Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Banks & FinTech:
so close, so far
DAVID JIMÉNEZ MAIRELES
@davidjmaireles
davidjimenezmaireles
We are going to cover
4 things today:
CULTURE PRODUCT TECHNOLOGY MINDSET
What’s the current status of
culture in banking?
3 hours/day
Source: AppAnnie, 2019
Banking is changing…
…and so are banks and “bankers”
Does it really
matter
how employees
dress?
FROM
Close
Data controller
Project driven
Multi-layer hierarchy
Follow rules
TO
Open
Data sharer
Collaboration driven
Flat...
Are banking products a
commodity?
Being the “face” of banking
PHASE 1
(2011 – 2014)
BANKS
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LIC...
Being the “face” of bankingPHASE 1
(2011 – 2014)
BANKS
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
FINTECH
ACCOUNTS...
Source: CB Insights
Bundling banking servicesPHASE 2
(2015 – 2020)
BANKS
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
FINTECH
ACCOUNTS...
Can you spot the differences?
From transactional mails to brand experiences
Monzo (2014)
Simple (2011) Revolut (2018)
Incumbents banks
(1960 – 2010)
Redesign
banking for
today’s
customer
experience
Before
Now
Social media – a branding channel
Upcoming bill notification
Travel insights
Proactive help
NOT
penalty fees
Technology – what’s the
difference?
New technology… ...new business models
New technology has changed the way startups are
created
Source: Kleiner Perkins - FinTech Trends 2017
Legacy systems. The Achilles heel of banking
Design products with today’s technology
UK traditional banks Atom Bank
Translating banking terminology
Source: Optima Consulting 2018
27
Are you driving fast enough?
Challenger banks
10
Incumbent banks Source: Optima Consulting 2018, average iOS updates pe...
Incumbent banks are catching up….
…6 years later
2012 2018
What’s the difference in the
mindset of banks and startups?
Incumbents
Head of Digital Transformation
Head of Innovation
Head of Data
Head of Customer Experience
Challengers
Head of ...
Source: Company reports / websites / F-Prime analysis
Scalability (and CACs) not seen before
Source: Company’s respective press releases
Millions of customers, accounts and downloads
Source: Payments and Banking
April 2016
COLLABORATION
The new standard in banking
February 2018
Open Banking – New collaboration strategies
Source: Accenture, 2019
Bank owned
channels
New offerings
BaaP (Bank-as-a-
Pla...
THE FUTURE OF BANKING
BANKS VS FINTECH
BUT
BANKS & FINTECH
DAVID JIMÉNEZ MAIRELES
@davidjmaireles
THANKS!
Upcoming SlideShare
Loading in …5
×

Banks & FinTech: so close, so far

Banks & FinTech have gone through different stages in the last few years but they have more things in common than some have realized.

Related Books

Free with a 30 day trial from Scribd

See all

Banks & FinTech: so close, so far

  1. 1. Banks & FinTech: so close, so far DAVID JIMÉNEZ MAIRELES @davidjmaireles davidjimenezmaireles
  2. 2. We are going to cover 4 things today:
  3. 3. CULTURE PRODUCT TECHNOLOGY MINDSET
  4. 4. What’s the current status of culture in banking?
  5. 5. 3 hours/day Source: AppAnnie, 2019 Banking is changing…
  6. 6. …and so are banks and “bankers”
  7. 7. Does it really matter how employees dress?
  8. 8. FROM Close Data controller Project driven Multi-layer hierarchy Follow rules TO Open Data sharer Collaboration driven Flat hierarchy Avoid rules MASSIVE CULTURE SWIFT
  9. 9. Are banking products a commodity?
  10. 10. Being the “face” of banking PHASE 1 (2011 – 2014) BANKS ACCOUNTS DEBIT CARDS PAYMENTS INVESTMENTS DISTRIBUTION BANKING LICENSE CREDIT CARDS LOANS MORTGAGES FINTECH ACCOUNTS DEBIT CARDS PAYMENTS INVESTMENTS DISTRIBUTION BANKING LICENSE CREDIT CARDS LOANS MORTGAGES Offered (and internally or via 3rd party partnerships)
  11. 11. Being the “face” of bankingPHASE 1 (2011 – 2014)
  12. 12. BANKS ACCOUNTS DEBIT CARDS PAYMENTS INVESTMENTS DISTRIBUTION BANKING LICENSE CREDIT CARDS LOANS MORTGAGES FINTECH ACCOUNTS DEBIT CARDS PAYMENTS INVESTMENTS DISTRIBUTION BANKING LICENSE CREDIT CARDS LOANS MORTGAGES Offered (and internally or via 3rd party partnerships) Bundling banking services PHASE 2 (2015 – 2020)
  13. 13. Source: CB Insights Bundling banking servicesPHASE 2 (2015 – 2020)
  14. 14. BANKS ACCOUNTS DEBIT CARDS PAYMENTS INVESTMENTS DISTRIBUTION BANKING LICENSE CREDIT CARDS LOANS MORTGAGES FINTECH ACCOUNTS DEBIT CARDS PAYMENTS INVESTMENTS DISTRIBUTION BANKING LICENSE CREDIT CARDS LOANS MORTGAGES Offered (and internally or via 3rd party partnerships) Creating a Fintech bank PHASE 3 (2020 - )
  15. 15. Can you spot the differences?
  16. 16. From transactional mails to brand experiences Monzo (2014) Simple (2011) Revolut (2018) Incumbents banks (1960 – 2010)
  17. 17. Redesign banking for today’s customer experience Before Now
  18. 18. Social media – a branding channel
  19. 19. Upcoming bill notification Travel insights Proactive help NOT penalty fees
  20. 20. Technology – what’s the difference?
  21. 21. New technology… ...new business models
  22. 22. New technology has changed the way startups are created Source: Kleiner Perkins - FinTech Trends 2017
  23. 23. Legacy systems. The Achilles heel of banking
  24. 24. Design products with today’s technology UK traditional banks Atom Bank
  25. 25. Translating banking terminology Source: Optima Consulting 2018
  26. 26. 27 Are you driving fast enough? Challenger banks 10 Incumbent banks Source: Optima Consulting 2018, average iOS updates per year and FinTech
  27. 27. Incumbent banks are catching up…. …6 years later 2012 2018
  28. 28. What’s the difference in the mindset of banks and startups?
  29. 29. Incumbents Head of Digital Transformation Head of Innovation Head of Data Head of Customer Experience Challengers Head of Product VP of Growth Head of Partnerships Head of Culture
  30. 30. Source: Company reports / websites / F-Prime analysis Scalability (and CACs) not seen before
  31. 31. Source: Company’s respective press releases Millions of customers, accounts and downloads
  32. 32. Source: Payments and Banking April 2016 COLLABORATION The new standard in banking February 2018
  33. 33. Open Banking – New collaboration strategies Source: Accenture, 2019 Bank owned channels New offerings BaaP (Bank-as-a- Platform) Traditional FS offering Digital Service offerings BaaS (Bank-as-a-Service) Ecosystem partners 3rd parties CaaS (Capability-as-a-Service) CHANNELS OFFERINGS
  34. 34. THE FUTURE OF BANKING BANKS VS FINTECH BUT BANKS & FINTECH
  35. 35. DAVID JIMÉNEZ MAIRELES @davidjmaireles THANKS!

×