The Future of Digital Banking by Graham Thomas, Co-founder, Radical Company at the ArabNet Digital Summit 2013, June 24-26, Dubai, UAE

1. HOW TO SURVIVE WHEN THE FUTURE OF
BANKING IS DIGITAL
©
Radical
Company
2013
©radicalcompany.com
JUNE 2013
COM
PAN
Y
RADICAL

2. 2
©
2013
RADICAL
COMPANY
LTD
|
PRIVATE
&
CONFIDENTIAL
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3. 3
THE FUTURE OF DIGITAL BANKING
LIFETIME VALUE & WEALTH CREATION
THE FUTURE
PRODUCTS
DATA
PERSONALISATION
SOCIAL
EDUCATION
SHARING
MEDIUM
ENGAGEMENT
GAMIFICATION
BIG DATA
MICRODATA
ANALYTICS
EXPERIENCE
PRODUCTS
SEGMENTS
TECHNOLOGY COLLABORATIONINNOVATION AND
BEYOND NOW
NEW TOOLS PAYMENT SYSTEMS
CUSTOMER
CHANNEL
LEGACY
INTERNAL STRUCTURES
LEGACY FREE
IT INFRASTRUCTURE
OUTSOURCING
THE CLOUD
SECURITY ISSUES
CONNECTIVITY
CUSTOMER SERVICE
BRANCH
ONLINE
ENGAGEMENT
MOBILE
DASHBOARDS DIAGNOSTICSEDUCATION BUNDLING
RETAIL
BUSINESS
WEALTH
COMPLIMENTARY
NEW SERVICES
FUNCTIONALITY
TABLET
P2P TRANSACTIONS
GEOLOCATION
WALLET
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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4. 4
PHOTOGRAPHY
©
2006
VALARIE
(FLICKR)
FINANCIAL SERVICES BRANDS
NEED THE RED QUEEN TO SURVIVE
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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5. 5
IT TAKES ALL THE RUNNING YOU CAN DO,
TO KEEP IN THE SAME PLACE
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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6. 6
PHOTOGRAPHY
©
20O5
TOBIAS
MUNICH
(FLICKR)
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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SO INNOVATION NEEDS SPEED.
WE BELIEVE IN THE POWER OF MUTATION WHERE LOTS
OF LITTLE CHANGES HAPPENING FAST LEAD TO
SUSTAINED COMPETITIVE ADVANTAGE

7. 7
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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“IF STANDARDISATION IS ONE WAY TO MAKE
FINANCIAL INNOVATIONS CATCH ON, MUTATIONS
IS ANOTHER. BY EXPERIMENTING FURIOUSLY WITH
NEW PRODUCTS, THE INDUSTRY CAN HIT ON
ITERATIONS THAT WORK.”
Economist Intelligence Unit

8. 8
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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UNDERLYING ALL DIGITAL BANKING IS THE NEED TO
ENGAGE YOUR CUSTOMERS BETTER THAN YOU DO AT
THE MOMENT, TO CREATE HIGHLY PERSONAL
EXPERIENCES - NOT ONE SIZE FITS ALL - AND TO BUILD
TRUE LIFETIME VALUE.
SO LET’S START WHEN THEY’RE YOUNG..

9. 9
THE WORLD’S FIRST DIGITAL MONEY BOX THAT ALLOWS KIDS
AND FAMILIES TO SAVE, EARN & LEARN IN A SINGLE PLACE
In 20 seconds any child or adult can set up a money box to store the money
that they deposit and/or earn. Every customer will get a family friendly
cashback zone so they can recoup money from their families online spend.
Every customer will earn badges and/or money to encourage and reward
great money behaviours.
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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10. 10
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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Raise £500K from seasoned
angels who have backed our
vision for Join SAM
www.joinsam.com launches
Child & adult registration
Family cash back service
Withdrawal funds
Behavior awards
Saving wish list
Customer support
Raising £1.5m in 2 tranches (milestone based)
£500K £1M
Deposit funds
Card issuance for ATM
Social contribution against wish list
Retail offers
Family unit account links
Platform optimisation & service evolution
Marketing - PR / initiative testing Marketing - Full programme
ESTABLISHED SOFT
LAUNCH
FULL
LAUNCH
YEAR 1
END
App version
Offline cash back
Family chores
EU pilot plan
US pilot plan
MAR
2012
JAN
2013
APR
2013
DEC
2013
£500K
TIMELINE!

11. 11
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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JOIN SAM
Desktop web site interface

12. 12
©
2013
RADICAL
COMPANY
LTD
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&
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JOIN SAM
Social media

13. 13
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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1. Standard Chartered - Mobile banking 2. Barclays - Geo-location rewards scheme 3. Barclays - Pingit
1
v
2 3

14. 14
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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ASB!
Facebook virtual bank!

15. BARCLAYS
Features Store
15
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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16. 16
©
2013
RADICAL
COMPANY
LTD
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&
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MONEYDASHBOARD!
Money management!

17. 17
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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STANDARD LIFE
Wealth app

18. 18
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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PHOTOGRAPHY
©
2011
ADAM
TROMAN
(FLICKR)

19. 19
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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RADICAL
DISRUPTION
FACTORY
SOCIAL RESPONSIBILITY
COMMUNICATION
VALUE
NEW BANKING
SUPER LEAN
RESELLER
POERTABLE
GRAPHIC
REAL TIME T’S & C’S
SMS BANKING
CHECKERS
WEALTH MANAGEMENT
VIRTUAL CURRENCY
EXCHANGE
ONLINE
COUNCILLING
COMMUNITY
BANKING
SCHOOL
EDUCATION
LOCAL
HEROES
DIGITAL
INTERNSHIPS
LENDING
PAYMENTS
TOOLS
ALERTS AND WARNINGS
DECISION TREE APPS
DASHBOARDS
BUDGET BUILDERS - REAL TIME
FINANCIAL HISTORY
MICRO
PERR TO PEER
FACTORING
TWITTER
DIGITAL IOUs
INCLUSIVE
NEW VIRTUAL CURRENCY
E-COMMERCE INTEGRATION
D-WALLETS
FUTURE DISRUPTIONS

20. 20
“We want more than just a digital agency – we want partners to
help shape and deliver our digital innovation agenda across all
our customer touch-points. Radical enable us to respond to
market changes, develop innovative new experiences for our
global customer base and get new ideas to market in weeks, not
months and years.”
Juan Saenz de Santa Maria, Global Director – Retail Banking
©
2013
RADICAL
COMPANY
LTD
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PRIVATE
&
CONFIDENTIAL
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21. 21
©
Radical
Company
2013
THANK YOU
graham.thomas@radicalcompany.com
+44 (0) 7795 687 179
Download this presentation
www.radicalcompany.com/DOWNLOADS/DIGITALBANKING/surviving_future_digital_banking.pdf.zip