making legacy nimble - bba · 20thoctober 2016 making legacy nimble eric crabtree, global head of...
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20th October 2016
Making legacy nimbleEric Crabtree, Global Head of Financial Services
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Agenda
The digital bankinglandscape today
How to handle a Data Explosion
The role data analytics can play
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We are embarking on a new age
1900 1990 Beyond
1960 2010
Age of manufacturing
Mass manufacturing makes industrial powerhouses successful.
Boeing, GE, RCA
Age of distribution
Global connections andtransportation systemsmake distribution key.
Walmart, Toyota, UPS
Age of information
Connected PCs and supply chains mean companies that control data flow dominate.
Google, Comcast, Capital One
Age of the customer
Empowered buyers demand a new level of customer obsession.
Salesforce, USAA, Amazon
In which the most successful enterprises will reinvent themselves to serve increasingly powerful customers.
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Changing consumer expectation
• You know who I am
• You understandmy financial needs
• You are communicatingwith each other
• You remember whatYOU told me before
• You remember whatI told you before
• You care about me
30% Down
Using physicalbanking locations less
33% Up
Using theirmobile app more
35% Up
Using a bank’s websiteor online portal more
Source: Case Bank/Braun Research © June 2015 The Financial Brand
Transformation of bankingTransactions 2015 vs. 2014
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Market Challenges & Opportunities
Historical lack of investment in IT, ageing workforce in legacy
systems
New digital & challenger banks seeking launch across EMEA
Increased focus on consumer access 24/7 driving huge security & modernisation opportunity
Increase in lending & IT flexibility to ramp up and down
Speed to Market with new products
Huge strain on organisations for
Regulatory Compliance
Omni-Channel approach to offer better frictionless Customer experience and attract the millennial
generationRapid move to Cloud
Exponential growth in digital expectations and capabilities
Continued effort to understand the customer – Data Analytics
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Challenges following the Data Explosion
Not enough trained staff to analyse dataNot enough trained staff to analyse data
Too much data to process
Too much data to process
Lack of understanding of the importance of
the data
Lack of understanding of the importance of
the data
Inability to access and process data
Inability to access and process data
Lack of analytics tools and access to skilled
teams to utilise them to full potential
Lack of analytics tools and access to skilled
teams to utilise them to full potential
Unable to correlate disparate data sets
such as social media, asset management,
events, etc.
Unable to correlate disparate data sets
such as social media, asset management,
events, etc.
Budget limitations to create new capabilities
– need to share data and analytics across
organisation
Budget limitations to create new capabilities
– need to share data and analytics across
organisation
Organisation’s culture is not data driven
Organisation’s culture is not data driven
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Accelerating Data Driven Culture with Advanced Data Analytics
Predictive Analytics for Different Industries
Intelligent Applications for Digital Transformation
Analytics for IoT Devices
StealthAnalytics
Data explosion following digital adoption
InsightsBusiness
Value
Social Data
Network Data
External Data
Apps Data
Internet of Things
Program Data
Reporting
Dashboards
Visualization
BusinessIntelligence
Ad hoc Search
Forecasting
Machine Learning
Predictive Analytics
Cognitive Computing
No SQL DB
Risk Management
Advisory Services
Customer Segmentation
Impact Analysis
Change Management
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How to harness those challenges
Big Data/Analytics needs “hand in hand” work between the Business and Operational SME’s, to “Find the Gold” that is in YOUR data.
“DIY” is not always the best option. Work with your trusted partners.
When in doubt, utilise trusted experts to help “guide you” to find the gold hidden in your data.
@ericecrabtree [email protected]