Over the past decade FinTech innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated a rapid emergence of digital banking firms and forcing established banks to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to agile financial startups. These threats come at a difficult time for banks - stagnant growth of already mature market, decreasing profit margins due to the competitive pricing of new entrants, and customer loyalty becoming increasingly more tenuous. Silicon Valley Innovation Center Professional Risk Managers' International Association

1. The Digital Banking Revolution
How FinTech companies are rapidly transforming
the traditional retail banking industry
Luigi Wewege
February 20, 2018

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3. Andy Zhulenev is Vice President at the Silicon Valley Innovation
Center, responsible for Corporate Innovation Services.
SVIC provides strategic industry insight and advice to
corporations from around the world. The goal is to understand
the disruptive impact of emerging technologies, identify new
business opportunities, accelerate corporate innovation to enter
new market and launch new products, transform the
organization and corporate culture.
Andy Zhulenev
https://siliconvalley.center

4. The Professional Risk Managers' International Association (PRMIA)
partnered with Silicon Valley Innovation Center (SVIC) to offer thought
leadership events to increase awareness about the ongoing FinTech
disruption of the financial services industry.

5. Luigi Wewege is the Principal of Palmetto Global Ventures - a
financial consultancy firm focused on digital banking and
financial technology solutions, and serves as an Instructor at
the FinTech School which provides online training courses on
the latest technological developments within the financial
services industry.
Luigi Wewege
Luigi is the author of
The Digital Banking
Revolution book.

6. The Digital Banking Revolution - Webinar
Luigi Wewege, Principal of Palmetto Global Ventures (Presenter)
20th February 2018

7. 7
The Digital Banking Revolution
How FinTech companies are rapidly transforming the traditional retail
banking industry through disruptive innovation.

8. 8
Specific changes which redefined the traditional retail banking model
• Loss of consumer trust
• Better service experience
• Financial regulation
Topics
• Smartphone adoption
Global financial crisis of 2007-2008
A plethora of alternative financial service offerings…
Regulation can often discourage financial service innovation.
Description
Consumer demand for innovative digital applications.
• The millennials Whose expectations are very different from those of prior generations.

9. 9
Warning to global retail banks
Just nine months after Alibaba launched their money market fund, they had already
managed to capture one Renminbi for every five deposited at Chinese retail banks!

10. 10
The race is now on to disrupt the financial services industry

11. 11
Rapid growth of FinTech adoption and investment

12. 12
The complete transformation of traditional retail banking
Payments
Banking on the go
Social media
FinTech wearables
Blockchain
Big data
A digital world…
Rise of FinTech
New technology
Contactless cards
Crowdfunding
Open APIs
Cryptocurrencies

13. 13

14. 14
The latest international financial service innovations

15. 15
The Commonwealth Bank of Australia - Albert

16. 16
Emirates NBD - Future Lab™

17. 17
Westpac New Zealand - Augmented Reality

18. 18
Planet Cash, Poland - Biometric ATMs

19. 19
Digital blueprint for global retail banks
• Go beyond banking
• Make it easy
• Make trust a priority
Topics
• Customers’ interests
Banks need to offer solutions that go beyond simple banking products.
Banks need to now create customer-centric digital platforms.
Banks need to promote transparency in all their dealings.
Description
Banks need to keep their customer’s interests at heart.
• Make it personalized It’s vital that banks leverage market and customer insights.

20. 20
The future of banking…

21. Silicon Valley Innovation Center
+1 (650) 274-0214
info@svicenter.com
https://siliconvalley.center