the fintech moment
Post on 12-Apr-2017
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The FinTech MomentSeparating the Signals From the Noise
September 2016Guruprasad GaonkarFinancial Services Industry Leader, SAP
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
AGENDA
Digital Experience Report Thailand
Innovation Examples
Technology Imperatives
The Fintech Moment
Digital Experience Report Thailand
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
53%DELIGHTED
16%UNSATISFIED THAILAND DX
37%
74%NPS
-63%NPS
77%LOYAL
10%LOYAL
THERE IS A POSITIVE DIGITAL EXPERIENCE (DX) SCORE IN THAILAND
TOP 3 DX ATTRIBUTES THAT MATTER TO THAI CONSUMERS
Digital Gap
Gap Matters
CUSTOMERS WILL DISCLOSE INFORMATION IF DELIGHTED
51% Personal ProfileHealth or Medical RecordsPersonal Finances
47%47%
SecureIs safe and secure
AvailableAvailable anytime on my terms
SimpleFits in with my life and is effortless
47%47%46%
Thai Digital Experience Research Findings
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
ALL RESPONDENTS HAD SOME KIND OF DIGITAL
EXPERIENCE WITH ATLEAST ONE OF THESE INDUSTRIES:
QUESTIONNAIRE COVERAGE
SATISFACTION WITH DIGITAL EXPERIENCE (GENERAL)
SATISFACTION WITH DIGITAL EXPERIENCE (BY INDUSTRY)
SATISFACTION WITH DIGITAL EXPERIENCE FOR INDIVIDUAL COMPANIES
NET PROMOTER SCORE®(NPS®)
LOYALTY
FINANCIAL SERVICES
TELECOMMUNICATIONS
CONSUMER RETAIL
UTILITIES
Methodology, ResultsTop Brands In Thailand
Male 51%Female 49%
18 - 24 years 14%25 - 29 years 9%30 - 34 years 10%35 - 39 years 11%40 - 44 years 10%45 - 49 years 10%50 - 54 years 9%55 - 59 years 8%
60+ years 19%
Only Two Financial Services Organizations Among The Top 10 Brands In Thailand
The FinTech Moment
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Thailand’s Digital Economy
Source: Temasek & Google; Bain & Co; ITU; Thailand’s Telecom Market; eMarketer
41 million Internet Users
40 millionSocial Network Users
84.8 millionMobile Subscribers
23 millionDigital Consumers
USD 0.9 billionE-Commerce Market
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Historical Moats Surrounding Financial Services Industry Are Not Different
Special status of being regulated institutions that supply credit, the lifeblood of economic growth
Have sovereign insurance for their liabilities (deposits)
Ubiquitous distribution through branches,
BUT,
Unique expertise such as credit underwriting underpinned both by data and judgment,
Consumer Inertia
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Financial Technology Companies Are Everywhere
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Digital Divide of The Balance Sheet
Origination and Sales - the focus `of non-bank attackers – account
for about 60% of your profits
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Dismiss The Noise or Panic And Overact?
Financial Services organizations should be less preoccupied with individual FinTech attackers and more focused on what these attackers represent –and build or buy the capabilities that matter for a digital future.
© 2016 SAP SE or an SAP affiliate company. All rights reserved. 11Confidential
Innovation Examples
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Suppliers& Networks
CustomerExperience
WorkforceEngagement
loT& Big DataSecurity
Digital Core
Digital Business FrameworkHolistic Approach to Digital Innovation
Digital Business strategy needs to take into accounts 5 pillars of digitization:
Customer Experience
Core Business Processes
Supplier Collaboration
Workforce Engagement
Machine Data and Big Data
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Customer ExperienceRoboAdvsior Chat and Voice Bot
Use of Artificial intelligence, natural language processing, voice recognition John is a millennial on the move, and wants his virtual banking assistant to perform mundane banking tasks like checking bank balance, doing payments etc. His chat and voice bot recognizes the voice / written text and carries out these basic banking services for him.
The chat Bot tells him his balance and on his instructions transfers money to his family members account. If the details of the account are not there, Chat will intelligently ask him about the account details.
The virtual banking assistant even suggests savings plan / recurring deposit and fixed deposit for the surplus money in his account
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Digital CoreWorld’s First Real Time Payment From Canada to Germany Using Blockchain Technology
B&P plat-form
SAP Payment Engine
SAP HANA Cloud
Platform
SAP Splash/
Mobile UI
Ripple Connect/ Gateway
MT 103
Ripple Console
1.. 2.. 3.. .. .. .. 20Sec
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Machine Learning & Big DataPredicting Customer Churn for proactive Customer Retention
John has realized that a large number of customers have left the bank recently.
He logs into “Customer Retention Insights” and notices that the churn ratio is expected to increase dramatically in the next 3 months. He wonders what will cause the high increase of churn ratio. He identifies the top reason as frequent ATM problems. He asks his assistant Robert to identify the top “at risk” customers.
Robert identifies a worklist of the top 100 customers who are most likely to leave the bank. He asks Sarah to call up the customers and find ways to retain them.
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
IoTSmart Insurance
� Connect to Weather reports to identify probable natural disaster
� IoT Platform calculates the probable cost of insurance claims
� Dashboard is updated and notifications including alarms are fired� Push notifications are also sent to customers to prepare for natural disaster
Trigger underwriting risk review of New policy creations coming from affected areas
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Workforce EngagementSmart Recruiting
Technology Imperatives
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
Suppliers& Networks
CustomerExperience
WorkforceEngagement
loT& Big DataSecurity
Digital Core
Digital Business FrameworkHolistic Approach to Digital Innovation
Digital Business strategy needs to take into accounts 5 pillars of digitization:
Customer Experience
Core Business Processes
Supplier Collaboration
Workforce Engagement
Machine Data and Big Data
This Simple Framework Is Helping Many Companies Develop A Pragmatic Approach To Developing A Digital Strategy.
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
PlatformHANA Platform
VORA
any DB Hadoop
SAP HANA Cloud Platform Enabling Fintech Collaboration
HANA Cloud Platform
(Micro-) Services
IoTPlatform
IoTBusiness Network
Analytics
C4A
Applications Extensions 100,000+ Developers (including partner ecosystem) producing more than 1000 enterprise applications today on the SAP HANA cloud platform. So more of these co-innovations can come from ecosystem external to your organization in the Digital Economy.
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
SAP For Financial Services Industry
19,000+ Financial Services Customers
120 Countries
180+ Core Banking
100M + Live Bank Accounts (+75M in implementation)
200+ Mobile and / or Internet Banking
45% of Capital Markets Front and Middles Offices
300+ Core Insurance
400M+ Claims Handled
1,000+ Database
160+ Cloud
More than 2, 700 SAP FSI customers in APJ
Thank You Guruprasad GaonkarFinancial Services Industry LeaderSAP South East Asia
g.gaonkar@sap.comLinkedin: http://sg.linkedin.com/in/ggaonkarTwitter: @iGuruGaonkar
www.sap.com/dxr/Join the conversation #seadxr
© 2016 SAP SE or an SAP affiliate company. All rights reserved. ‹#›Confidential
© 2016 SAP SE or an SAP affiliate company. All rights reserved.
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