This document discusses what engages consumers in financial technology (FinTech) and how their engagement differs from those in the FinTech industry. It provides lessons on bridging the gap between consumer online and offline engagement, including focusing on the intended audience through filtering noise, learning from case studies globally, and emphasizing an attractive user experience and building trust. Transparency, attention to trends, and maintaining a consumer-centric approach are important to engaging consumers both online and offline.

1. What turns us on ?
NextBank Europe 2014
@sammaule

2. We are not the norm What turns us on in FinTech is not what turns on the average consumer. Case in point – Dave Birch.

3. We speak a different language

4. Consumers are a different breed
What turns them online is unique content. Right Grumpy Cat?

5. Consumer passion Consumers have passion for tech.. Not so much the underlying components (NFC, BLE, TSMs, etc.).

6. Consumer conundrum
Anticipating consumer adoption patterns is difficult at best. Who could have predicated the success of the Yo app..

7. The TAO of Sam
In 2000 I was a divorced father in my 30’s w/ 2 young daughters.. My team at the bank I worked at convinced me to give online dating a try. I met my wife of 14 yrs via this digital engagement model. Here are 4 lessons to apply from this experience in marrying the gap between consumer online and offline engagement.

8. Signal to Noise Ratio
Weed out the noise. Focus on what / who you are looking to engage with. Understand global markets for online & offline. Find case studies across global markets. But remember, just because a biz model works in one geo this doesn’t mean automatic success.. Case study: mPesa Keyna rollout vs Romania adoption.

10. Retail conundrum
Sources: Deloitte’s Top 10 Global Retailers

11. Internet accessibility

12. Global online marketplace

14. Mobile tipping point
In August of 2014 mobile payments volume reached a ‘’tipping point’.

15. “Smartphones are such a pervasive and insistent part of daily life that the proverbial visitor from Mars might conclude they were an important feature of human anatomy.”
U.S. Supreme Court finding, Riley vs California

16. ASIA
Mobile is the dominant retail shopping channel in the Asia Pacific region, where 32% shop with mobile as opposed to on 21% with PC

17. Africa
The most dominant mobile payment usage worldwide encompassing 52% of all mobile money services

18. Europe 12.4% of transactions originate from mobile devices, and most are for travel, ticketing, digital goods, or retail

19. North America
Mobile transactions have almost doubled since last year, now accounting for 17% of transactions made

20. Australia
Banks reported that 60% of transactions were done using NFC contactless payments in 2013

21. Latin America
There will be 22.31 million mobile payment users by 2016. Mexico, Brazil, & Chile have the highest M-Commerce adoption rate in Latin America, at about 30% adoption.

22. Unbanked mobile money

23. Attraction factor
Looks (consumer UX) & overall experience matter. Just as they do in online dating.

24. "Most people that have worked on this have started by focusing on creating a business model that's centered around their self- interest instead of focusing on the user experience.
We love this kind of problem. This is exactly what Apple does best."

25. Global Uberfication
Elegant & consistent user experiences build consumer trust.

26. Simple is hard
The Neo Banks such as Simple and Moven set the bar on consumer banking mobile interfaces.

27. Trust is foundational
Speaks for itself. Transparency in every aspect of consumer engagement is critical.

30. Barbarians at the gates
Tech is the most trusted industry. Remember, they aren’t new to payments. Many are on their 2nd or 3rd payments product launch.

31. Trust requires transparency

32. Refresh is required
Online and offline biz models are constantly evolving. Pay attention to both macro & micro trends.

33. Click to bricks
Warby Parker & other pure online merchants now migrating to a micro physical store space.

34. O2O - China Dragons
Alibaba’s success brings about competition. Wando, Tencent, and Baidu dedicated $800 mil with a promise of 10x that investment over the next 5 years to take on Alibaba. Their focus will be an Online 2 Offline biz model.

35. Disrupting the Disruptors
Venmo’’s daily transaction volume now exceeds that of Starbucks mobile app..

36. There is no offline
iBeacons, wearables, and biometrics all evolve us closer to the IOT & the extinction of ‘offline’.

37. Refresh is required
Signal to Noise Ratio
Attraction factor
Trust is foundational

38. Approach with the correct consumer centric mindset and the online / offline engagement can be truly magical.
And last a lifetime…

39. What turns us on ?
@sammaule
sam.maule@cgcginc.com
www.cgcginc.com