Next Bank Americas: Shift Happens

INSPIRED TO HELP YOU SUCCEED 1 INSPIRED TO HELP YOU SUCCEED 1 © 2014 Carlisle & Gallagher Consulting Group. Proprietary and Confidential.

Sh*ft Happens

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

In the spring of 2006 my wife & I were at the Atlanta International airport along with our 3 yr old daughter, 6 month old son, 12 bags of luggage, a diaper bag, & a stroller. We were about to begin a 4.5 yr expat stint

in York, UK. We flew to Manchester, UK where we somehow managed to drag all of our luggage & kids through the airport, loaded them on to a train that then took us to York. After a days worth of travel &

exhaustion we finally arrived in York & I went to collect the rental car I had booked a month prior thanks to all my meticulous planning.

It is at this point that all hell broke loose.


Waah! Waah! Waah!

@sammaule

@InspiredByCG

#ShIftHappens

This is the car I had booked. A Nissan Micra. We quickly realized we might have a problem fitting all us and our belongs into this vehicle. My incredibly tired family began to let me know their thoughts. To

escape the noise I opened the car door & sat in the drivers seat to think.

It was at this point that all hell really let loose.


@sammaule

@InspiredByCG

#ShIftHappens

Sh*ft!!!

This is the phrase I repeatedly shouted out as I banged my head against the dashboard.


@sammaule

@InspiredByCG

#ShIftHappens

I realized the steering wheel had shifted to the right. As had the gas & brake pedal. And to my horror, I realized I had rented a stick shift.

I learned a life lesson that day. No matter how much you plan, conduct customer research, write business

plans, draft PowerPoint decks…


Sh*ft Happens

@sammaule

@InspiredByCG

#ShIftHappens


A radical and

pervasive change in

society and the social

structure, especially

one made suddenly.

@sammaule

@InspiredByCG

#ShIftHappens

Globally we are living through a digital revolution with respect to financial services.


@sammaule

@InspiredByCG

#ShIftHappens


"Hmm, @fredwilson

thinks that financials

services disruption

is the next huge

market to be taken.”

@jhersco

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

As of Oct 16th the number of payment startup companies had risen to 1,440.


Sh*ft

Storm

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

Sh*ft just got real…


@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

Head of Visa Products – “We design everything around ‘the flick’”.


10% of all the deposits “are

now done through mobile

devices as people carry a

branch in their pocket.” -BAC CEO Feb 2014

@sammaule

@InspiredByCG

#ShIftHappens


“When I go to Silicon Valley…they all want to eat our lunch. Every

single one of them is going to try.” JPMC CEO Jamie Dimon

Why can’t the relationship between startups & Banking be not eating each other’s lunch; instead, one of which both are sitting at the same table sharing lunch & looking how to work together.

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

The State of Digital Wallets 2014 – still evolving…


@sammaule

@InspiredByCG

#ShIftHappens

Digital Wallets, for the most part in the U.S., haven’t inspired consumer acceptance.

http://imgur.com/9VtADyb


11% of Americans have

tried mobile wallets

Forrester Research

91% of mobile phones

are within hands

reach 100% of

the time

IBM

2% of all transaction are

conducted on mobile

Forrester Research

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

"Digital wallets, at this point in time, are a solution looking

for problems.” Sucharita Mulpuru, Forrester


‘‘The digital wallet is the linchpin for everything we do, but it’s

interesting, because consumers aren’t asking for them.’’

Evan Hill Ferguson, PayPal Chief Product Officer

@sammaule

@InspiredByCG

#ShIftHappens


Product focus saturation… the ‘Squirrel Effect’.


World

of Sh*ft

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

INSPIRED TO HELP YOU SUCCEED 26 INSPIRED TO HELP YOU SUCCEED 26 © 2014 Carlisle & Gallagher Consulting Group. Proprietary and Confidential. INSPIRED TO HELP YOU SUCCEED 26 INSPIRED TO HELP YOU SUCCEED 26 © 2014 Carlisle & Gallagher Consulting Group. Proprietary and Confidential.

Wearables 2014: Think ‘Evolution’ not ‘revolution’

Still working on identifying true use cases for financial services.

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

“Google Glass is so futuristic it’s like wearing a Segway on your face.”

“Google Glass is so futuristic it’s like wearing a Segway on your face.” @mattnovak


"The blend of

physical/digital isn't

Oculus Rift - it's people

using devices in-store

while they consider

products.”

@dchestnut

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

Beacons: The gateway drug for the Internet of Everything


@sammaule

@InspiredByCG

#ShIftHappens


Sh*ft hits

the fan

@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens


@sammaule

@InspiredByCG

#ShIftHappens

The leading cause of data breaches… humans.


@sammaule

@InspiredByCG

#ShIftHappens

Biometrics as a component of 2nd & even 3rd factor authentication will continue to become more and more common place.

The username and password must die.


@sammaule

@InspiredByCG

#ShIftHappens

Each of us is unique. Our fingerprint, iris, voice, odor, heart beat, vein patterns, facial features, walking gait, typing patterns, etc. are all unique and will continue to drive data security innovation.


Mobility

Connectivity

Security

@sammaule

@InspiredByCG

#ShIftHappens


?

@sammaule

@InspiredByCG

#ShIftHappens

ApplePay is finally here. Does this mean mobile payments, connectivity, and security questions are all answered? Of course not.

But it is a welcome addition.


@sammaule

@InspiredByCG

#ShIftHappens

Worth a

Sh*ft Lessons from Apple – do your homework & understand if it is worth the capital expenditure to invest.

Does the solution align with your company DNA & does it address consumer needs. Apple is hardly ever the first in with a product. But when they do join in, magic typically happens.


@sammaule

@InspiredByCG

#ShIftHappens

Know your

Sh*ft

Understand the marketplace for your products, know your competition. And you must, must, must be passionate about your own product.


@sammaule

@InspiredByCG

#ShIftHappens

In 2010 my wife & I stood at the York, UK train station with our 8 year old daughter, 4.5 year old son, 1 bag of luggage (we learned out lesson) as we prepared to head back to the U.S. We took the train to the

airport, leisurely flew home & I went to collect the rental car my sister-in-law had reserved for us.


@sammaule

@InspiredByCG

#ShIftHappens

This is a Ford Expedition, V8, Hemi engine. It is a beast. A tank.

I was terrified of driving this thing as I had spent the last 4.5 years driving small cars on the other side of the road…


@sammaule

@InspiredByCG

#ShIftHappens

Sh*ft Happened

The question isn’t “are you ready”? If you have to ask yourself this it is already to late.

The question is “how quickly can you shift, can you pivot? Can you do it yourself – most likely no.

The age of collaboration between start ups & banking is upon us.


@sammaule

@InspiredByCG

#ShIftHappens

“Even if you are on the

right track you will still

get run over if you don’t

keep moving.”

Will Rodgers

@sammaule

@InspiredByCG

#ShIftHappens

I would love to discuss further. Follow me on Twitter, reach out to me on LinkedIn, and have a cup of coffee with the team at Carlisle & Gallagher. We look forward to the conversation.

Next Bank Americas: Shift Happens

Economy & Finance

Transcript of Next Bank Americas: Shift Happens