Chris Skinner's Insights on Key FinTech Figures

Chris Skinner

@FSClub and @Chris_Skinner
www.thefinanser.com
© Chris Skinner. All rights reserved.

www.thefinanser.com


Tim Berners-Lee (www)


2002: Bought by eBay for $1.5 billion, with revenues at $200 million
2005: Revenues reach $1 billion
2009: transactions exceed $20 billion per quarter and revenues $2.8 billion

"PayPal delivered a strong third quarter performance. It ended the quarter with 117.4 million active
registered accounts, a 14% increase over the third quarter of 2011. Revenue increased 23% year over
year and net total payment volume (TPV) grew 20% year over year to $35.2 billion."

PayPal’s 2012 revenue will be over $5 billion compared with $4.4 billion in 2011.

PayPal processed $113 billion in transactions in 2011 compared with $60 billion in 2008. PayPal
processed $4 billion in mobile payments in 2011 and expect to process over $10 billion mobile
transactions in 2012.


Martin Cooper (mobile)


 According to a 2012 survey by the
Gates Foundation, the World Bank
and Gallup, more than 10% of
adults said they had used mobile
money in the last year; of the 20
countries surveyed, 15 were in
Africa
 Somalia lacks a functioning
government but 34% of adults use
mobile money (often to receive
remittances from family members
abroad)
 In Kenya, 68% of adults use
mobile money and half have
paper-based bank accounts

Source: the Economist, April 2012

• 20% of Kenya's GDP
• At peak, 200 tx/second
• KES15 billion ($180 million) is stored
in M-PESA at any time
• Fraud is 1/20th of Banking
• 17% of Safaricom's revenue – more
than text and data combined
• When launched, 2.5 million bank
account holders in Kenya; five years
later there are over 9 million
• Safaricom does not earn interest on
the money stored, but gives interest
to a charitable foundation


Jack Dorsey (twitter & square)


Within a year of launch, Square was processing over:

• $2 million a day in April 2011, rising to over
• $3 million a day by May 2011
• $4 million a day by July 2011; and
• $11 million a day by November 2011.

In October 2011 they had 750,000 merchants
rising to over a million by December – there
are only eight million card-accepting
merchants in the USA in total.

By March 2012, Square was processing $4
billion a year in payment volumes, double
the amount announced in October 2011.


March 2012

April 2012

June 2012


Mark Pincus (zynga)


Data is the greatest raw material of
business, on a par with capital and labour.

“What we are seeing is the ability to have
economies form around the data and that,
to me, is the big change at a societal and
even macroeconomic level.”
Craig Mundie
Head of Research and Strategy
Microsoft


Satoshi Nakamoto
(bitcoin)

Mark Zuckerberg (facebook)


Julian Assange (wikileaks)


Aaron Barr (HB Gary)


May 2012
• Facebook is the worlds largest social network
• Every other person on the internet are users
• That’s over 900 million monthly active users
(up from 680 million a year ago) and 526
million daily active users (up from 372 million
last year)
• Monthly mobile users now total 488 million
• 300 million photos are uploaded to the site
each day
• 3.2 billion Likes and Comments daily
• 125 billion friendships are forged per day
• Revenue for the first quarter of 2012 was
$1.058 billion, up from $731 last year

• 850 million users • 150 million users
• 166,890,779 user visits, February • 26,186,877 user visits, February
2012 2012

• 500 million registered / 200 million • One hour of video is loaded every
active users second
2012 2012

• 90 million users • 51 million users
2012 2012


Mohammed Bouazizi


Molly Katchpole


GLoSoMo
• Global
• Social
• Mobile

American Express’s Facebook page has around 13,500 crowd sourced
stories at any moment in time (this is the number of actions such as likes,
comments and shares by AMEX’s fans). Multiply this by the number of
friends each of these stories reach (the average user has 234 friends) then
the “potential” reach is over three million people all the time.


Personal Financial Management (PFM)

• Over 25% of online users signed up for stand-alone PFM within 6 months
• Over 75% of new PFM users use PFM again within two weeks
• Over 25% of new PFM users use PFM five times or more in the first month, and
spend more than double the time in PFM compared to general online banking
• The average time onsite is 12 minutes, with 35 pageviews per PFM session
• More than half of all PFM users are still active a year after signing-up
• Over 80% of users are “pleased” or “highly pleased” with PFM
• 9 out of 10 users say they’d recommend PFM to others
• 66% say PFM has helped them see how they can improve financially
• 41% say they have improved financial behaviour after starting to use PFM


Body monitor


Financial Data Wars

“Banking is just bits and bytes.” John Reed, CEO/Chair, 1984-98
“What we are seeing is the ability to have economies form
around the data and that, to me, is the big change at a societal
and even macroeconomic level.” Craig Mundie, Head of
Research and Strategy, Microsoft
“I look at Wall Street as broken, from the point of view of
Silicon Valley” Roger McNamee, founder of Elevation Partners,
the $1.9 billion fund


Financial Digital Actual
= CRED
Behaviour Behaviour Behaviour

Ability to be a
Ability to Ability to be Movenbank
= CRED
manage trusted advocate
money

PFM, DDA, Lo LinkedIn, eBay,
ans, Savings, I Facebook, Twitte Movenbank
= CRED
nvestments … r, Prosper … gamification

= CRED

Fingered

http://www.ushuaiabeachhotel.com/en/pioneers/


Opus Research predicts that the global number of registered voiceprints will increase
from 10 million today to over 25 million in 2015, and much of this will be driven by the
payments markets.

ING Café


“We don’t hire bankers, because bankers come
in with their DNA and they have their legacy
which won’t fit. Instead we hire dancers,
musicians and artists. People who can deliver a
great and different experience.”
Arkani Kuhlmann, President and CEO, ING Direct USA
BAI Retail Delivery 2008


Umpqua Bank

In 2003, Umpqua began opening banking centers whose designs employ a truly retail approach, including wall and floor visual merchandising.


“…executives cross the Atlantic
on a Virgin plane, listen to Virgin
records and keep their money
with a Virgin bank ….”
-- Richard Branson,
‘The Economist World in 1997’


The Top 5 Banks in the World

2010 1999
1 Bank of America 1 Citigroup
2 JP Morgan Chase 2 Bank of America
3 Citigroup 3 HSBC
4 Royal Bank of Scotland 4 Crédit Agricole
5 HSBC 5 Chase Manhattan

Source: The Banker


Fidor Bank thinks different!

Fidor Bank = GLOBAL PEER TO PEER BANKING.

 Crowdsourcing, e. g. with a user-community, that allows peer-to-peer support, sharing of
experiences and cooperation in order to solve financial questions;

 Crowdfunding, e. g. by getting paid by the bank for specific social interactions within Fidor Bank
Community;

 User co-designed Products and user driven Prices, e. g. Product suggestions within the
community, „Zins-Consenus-Group“ within Fidor Bank Community, „Like-Zins“, an interest rate that is
directly connected to the amount of Likes on Fidor Bank´s Facebook profile.

 Crowdfunding, via third party platforms such as startnext and others;

 Peer to peer lending within FidorPay Account;

 A global payment offer, that will allow „account to account“
payments or „account to cash pick up“.

Fidor Bank´s Customer „phase in“ allows efficient marketing spendings.

2011: proof of concept

€100,000 Communication Spendings since Kick off

75,000 top Line User registrations year end 2011

€1.33 Cost per Registration

6,000 full KYC Customers in avg 2011

€16.7 Cost per Full KYC Customer in avg 2011

€14.83 net income/full KYC user in 2011

The Bank of 2020

Social
Mobile
Micro
Mining
Biometric

Still a bank

BBC, January 2012 Guardian, July 2010

Banking is just data
“Information about money has become
almost as important as money itself .”
Walter Wriston, CEO/Chair, 1967-1984

“Banking is just bits and bytes.”
John Reed, CEO/Chair, 1984-1998

Data is the greatest raw material of
business, on a par with capital and labour.

“What we are seeing is the ability to have
economies form around the data and
that, to me, is the big change at a societal
and even macroeconomic level.”
Craig Mundie
Head of Research and Strategy
Microsoft


• It took radio 38 years to
reach 50 million
listeners.
• Television took 13 years
to reach 50 million users.
• The internet took 4
years to reach 50
million people.
• The iPad reached
50 million users
in just 18
months.


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