disruptive innovation a presentation for ibf · 2015-09-18 · a presentation for ibf. agenda ......
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Disruptive Innovation A Presentation for IBF
AGENDA• Defining Innovation
• Why ? How ? to Innovate
• Sweet Spot
• Innovation Trends
• Innovation Matrix
• Disrupting Banking through Fintechs
• Big Data for Finance
Moughabghab Rami, MBABusiness Development Manager, FOOTech Enthusiast2 Years FOO6 Years Oil & Gas
Exponential GrowthAct Now!
How many paper folds does it take to reach the moon ? to reach the end of the universe?
This year Airbnb will become the largest hotel chain in the world (after launching in 2008), with more than 850,000 rooms, and without owning any
hotels.
In 2000, it took $5,000,000 to launch an Internet startup. Today the cost is less than $5,000.
Innovation is creative destruction, where entrepreneurscombine existing elements in new ways…
After Joseph Schumpeter (1883 – 1950)
A Definition
Source: Penker (2011)
The Framework
The WHY Question
What ?
Source: Loewe, Williamson and Wood (2001)
How?
Strategy& 2011 Annual Report
the most important factor that makes up an innovative culture is the corporate culture.
spending more on R&D won’t drive results, strategic alignment of a culture that supports innovation drives results
A Definition
The Sweet Spot !
SOURCE: McKinsey Global Institute analysis
• The potential scope of impact is broad The mobile Internet could affect how 5 billion people go about their lives
• Significant economic value could be affected Advanced robotics has the potential to affect $6.3 trillion in labor costs globally
• Economic impact is potentially disruptive Advanced oil and gas exploration and recovery could fuel economic growth and shift value across energy markets and regions
What defines Disruptive Innovations
SOURCE: McKinsey Global Institute analysis
The Twelve Disruptive Technologies
SOURCE: McKinsey Global Institute analysis
Impact of technologies on the economy
The Innovation Matrix
Innovative CompaniesBusiness Model
Technology
Uber $40 BlnAirbnb $13 BlnAli Baba $226 Bln
Tesla (Ellon Musk) $ 30 BlnApple iPod & iTunes $740 Bln
Radical & DisruptiveDisruptive
Radical
Low
Low
High
High
Gas-to-Liquid techIncremental
BMW
Digital Photography GoPro
Graphene
The Uber and Tesla Examples
• Uber has boasted of an “850%” increase in sign-ups because of London black-cab protests’.
• Uber’s Chinese branch in Guangzhou made international headlines when the Industrial and Commercial Bureau and Traffic Committee teamed up with local police to raid its offices on April 30.
• Uberpool - Taxi Service similar to Lebanon
The Uber and Tesla Examples
World Retail Bank 2015 report, Middle East had highest decrease in Consumer Experience IndexReason: Gen Y disappointment in Bank’s digital
capabilities
The World Retail Bank Report
THREAT OF FINTECHS• FinTech firms are making significant inroads into the banking sector and they have the potential to
disrupt the market
• IT companies have carved out a significant presence in the area of credit cards and payments.
• Customers are most comfortable with IT firms, significantly higher than the comfort level they have with banks.
• Threat from Internet/technology firms is not expected to materialise in the next 36 months, they are perceived to pose the highest future threat to the banks.
• The potential of the FinTech firms to disrupt the market comes from their agility and ability to leverage technology, derive insights from data, and develop simple and intuitive offerings.
SOURCE: World Retail Banking Report 2015
BANKING WITHOUT A BANK
SOURCE: World Retail Banking Report 2015
BANKING WITHOUT A BANK
SOURCE: World Retail Banking Report 2015
BANKING WITHOUT A BANK
SOURCE: World Retail Banking Report 2015
LATEST IN FINTECHS
Founded by former investment bankers Mario Hasanakos and Alex Badran, Piggy offers a prepaid debit card for 8-to-18-year-old children and a dedicated mobile app for all family members. This allows parents to monitor spending and communicate about transactions.
LATEST IN FINTECHS
With same day delivery and tighter spreads than current offerings, CurrencySpot will lead the market in changing the way customers think about their travel money. No need for long queues and excessive rates at the airport!
LATEST IN FINTECHS
Thank you!
Q & A
There are over 12 definitions
A new attitude by businesses that combining data from multiple sources could lead to better decisions.
What is Big Data?
Who?
Why?
Why?
BIG DATA SOURCES
SUCCESS OF OCBC • The Oversea-Chinese Banking Corporation (OCBC) analysed historic customer data to
determine individual customer preferences
• Event-based marketing strategy that focused on personalised marketing communications across multiple channels and touch points including email, call centres, branches, ATMs, direct mail, text messages and 3G mobile banking
• Double- and triple-digit percentage increases in key customer performance metrics
• OCBC achieved a positive return on investment (ROI) on its implementation within 18 months
• OCBC has experienced a 45 percent increase in overall conversion rates and 60 percent increase in cross-sales
• Campaign revenues have increased by more than 400 percent
•
FAILED CASE OF BIG DATA
SUCCESSFUL CASE OF BIG DATA
• Start Small
• Low IT impact and positive ROI
• Internal Data
• Web Data, Social Media, Government, Open data
• Short Implementation Cycles
BIG DATA BANKING IDEAS
• Diapers, Baby, School Loan
• Restaurant Bill increased, in Love, House Loan
• Transaction at ER, no insurance, Medical Cover
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