A quick reference infographic visualizing "The Top 10 Trends In Banking Innovation" according to Chris Skinner's Blog. You can read the full article, on which the infographic was based, at http://upflow.co/l/kFLU/2016/02/the-top-ten-trends-in-banking-innovation.html

1. BANKING
INNOVATION
according to
10 Data Monetization
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Social Value Chain
Banks are recognising that their data analytics can leverage market opportunity
Customers are willing to pay for this, and the banks that offer such services are more sticky.
Banks don’t need to do all the work as customer can, and they want to.
Many banks are engaging customers in crowd sourcing ideas
Robot Force
There are a few gimmicky robot services out there, particular in Japan where robots
replaced tellers (I thought we had done the same in the UK until the teller moved and
I realised then they were human), but it’s not just robo-advisors that are taking off. .
The Banking of Things
We know the Internet of Things (IoT) is coming, and it will need The Banking of Things (BoT)
based upon the ValueWeb to support it, but things are already emerging in this space.
Intermediate Everything
It’s funny how I’ve heard about banks being disintermediated since the 1990s and yet they’re still here
and they’re now bigger. I don’t believe banks will be disintermediated or, as we now call it, unbundled.
Banks instead are reintermediating and rebundling everything and this trend proves it.
Distributed Payments
How about banking as a status symbol?
Show off my contactless bracelet (La Caixa, Spain), biometric tracker (RBC Canada and HBOS UK),
wearable suit (Heritage Bank, Australia), wearable everything (Barclays UK) and more.
The Top 10 Trends In
Talking Transactions
We used to have boring transactional statements, but many banks are bringing
transactions alive by integrating features and apps with other plug and play services,
like Google Maps, Facebook and Instagram.
Love those SMEs
SME – Small to Medium Enterprises or, if you prefer, small companies – have been relatively unloved
by banks in the past. They are high risk until established and, even then, unless they get to a certain
size – more than $100 million revenues – they can cause credit risk concerns.
Non-Stop, Always On
The 24*7 bank is here, and it doesn’t cut the mustard to be 9 till 5 anymore.
Equally, some banks are becoming more than just 24*7 by offshoring,
Everything is Personal
I like this one as I’ve talked 1:1 Marketing since the 1990s, but it’s finally happening, with one-size fits all
only applying to scarves these days. The fact is that we now have a fully enabled digital customer platform
where back office cloud and analytics can deliver real-time experiences through APIs anywhere, anytime.
Read the full article at http://upflow.co/l/kFLU/2016/02/the-top-ten-trends-in-banking-innovation.html
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