiesA big change from global services to ultra personalization approach
• Challenger banks host customer
records and functions
• Banks able to provide payment
infrastructures to other companies
leveraging cloud
• Better product penetration and wider
customer base
• Enhances agility and responsiveness
• Lower risk and faster services to
customers
• Increases inclusiveness,
transactional safety and detection of
fraud
• New market sub-segments such as
payment of tuition fees connects
banks and students
• Decentralization of business model
• Role of intermediaries will reduce
• Innovations target specific areas such
as travel insurance
• Enable automated processes from
detection of damage up to payments.
• Catering to new market segments of
unbanked and uninsured
• Accessing peer-to-peer models
• Reaching out to consumers through
multiple channels with less
dependence on branches
CLOUD
COMPUTING
BIG DATA &
ANALYTICS
IOT
AI & ML
BLOCK
CHAIN
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Confidential to Finance Summit London 2017 12
What Next, What the Market is doing?The urgent need to be in the right train
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Confidential to Finance Summit London 2017 13
Jean-Noël Georges
Global Program Director
Frost & Sullivan
Direct : 06-27-61-21-39
Email : [email protected]