digital disruption.electro fed nov 4pptx
TRANSCRIPT
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Digital Disruption
Debbie Gamble
Disruption
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• 50B devices will be connected to the internet by 2020
• There are almost 2B people on social networks • 52% of Fortune 500 firms since 2000 are now
gone • 90% of consumers want more from their brands • $4.7 trillion traditional financial services revenue
at risk from disruption • The ‘re-imagination of everything’
New ways to transact
3 Courtesy of Wetpaint
The worlds largest taxi company, owns no vehicles.
New Relationships
4 Courtesy of Wetpaint
The worlds most popular media company, owns no content.
New Retail Destinations
5 Courtesy of Wetpaint
The most valuable retailer, has no inventory.
New Experiences
6 Courtesy of Wetpaint
The worlds largest accommodation provider, owns no real estate.
Mobile First
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Changing Consumer Behaviour
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Digital Commerce Trends
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• Omni-channel convenience • Content as a path to commerce • The optimization of checkout • All access • Recognize and personalize • Consumers influencing consumers • The rise of the sharing economy • Secure identity as new currency
Changing Payments Landscape
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• Market focus on FinTech - $2.1 Trillion by 2023 • Invisibility of payments • Blurring of lines between physical and virtual • Payments and Banking are no longer synonymous • Multi factor authentication will become the norm • Trends impacting the payments ecosystem
• Mobile • Tokenization • Cloud/HCE
• Blockchain • Big Data • Faster Payments
• IOT • Crypto Currencies • Social Payments
Banks Under Threat
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New Alternatives
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New players entering the Canadian payment
space
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Big Data
• Data is the new form of power • Big Data delivers both scope and depth • Allows for deployment of data-enabled services at
a large scale • Tailoring product characteristics to the needs of
individuals • Significant implications on policies and potentially
regulatory requirements
What does this mean to you?
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• The ‘customer experience’ is now part of your value proposition
• Leverage partnerships can extend your ecosystem • Create convenience and eliminate obstacles • Engage your consumer community • Significant opportunities for ‘Financial Inclusion’ • Stay relevant
