2. 2
SunTec Confidential
Customers today require financial services
However not necessarily from traditional banks and bank networks
Bill Gates @ Sibos 2014-
“Competition already exists. Players are innovating to provide a
better, cheaper, faster service; and if these traditional leaders
don’t start considering their role in this space, they’ll lose
market share to upstarts”
INNOVATIVE
AGILE
Jamie Dimon-CEO, JP Morgan
“Silicon Valley is coming…......
3. 3
SunTec Confidential
Lending Payments Supply
Chain
Security Financial
Advice
FinTechs and Telcos are redefining the rules of the game!!
Entrants are competing with the banks head-on
“12000+ Fintech startups in market today
– McKinsey”
4. 4
SunTec Confidential
Customers today are digitally native
Digital banking has become the most important channel for delivering financial services
Ericsson:
By 2020, 80% of the mobile data traffic will be from
smartphones
Acuity Market Intelligence:
By 2020, 100% of the smart phone devices will include
embedded biometric sensors as a standard feature
5. 5
SunTec Confidential
Traditional banking is dying slowly
The time to act is now!!
McKinsey - >80% of corporate banks
believe digital attackers will be a
meaningful threat to their business
Aite Group research – 65% of
corporates feel that their financial
institutions do not understand their
needs
Accenture Research – Only 28% of the
banks have a comprehensive strategy
in place for digital and innovation
6. 6
SunTec Confidential
Corporate banks are lagging behind in their digital transformation
Their retail counterparts are far ahead!!!
Gartner – Estimated overall failure rate
of digital transformation projects is at
least 50% and will reach 70% by the
end of 2017
EY Global Commercial Banking Survey
2014 – Nearly one in five companies
reports having changed its primary
bank in the past year
BCG survey on corporate clients -
More than 70% indicated that digital
capabilities were an important factor in
assessing a corporate bank
7. 7
SunTec Confidential
Maximizing value in the digital ecosystem – A perspective
Banks need to think beyond payment transactions and innovate to add value across
the customer lifecycle
Customer
insights
Intelligent
offers
Omnichannel
orchestration
