Colin shared the keynote at the American Banker Retail Banking conference in Las Vegas in April, taking up the disruptor mantle - here are his slides

4. How good is the USA at banking?
• Average savings of a 50 year old $43K,
• % over 65 who rely completely on Social Security: 35
• % of households who do not meet conservative retirement savings
goals: 90
• Student Debt $1,3tn
$172,000 65yr $6,800 CC $1.3TN SD
More than 90 percent of working households do
not meet conservative retirement savings targets
for their age and income

5. Wealth Management
• People arrive at retirement with no money
• Wealth management companies only want the customers who need them less
• PROBLEM
– The people who need help cant get it
– Wealth companies cant afford to help/acquire anyone else
Planner Salary $250,000
Overheads $110,000
Total FTE Costs $350,000
FUM Target $250,000
Fees 1% = $2.5K
Required # Customers
140 ( 350K/2.5K)
A day and half per customer,
preparing, meeting plus admin)
Today’s Wealth Manager Business Model

6. Insurance
EY 2014 Global Consumer Insurance Survey
• High Turnover and low trust signal serious relationship issues
• Insurers have so few interactions with customers every one is critical
• Its an annual compete on price
• Consumers want more frequent, meaningful and personal communications
• As consumers embrace digital, insurers must rethink distribution
• It must be digital and it better be engaging

7. Calls to the U.S. Consumer Financial Protection Bureau about debt collectors in 2014

8. Country Number of
POS Terminals
Number of
small
businesses
Number of
Charities
Number of
Schools
New Zealand 140,000 459,300 97,000 2,500
Australia 1,000,000 2,037,157 600,000 9,393
USA 14,000,000 28,000,000 1,500,000 98,817
UK 1,700,000 5,400,000 185,000 24,372
India 1,200,000 48,000,000 1, 285,576 1,379,932

9. Success depends on a business model shift
Bank definition of success
Customer definition of success
• Where do you place success?
• Where do your KPIs see success?
• Where do your team’s KPI’s see success?
Customer Centric – Liquidity Focussed
Product Centric – NII Focussed

14. 43.78 CR
235.87 DR
123,367.78 DR
10,143.78 CR
18,43.78 CR 18,43.78
0.00
43.78
8,43.78

21. We’re capturing hu
data.
IBM estimates that
all data generated b
as smartphones, ta
connected vehicles
is never analysed o
As much as 60 perc
begins to lose value
milliseconds of bein
Lets go Crazy!- Take

22. If ya can’t beat ‘em ..
– Pinch their ideas
– Make it Fun
– Make it Social
What to Do?
• Fun
• Social
• Education
• Reward
• Purpose
To compete at the thumb you must deliver
http://www-03.ibm.com/press/us/en/pressrelease/46453.wss?cm_mc_uid=79787574938914549779403&cm_mc_sid_50200000=1454977940

23. 2016
Thumb Fighter
You’re certified to demand
making banking
FUN to USE