Fjord's annual digital trends report outlines our thoughts for the coming year around what will be happening in the world of digital. Edited by Christian Lindholm, Fjord's Chief Innovation Officer. For more information on Fjord visit: www.fjordnet.com or follow us on Twitter @fjord
THEMES ANDCONTEXTSDevices diverge, Living in
the ‘new now’services converge Information and communication flows freely.Consumers own expanding ‘families’ of devices, The result is multitasking and constant partial attention,while the era of distributed sensors takes off. boosting the strategic value of ‘now’.The smartphone replaces the computer as thedigital hub. The triumph of end-Everything is to-end experiencesconsumerised Service providers are required to offer compelling totalThe smartphone is the mobile computer. packages to an increasingly savvy audience.Technology originating in the consumer market Delightful design + awesome technology + cleveris now in control. business models are required to win the hearts and minds of tomorrows consumers.
THE INDUSTRYIMPACT An era of
disruption, change and uncertainty Global structural challenges, economic uncertainty and digital disruptions across many aspects of life combine to create a challenging business environment for most. But for those who place the right bets and embrace change, there is everything to play for. The emergence of smart systems Advanced digital service systems are starting to go mainstream. Growing device ecosystems and the web of sensors leads to interconnected devices and experiences. Different brands and services are combined and mashed-up in solutions optimised around the user’s individual needs, while self-contained apps are no longer viable.
2012 DIGITAL ENTERPRISE QUAKETRENDS AN
S.O.S FROM THE DISCONNECTED LIVING ROOMFROM SOCIALTO SPATIAL GETTING BEHIND THE DIGITAL STEERING WHEEL SAY HELLO TO 24/7 WEARABLES THE RE-INVENTION OF BANKING YOUR IDENTITY IS THE CURRENCY PAYMENT TAIL WAGS THE RETAIL DOGBREAKING THROUGH THE TRANSFORMATIONAL TABLETTHE GLASS
ENTERPRISE My iPad, Dropbox andGoogle
Docs make meproductive. I don’t care whatthe IT guys say, they don’t do QUAKEmy work for me.” B.Y.O.T: BRING YOUR OWN TOOLS STARTS AN ENTERPRISE QUAKE. Who will profit from the undeniable reality of consumerization, as more and more users bring personal tools to work? Companies save money and workers are happier however security, privacy and scalability become increased challenges. Users won t put up with interfaces that don t match the slick, pleasurable experiences of the stuff they use at home. B2C becomes the new B2B. This will help re-invent work. Fjord thinks quality user experience will triumph.
ENTERPRISEQUAKEWHEN PERSONAL DEVICES GO TO
What does this mean for consumers Mobile Iron is exploding as they bringWORK, IT MEANS THE END OF When you bring your tablet, some control back to the corporations.COMPUTER SAYS NO. smartphone, and favourite services to VMWare is innovating in mobile user work, you bring your own motivation. experience with their two-faced phone. Microsoft has a massive opportunityA few short years ago we had to put upwith poor user experiences on our Life and work will become more with Windows Phone. Web 2.0 services, intertwined as tools migrate to the like Salesforce matured just as PCsoffice PC or phone simply because the office. started dying. Holistic corporateIT department supplied it – the worker services like SAP seem like softwarewas not even consulted. We will also see a transformation in the from the age of mainframes. way businesses relate to customers, asBut the IT department is no longer incontrol. Now, businesses are finding tablets and mobile devices will free However, security and data loss are top staff from a few familiar hiding places, concerns for most companies that allowthat home-originating technology can behind big ugly monitors. The physical employees to use their personal devicesactually be cheaper and more efficient form of a tablet device will radically in the workplace, as well as compliancethat their unwieldy IT solutions – disrupt these interrelations, making the and legal implications. Fjord thinksmeaning an enterprise quake is wellunder way. old check-in desk type of exchange there is demand for corporate specific seem as ridiculous as those computer services, they just need to be built for says no sketches from Little Britain. the users and not the IT department.USER EXPECTATIONS ARE DIFFERENTFROM I.T. DEPARTMENT PRIORITIES. Skype, Google Docs and Dropbox are CONSUMERISATION WILL BE A leaders in this trend, as they have been PARADIGM SHIFT – YOU CAN MAKE IT created around a great user experience. AN OPPORTUNITY OR A THREAT. Evernote is interesting as it glues work and life into an inseparable digital entity.
ENTERPRISENike Cisco have both QUAKEopened
doors to B.Y.O.T. Own tools and services increases the blur between work life. The iPad is at the epicenter. -Players like Mobile Iron -Mobile DeviceManagement bring someorder to B.Y.O.T chaos. Goes Mac Security issues worry IT departments.
FROMSOCIAL TO SPATIAL LOCATION TIME
WILL PUT PRESSURE“My friends are online, ON SOCIAL SEARCH.but what I really care As social networking moves into the mobile world, theabout is where they are categories of location and time will grow in significance.and what they are doingnow.” This could alter the power balance between Facebook and Google and enable mobile first solutions to leap into contention. Spatial and real-time awareness are conceptual disruptors. Fjord sees a bright future for organisations that are able to harness the power of location and time – categories which, unlike social and search, are still up for grabs.
FROM SOCIALTO SPATIALWHEN SOCIAL GOES
MOBILE,THE RESULTS ARE SPATIAL.Fjord believes there are four global Users may also begin to create for INNOVATORS AND USERS WILL BUILDuniversal ways in which people organise themselves a more spatial graph*, as an THE SPATIAL GRAPH JOINTLY IN 2012,the world around them. extension of their social network. This AND SERVICES THAT BUILD will be a balanced fusion of people, LOCATION AND TIME-BASEDThe first is people – the classic social location and time. Only mobile devices FEATURES INTO THEIR SOCIALnetwork of connections and can fully enable this unique and rich ENVIRONMENT WILL REAP THErecommendations. The second is mixture, influencing the way we shape BENEFITS.semantic, and the search paradigm. our relationships with not just people,We also have location: because but with places, products andwhoever you are, you are always companies.somewhere unique. Lastly, time isuniversal and clearly shapes Early manifestations of this shift couldeverything around us. include powerful new types of digital loyalty cards. Companies like Tesco canCAPTURING THE POWER OF THESE readily access elements of the spatialLAST TWO WILL BE VITAL FOR graph, as can Google and Nokia. AndSERVICE INNOVATION, AND FORMS although the mobile operators haveTHE NEXT STAGE OF THE their own very powerful assets in this space, they will continue to be * Thanks to Luis Uguina of BBVA for this terminologyEXPERIENCE ECONOMY AS and approach.CONCEPTUALISED BY JOSEPH PINE paralysed by their terms of service(INFINITE POSSIBILITY) AND OTHERS. agreements and fragmented platforms.
Boosting value through user shared
digital provenance.Hop on / hop offcomputing commuting. Real timeSocial collaboration in FROM SOCIAL TO SPATIALthe physical world. Get in touch with real life. 3 Way StreetFoursquare radar and It’s all about moments; makinglocation memory makes it them and re-living them.the ‘Spatial King’. Contextual information creates meaning.
AN S.O.S. FROM THE DISCONNECTED“Watching
TV issupposed to be easy. LIVING ROOMSo why have I got sixremote controls?” TV HABITS HAVE CHANGED FOREVER. The living room is still where viewers, gamers and their devices battle for control of the largest screen in the home. The TV remote control is a usability nightmare and long overdue for a total revolution, Fjord thinks this is imminent. There is also a second screen, a smart phone remote app and a third screen, a tablet companion for an augmented experience. Basically, the disconnected living room is still crying out for smooth liquid experiences, and simplicity.
AN S.O.S. FROM THE DISCONNECTED
LIVING ROOMWITH MORE THAN 70 PERCENT OF The typical TV remote control is a 2012 IS THE YEAR IN WHICH THEUS REGULARLY VIEWING USING usability nightmare, a throwback to STRUGGLE FOR SOFA SUPREMACYTIME-SHIFT FEATURES, TV HAS technology from half a century ago and COULD FINALLY START TO SEECHANGED FOREVER. has become worse with the advent of SOME WINNERS AND LOSERS. smart TVs. The ‘remote revolution’ is imminent with touch emerging. MostBut there is still no single company that innovation will take place in the thirdhas found a way to bring great screen ‘the companion experience’ .connected liquid experience to the This is where users can learn moreliving room. about what they are viewing, chat with friends or other viewers and serviceThe TV manufacturers, the set top box providers can monetise. The secondmanufacturers, the cable and satellite screen is the remote app onoperators, and the telecom operators smartphones, which will become theare all battling for supremacy, and personal remote with stored favourites.increasing numbers of digital nativeslike Google, Apple, and Microsoft are The games console could become thealso muscling in. But no one is ‘trump-card’ by becoming a utilityproviding a universal benchmark, and platform. Consoles have the computingfor every new box and additional power and the interface. They just lackremote control in the room, end users the apps and content.are left more bewildered and frustrated.
Re-inventing the remote. AN S.O.S.
FROM THE DISCONNECTED LIVING ROOMThe games console is Now, whatever is the only channel.a virtual shop. Third screen provides the social stream Watching TV turns into talking TV.TV turns into social.Not so
YOUR IDENTITY“This feature isreally creepy.”
IS THE CURRENCY WILL WE PAY FOR THE FUTURE WITH OUR PRIVACY? There’s only one thing you can’t buy on the Internet: Privacy. As users give away their personal information in exchange for tangible benefits, privacy becomes currency. The exchange rate will be constantly negotiated between people and companies in real time. Creative responses to managing this balance will be a key trend in digital for 2012.
YOUR IDENTITY IS THEPRIVACY ISN
T SOMETHING YOUOWN, IT S SOMETHING YOU DO. CURRENCYUsers of digital services are becoming ETHICALLY, YOUR INFORMATION But for consumers the picture is lessaware of their power as personal data BELONGS TO YOU AS AN INDIVIDUAL. clear. How would you feel if yourbrokers. BUT IN PRACTICE, FJORD BELIEVES smartphone pops up with a coupon for THAT PRIVACY IS A STRANGE AND a Coke just as you start to get thirsty?They intuitively understand the NEWLY CONCEIVED COMMODITY Is that cool, or creepy?dynamic that offers free services and THAT IS ALWAYS BEINGdigital advantages in return for NEGOTIATED BETWEEN THE COOL IS JUST ONE CLICK FROMpersonal data, and how information is INDIVIDUAL AND CORPORATIONS. CREEPY.stored under the control of commercial enterprises such as Facebook (rather By providing different information to 2012 will see a host of services that willthan governments or other accountable different companies, users are currently push the boundaries of privacy – somebodies). It s a complex and potentially managing their own privacy in a of these will prevail as cool; others arevery socially significant shift in how we haphazard and unstructured way. The doomed to be creepy. This is therelate to each other and to smartest service providers, aware of tipping point we call the socialorganisations. this, will become aggregators of dilemma, because nobody knows context awareness, striking meaningful exactly where it lies. 2012 could be theBut your identity is highly valuable deals with users and turning into the first year of the Social Dilemma.information for advertisers and emerging brokers of privacy. businesses. Everybody remembers The trusted interface is a social variableGoogle vice-president Marissa Meyer For banks and mobile operators, this in which the boundaries of privacy areclaiming that credit card companies are could be a golden opportunity. They constantly negotiated and re-now able to track spending habits and have previously been trusted as negotiated between users and thepredict with 98 per cent accuracy, two guardians of privacy, and now find providers of services. Trust is still builtyears in advance, when a couple is themselves possible brokers of a new one click at a time.going to divorce. and highly lucrative commodity.
YOUR Bank of Facebook. IDENTITY
…and give up what? IS THE CURRENCYBig brother… New forms of currencies emerge. Managing your Digital Identity and making it digitally scalable. Identity reputation.or social messiah… The new safety guide – ‘The digital seatbelt.’ Start to pay for stuff with your identity Facerape and Identity theft becomes a social problem.
SAY HELLO TO24/7 WEARABLES “I
carry devices, but I wear fashion, if it is not cool, forget it.” IT’S TIME TO GET DRESSED UP IN TECH. THE BATTLE FOR YOUR GLANCE. Prepare for a new mobile frontier of connected watches, digital jewellery and ‘wearables’. Touch, gestural input plus always-on body monitoring sensors will bring us new types of fashion objects. New open micro platforms will make the sports monitors currently marketed by Nike, Polar and Suunto look like dinosaurs.
SAY HELLO TO24/7 WEARABLESCONNECTED WEARABLES
WILL Wearable devices will help bring a The natural control point for a networkBE ONE OF THE HOTTEST MOBILE broader understanding of our daily lives of sensors is the mobile phone. ThisTRENDS IN 2012. SIMPLY THE FACT and wellness. These are no longer turns the phone into the mobile digitalTHAT A WEARABLE IS ATTACHED sports monitors, but life monitors, hub. As the phone hosts a number of observing us 24/7. They will be open connected digital wearables fromTO THE USER 24 HOURS A DAY IS and connected, always-on, and they will armbands to wrist devices, this makesENOUGH TO TRIGGER A WHOLE dominate a new service domain. the relationship with the phone evenNEW CATEGORY OF SERVICE more intimate. The mobile phone willINNOVATION. THE CHALLENGE FOR WEARABLE finally become the true life recorder. ELECTRONICS IS TO UNDERSTANDCompanies ranging from Motorola to WHAT USERS WILL WANT TO DO This is fertile ground for start-ups, asrecent start-up MetaWatch are now WITH THEM, AND TO CREATE functionality needs to be iterated, andattempting to re-invent the watch. But INTERFACES THAT TAKE ADVANTAGE incumbents are likely to be stuck intraditionally watchmakers have insisted OF THE GROWING CONCEPT OF their old business ways.that the minimum battery life was not ‘GLANCEABILITY.’the day or two that we re accustomedto from mobile phones – instead, The new breed of wearables will alsowatches are expected to run for over a include invisible devices, such as thoseyear on a single charge. This subtle that are fitted to running and sportpoint illustrates the key differences shoes and clothing; designers will needbetween user expectations and what to understand the differences betweencan happen when digital devices those that include interfaces and thosebecome wearables. Pundits say that which simply monitor and transmitwatches are the dinosaurs of the digital data.age, but the killer app is time.
MetaWatch’s open wrist SAY HELLO
TO 24/7 WEARABLESplatform outsourceskiller app invention. Bluetooth Earrings. Skanz Pearl IzumiMotorola MOTOACTV Micro-sensor MP3takes incumbents into Cycling Bib Shorts.new space. Jawbone UP has had many problems and criticisms. ImWatch – takes Android to the Holo – the next-gen wrist. wearable computer. The Nike iPod Sport Kit is a standard feature for Apple, a clear WIN-WIN partnership.Audio jewellery is still notclose to being mainstream. Spiral hearing phone.
PAYMENT TAILWAGS THERETAIL DOG“Why doesn’t
one click PAYMENT INNOVATORS DISRUPT RETAILERS.shopping exist in thereal world? It would be Users expect digital services that are immediate,so much easier…” connected, relevant, and actionable. Now, they expect a similar level of digital immediacy to shape their interactions with real world services. The real world becomes an immersive 3D catalogue for on-line retailers. Retail, you are the dog, wake up!
PAYMENT TAILWAGS THERETAIL DOGPAYMENT METHODS
SET THESCENE FOR A ‘NEW NOW’.Giant retailers like BestBuy, Walmart As consumers are increasingly temptedand others are terrified of finding to focus on the benefit of a productthey’ve become 3D catalogues for experience right now (rather thanAmazon and eBay. They will need to delayed by delivery fulfillment), digitalcounter-attack, and provide richer, services will be dissolved further intosmarter experiences that offer instant the physical world. The consequence isgratification and more value. Bring back that we will begin to rethink ourhaggling, conversations and the human relationship to our surroundings andtouch. develop a feeling of the new now, retail is an emotion, not a place.Expect to see innovations in digitalloyalty cards, these create mutually MUCH OF THIS GETS AGGREGATED INbeneficial relationships between THE DIGITAL WALLET: A COMPELLINGmerchants and customers. Near Field FUSION OF PAYMENT MECHANISM,Communication in store, free Wi-Fi and COUPON EXPERIENCE AND LOYALTYabundance of QR codes enable CARD.conversations and new experiences.The airline check-in counter and the THE WAR TO DEFINE THE DOMINANTsupermarket check-out will become DESIGN OF THE DIGITAL WALLET ISengagement platforms. Smaller ABOUT TO ENTER FEVER PITCH.retailers, emboldened by digital successwith Groupon, will get it about mobileand will start to embrace the newnow via foursquare, Yelp and others.
PAYMENT TAIL WAGS THE Retail
goes digital, doing what, really well? RETAIL DOG Loyalty king Tesco will strike hard, so will airlines.Long tail of ‘stuff.’ The digital wallet is the new loyalty hub. Groupon is onto something Have your favourite big. Context based deals catalogues always with based on the here and now - you. Google becomes a brilliant! bargain hub.
BREAKING THROUGH THE“It understands me,it
moves with me” GLASS MULTI-MODAL EXPERIENCES GO MAINSTREAM. With our heads down, poking at glass screens, the touch paradigm has become a victim of its own success as users become slaves to their devices. Heads come up, mouths open and hands wave. The magic starts, well almost. As voice and gestural input emerge to perform more functions, we’ll see new ideas for services and business models emerge going far beyond touch.
BREAKINGTHROUGH THEGLASSWITH RICHER INPUT AND
OUTPUT Games development is habitually a In the health and fitness sector, we’llMETHODS, WE WILL SEE A FLOOD driver for this type of interaction enjoy innovation based around bodyOF SERVICES EMERGE experiment. Xbox Kinect transformed sensors that further extend the multi-DISRUPTING AND TRANSFORMING the living room, and could create new modal aspect of mobile devices. Finally, experience paradigms for mobile there are glanceable experiences ,THE WAY WE USE DIGITAL devices. optimised for peripheral vision andSERVICES AND DEVICES. combining smoothly with wearable We’ll see more devices begin to technology such as wrist-basedIn voice input and output, we re already recognise your facial movements – devices.seeing assistant services like Siri Toshiba has begun marketing(Apple), Tellme (Microsoft) and Google televisions that recognises the viewer What all these options have in commonVoice and Vlingo - the battle has and adjusts the set s preferences is that they give users the power tobegun. accordingly. break through the glass and enjoy experiences that are not limited toFree services like Nokia Drive can It seems like a logical next step to allow touch or vision.revolutionise commuting, and put users to tag things as liked by simplypressure on Sat Navs like TomTom and showing a thumbs up, or perhaps thisGarmin. gets commoditised with an action as natural as the blink.Location, time and social context istransmitted, making the networksmarter. WE WILL SEE THE EMERGENCE OF WHAT FJORD CALLS ‘ZERO UI’, AN ‘EYESFREE’ , ‘HANDSFREE’ EXPERIENCE FOR TRUE MOBILITY. THIS INCLUDESLocation-based inputs are taking off, SERVICES SUCH AS TASKER FOR ANDROID. THESE EXPERIENCES WILLand these can be expected to multiply. INTRODUCE USERS TO ADVANCED CONTEXT-AWARE AUTOMATION, ANDFoursquare and similar services are REMOVE THE NEED FOR ANY KIND OF SCREEN INTERFACE AT THE MOMENTalready suggesting offers and venues OF USE.based on a user s location.
BREAKING THROUGH THE GLASS Microsoft
Xbox Kinect Siri drives speech Live 360 becomes recognition into utilitarian. mainstream.Augmented Realitybecomes a featureeverywhere. Facial recognition Digital to physical creates social metadata. interfaces matter to people. Glanceable experience – Soundcloud iPad.
“I have started to use
my tablet for everything, a year ago I had never even seen one, amazing”THETRANSFORMATIONALTABLET WE ARE NOW LIVING – AT LAST – IN A POST-PC WORLD. Consumers have embraced the tablet as a more intimate type of computer. It glides into social situations like an English butler. Companies are embracing it as a new tool and focus for innovation. We are seeing a combination of leisure and business usage coming together with unprecedented synergy in the shape of the tablet. Two years ago we asked ‘what can I use a tablet for?’ It seems the answer is: everything.
THE TRANSFORMATIONAL TABLET In terms
of service design, banks have The market is totally dominated by been very fast to embrace the tablet as Apple and their dominance will a transformation tool, taking up the continue throughout 2012, with only slack where initiatives like sofa Amazon carving out a position in theIT S LESS THAN TWO YEARS banking failed to capture users lower end. If you are stuck in the middleSINCE THE TABLET MARKETPLACE imagination. This will spread to life will be tough, Apple and AndroidWENT FROM BEING A insurance companies, utilities, and will struggle to make headway. AWASTELAND TO AN EL DORADO. retailers in 2012. Windows tablet, perfected for enterprise, could be an opportunity, andiPads are now the third-largest revenue THE TABLET DEVICE IS PERFECT FOR here the Metro contextual experienceline for distributors across Europe as SO MANY BUSINESS USES – AND YET should provide an interesting approach.adoption by business customers takes IT S ALSO CARVED AN IMMEDIATEoff, and netbook sales (remember NICHE IN THE HOME. BUSINESS AND It is no exaggeration to say that thethem?) were comfortably overtaken by LEISURE USE ARE TWO SIDES OF THE tablet is now the new personaltablets early in 2011. SAME TABLET. computer – the first post-PC experience. In this era, organisations areThe instant on, large-scale multi-touch The tablet form incorporates leisure finding out that they simply mustuser interface enables new experiences, and desirability without even breaking provide an experience for users – mereand development for it can start from a sweat, it seems. Early adopters were functionality is no longer enough. Theclean slate. It s providing companies often amused to find their tablet tablet is the tangible form of this truth,with an environment to experiment in: instantly monopolised by their kids, and and the sales are the proof.adopted by management and if they could afford a second one, thatembraced by innovators, and has now in turn was taken over by a smittenbecome the digital skunkworks lab. husband or wife.
THE TRANSFORMATIONAL TABLET A young
market diversifies.Amazon Kindle comes from contentand cost and is evolving into a The tablet - a ubiquitous tool.platform to challenge the iPad. The transformation from play to work. The tablet is a life tool. The iPad is the king of this trend.7-inch tablets:A new device category,will it share the pocket?
GETTING BEHIND THE DIGITAL STEERING
WHEEL“My phone makesmy car feel more THE PHONE BECOMES THE REMOTE CONTROL FORconnected to me.” THE CONNECTED CAR. 2012 may see your car becoming part of your social network. The steering wheel will become an access point to not only real adventures, but virtual ones. The old world of a vertically integrated car will slowly crumble as cars evolve into mobile platforms and experience hubs.
GETTING BEHIND THE DIGITAL STEERING
WHEELWE RE ALREADY SEEING The car manufacturers are increasinglyVEHICLES FITTED WITH making their presence felt at consumerTECHNOLOGY TO ACCESS YOUR electronics events, embracing andSOCIAL NETWORK, ADJUST THE extending the notion of the car as a connected platform. Digital will start toCAR TO YOUR PREFERENCES, AND consume increasing RD budgets.LINK WITH YOUR SMART DEVICES Specifically, Microsoft is making slow but steady progress with their in-carThe next step is for many of the platform. Google s work in autonomousstandard interaction paradigms of driving will act as a catalyst for the cartouch interfaces, such as swiping and industry, though entry barriers are high,pinching, to become fully integrated disruption is imminent, maybe owninginto the car environment. cars will become something of the past.By opening up they’ll bridge the Car manufacturers will race to exposedifferent lifecycles between cars and vehicle APIs to developers to stayconsumer electronics, and put vehicles relevant in the digital era.at the forefront of emerging connectedobjects. OVERALL WE LL SEE MOVES, BUT MANY WILL FEEL LIKE DIGITALFor the driver, the steering wheel will SPOILERS, STUCK ON BUT FITTEDbecome the mouse of the connected POORLY INTO OUR DIGITAL LIVES.car and a toolbox for digital control. Forpassengers, we expect the car willincreasingly become the rolling livingroom, with features like tabletintegration becoming standard on evenmid-level vehicles.
GETTING BEHIND THE DIGITAL STEERING
WHEEL Car platforms open up for connected services Mobile device remote controlled cars The steering wheel becomes the mouse of the connected carMobile connectedcar sharing disruptsownership
THE I used to think
banks REINVENTION OFwould be the sameforever, but now thereare actually alternatives BANKINGout there. BANKS AND CARD NETWORKS NEED TO INNOVATE AND PROVIDE REAL VALUE FOR CUSTOMERS. New kinds of experiences and businesses are ready to take on the giants of the financial sector. Digital natives like PayPal, Amazon, Zynga, Google, and Facebook are gaining ground as payments become smarter. The most progressive banks will need to experiment with new business models and digital disruptions to fight back.
THE REINVENTION OF BANKINGTHE FIRST
CUSTOMER-FOCUSED The second impact for the banks is thatTSUNAMI WAVE TO HIT THE of digital services in physical retail.BANKS WILL BE PAYMENTS. Digital innovators will move the gamePAYPAL ARE THE MASTERS OF from the world of e- and m-commerce to the much larger world of high-streetPEER-TO-PEER PAYMENTS AND retail.DIGITAL CHECKOUTS, AND HAVESUCCESSFULLY ATOMISED THEIR The most progressive banks are starting INSTEAD OF MERELY BEING THECORE SERVICE ACROSS THE to experiment with new business PIPE OF MONETARY TRANSACTIONS,DIGITAL LANDSCAPE models and digital disruptions. They are THE MOST PROGRESSIVE BANKS also exploring ways to turn their WILL PUT TRUE USER-CENTRICITYMobile-optimised card payment branches from liabilities to assets in the AND CUSTOMER VALUE AT THEsolutions from Square and Intuit are new multi-screen experience economy. CENTRE OF THEIR STRATEGIES.putting pressure on card transaction Customers increasingly demandmargins, and the biggest threat of all in consistency and fluidity of service,the payment space is the lure of the functionality and experience.digital wallet, which will begin to shiftthe overall financial power balance from The ATM emerges into the rural digitalbanks and credit card companies to fountain providing money, connectivitycompanies that provide the smartest and deals where services are sparse.and best digital wallets. Banks havewoken up to digital and mobile and areinvesting to transform their businesseshoping digital provides a new lock-in.
THE REINVENTIONOF BANKING Business transformerDisruptor:
Simple Bank– a new way to bank Incumbents transform The ATM turns into bank branches into hubs a fountain of for digital conversations commerce connectivity Disruptor: PayPal is stepping up…Disruptor: Civilised Moneya crowd funded service Disruptor: Intuit