day 1 gezahegn dugassa - awash bank - banking beyond the bricks
TRANSCRIPT
Gezahegn Leta , Awash International Bank S.C.
Addis Ababa , Ethiopia ,April 14, 2015
Beyond the Bricks
13th Innovation Africa Digital Summit Victoria Falls, Zimbabwe
Technology Trends (2014 -2016)
Disruptors Enablers
CIO as a VC Technical Debt Reversal Cognitive Analytics Social ActivationIndustrialized crowd sourcing Cloud OrchestrationDigital Engagement In memory revolutionWearables Real Time Dev in ops
Are you ready for the Revolution?
mCommerce , mPayments , mWallets through Mobile Apps , USSD , SMS
203 Million NFC enabled Phones available currently
670 B USD in purchases using Mobile Technology
Immense opportunities for Retailers , Financial Institutions , Technology Solution and Service Providers, Telecom
• Customers want to transact wherever and whenever they like
• Customers use digital channels more and more - for their purchases and social interactions
• Banks need to reduce operating costs – and channel migration remains a key enabler
Digital Channels matter more than ever
The Opportunity for Banks is immense (cost reduction , increased sales , customer retention)
• 70% of the world population does not have a Bank account, most of them have a mobile phone ; turn into a Bank/virtual account
• They don’t swing by the branch to chat about their hobbies
• They won’t spend time filling in forms without some incentive
• They will tell you for free
– Via social media
– Using personal financial planning tools
– If you show them how it could help them
But how can you really know your customer in a digital world?
Challenges
New and existing big players - Every one is a Bank, Branches are residual Channels (google wallet , Apple , Amazon, PayPal,
Facebbok , …
Shadow Banks - Telco , Internet Providers, C
Recommendation
Focus on the user Experience /great Experience design -Balance of power is shifting to customers
Tapping to Big Data , Analytics - for Customer Segmentation , for Increasing Operational Efficiency , to propose products to customers , winning Market
More flexible system , move from Legacy System
Customer Data Protection - Regulatory Compliance , opportunity for Privacy and Security Solution Providers