Kom videre på www.1508.dk/services På Morgenboosterne i 2014 har vi talt meget om Lean Startup som metode til at arbejde agilt med både strategi og eksekvering. Få virksomheder er endnu lykkedes med at anvende tilgangen i større skala. Men en af dem er Saxo Bank. En virksomhed der på kort tid har etableret sig som en vigtig spiller i den finansielle sektor, og som på mange fronter har redefineret konceptet ’bank’.

2. MIKAEL MUNCK
GLOBAL HEAD OF TECHNOLOGY AND OPERATIONS

3. AGENDA – LEAN INNOVATION I SAXO BANK
3
• WHO WE ARE
• HOW CAN I MAXIMIZE SPEND ON NEW DEVELOPMENT / INNOVATION
• WHAT WE DID
• HOW IT AND BUSINESS WORK TOGETHER AT SAXO BANK
• MODEL FOR LEAN AGILE ENTERPRISE
• INNOVATION @SAXO BANK
• TRADINGFLOOR.COM
• OPEN API
• INDUSTRY TRENDS
• Q & A

4. SAXO BANK FACTS
4
EMPLOYEES >1300
NATIONALITIES 59
SPOKEN LANGUAGES IN THE BANK 40
OFFICES 25 countries
NO. OF FX TRADES PER DAY 170,000
MAX NO TRADES/SECOND >1200
DAILY AVERAGE TURNOVER 100 billion DKK
NO. OF COUNTRIES WITH RETAIL CLIENTS 190
SAXOTRADER LANGUAGES 25
GROSS PROFIT <15 øre per 1,000 DKK traded
FINANCIAL INSTRUMENTS more than 30,000
RECEIVED PRICES PER DAY 5-6 billion

5. MULTI ASSET TRADING PLATFORM

6. SAXO BANK BUSINESS MODEL
6
PROVIDER
OF PRICES AND
PRODUCTS
SAXO BANK
CLIENTS
12
Large International Banks
50
Exchanges
NASDAQ, NYSE, OMX, LSE, GLOBEX,
EUREX, ETC.
25
Other Trading Facilities
CHI-X, TURQUOISE, ETC.
SAXO BANK’S
ONLINE
TRADING
PLATFORM
Private
White Label Clients
BANKS, BROKERAGES, ETC. USING SAXO
BANK’S TRADING PLATFORM
Institutions/Corporates
ASSET MANAGERS, FINANCIAL ADVISORS,
INTRODUCING BROKERS

7. LEAN INNOVATION – GREEN FIELD VERSUS ENTERPRISE
How much of my budget can I spend on
new development versus maintenance ?
How do start-up succeed and why do
established companies fail ?
What we have done at Saxo Bank

8. LEADING QUESTION
How do I connect the dots, thriving towards a optimal framework for new
initiatives and innovation - rather than just controlling and managing the chaos !

9. ANSWER – WHAT WE DID
Establish Frameworks and Principles (order in chaos)
 Way we are organized
 Way of thinking
 Way of modeling and working
 Way of executing and prioritizing
Connect to Saxo Bank Strategy
 Tied initiatives and definitions to company values
 Loyal to Agile Manifesto
Continuously Delivery (mindset)
 Less focus on the model initially – daunting tasks
Minimum Viable Product
Learning from EA discipline -> Principles -> Manifesto

10. The Saxo Way of Working – a way for Business and IT to collaborate on projects
Underlying 7 Principles of The Saxo Way of
Working
1. Agile Mindset – not Waterfall
2. Collaboration model – not a Governance model
3. Handshakes – not Gates
4. Faster time to market – not processes and
tools
5. Rationality – not theoretical
6. Clear Roles and Responsibilities
7. Designed for and by Saxo Bank
The Saxo Way of Working:
• Is a collaboration model
• Is a service approach – the underlying value is
“We are here to help!”
• Is the Business Analysts Tool Box to help Business
and IT in projects
• Is about Handshakes
The Saxo Way of Working

11. The Saxo Way of Working

12. z
Qualify Execute
Value case
Project
Board
BA
Group
Business
Analyst
Product
Manager
UAT & Sign
off
Enterprise
Architect
Product Delivery Manager
Develop
the Bank
IT
Strategic
Projects
Align
Capture
- Value
proposition
- EMG “idea”
Sponsor
IT
Business
Run the Bank
(IT) IT Operations
Handover
Hyper careDevelop
Test&release
Run the Bank
(Business) Commercial Market Operations
Roll-outEducate & prepare
Qualify ExecuteCapture Handover
Sales
Business Owner
Business
Requirements
BA
IT Project
Manager
Coordinate
throughout
the project
Commercial
Markets
Operations
Finance
IT

13. #2 - CONTINUOUS DELIVERY
More than a way or releasing software
on a daily basis:
- A common mindset of continuously
improving
- A way of setting high ambitions

14. 14
MVP/Feature
Delivery Package
Deliveries
What is NOT included
Responsibilities (who does what) -
including documented manual
procedures
• Markets
• OPS
• Other Stakeholders
Tracking and Feedback Loop
• Ensure MVP tracking
• Internal
• External
• What are the success criteria
• Measurable!
Program/Initiative
Develop
MVP
Feature
MVP
Feature
MVP
Feature
MVP
Feature
MVP
Feature
MVP
Feature
MVP – Minimum Viable Product
• Mindset/process to produce the
smallest, simplest cheapest product
increment that can start build-
measure-learn loop
• Provide incremental business value
• Max 3 man-months duration
• Small team
• Quantifiable learning outcome
Analysis Design
Development
Test
Deployment
#3 - MVP – DEVELOP/EXECUTE CYCLE
More than improving efficiency:
- A mindset of experimenting
- A way of enhancing dialogue
with clients

15. CONNECTING THE DOTS
Agile on a Enterprise level

16. LEAN AGILE ENTERPRISE
16
Minimum Viable Product
The minimum required changes, which proves a hypothesis (a
claim) so validate further investments in refining idea /
product
Product Delivery Model
Efficient feature driven execution in small batches
and metrics
Continous Delivery
Minimize cycle time from a feature is committed
until it is released in production – through
ruthless automation
FeatureFeature
Feature
Lean/agile enterprise
principles
• Work in small batches/iterate
• Build measure learn
• Continously improve
• Quantifiable learning
• Reduce waste
• Minimize cycle times
Minimize cycle time from idea to learning/verification

17. SO ARE WE DONE YET……
 The Saxo Way of Working -> Product Delivery Model
 Continuously Delivery – not in all projects / teams – but we are getting
there
 Minimum Viable Product - feed-back loop all the way to clients, only
partly there

18. SAXO BANK AND INNOVATION
18
• FIRST RETAIL FX BROKER
• PIONEERED WHITE LABEL MODEL
• AWARD WINNING PLATFORM AND
INFRASTRUCTURE
• TRADINGFLOOR
• OPEN API

19. TRADINGFLOOR
Top Traders List
(social trading)
VIP Blogs
Instrument Sections
Saxo TV
Trade Views
Price Charts
News
Most Traded
Instruments
Editor’s Picks
Sentiment watch:
Open
orders/positions
Analysis & Models
Financial Calendar
Research and
Publications

20. TRADINGFLOOR - LEADERBOARD

21. TRADINGFLOOR – LEADER PERFORMANCE
888% profit

22. TRADINGFLOOR – COPY A TRADE

23. OPEN API

24. MORE ON OPEN API

25. OPEN FIRST
“On the back end side, we’re providing a
way to connect with other ecosystems
“A lot of people talk about ‘mobile first.’
Well, in our case we’re thinking ‘open
first’ for all future……..
…….we want people to be able to create
experiences that we can’t, niche
experiences for an audience that we might
not be addressing directly.”

26. SAXO BANK - OPEN API TEST PROJECTS
Project X1
Have written code which call the portfolio API’s to get better (more detailed) information about client
positions
Project X2
Working on a CFD mini trader
Project X3
Are developing a “Automated Managed Fund solution”
Project X4
Wants to deliver an options strategy platform as a supplement to Saxo Trader
Project X5
Will integrate elements of Saxo functionality with their current infrastructure to:
– Get better differentiation
– Get a better/broader offering than the competitors
Project X6
Very advanced Chart Package. Would like to co-develop a chart interface
– current interface for internal use only……

27.  Continued focus on cost and core competitive differentiators
- Regulatory and Compliance burdens only increases
 Legacy in IT infrastructure is becoming evident and visible to everyone
- No quick fix
- Tech. companies want a share of the pie
 Disruption is hurting existing revenue channels
- Hindering for real innovation
 Solutions
- New ways of thinking
- New partnerships
- Technical excellence
- Learn from other industries
- Sharing
INDUSTRY TRENDS – BANKING IS BEING DISRUPTED

28. THANK YOU