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www.thefinanser.com
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60,000GB OF DATA IS SHARED ON THE INTERNET
EVERY SECOND
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THE LARGEST COMPANIES BY MARKET CAP
THE OIL BARONS HAVE BEEN REPLACED BY THE WHIZ KIDS OF SILICON VALLEY
http://www.visu...
5
SOMETHING HAS CHANGED….
FIRM ESTABLISHED EMPLOYEES MKT CAP
1916 116,000 $53B
2009 7,000 $60B
1927 200,000 $17B
2008 5,00...
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SOMETHING IS CHANGING….
FIRM ESTABLISHED EMPLOYEES MKT CAP YEARS EMPLOYEE
1692 130,000 $30B
1999 13,000 $48B
1870 101,00...
7
SOMETHING IS CHANGING….
FIRM ESTABLISHED EMPLOYEES MKT CAP YEARS EMPLOYEE
1692 130,000 $30B
1999 13,000 $48B
1870 101,00...
8
FIRM ESTABLISHED EMPLOYEES MKT CAP YEARS EMPLOYEE
1692 80,000 $40B
1999 18,700 $105B
1870 97,500 $21B
2015 7,000 $150B
2...
FIRM ESTABLISHED EMPLOYEES MKT CAP YE
1692 80,000 $40B
1999 18,700 $105B
1870 97,500 $21B
2015 7,000 $150B
2011 1,000 $20B...
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BACK OFFICE
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MIDDLE OFFICE
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FRONT OFFICE
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BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
15
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
16
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
17
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
18
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
19
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
20
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
21
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
22
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
“I forgot
my wallet!”
24
VENMO QUARTERLY US PAYMENT VOLUME & ANNUAL GROWTH
2013 volume is estimated by BI Intelligence.
Source: PayPal, BI Intel...
25
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
WHY API MARKETS MAKE SENSE
Revenues Expenses
October 2011
Launch of X.commerce API October 2011
Launch of X.commerce API
J...
AUTHENTICATION APIsTRADING APIsPAYMENTS APIsOPEN APIs
A MARKETPLACE OF APIs
APIness is the truth
28
HOW TWO BROTHERS TURNED SEVEN LINES OF CODE …
INTO A $9.2 BILLION STARTUP
Now, Stripe’s Patrick and
John Collison are t...
29
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
30
31
FUTURE JOBS
33
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
34
EVERYTHING YOU DON’T UNDERSTAND ABOUT TECHNOLOGY … COMBINED WITH
EVERYTHING YOU DON’T UNDERTAND ABOUT MONEY
35
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Foundational innovations must
overcome many barriers –
technological, organizational,
governance, political.
http://blo...
37
SHARING DATABASES
38
TRANSPARENCY AND TRUST
39
Supply Chain
Trade Finance
Smart Assets
Smart Contracts
(programmed transactions)
Digital Identity
Payments
41
WROTE ETHEREUM WHEN HE WAS 19 YEARS OLD
42
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
43
BACK OFFICE
Manufacturing
product focused
upon innovation
MIDDLE OFFICE
Processing
transactions
focused upon
quality
FR...
44
45
Carl-Nicolai Wessmann, CEO, Spiff, partnering with Nordea
46
My three year old son likes to
play with dinosaurs…
… so do w...
47
48
LEGACY VS. LEADERSHIP
“ The only thing of real importance that leaders do, is
to create and manage culture ...
It is the ultimate act of leaders...
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Banker
Digital Banker Ex-Banker now Investor
FinTech Start-up
The Crypto Guy
Ashok Vaswani, CEO,
Barclays Bank UK
Li Wang, Head of Alipay
and Ant Financial, EMEA
Each employee of Alibaba
generates $1...
55
CHINA’S MOBILE PAYMENT TRANSACTION VOLUME HIT US$15 TRILLION IN 2017
WITH ALIPAY AND WECHAT PAY TAKING 92% OF THE MARKET
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2 BILLION USERS BY 2025
WORLD ECONOMIC FORUM, JANUARY 2017
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ANT FINANCIAL
2 billion customers
100 billion transactions a day
Systems refresh every 3+ years
5th gen systems
>1m tra...
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RANKING BANKING GROUP MARKET CAPITALISATION (USD bn)
1 JP Morgan 388
2 ICBC 330
3 Bank of America 315
4 China Construct...
More Than Just Cloud
Source from : www.alibabagroup.com
Alibaba The Largest Retail Commerce Company Worldwide, And Much Mo...
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ANT FINANCIAL IS THE TIP OF THE ICEBERG…
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Banks
Start-ups
Tech giants
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Banks Tech giants
Start-ups have no
customers, little
capital and no
history, but are
driven by vision
Carl-Nicolai Wessmann, CEO, Spiff, partnering with Nordea
67
My three year old son likes to
play with dinosaurs…
… so do w...
68
Banks
Start-ups have no
customers, little
capital and no
history, but are
driven by vision
Tech giants have
billions of...
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Start-ups have no
customers, little
capital and no
history, but are
driven by vision
Tech giants have
billions of custo...
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215
128
124
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85
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0 50 100 150 200 250
Manufacturing
Finance
Transportation
Media & Telecom
Natural Resourc...
Chris Skinner
www.thefinanser.com
chris@thefinanser.com
Chris_Skinner
Open Banking Strategy and Business Model
Open Banking Strategy and Business Model
Open Banking Strategy and Business Model
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Open Banking Strategy and Business Model

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Open Banking Strategy and Business Model

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Open Banking Strategy and Business Model

  1. 1. www.thefinanser.com
  2. 2. 2
  3. 3. 3 60,000GB OF DATA IS SHARED ON THE INTERNET EVERY SECOND
  4. 4. 4 THE LARGEST COMPANIES BY MARKET CAP THE OIL BARONS HAVE BEEN REPLACED BY THE WHIZ KIDS OF SILICON VALLEY http://www.visualcapitalist.com/chart-largest-companies-market-cap-15-years/ Top 5 Publicly Traded Companies (by Market Cap) #1 #2 #3 #4 #5 2001 2006 2011 2016 $406B $446B $406B $582B $365B $383B $376B $556B $272B $327B $277B $452B $261B $293B $237B $364B $260B $273B $228B $359B
  5. 5. 5 SOMETHING HAS CHANGED…. FIRM ESTABLISHED EMPLOYEES MKT CAP 1916 116,000 $53B 2009 7,000 $60B 1927 200,000 $17B 2008 5,000 $21B 1923 185,000 $165B 2004 12,691 $315B Source: Geoffrey Parker, 2016
  6. 6. 6 SOMETHING IS CHANGING…. FIRM ESTABLISHED EMPLOYEES MKT CAP YEARS EMPLOYEE 1692 130,000 $30B 1999 13,000 $48B 1870 101,000 $17B 2015 5,000 $60B 2011 400 $9.2B 5 $22M/EMPLOYEE 1799 235,000 $245B 217 $1M/EMPLOYEE Date: October 2016
  7. 7. 7 SOMETHING IS CHANGING…. FIRM ESTABLISHED EMPLOYEES MKT CAP YEARS EMPLOYEE 1692 130,000 $30B 1999 13,000 $48B 1870 101,000 $17B 2015 5,000 $60B 2011 400 $9.2B 5 $22M/EMPLOYEE 1799 235,000 $245B 217 $1M/EMPLOYEE Date: October 2016
  8. 8. 8 FIRM ESTABLISHED EMPLOYEES MKT CAP YEARS EMPLOYEE 1692 80,000 $40B 1999 18,700 $105B 1870 97,500 $21B 2015 7,000 $150B 2011 1,000 $20B 7 $20M/EMPLOYEE 1799 167,000 $385B 219 $2M/EMPLOYEE Date: October 2018 SOMETHING IS CHANGING….
  9. 9. FIRM ESTABLISHED EMPLOYEES MKT CAP YE 1692 80,000 $40B 1999 18,700 $105B 1870 97,500 $21B 2015 7,000 $150B 2011 1,000 $20B 5 1799 167,000 $385B 21 Date: October 2016 9 SOMETHING IS CHANGING…. FIRM ESTABLISHED EMPLOYEES MKT CAP EMPLOYEES MKT CAP 1692 130,000 $30B 1999 13,000 $48B 1870 101,000 $17B 2015 5,000 $60B 2011 400 $9.2B 1799 235,000 $245B Date: October 2018 167,000
  10. 10. 10
  11. 11. 11 BACK OFFICE
  12. 12. 12 MIDDLE OFFICE
  13. 13. 13 FRONT OFFICE
  14. 14. 14 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy
  15. 15. 15 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy RETAIL BANKING COMMERCIAL BANKING PAYMENTS WEALTH MANAGEMENT INVESTMENT BANKING INSURANCE
  16. 16. 16 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy People Process Product
  17. 17. 17 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy People PlatformPlatform Product
  18. 18. 18 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  19. 19. 19 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  20. 20. 20 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  21. 21. 21 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  22. 22. 22 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  23. 23. “I forgot my wallet!”
  24. 24. 24 VENMO QUARTERLY US PAYMENT VOLUME & ANNUAL GROWTH 2013 volume is estimated by BI Intelligence. Source: PayPal, BI Intelligence Millions ($)
  25. 25. 25 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  26. 26. WHY API MARKETS MAKE SENSE Revenues Expenses October 2011 Launch of X.commerce API October 2011 Launch of X.commerce API June 2013 Launch of mobile API June 2013 Launch of mobile API 26
  27. 27. AUTHENTICATION APIsTRADING APIsPAYMENTS APIsOPEN APIs A MARKETPLACE OF APIs APIness is the truth
  28. 28. 28 HOW TWO BROTHERS TURNED SEVEN LINES OF CODE … INTO A $9.2 BILLION STARTUP Now, Stripe’s Patrick and John Collison are teaming with Amazon to grab even more control over the global flow of commerce. 21 AND 19 YEARS OLD
  29. 29. 29 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  30. 30. 30
  31. 31. 31
  32. 32. FUTURE JOBS
  33. 33. 33 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Experience Platform Product
  34. 34. 34 EVERYTHING YOU DON’T UNDERSTAND ABOUT TECHNOLOGY … COMBINED WITH EVERYTHING YOU DON’T UNDERTAND ABOUT MONEY
  35. 35. 35
  36. 36. 36 Foundational innovations must overcome many barriers – technological, organizational, governance, political. http://blogs.wsj.com/cio/2017/01/20/the-internet-blockchain-and-the- evolution-of-foundational-innovations/
  37. 37. 37 SHARING DATABASES
  38. 38. 38 TRANSPARENCY AND TRUST
  39. 39. 39 Supply Chain Trade Finance Smart Assets Smart Contracts (programmed transactions) Digital Identity Payments
  40. 40. 41 WROTE ETHEREUM WHEN HE WAS 19 YEARS OLD
  41. 41. 42 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy Apps APIs Analytics
  42. 42. 43 BACK OFFICE Manufacturing product focused upon innovation MIDDLE OFFICE Processing transactions focused upon quality FRONT OFFICE Retailing experiences focused upon intimacy
  43. 43. 44
  44. 44. 45
  45. 45. Carl-Nicolai Wessmann, CEO, Spiff, partnering with Nordea 46 My three year old son likes to play with dinosaurs… … so do we.
  46. 46. 47
  47. 47. 48 LEGACY VS. LEADERSHIP
  48. 48. “ The only thing of real importance that leaders do, is to create and manage culture ... It is the ultimate act of leadership to destroy culture when it is viewed as dysfunctional.” Edgar H. Schein, former professor at the MIT Sloan School of Management, 2004
  49. 49. 50
  50. 50. 51
  51. 51. 52 Banker Digital Banker Ex-Banker now Investor FinTech Start-up The Crypto Guy
  52. 52. Ashok Vaswani, CEO, Barclays Bank UK Li Wang, Head of Alipay and Ant Financial, EMEA Each employee of Alibaba generates $16 million a year Wow! Ours generate less than $400,000
  53. 53. 55 CHINA’S MOBILE PAYMENT TRANSACTION VOLUME HIT US$15 TRILLION IN 2017 WITH ALIPAY AND WECHAT PAY TAKING 92% OF THE MARKET
  54. 54. 56 2 BILLION USERS BY 2025 WORLD ECONOMIC FORUM, JANUARY 2017
  55. 55. 57 ANT FINANCIAL 2 billion customers 100 billion transactions a day Systems refresh every 3+ years 5th gen systems >1m transactions per second
  56. 56. 59
  57. 57. 60 RANKING BANKING GROUP MARKET CAPITALISATION (USD bn) 1 JP Morgan 388 2 ICBC 330 3 Bank of America 315 4 China Construction Bank 270 5 Wells Fargo 268 6 HSBC 198 7 Agricultural Bank of China 200 8 Citi 183 9 Bank of China 180 10 Ant Financial 150
  58. 58. More Than Just Cloud Source from : www.alibabagroup.com Alibaba The Largest Retail Commerce Company Worldwide, And Much More Than A Sales Channel DIGITAL MEDIA AND ENTERTAINMENT CORE COMMERCE LOCAL SERVICES Data Technology Data Technology Payment and Financial Services Logistics Marketing Services & Data Management Platform Cloud Computing
  59. 59. 62 ANT FINANCIAL IS THE TIP OF THE ICEBERG…
  60. 60. 63
  61. 61. 64
  62. 62. 65 Banks Start-ups Tech giants
  63. 63. 66 Banks Tech giants Start-ups have no customers, little capital and no history, but are driven by vision
  64. 64. Carl-Nicolai Wessmann, CEO, Spiff, partnering with Nordea 67 My three year old son likes to play with dinosaurs… … so do we.
  65. 65. 68 Banks Start-ups have no customers, little capital and no history, but are driven by vision Tech giants have billions of customers, billions of capital, decades of history and have vision and drive
  66. 66. 69
  67. 67. 70 Start-ups have no customers, little capital and no history, but are driven by vision Tech giants have billions of customers, billions of capital, decades of history and have vision and drive Banks have millions of customers, billions of capital and centuries of history, but are hampered by heritage
  68. 68. 71
  69. 69. 72 215 128 124 99 85 47 45 37 27 0 50 100 150 200 250 Manufacturing Finance Transportation Media & Telecom Natural Resources Utilities Education Health Care Technology & E-commerce US federal government regulations (thousands)
  70. 70. Chris Skinner www.thefinanser.com chris@thefinanser.com Chris_Skinner

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