D14 - Inspiring Digital Business - Fintech Studio Sessions

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FINTECH
STUDIO SESSION
#d14fintech @digiconx @PA_Consulting

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FINTECH STUDIO
SESSION:
Welcome & Introduction
Kevin O’Shaughnessy, PA Consulting

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#d14fintech
What's it like to be in Financial Services at the moment ?
Regulation
changing
Distribution
& Products
Customers more
connected &
demand better
experience
An overload of
new
developments ..
But desire to
innovate
Companies
looking at their
business
models

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The existing stuff we work with…
Internet/Extranet Sites
Workplace Portals
Wrap Platforms
FS Social Media
Financial Planning Tools
Intranets
FS Apps
Digital Marketing

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Wearable Technology
Big Data
Digital Identity
Internet of Things
Cashless Society
Collaboration
Personalisation
The new stuff we want to get our heads around

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Digital
Culture
Digital
Engagement
Digital
Enablers
Culture: The way in which a
company behaves, how it is
governed and led. How it
manages its strategic
development and measures its
digital success & performance.
Engagement: The experience and
opportunities that a company
creates using technology to allow
its customers, employees,
stakeholders and suppliers to
engage and transact on and offline.
Enablers: To deliver the desired
experience and engagement, a
company needs a revised suite of
capabilities spanning people,
process, structure & technology.
Putting it together – Engagement on the outside, culture and enablers on
the inside

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How we will navigate you through the maze
The world around us and coming revolution in FS Mark Thomas, PA Consulting 11.30 11.50
Experience excellence for the connected customer Carol Mc Creadie, Client Service Director,
Nunwood
11.50 12.10
Using social intelligence to influence and predict
behaviour
Nathan Sage, Head of Social Intelligence, PA
Consulting
12.10 12.30
Panel Debate Hosted by Gavin Neilson, PA Consulting 1.30 1.50
Creating a secure world for digital to survive & thrive John Skipper, PA Consulting &
Colin Mills, Pirean
1.50 2,10
Delivering for customers – why exploration through
rapid development is required to enhance customer
Robert McGill & Mickael Paris, Standard Life 2.10 2.30
How organisations are adapting to the change Rob Mettler, PA Consulting 2.30 2.45
Don’t forget to take part in our Digital Barometer Survey, either at a PA Showcase stand
or go to http://digitalbarometer.paconsulting.com/

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The World around us and
coming revolution in FS
Mark Thomas, PA Consulting

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Remember the dotcom hype…
0
20
40
60
80
100
120
31-Dec-97 31-Dec-98 31-Dec-99
Closing
share
price
Amazon

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But now, much of it has turned out to be prescient
Sector Iconic casualties
Retail Books Borders
Travel Thomas Cook
Films & Music Blockbuster
Photography Films Kodak
Cameras Olympus
Information Encyclopaedia
Encyclopaedia
Britannica
Source: PA analysis
0
50
100
150
200
250
300
350
31-Dec-97 31-Dec-01 31-Dec-05 31-Dec-09 31-Dec-13
Closing
share
price
Amazon

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We are on the edge of a similar revolution
Technology
IT
Big Data
Cloud
Machine to machine
Mobile
Social media
Artificial intelligence / Robotics
Other technologies
Display including 3d
Materials
Nano-technology
3d printing
Genetics
Energy
The Arms
Race
(speed of learning)
Basis for
personalisation
Superior Customer
Insight
Analytics:
• Needs
• Attitudes
• Behaviours
• Intentions
Superior Customer
Interaction
• Product
• Transaction
• Information
• Motivation
Superior
Customer Data
Integrating:
• Transactional
• Non-transactional
Basis for
analysis
Basis for
collection
of information

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The winners may not be the competitors you expect
Similar
model,
different
sector
Different
model,
different
sector
Same sector,
different
model / focus
Existing
competitors
Inertia has always
been the
incumbents’
friend…what if it
becomes their
worst enemy?
2015
2016-20
2020-30
2030-40
Lloyds TSB
AEGON
Admiral
Aviva
HBOS
RBS
WONGA
Directline
Sheila’s Wheels
Compare the market
Go Compare
Google Wallet
Facebook
O2
M&S Bank
Tesco
Virgin
2014
2013

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Success in self-disruption requires at least the following six elements:
The unit should have all the functional skills it needs to succeed, freeing it from reliance on the parent organization, and it must
not report to the business or businesses that are being disrupted.
For the incumbents to succeed, they will need to react whole-heartedly
An autonomous
business unit.
1
These leaders have addressed a variety of challenges, especially in the kinds of problems the new growth business will face.
They are often necessarily sourced from outside the organization.
Leaders who come from
the relevant “schools
of experience.”
2
This will fund the unit regardless of the fortunes of the core business.
A separate resource
allocation process.
3
These should not be required to coordinate with or defer to the existing sales organization.
Independent sales channels.
4
In most cases it will reflect priorities different from those of the core business. You can expect the new unit to do as well as the
core in terms of net profit per dollar of sales, but the formula for generating that profit (such as gross margins or asset turns)
must be different.
A new profit model.
5
He or she must be willing to spend an inordinate amount of time understanding and guiding the development of the new
business and must protect it from the natural desire on the part of managers in the core business to shut it down and appropriate
its resources.
Unwavering commitment
by the CEO.
6

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This sort of change can happen faster than you imagine
Models Company Issue
Time from peak to
problem
‘Widgets vs
digits’
Kodak Digital cameras 30 years
Newspaper classified ads Craigslist 17 years
Argos Internet purchasing 15 years
Blockbuster Digital streaming 15 years
Encyclopaedia Britannica Wikipedia 11 years
‘Digits vs
digits’
Nokia Apple 5 years
Apple Android ??
“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”
― Bill Gates
Source: PA analysis

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How might this change the landscape for suppliers?
0%
25%
50%
75%
100%
New entrants and reinventors Large incumbents Others
Source: PA analysis
A challenging regulatory
environment with a
desire to encourage
new entrants will
increase the likelihood
of such a scenario.
www.youtube.com/watch?v=njnNVV5QNaA

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Questions

EXPERIENCE EXCELLENCE
FOR THE CONNNECTED
CUSTOMER
Carol McCreadie
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CUSTOMER EXPERIENCE EXCELLENCE STUDY
UK, USA and Australia, since 2010
Why Do We Do This?
To find out Who
To find out How
To uncover the Common Elements
To help our clients excel
How Do We Do This?
Scale questions
Cross industry comparisons
Critical Incident Questioning
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WHO ARE THE TOP PERFORMERS?
Who are the Customer ExperienceWinners?
The Top 10 (UK)
1st
2nd
3rd
5th
6th
7th
9th
10th
Position Brand Score
8.25
8.23
8.19
8.18
8.01
8.00
7.98
7.95
7.93
7.90
4th
8th
The Top 10 (US)
1st
2nd
3rd
5th
6th
7th
9th
10th
8.17
7.96
7.88
7.81
7.73
7.64
7.63
7.62
7.60
7.52
4th
8th
The Top 10 (Australia)
1st
4th
5th
6th
8th
9th
7.95
7.95
7.83
7.74
7.53
7.52
7.50
7.45
7.43
7.41
3rd
7th
1st =
2nd
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WHICH INDUSTRIES EXCEL?
Highest
Lowest
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THE SIX PILLARS OF EXPERIENCE EXCELLENCE
Personalisation
Time & Effort
Resolution
Expectations
Integrity
Empathy
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EXPERIENCE SIGNATURE
Top 10 Experience Signature
Personalisation
Integrity
Time & Effort
Expectations
Resolution
Empathy
8.28
8.13
8.49
7.72
7.79
7.54
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WHICH PILLARS ARE DRIVING THE TOP TEN?
Top 10 Pillar Performance vs. Average
Personalisation
10% Integrity 14%
Time
&
Effort
9%
Expectations
12%
Resolution
14%
Empathy
14%
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PERSONALISATION
Tailoring the broad experience to the customer needs in a way that feels right
for each customer
• Are you passionate about making each customer feel like an individual?
• How do you translate this in a ‘digital world’?
• Have you put in place enough of the small steps to build an emotional connection with
your customers?
• What additional steps are needed to connect to your customer online?
Experience leaders are:
using big data to know their customers individually to
drive 1-2-1 conversations
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Lush:
• Qualification based sales process
• Friendly
• Problem solving
Personalisation Score:
7.77
Personalisation Score:
8.27
Body Shop:
• Pressure to buy more
PERSONALISATION: BEST PRACTICE
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TIME & EFFORT
Valuing time, minimising effort in interactions, making it easy for
consumers to do business
• Have you maximised technology to raise the bar?
• e.g. Amazon – ‘frictionless’ customer service
• Do your customers feel that their time is well spent when they deal with your
business?
• Do you make it easy for your customers to do what they need to do, no matter
what channel they choose and if they change channel?
analysing processes from the customer perspective to
remove unnecessary barriers
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TIME & EFFORT - CLICK & COLLECT
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EXPECTATIONS
Accurately setting, meeting and exceeding expectations
• Do you deliver your brand promise consistently to all your customers?
• Are your customers delighted when they deal with your company? Is it easier
or more difficult to do this in a ‘digital world’?
• Does your company set expectations with care and understand the
implications if they are not met?
consistently exceed expectations via ‘magic
moments’ to customers
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EXPECTATIONS – U Bank - Australia
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EMPATHY
Understanding the customer’s circumstances to drive a deeper rapport
• Are your employees trained and capable to react to individual customer feelings?
• Does your company genuinely care for the customer from the most senior all the way
down?
• Are your processes flexible enough to respond to individual customer circumstances?
building an inherent flexibility within their internal culture which
empowers their people to react to the customer
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EMPATHY - CASE STUDY:
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RESOLUTION
Turning a poor experience into a great one – putting things right when
they go wrong
• Process is often the enemy! Do you have the right processes in place to resolve things
for the customer quickly and sincerely?
• Do you focus on the lifetime value or potential value of the customer when resolving
things?
• If something does go wrong, do you leave your customer feeling good?
minimising issues through root-cause analysis and diverting
resources to ‘heroic recovery’ for serious problems
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A business you can trust, delivers on promises and consistently acts in
customers’ best interests
• What does ‘the right thing’ mean to your customer?
• Do you know what your business stands for? Is this a shared vision
across the company? Is it applied to all processes?
• 2013 vs 2012 performance
Co-operative FS – fell 110 places
Starbucks – fell 39 places
Amazon – fell 3 places
• Slow to build…….quick to fall
INTEGRITY
Integrity leaders are:
making clear , unambiguous statements of intent,
delivering consistently at micro and macro levels
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INTEGRATING BEST PRACTICE INTO YOUR BUSINESS
• Manage via a senior governance group
• CEO communications & messaging
• Weave into the culture
• Regular updates
• Central to business briefing
• Launch with impact
• Closed loop design
• Recruit
• Train
• Build into ‘everybody’s everyday’!
Customer at the Heart The Six Pillars as an
Experience Framework
• Understand
• Diagnose
• Prioritise
• Design
Push Metrics & Priorities
Across the Business
Implement & Improve
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THANK YOU!
Personalisation
Time & Effort
Resolution
Expectations
Integrity
Empathy
Many more case studies available at nunwood.com
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Social Intelligence :
Influencing & predicting
customer behaviour
Nathan Sage, PA Consulting

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What is social media? It’s just life that people have chosen to digitally share
Cartoon by John Atkinson ©2011-2014 http://wronghands1.wordpress.com/2013/03/31/vintage-social-networking/

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Scientific (Googled) definition
Social Intelligence is the mental ability to
understand the motives, emotions,
intentions and actions of others and to
motivate and influence the behaviour of
(groups of) people

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Combining the two creates a new playing field in the war for customer
centricity and better intelligence
Behave Feel Connect
Predict personality & behaviours
(group or individual)
Trusted influence and peer
recommendation

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Social intelligence is the most significant growth opportunity for the next
5 years?
98%
predictable
78%
influential
$200 million reward

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Timeline: An illustration of key life events as they’re experienced on Twitter
These Twitter conversations are excerpts from real, and randomly selected Twitter
conversations about each theme.
‘Trying to think of what
legal career I would like
to pursue when I
graduate.
#toomanyoptions
07-Apr-2014
‘So excited to start
learning to drive on
Thursday!’
05-Apr-2014
‘My plan for the
summer is to buy a
house, I will succeed!’
30 mins ago
‘So happy I'm starting my own
business this may! #ceo’
02-Apr-2014 17:59 PM
‘Oh yay!! A little fun in the
sun, drinking, laughing,
and fun girls
weekend! #3moredays xo
’ 17 hours ago
‘Oh my Gosh. He
proposed, we're
getting married!’ 17-
Feb-2014 16:48 PM
‘We're Planning A
Baby!’ 02-Dec-2013
17:55 PM
‘Family holiday planning
roll on September x’ 09-
Mar-2014 05:50 AM
‘Yes, it's true. I am
retiring at the end of the
month’07-Dec-2013
05:48 AM
‘I have been busy taking
care of my husband after
his first hip replacement.’
05-Mar-2014 15:22 PM
‘I had to plan my
husbands funeral for
Christmas.’ 05-Feb-2014
20:04 PM
At Leeds Uni have open
day with daughter. Already
empty nest pangs but must
let my girl fly... 12-Oct-
2013 06:36 AM

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PA identifies 60,000 people interested in buying a car in the UK over the
past 3 months. Only 111 have had their need for finance satisfied providing
a significant customer targeting and conversion opportunity for the bank
1,236
Mentions of car purchasing
and / or finance
111
Mentions of car
finance / loan and
a bank
60,000
Tweets expressing intent to purchase a car
Number of mentions relating to buying a car on Twitter
over the last 6 months
“Got to get my car MOT'd for the
first time this week, timed it all
wrong because I'm looking at new
cars at the weekend!! #fail”
08/07/13
“Gonna have to get a bank loan or
get a car on finance :)” 12/05/13
“If you look on a car dealership
site it usually shows you whether
you can buy it outright or whether
they offer finance...” 08/07/13
“#Santander need to hurry up and
send through my loan
paperwork....need to get this car
sorted! ...”
08/07/13

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PREDICTABILITY
Anticipating human
behaviour will become
the norm
The power of the
crowd will challenge
the power of
governments and
organisations
The battle for
influence and control
will be a primary
factor for success
INFLUENCE
Predictability, power, and influence
THESE WILL CHANGE OUR LIVES FOREVER…
POWER

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OF ALL DATA IS
CREATED BY
CONSUMERS
75%
Anticipating human behaviour will
become the norm
1. Businesses will use mapped behaviour patterns
to predict consumer needs and identify new
trends as they emerge
2. Years of big data and online activity will allow
organisations to understand consumers
intimately and target them precisely
Billions of people now record and share their lives so openly on social
media. This information can be analysed to establish norms, which in
turn reveal interests, attitudes and beliefs.

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The power of the crowd will challenge
the power of governments and
organisations
1. Businesses will use crowd thinking to
co-create products and services, and
encourage product acceptance
2. Consumers will create demand via the
crowd and the traditional sales model
will collapse
3. Corporate agility will become the key factor
for success as barriers for new market
entrants continue to shrink
4. Organisations and governments will create
their own influential crowds to counter the
power of consumer-led crowds
PEOPLE POWER
During 2010 the
total number of
Facebook users in
the Arab world
increased by 78%
to 21.3 million

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The battle for influence and control
will be a primary factor for success
1. Tribes will form around people of influence with global
reach & power. This will diminish country and cultural
influences and generate new centres of power
2. Governments will start to lose influence to individuals and
will legislate to protect and regain power
3. Cybercrime will be the new crime bonanza, creating an
economic force so strong that traditional combat tactics will
have zero impact
(23)
The number
of people following the
pop star
Justin
Bieber
is the same as the
population of
SPAIN

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Questions

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FINTECH
STUDIO SESSION PANEL
DEBATE

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CREATING A SECURE
WORLD FOR DIGITAL TO
SURVIVE AND THRIVE

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Thriving in a digital world. How can security help?
Safe and simple
P r o p o r t i o n a t e . I n t u i t i v e . F a s t .
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Per sonal and tr usted
W h a t c u s t o m e r s w a n t . H o w t h e y w a n t i t .
W h e r e t h e y n e e d i t .
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Richer functionality
More options. More opportunity.
More bus ine s s .
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Case study #1
Service transformation for a leading health, general and
life insurance multinational.
Case study #2
Secure online banking for international Wealth and
Investment Management organisation.
Business objectives:
• Provide secure access to service portals for employees,
customers, brokers and financial advisors.
• Transform application and service delivery platforms.
Better enable rapid go-to-market initiatives for new
services.
• Introduce customer self-care.
• Deliver strong authentication and an extensible platform
for integrating future technology.
Business objectives:
• Deliver secure online banking services, compliant with
the requirements of the Monetary Authority of
Singapore.
• Implement enhanced security controls with new 2FA
mechanisms, end-to-end encryption, out of band
transaction confirmation and secure/automated
issuance of passwords and tokens across multiple
devices.
• Provide seamless customer migration from existing
account and security systems.
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Questions

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Delivering for Customers
Robert McGill & Mickael Paris
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Confidential Restricted – Not to be disclosed beyond authorised roles within Standard Life group or authorised third parties
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13m
Drop in living
standards
£320bn
Savings Gap
7.5m
Advised to direct
13m
Looking for help
(MSE)
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Progress
over
perfection
Small expert
dedicated
team
Light
governance
Co-creation
No
ideologies or
HIPPOs
Autonomous
with support
Healthy
tension
Small
iterations
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success
challenges
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Always
know why
Don’t
guess
Don’t
want
everything
Invest in
people
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Enabling change, enabling success
Mickael Paris
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Why Rob and I should hate each other
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Why we don’t
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Change of pace
Before After
• Adding GWT verification code = 6
months
• Removing a banner from secured
site = 9 months
• Adding Multivariate Testing (MVT)
tags on all pages = 1 week
• Making half a site mobile
responsive = 1 month
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Change of strategy
14 years and barely any change outside of colouring…
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2000 2005
MyProducts added
2007
Doc centre added
2010 2011
Rebrand Now
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Change of strategy
…but, being faster now allows us to have a real customer-driven strategy
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Change of approach
Having an “omni-department” team allows us to move from regulatory content updates to on-going
website optimisation. Or when a few numbers can speak a thousand words:
Being data-driven rather than slaves to red-tape: MVT
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What the future holds for us
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Move fast with proof of concepts
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In big organisations the introductions of new technologies and new services can be time
consuming and resource intensive.
However since we changed our way of working:
MVT: 3 months from needs identification to 1st test
Web Chat: 2 months from sign-off to live date
Coming soon:
Phone/email/text re-targeting: Contacting People who abandoned a purchase
Online to offline tracking: Understanding which online activities are driving phone sales

What the future holds for us
Now we are set-up and geared up for change we want to keep the momentum going and
transform Standard Life from a nearly 200 years old unmovable beast to a leading e-business
company.
• Online segmentation: “Give me what I’m interested in…”
• Behavioural targeting at the individual level: “…what I need…”
• Becoming device agnostic:”…when and how I want it.”
We also want to become the place to go to for financial guidance by:
• Developing new tools
• Developing new apps
• Create the first “real” online guidance platform
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Questions
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How organisations are
adapting to the change
Rob Mettler, PA Consulting

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The world is changing and creating a new type of business…
Digital
Culture
Digital
Engagement
Digital
Enablers
© PA Knowledge Limited 2014

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So where are others and where are you…
Dabbling
in digital
Digitising
today
Digital
tomorrow
• No channel integration
• Heavily marketing biased
• Me-too services
• Minimal desire to change
• Minimal people with digital skills
• Multi-channel e.g. on-line, mobile and phone
• Some new digital customer services
• Self service, zero-touch transactions
• Have a digital strategy
• Digital operations added to organisation
• Omni-channel operations
Major growth and new revenues
• Business strategy is digital strategy
• Organisation re-structured to be
digital – new operating models
0
1
2
3
4
5
6
1 2 3 4 5 6 7

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19%
22%
25%
16%
10%
4%
3%
10%
0%
2%
9%
19%
31%
29%
0%
5%
10%
15%
20%
25%
30%
35%
Digital Dabbling (1) 2 3 4 5 6 Digitising Tomorrow(7)
32. Where are you now? 33. Where do you want to be?
Barometer data © PA Knowledge Limited 2014

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17%
21%
27%
17%
10%
4%
3%
7%
0%
2%
7%
19%
33% 32%
0%
5%
10%
15%
20%
25%
30%
35%
12%
24%
21%
31%
7%
2% 2%
5%
0%
2% 2%
19%
45%
26%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%

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We clearly understand how digital will transform our business/institution
dddddd
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
Disagree Slightly Disagree Neutral Slightly Agree Agree
15%
24%
29%
21%
11%
7%
21% 21%
43%
7%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
1 2 3 4 5
Overall Average Financial Services
Barometer data © PA Knowledge Limited 2014 – Blue: Overall Respondents (326) Orange: Financial Services (42)

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We have restructured our business/institution in line with our digital ambition
dddddd
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
30%
32%
22%
10%
6%
10%
50%
26%
14%
0%
0%
10%
20%
30%
40%
50%
60%
1 2 3 4 5

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We are using digital to target new customers with new propositions
dddddd
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
• Paperless, branchless
and card less, bank
• Uses mobile as the key
device for banking.
• Uses social scores to
determine pricing and
access to products.
• Integrated timeline to
show customers the
impact of their life on
their spending habits
We are using digital to target new customer with new propositions
31%
27%
21%
15%
6%
8%
38%
27%
24%
3%
0%
5%
10%
15%
20%
25%
30%
35%
40%
1 2 3 4 5
Barometer data © PA Knowledge Limited 2014 – Blue: Overall Respondents (326) Orange: Financial Services (42) Source: Moven website

89
#d14fintech
What is the driving force for digital change for your business/institution…
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Customers Competitors Employees Shareholders Market opportunities Regulation
What is the driving force for digital change in your business/institution
79%
46%
31%
12%
49%
16%
5%
90%
50%
19%
26%
50%
14%
5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Customers Competitors Employees Shareholders Market opportunities Regulation Other

90
#d14fintech
Who is driving digital inside your business/institution?
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
19%
13%
26%
12%
5% 5%
20%
0%
5%
10%
15%
20%
25%
30%
The CEO The board Marketing IT Operations Customer service Other
What is the driving force for digital change in your business/institution
Source: www.retail-week.com
(Photographer Jason Alden)
Source: John Lewis website

91
#d14fintech
We deliver a seamless integrated experience to our customers
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
We deliver a seamless integrated experience to our customers across channels
36%
29%
23%
9%
4%
26%
36%
24%
10%
5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
1 2 3 4 5

92
#d14fintech
We use digital innovations to improve the customer experience
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
21%
36%
23%
13%
8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
1 2 3 4 5
23%
35%
22%
14%
7%
12%
48%
14%
19%
7%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
1 2 3 4 5
Source:
Barclays
website
Source:
Apple
ITunes

93
#d14fintech
Digital disruption is making its way across the enterprise
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
63%
34%
21%
14%
26%
43%
2%
0%
10%
20%
30%
40%
50%
60%
70%
Marketing Sales/conversion Product/service in life Product supply chain New product
development
Customer service Other
We have adapted our processes for the digital world in the following areas
61%
31%
21%
13%
25%
42%
2%
64%
48%
29%
21%
17%
45%
0%
0%
10%
20%
30%
40%
50%
60%
70%
development
Source: First Direct website

94
#d14fintech
Governance needs adapting…
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
32% 32%
20%
11%
4%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
Our existing governance models are suitable for digital business
33%
32%
20%
11%
4%
29%
38%
19%
14%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
1 2 3 4 5

95
#d14fintech
Importance vs. implementation of big data (part 1)
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
63%
34%
21%
14%
26%
43%
2%
0%
10%
20%
30%
40%
50%
60%
70%
development
61%
31%
21%
13%
25%
42%
2%
64%
48%
29%
21%
17%
45%
0%
0%
10%
20%
30%
40%
50%
60%
70%
development
14%
3%
14%
33%
36%
5%
7%
5%
29%
55%
0%
10%
20%
30%
40%
50%
60%
It is not important (1) 2 Not sure (3) 4 Very Important for the future (5)

96
#d14fintech
Importance vs. implementation of big data (part 2)
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
63%
34%
21%
14%
26%
43%
2%
0%
10%
20%
30%
40%
50%
60%
70%
development
61%
31%
21%
13%
25%
42%
2%
64%
48%
29%
21%
17%
45%
0%
0%
10%
20%
30%
40%
50%
60%
70%
development
38%
34%
17%
8%
3%
29%
40%
26%
5%
0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Not used (1) 2 Currently used by some areas of
the business (3)
4 Currently used throughout the
business (5)

97
#d14fintech
Importance vs. implementation of mobile (part 1)
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
63%
34%
21%
14%
26%
43%
2%
0%
10%
20%
30%
40%
50%
60%
70%
development
61%
31%
21%
13%
25%
42%
2%
64%
48%
29%
21%
17%
45%
0%
0%
10%
20%
30%
40%
50%
60%
70%
development
11%
2%
9%
27%
50%
7%
2%
10%
29%
52%
0%
10%
20%
30%
40%
50%
60%
It is not important (1) 2 Not sure (3) 4 Very Important for the future (5)

98
#d14fintech
Importance vs. implementation of mobile (part 2)
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
81%
45%
31%
12%
51%
15%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
63%
34%
21%
14%
26%
43%
2%
0%
10%
20%
30%
40%
50%
60%
70%
development
61%
31%
21%
13%
25%
42%
2%
64%
48%
29%
21%
17%
45%
0%
0%
10%
20%
30%
40%
50%
60%
70%
development
24%
26%
25%
17%
8%
12%
38%
33%
14%
2%
0%
5%
10%
15%
20%
25%
30%
35%
40%
Not used (1) 2 Currently used by some areas of
the business (3)
4 Currently used throughout the
business (5)

99
#d14fintech
This won’t be easy, but nothing that matters is easy…
13%
24%
29%
23%
11%
0%
5%
10%
15%
20%
25%
30%
35%
1 2 3 4 5
Organisation culture/structure
Lack of Digital Expertise
Cost and Investment
Legacy/Technological Constraints
Limitations due to strategy
Leadership buy-in
Governance
Lack of agility
Prioritisation/focus/time
Established market dynamics
“Inertia in the parent organisation”
“Understanding and buy in from SMT”
“Lack of digital expertise to drive the investment”
“Getting the leadership team to believe and act”
“Getting agreement on the best way forward”

100
#d14fintech
The new world’s exciting, it’s changing, transform and focus on the customer
Digital
Culture
Digital
Engagement
Digital
Enablers
Look at this holistically,
digital on the outside,
digital on the inside
The world’s changing,
create a business for
tomorrow’s world
Focus
on the
customer

101
Thank you for listening

D14 - Inspiring Digital Business - Fintech Studio Sessions

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