From Physical to Digital Banking

4. Financial institutions were built for the physical distribution of paper in a localized network Financial institutions need to design for the digital distribution of data in a globalized network

5. from Physical to Digital from Channel to Access from Product to Customer

9. RETAIL BANKING PRIVATE BANKING COMMERCIAL BANKING TRANSACTION BANKING INVESTMENT BANKING INSURANCE

15. RETAIL BANKING PRIVATE BANKING COMMERCIAL BANKING TRANSACTION BANKING INVESTMENT BANKING INSURANCE * Foundation Capital, 2014

30. Revenues Expenses October 2011 Launch of X.commerce API October 2011 Launch of X.commerce API June 2013 Launch of mobile API June 2013 Launch of mobile API

33. This is about more than currency and traditional payments… Asset Transfer with Finality Advanced Transaction Scripting (Ethereum) “Digital Scarcity” Near-Instant, Near Free International Value Transfer Transaction Scripting Open Access through API or Protocol Public Visibility of Transactions The First Killer-App? “Push Payment” by Design A new Custody Model? Smart Property Revolution in Retail “Programmable Money” “Economy of Things” A new model for AML Smart Contracts The Core Bitcoin Innovation

36. RETAIL BANKING PRIVATE BANKING COMMERCIAL BANKING TRANSACTION BANKING INVESTMENT BANKING INSURANCE Every single smart computer science person I’ve had look into it has reached the same conclusion — Blockchain is a fundamental breakthrough in technology “ Mark Andreessen ” http://techcrunch.com/2014/02/12/marc-andreessen-tech-is-still-recovering-from-a-depression/

45. from Physical to Digital = component-based finance from Channel to Access from Product to Customer

46. WEB/TABLET “SCREENS” 7–10 times per month CALL CENTRE, IVR & VOICE RESPONSE BRANCH 5–10 times per month 5–10 times per month ATM 3–5 times per month MOBILE 20–30 times per month 2016 Digital interactions with banks will outnumber branch interactions 300 to 1

47. Barclays took 13 years to get two million customers using internet banking. It took just two months to reach that number for mobile banking. The average Barclays customer visits a branch less than twice a month and uses the mobile app 26 times a month

48. Only 5% of customer interaction in the banking industry will be in branch by 2017 – BBVA

49. The old channel thing …

50. Augmented digital has no channels

51. CHANNELS Branch ATM/Kiosk Internet Call Center Mobile Direct sales Future PRESENTATION LAYER MULTICHANNEL LAYER LEGACY LAYER

52. ACCESS Branch ATM/Kiosk Internet Call Center Mobile Direct sales Future

54. from Physical to Digital = component-based finance from Channel to Access = rearchitect the core from Product to Customer

55. from Physical to Digital = component-based finance from Channel to Access = rearchitect the core from Product to Customer

60. You need to be social because that’s where your customers are.

61. Average Facebook user has 338 friends* 2,000 Likes = 676,000 Views Average cost to gain a registration: €1.33 Average cost to gain a fully KYC processed customer: €16.70 * Pew Research

62. Social capitalism… P2P payments Crowdfunding Social lending Alternative finance …the result of when work & life collide

63. from Physical to Digital = component-based finance from Channel to Access = rearchitect the core from Product to Customer = build communities

64. How to do this?

65. Agricultural Revolution coins Industrial Revolution notes and checks Service Revolution cards Digital Revolution chips

67. Within 15 years, “computers will be at human levels, such that you can have an emotional relationship with them.” Ray Kurzweil

68. “It’s not an operating system; it’s a consciousness”

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