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Presentation Innovation, Key Success Factor for Growth
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Copyright ABN AMRO Bank N.V. 2010
Innovation, Key Success Factor for Growth
Pascal Spelier
5th Annual SME Banking
20th – 21st October 2010, Hotel Hilton Vienna, Austria
21 october 2010 2
Pascal Spelier, that’s me
21 october 2010 3
ABN AMRO, this was then, this is now
ABN AMRO (since 1824) was a global top-15 bank– 4 home markets: Netherlands, US, Brasil and Italy– Total Assets EUR 987 bln at end 2006, 105.000 employees globally
In 2007: – Lasalle sold to Bank of America– Banco Real & Antonveneta to Santander– Dutch Wholesale clients + international network to RBS– The Dutch bank excluding Wholesale clients has been bought by Fortis
In 2008:– The Dutch government bought ABN AMRO and Fortis Netherlands
In 2010:– Integration of ABN AMRO and Fortis Netherlands, total assets EUR 408 bln, 28.000
employees
21 october 2010 4
Introduction
What are the key drivers for innovation?
Trends to be taken seriously
Innovative cases from around the world: get inspired!
21 october 2010 5
Introduction
What are the key drivers for innovation?
Trends to be taken seriously
Innovative cases from around the world: get inspired!
21 october 2010 6
Key drivers for innovation
Growth by distinction
Changing World, changing customer
New rules imposed by the Network Economy
The Credit Crunch, let’s start all over
21 october 2010 7
Key drivers for innovation
Growth by distinction
Changing World, changing customer
New rules imposed by the Network Economy
The Credit Crunch, let’s start all over
21 october 2010 8
Growth by distinction
Innovation is making companies grow
Gartner predicts:
By 2013, 50 per cent of banks will still lack a formal innovation programme and budget, severely restricting growth potential.
Competition forces banks to become more efficient and stimulates innovative behaviour
21 october 2010 9
Key drivers for innovation
Growth by distinction
Changing World, Changing Customer
New rules imposed by the Network Economy
The Credit Crunch, let’s start all over
21 october 2010 10
Changing World, Changing Customer
Customers become ‘self directed’ and listen to the ‘wisdom of crowds’
Customers demand transparancy and simplicity
The future is about service: listen, learn and adapt
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Customers become ‘self directed’
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Customers become ‘self directed’
ABN AMRO YourBusiness Banking:
Service concept for Small Companies (< 1 mil. turnover)
Arrange the most of your banking business online and via a customer contact center (24/7)
Specialist is available in case of ‘tailored made’ events
This concept led to an increase of
cross-sell from 2.3 to 4.1
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Customers listen to the ‘wisdom of crowds’
21 october 2010 14
Customers listen to the ‘wisdom of crowds’
21 october 2010 15
Customers demand transparancy and simplicity
21 october 2010 16
Customers demand transparancy and simplicity
21 october 2010 17
Key drivers for innovation
Growth by distinction
Changing World, changing customer
New rules imposed by the Network Economy
The Credit Crunch, let’s start all over
21 october 2010 18
New Rules imposed by the Network Economy
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Network Economy rules
Scarcity versus Plentitude
Capital, Labour and Materials versus Media, Sofware and Services (knowledge driven society)
Gradually versus Exponential Growth
Buying versus Free
Harmony versus Disruptive Innovation
The elimination of intermediate trade
People are spending more time online
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Scarcity versus Plentitude
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Scarcity versus Plentitude
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Gradually versus Exponential Growth
21 october 2010 23
Harmony versus Disruptive Innovation
September 15th 1995 Registration of www.google.com domain
December 1998 The best search engine
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Buying versus Free
21 october 2010 25
Buying versus Free
21 october 2010 26
Buying versus Free
21 october 2010 27
The elimination of intermediate trade
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People are spending more time online
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Key drivers for innovation
Growth by distinction
Changing World, changing customer
New rules imposed by the Network Economy
The Credit Crunch, let’s start allover
21 october 2010 30
The Credit Crunch, let’s start all over
An 8 trillion bubble in the US Housing market created a financial crisis
21 october 2010 31
Credit Cruch versus Innovation and Marketing
The Credit Cruch created the current recession
Immediate damage control diminishes innovation power in the short term
The fundament of trust must be rebuild.
The meaning of marketing will change
21 october 2010 32
The future of finance is back to the roots
Greed
Reliability
Profit and shareholders value
Global bank = trust (bigger is better)
Fear (for the present)
Transparent and simple
Ethical, sustainable
Nearby banking = trust (small is beautiful)
Purchase drivers before the
credit crunch
Purchase drivers after the
credit crunch
Source: The Future of Finance, From Credit Crunch to New Perspectives, Roger Peverelli & Ajiedj Bakas, nov. 2008
21 october 2010 33
World’s smallest quiz
Who said:“The Internet? We are not interested in it“
21 october 2010 34
Introduction
What are the key drivers for innovation?
Trends to be taken seriously
Innovative cases from around the world: get inspired!
21 october 2010 35
Trends to be taken seriously*
Non-banking competitors, such as retailers, online companies and telecommunications companies, are making inroads into the banking industry
Social Media is not a fad
Crowdfunding, will it survive the hype?
* Just a few
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Non-banking competitors enter banking industry
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Is Social Media a Fad?
Social Media isn’t a fad, it’s a fundamental shift in the way we communicate
Stills from Youtube movie ‘Social Media Revolution 2’
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What are they saying about your brand?
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What are they saying about your brand?
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What are they saying about your brand?
No webcare team
It took a few weeks to react
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Crowdfunding, will it survive the hype?
Crowd funding describes the collective cooperation, attention and trust by people who network and pool their money together, usually via the Internet, to support efforts initiated by other people or organizations
21 october 2010 42
Crowdfunding, will it survive the hype?
21 october 2010 43
ABN AMRO Incubator does research on crowdfunding as a alternative means of financing
Does the equitygap exist?
Or is it all about the success gap or readiness gap?
ABN AMRO does research on a crowdfunding platform
21 october 2010 44
Introduction
What are the key drivers for innovation?
Trends to be taken seriously
Innovative cases from around the world: get inspired!
21 october 2010 45
Case: The Receivables Exchange
Usual sources of credit and loans are tighter than ever
An eBay-Like Receivables Site Eases Liquidity Crunch
Monetizing receivables into cash
Access to working capital when a company needs it, on their own terms Who needs a bank for Asset Based Lending?
21 october 2010 46
Case: Outright, free companies from accounting
Small business companies can import bank statements and invoices
Get an overview of your expenses and your profit and loss
Save time
21 october 2010 47
Case: ABN AMRO, bookkeeping in 5 minutes
Integration of online banking and online bookkeeping
No data entry anymore, let your SME-customer import bank statements automatically in their bookkeeping.
Save your SME-customers time
Bookkeeping
in 5 minutes
Banks can do more than just providing
bank statements
21 october 2010 48
Case: Barclays Credit Focus
Late payments and bad debt are two of the most common causes of business failure
Barclays created a comprehensive and easy-to-use online credit management service
Checking, monitoring and chasing the businesses you trade with
21 october 2010 49
Case: ABN AMRO Creditfocus
Together with Barclays, ABN AMRO introduced Creditfocus (DebiteurenZeker) in the Netherlands
Barclays delivers the service, ABN AMRO get’s a kickback fee
New services arise from partnering with other
banks and / or companies in the supply chain
21 october 2010 50
Lessons Learned
Changing World, Changing Customers, Competition and the Credit Crunch are drivers for innovation
Non-banking competitors are making inroads into the banking industry
Social Media: do you like what they say about your brand?
Out-of-the-Box thinking can lead to new services for your SME-customers.
What did you learn from this presentation?
21 october 2010 51
21 october 2010 52
Thank you for your attention
Pascal Spelier
Senior Marketing Manager
ABN AMRO Commercial & Merchant Banking
www.abnamro.nl
www.twitter.com/spelier