Discover some key trends about banking with this new NOW zoom on categories. Contact with us for more information and trends inspiration.

1. Zoom on Banking

2. The future
is not
for the
ones who
imagine
it, but
for the
ones who
create it
Banking of the future, banks of the future,
bankers of the future, means of payment of
the future... The future is closer and closer,
and in the last couple of years, the banking
sector is witnessing the starts of a great re-
volution. A global revolution that’s being
possible thanks to technology. Banks that are
more like start-ups, smarter money, smartpho-
nes that guide you through the supermarket...
In this NOW Zoom we will cover three key
aspects that show how banks and means of
payment are embracing innovation. Immerse
yourself in this issue of NOW Zoom on Ban-
king, or contact us if you want to attend to a
trends session on the future of banking.
THE START

3. 1. Challengers
2. Banks Refreshed
3. Mobile Money

4. “Byebye
Banks,
you’ve
had your
fun” Transferwise.
“Byebye Banks, you’ve had your fun” is the
rallying cry that a currency exchange startup
uses to present itself in society. And they are
not alone. Everyday more and more com-
petitors emerge in this sector. New business
models, or companies coming from other
fields bring new products or services that tra-
ditional banks are not offering. They are agi-
le, fresh, and come loaded with lots of new
ideas. Examples like Simple, which appeared
to redefine the way people interact with their
banks offering a social and more connected
experience are mushrooming nowadays.
They bring in new ways of doing that cha-
llenge traditional models. They might be the
newcomers, but it looks like they are here to
stay...
1. Challengers

5. INSIGHT: Safaricom has surpas-
sed the bounds of its category,
becoming a brand that’s really
relevant to people. Offering use-
ful mobile powered services in di-
fferent areas, they are improving
Kenyan’s quality of life. Instead
of a simple telecommunications
provider, they have become a
motor for growth and utility that
puts in people’s hands the tools
to have a simpler and better life.
Safaricom
This mobile company owned by Vodafone in Kenya is redefi-
ning the way Kenyans interact with money thanks to their service
“MPesa”. In a country where the vast majority of the population
is unbanked, Mpesa enables its users to send and receive money,
save, and even apply for loans using just their feature mobile
phones and SMS.

6. INSIGHT: In a context where
banks are one of the less apprec-
ciated companies, there is an
opportunity for new models that
,leveraging the power of commu-
nity, offer banking services wi-
thout the need of a bank partici-
pating in the proccess.
Transferwise
Founded by some of the creators of Skype and Paypal, this com-
pany uses P2P systems to transfer money and exchange curren-
cies, saving on the charges that banks apply for this services.
Transferwise builds on the premise that for every person who
wants to change currencies, there is someone who wants to make
the same exchange in the opposite direction. Putting this people
in contact, they get the banks out of the equation, therefore sa-
ving money by charging their users much less for the service.

7. Traditional
banks
redefine
themselves
Without a doubt, in the last years banks have
lost touch with their customers. Times of cri-
sis, scandals, and cultural shifts have made
some people blame the banking sector for
the current economic downtime. This joins the
pressure applied by new companies and busi-
ness models born as an alternative to banks,
and it’s making some traditional banks try to
reinvent themselves focusing on innovation.
They try to make people’s life a little easier in
order to reconnect with them. Conventional
models are redefined to adopt new ways of
consuming and fresh ideas about what does
value mean. Technology is becoming a key
factor for some of the banks that remained
statinc during the last years, allowing them to
evolve by embracing change in order to offer
new services and recover consumer’s trust.
2. Banks Refreshed

8. INSIGHT: iGaranti focuses on
utility and simplicity, on the new
relations between people and
their money, and in what they
want to do with it. In a market
as dynamic and regulated as the
Turkish banking sector, iGaranti is
offering services beyond its cate-
gory, setting itself ahead from the
competition and showcasing as a
useful and innovative bank.
iGaranti
Back in 2013, Garanti, one of the biggest banks in Turkey, laun-
ched their digital service iGaranti partnering with Fjord. iGaranti
lets users manage their financial accounts and perform any ac-
tions as if they were in an office, but it also offers new mobile-only
oriented services, like a virtual assistant, or tips and services to
help you save. The mobile app has won several design and in-
novation awards, and it’s available for both Garanti customers
and not customers. iGaranti leverages service design as a way to
solve problems, getting advantage of digital and technological
opportunities to offer adaptive services that change according to
the user’s context.

9. INSIGHT: Barclaycard’s inten-
tion to give users an active role
in managing and designing the
service is a key point. Leveraging
the trends of crowdfunding and
communities that unite in order
to reach their goals, Barclaycard
shows their concern to understand
what do their customers want in
order to offer them a service that
lives up to expectations, designed
just for and by them.
Barclaycard Ring
With Ring, Barclaycard presents a new path for banks, using
the power of communities to build a better card. Ring works like
an online community where every member can decide on which
are the features and perks of the card, what’s the interest rate it
offers, etc. As a reward for their commitment, Barclaycard shares
a certain amount of the benefits Ring generates with the members
of the community.

10. Now,
your
bank fits
in your
pocket
Everyday, our lives revolve more and more
around mobile devices. this devices are chan-
ging the way we interact with each other and
even the way we understand the world. Mo-
ney is no exception. Today, anybody can be
sending money while crossing the streets, or
doing the weekly household shopping while
sitting in the bus. Smartphones in Spain reach
66% of the population, and allows compa-
nies to be connected with users at all times.
This also redefines people’s expectations and
needs regarding their finances. We should
take advantage of this connection and the
new possibilities it opens, understanding the
new ways people relate with their money and
new payment options.
3. Mobile Money

11. INSIGHT: The downside of this
technology is the privacy issue. To
what extent is it invasive to send
unwanted notifications to people
walking by? The key for the suc-
ces of this technology will be it’s
ability to prove itself useful enou-
gh to be activated by the users.
Estimote Beacons
Beacons are small devices that connect with nearby smartphones
using low energy bluetooth systems, and they might bring the
next revolution of retail. They are capable of sending offers and
messages via push to smartphones, and even enabling them to
send payments directly using a secure connection. They possibi-
lities they offer to incorporate mobile shopping, or persinalised
offer services are as many as we can imagine.

12. INSIGHT: If banks don’t want to
lose their ground regarding ser-
vices that were exclusive to them
before, they will have to provide
added value solutions with dis-
ruptive utility for their users. For
example BBVA in Spain is develo-
ping Commerce360, an applica-
tions suite for retailers that levera-
ges BBVA’s POS big data to help
them understand and act upon
their customers, their context, and
their business.
Square
Thanks to Square, anyone with acces to a smartphone or tablet
can send and receive payments in their bank account. Square
plugs into the headphones input and transforms the device into
a mobile POS terminal. This offers an interesting alternative to
conventional payment gateways, with lower charges and wire-
less mobility. It’s design, simple interface, and ease of use make
Simple a real alternative to consider, open to everyone and com-
patible with almost every bank and financial account provider.

13. If you want to know the latest
trends and innovations in banking,
and how to embrace them in your
business strategy, get in contact
with us.
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