beyond the everyday bank
TRANSCRIPT
GAFA Banking > Business
Winning the consumer-to-business revolution triggered by Google, Apple, Facebook and Amazon
Everything starts with the evolving consumer agenda
2Copyright © 2016 Accenture All rights reserved.
ALWAYS CONNECTED
connected devices per person in 2020 (~33B connected devices globally in 2020)
~4.5
Source: Accenture, IoT Business Overview, 2015
EXPECTS BUSINESSES TO COMPENSATE FOR ENDORSEMENT
57%
MOBILE-ORIENTED79%
CONTRIBUTES TO BRAND PERCEPTION25%
PARTICIPATES AND HAS A VOICE80%
INFLUENCES OTHERS’ PURCHASING DECISIONS20%
SOCIALLY-CONNECTED30%
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“Consumer-to-Business” (C2B) models are emerging
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Living Services System(omni-device: mobile, home, vehicle, health)
• Consumer driven
• Open platform
• Contextual & real-time engagement
• Customer-centered journeys
• Co-creation and reviews
• Expect businesses to compensate for endorsement
Apple
Amazon
Alibaba
Airbnb
Expedia
OnDeck
Moven
…
Content generation
Reviews
Facebook likes
Blogs
Co-creation
Comparison sites
Input from IoT devices
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GAFA are leaders in C2B business and set market standards in terms of customer engagement
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…
My Shopping
My Money
My Entertainment
My Travel
My House
My Health
Notes: 1. Google search share in July 2015; 2. iOS Traffic Share in Q1 2015; 3. Data referred on U.S. Market for August 2015;. 4. Bloomberg estimate for 2016; 5. Data referred on 2014Source: Opera Mediaworks Website, 2015; Bloomberg Business website, 2013; Statista website, 2015; Bloomberg Business website, 2014
90%Share of
searches1
Google Wallet
Google Play
YouTube
Google Maps
Google Fit
Nest
22%Share of
smartphone web traffic2
Apple Pay
Apple
Apple Store
iTunes
Apple iCar
HealthKit
Apple TVApple Store
45%Share of social
media3
Payments in Messenger
Facebook Buy
Oculus Rift
Moves
Parse
23%Share of
worldwide e-commerce
market4
Amazon Payments
Amazon
Amazon Kindle
Amazon Marketplace
Amazon Home Services
Amazon.com
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Banks need to move fast
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Which company do you trust the most with securely managing your data on your behalf?
If these companies offered banking services, how likely would you be to bank with them?(Likely or very likely)
Source: Accenture, “Banking shaped by Customer”, 2015; Accenture “The Digital Disruption in Banking”, 2014
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Banks need to focus on 4 key decisions
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• Strategic Direction• Digital Agenda Design• Digital Governance
Set Up• Digital Execution
Execute the DIGITAL
AGENDA• Digital Culture• Liquid Customer
Engagement and CRM• Digital IT Architecture• E2E Process Digitization
AddressKEY
ENABLERS• Digitally Powered Financial
Propositions (Physical + Digital)
• Experiential Living Services propositions
• New Businesses
Compete across a PORTFOLIO OF BUSINESSES
• Relationship Player• Platform Provider• “Core FS”
Utility/Manufacturer• Digital ID Enabler• Innovation Playmaker
Understand the PORTFOLIO OF
ROLES
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Relationship PlayerOwn the relationship with the customer, building innovative personas to drive fulfilling experiences
Platform ProviderOpen platform for sellers, buyers and content providers to interact, using strong C2B behaviors (ratings, review, affiliate schemes in place)
Core FS Utility/ManufacturerPackage and provide FS externally to others, through a utility approach – high volume, low cost, industrialized
Digital ID EnablerProvide authentication of Digital ID (for 3rd parties, nationally) and safe-guarding privacy
Innovation PlaymakerEngender innovation across multiple non-exclusive plays: Innovator, Incubator, VC, FinTech
Understand the PORTFOLIO OF ROLES where multiple, non-exclusive roles exist
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MovenSimpleFidor BankLending Club
TransferWiseAmazonUberKickstarter
PaypalFirst Ripple
AlipayGoogle FacebookApple
Andreessen HorowitzAngelListCitiVenturesBBVA Ventures
Typical systemic/ universal bank
Highintensity
Highintensity
Highintensity
Highintensity
Highintensity
Highintensity
Highintensity
Mediumintensity
Mediumintensity
Lowintensity
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Compete across a PORTFOLIO OF BUSINESSES to be relevant in Customers’ lives and develop new revenue streams
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GAFA Banking > Business
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Address KEY ENABLERS
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Digital Leadership – diffused, savvy, high DQ, experimentalNew Roles – data scientist, behavioral psychologist, story-tellers, scrum masterNew Skills – community management, social media & content management, customer experience design, ecosystem management, agile development
Customer Insight leveraging the data lake, mind-set segmentationMarketing Automation delivering seamless contextualized interactionsCustomer Interactions in the extended ecosystem
Liquid highly decoupled, granular components created/ customized in agile wayIntelligent embedding robotics & cognitive computingConnected API-drivenSmart distributed consensus ledgers & smart contracts for
real-time low-cost transactions
Visible + InvisibleDigital from end-to-endMinimal manual intervention Real-time response, and repostingRobotic processing Reduced cycle-time
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Execute the DIGITAL AGENDA
APPROACH KEY PRINCIPLES
Digital Execution
Digital Governance Set-up
Digital Agenda Design
Stra
tegi
c D
irect
ion
Digital Agenda priorities and targets
Digital Culture
Business objectives aligned with key levers
Speed of execution
E2E process transformation
Digital performance management
Enabled technology platform
Governance set-up
11Copyright © 2016 Accenture All rights reserved.
Learn moreabout how a GAFA approach to digital banking transformation will
change everything.
Beyond the Everyday Bank