20151210 presentatie 'being agile in a fintech world
TRANSCRIPT
Pascal Spelier, 11 december 2015
Being Agile in a FinTech World
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The Golden Circle: Start with WHY
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Three drivers for change
Changingcustomer behaviour
New technology
Changingregulations &
legislation
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The customer wants changeLack of trust has changed the relationship between Insurers, banks and customer
The credit crisis changed the purchase drivers
Traditional banking & insurance customer is shifting to A new generation banking & insurance customer
Customers demand transparency and simplicity
Customers become more and more self-directed
Social medial create a fundamental shift in the way we communicate
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Technology creates new opportunities28 years ago, introduction of internet
13 years ago, introduction of social media
8 years ago, introduction of smartphones
Big data
Quantified self
Internet of things
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Regulatory challengesBasel III
Solvency II
Payment Service Directive 2
Local regulations & legislation
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Source: Clayton Christensen (Harvard)
Performance
Time
Performance improvementmainstream
Potentially disruptive technology
Disruptive technologies move up market and eventually displace competitors
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Source: Clayton Christensen (Harvard)
Performance
Time
Disruptive technologies move up market and eventually displace competitors
Dvd per mail
Digital movies
Digital series via Ps3/4, Xbox, tablet
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Rethink your business model
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New generation settingnew standards for banking
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New generation setting new standards for banking
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Customer Distribution / Front Office
Manufacturing / Back Office Market Infrastructure
Individual
Institution
Inve
sting
/W
ealth
Mgm
ntPe
rson
al
Savi
ngs
Lend
ing
Capi
tal
Raisi
ng
Source: based on illustration ‘Financial Services Value Chain Supermarket Age’ by Doug Nelson
Paym
ents
= flow of capital
Current value chain is under pressure…
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Customer Distribution / Front Office
Manufacturing / Back Office Market Infrastructure
Individual
Institution
Inve
sting
/W
ealth
Mgm
ntPe
rson
al
Savi
ngs
Lend
ing
Capi
tal
Raisi
ng
Source: based on illustration ‘Financial Services Value Chain Next Gen’ by Doug Nelson
Paym
ents
…Financial services unbundled and revisited
Independent, digital front ends API-driven middle- and back office
Electrification of market infrastructure
Independent , digital front ends and middle- and back office
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It is not the strongest of the species that survives,
nor the most intelligent that survives.
It is the one that is the most adaptable to
change.- Darwin -
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“We must learn whatcustomers really want, not what they say theywant or what we thinkthey should want.”EricRies– TheLean Startup
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Bent u de tanker of het loodsbootje?
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Bent u de tanker of het loodsbootje?
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“Plans are worthless, but planning is everything”DwightD.Eisenhower,34ePresidentvandeVS
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Functions of Financial Services
11 Clusters of Innovation
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New payment services will result in changingcustomer behaviour andcryptocurrenciesmay radically streamlinethe transfer of value
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140,8 miljard debet card transacties
62,7 miljard credit card transacties
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Pay Pay
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Wat doet ABN AMRO als Apple Pay naar Nederland komt?
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Al kennis gemaakt met de Bunq experience?
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Disruption in banking will be most imminent;
but the greatest impact of disruption is likely
to be felt in theinsurance sector
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Delenis het nieuwe bezit
32Credits:YvonneKroese
Meten is wetenQuantified Self
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Internet of thingsVan zelf naar vanzelf
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New lending platforms are
transforming credit evaluation and
loan origination
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Mensen organiseren zich buiten de instituten om: desintermediatie
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41Source: LendingClub, Third Quarter 2015 Results October 29, 2015
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Goldman Sachs predicts that it’s going
to eat 7% of bank profits from the
credit markets over the next five years
and 14% over the next ten years!
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“Mortgages andsubordinated loans are pre-eminently suitable
instruments for investorsthat want to optimize
their bond portfolio”Eric van der Maarel,
Head of Aegon Asset Management Europe
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MUNT Mortgages invests pension money directly into the mortgage market
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FinTech startup Jungo brings crowdlendingto the Dutch mortgage market
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Interest%
Mortgagesaccording to*:
80%institutional investors
interest %Se
nior
mor
tgag
eco
llate
ral Junior m
ortgagecollateral
20% crowdlenders
* example, interest levels are indicative
Jungo combines institutional funding withcrowdlending
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bijBouwe provides online mortgages withinstitutional investors funding
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Crowdfundingplatforms are widening access to capital and create a venue for investors looking for a
interesting financial return
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Robo-advisors are improving accessibilityto sophisticatedfinancial management and creating marginpressure, forcing traditional advisors to evolve
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Eersteonlinebeleggings-coach van Nederland
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Smarter andfaster machinestransform capitalmarkets
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Customer Distribution / Front Office
Manufacturing / Back Office Market Infrastructure
Individual
Institution
Inve
sting
/W
ealth
Mgm
ntPe
rson
al
Savi
ngs
Lend
ing
Capi
tal
Raisi
ng
Source: based on illustration ‘Financial Services Value Chain Next Gen’ by Doug Nelson
Paym
ents
…Fight those FinTech Startups or join them?
Independent, digital front ends API-driven middle- and back office
Electrification of market infrastructure
Independent , digital front ends and middle- and back office
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“BBVA wants to promote an open and collaborativeculture between the bank and the community of developers to enablethem to participate in our creative and innovation process” Marco Bressan, Open Platform manager at BBVA
“Fintech start-ups are often agile, lean and nimble. There are obvious advantages for RBS to partner with some of these
firms. That’s where the APIs come in.”
James Lynn, head of e-channels, GTS at RBS
“We wanted to provide the developer community a platform that will allow them to invent tomorrow's banking applications, which are both innovative and practical everyday for ourcustomers."Pierre Janin , CEO of AXA Bank
Banks need to open up!
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Banken moeten de ‘agility’ van startups
adopteren
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Bron:
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Bron:
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Bron:
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Bron:
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Wat echt een enorme verbetering is, is de
openheid en het begrip dat we voor elkaar
hebben.
Squads en medewerkers kunnen nu, meer dan
voorheen, echt zien wat zij bijdragen aan de strategie
van de bank.
Wij zijn nu zo’n drie maanden in dit model onderweg en het geeft
nu al voordelen door kortere lijnen en meer mandaat bij de
medewerkers en squads.
Het heeft ook het plezier in het werk, vergroot. De sfeer is
erg goed!
Bron:[finno]
Waar we in de pre-Agile tijd tussen afdelingen soms dagen
bezig waren om een simpel issue op te lossen, doen we dat
nu in 15 minuten.
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PascalSpelierChiefInspiration OfficerBanking&Insurance
Reykjavikplein 1,Utrecht,TheNetherlands
Mobile:+31(0)[email protected]
Thank you!@spelier
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