The financial services industry is rapidly becoming digitally disrupted. As fintech startups continue to emerge, big banks and wealth management enterprises feel the pressure to invest in innovation.
Find out how traditional financial service enterprises can compete with fintech startups in this SlideShare.
3. www.solstice-mobile.com3
In 10 years, it is predicted that
40% of the Fortune 500
companies will no longer exist.
- Fast Company
www.solstice-mobile.com3
16. www.solstice-mobile.com16
To keep up, established financial
institutions must embrace the concept of
E M B R A C E I N T R A P R E N U E R S H I P
intrapreneurship“ “
18. www.solstice-mobile.com18
What is an
E M B R A C E I N T R A P R E N U E R S H I P
intrapreneur?
A person in an established organization that has freedom
and resources to innovate, and can do so outside the
company’s standard processes and bureaucracies.
19. www.solstice-mobile.com
E M B R A C E I N T R A P R E N U E R S H I P
19
How do you spot
an intrapreneur?
www.solstice-mobile.com
20. www.solstice-mobile.com
E M B R A C E I N T R A P R E N U E R S H I P
20
How do you spot an intrapreneur?
www.solstice-mobile.com
✓ They are risk takers
✓ They look for ways to circumvent established protocols in order to get things done
✓ These are the types of people that create new roles or positions for themselves
✓ They write their own job descriptions
✓ They are proud of where they work and are walking advertisements for
their businesses
✓ They are “seize the opportunity” type of people
21. www.solstice-mobile.com
E M B R A C E I N T R A P R E N U E R S H I P
21 www.solstice-mobile.com
Do not let intrapraneurs
become lone wolves, or
people will sit back and expect
them to carry the whole load.
22. www.solstice-mobile.com
E M B R A C E I N T R A P R E N U E R S H I P
22 www.solstice-mobile.com
Surround them with a cross
functional team and provide
adequate resources.
23. lessons from
fintech startups
• this is a bullet point
• this is another bullet point
• are you seeing a pattern?
E M B R A C E I N T R A P R E N U E R S H I P
People can invent things
alone,but nobody can
innovate alone.
23 www.solstice-mobile.com
27. www.solstice-mobile.com27
Efficiency gains
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
These apps are making everyday transactions
simpler from a mobile perspective.
1
28. www.solstice-mobile.com28
Efficiency gains
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
These apps are making everyday transactions
simpler from a mobile perspective.
1
Automations for saving and investing2
29. www.solstice-mobile.com29
Efficiency gains
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
These apps are making everyday transactions
simpler from a mobile perspective.
1
Automations for saving and investing
These apps are being trusted to make my
money work.
2
30. www.solstice-mobile.com30
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
Enterprises need to focus on the
latter
31. www.solstice-mobile.com31
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
Enterprises need to focus on the
latter
(automations for saving & investing)
32. www.solstice-mobile.com
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
In the future, customers will expect their
banks to not only allow secure
administration of their money but to also
be making their money work more
efficiently for them…
www.solstice-mobile.com32
33. www.solstice-mobile.com
C A P I TA L I Z E O N N E W O P P O R T U N I T I E S W I T H D I G I TA L
In the future, customers will expect their
banks to not only allow secure
administration of their money but to also
be making their money work more
efficiently for them…
www.solstice-mobile.com33
“Automagically.”
35. www.solstice-mobile.com35
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Fintech startups earn market share by establishing
emotional connections with customers.
36. www.solstice-mobile.com36
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
But established enterprises have the
luxury of an existing customer base.
37. www.solstice-mobile.com37
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
There are 2 ways enterprises can
deepen the emotional connections
with their customers
38. www.solstice-mobile.com38
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Through the
use of their
product or
service
1
39. www.solstice-mobile.com39
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Through marketing channels2
40. www.solstice-mobile.com40
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Some advice to get started
41. www.solstice-mobile.com41
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Use human centered
design practices to
build empathy for your
prospects & customers.
42. www.solstice-mobile.com42
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Map journeys
through the
touchpoints with
your product or
service to identify
opportunities for
engagement.
43. www.solstice-mobile.com43
D E E P E N T H E E M O T I O N A L C O N N E C T I O N W I T H Y O U R C U S T O M E R S
Explore digital ecosystems and determine how to
make emotional connections through partners
or third party services, specifically on mobile
45. www.solstice-mobile.com45
E N A B L E Y O U R E M P L O Y E E S W I T H N E X T- G E N T O O L S
Employee expectations are increasing
46. www.solstice-mobile.com46
E N A B L E Y O U R E M P L O Y E E S W I T H N E X T- G E N T O O L S
More and more people place more
and more significance on the tools
they are given to do their job.
47. www.solstice-mobile.com47
E N A B L E Y O U R E M P L O Y E E S W I T H N E X T- G E N T O O L S
You must provide the latest and
greatest tools to empower your staff.
48. www.solstice-mobile.com48
E N A B L E Y O U R E M P L O Y E E S W I T H N E X T- G E N T O O L S
While startups
begin with
everything in
the cloud
49. www.solstice-mobile.com49
E N A B L E Y O U R E M P L O Y E E S W I T H N E X T- G E N T O O L S
enterprises
need to keep in
mind current
backend systems
and platforms
50. E N A B L E Y O U R E M P L O Y E E S W I T H N E X T- G E N T O O L S
Think about opening up APIs,
internally or externally
to allow innovation &
experimentations with your staff.