Maximizing value in the digital ecosystem
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SunTec Confidential Max Speur Chief Operating Officer SunTec Business Solutions Maximizing value in the digital ecosystem – A perspective
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Transcript of Maximizing value in the digital ecosystem
SunTec Confidential
Max Speur
Chief Operating Officer
SunTec Business Solutions
Maximizing value in the digital ecosystem – A perspective
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SunTec Confidential
Customers today require financial servicesHowever not necessarily from traditional banks and bank networks
Bill Gates @ Sibos 2014-
“Competition already exists. Players are innovating to provide a
better, cheaper, faster service; and if these traditional leaders
don’t start considering their role in this space, they’ll lose
market share to upstarts”
INNOVATIVE
AGILE
Jamie Dimon-CEO, JP Morgan
“Silicon Valley is coming…......
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SunTec Confidential
Lending Payments Supply
Chain
Security Financial
Advice
FinTechs and Telcos are redefining the rules of the game!!Entrants are competing with the banks head-on
“12000+ Fintech startups in market today
– McKinsey”
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SunTec Confidential
Customers today are digitally nativeDigital banking has become the most important channel for delivering financial services
Ericsson:
By 2020, 80% of the mobile data traffic will be from
smartphones
Acuity Market Intelligence:
By 2020, 100% of the smart phone devices will include
embedded biometric sensors as a standard feature
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SunTec Confidential
Traditional banking is dying slowlyThe time to act is now!!
McKinsey - >80% of corporate banks
believe digital attackers will be a
meaningful threat to their business
Aite Group research – 65% of
corporates feel that their financial
institutions do not understand their
needs
Accenture Research – Only 28% of the
banks have a comprehensive strategy
in place for digital and innovation
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SunTec Confidential
Corporate banks are lagging behind in their digital transformationTheir retail counterparts are far ahead!!!
Gartner – Estimated overall failure rate
of digital transformation projects is at
least 50% and will reach 70% by the
end of 2017
EY Global Commercial Banking Survey
2014 – Nearly one in five companies
reports having changed its primary
bank in the past year
BCG survey on corporate clients -
More than 70% indicated that digital
capabilities were an important factor in
assessing a corporate bank
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SunTec Confidential
Maximizing value in the digital ecosystem – A perspectiveBanks need to think beyond payment transactions and innovate to add value across
the customer lifecycle
Customer insights
Intelligent offers
Omnichannel orchestration
