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Google Confidential and Proprietary
September 11, 2013
Niall McKinney CEO, The Knowledge Engineers
Global Consumer Finance Trends
Google Confidential and Proprietary
Global Digital Financial Trends
1. The New Customer Journey
2. Always On Finance
3. Finance Has A Trust Problem
4. The Social Bank
5. Empowering With Data
Google Confidential and Proprietary
1. NEW CUSTOMER JOURNEY AND FINANCE ZMOT
Google Confidential and Proprietary
Finance ZMOT
Google Confidential and Proprietary
Finance ZMOT
Google Confidential and Proprietary
Evolution: US Customers Using Online/Mobile
Source: Pew Research 2013
Google Confidential and Proprietary
2. ALWAYS ON FINANCE
Google Confidential and Proprietary
Always On
• People are constantly interacting and creating.
• Marketers must discover and communicate with
customers across multiple channels in real time - with
authentic content that constantly responds to and
drives fresh conversations
Google Confidential and Proprietary
Always On – Latin America
57.3%
2009
72.9%
2015
Mobile Penetration
60.9% of
internet
users
2010
74.9% of
internet
users
2014
Social Media Usage
Google Confidential and Proprietary
Mobile Time Spent Brazil
Google Confidential and Proprietary
Best of Breed Mobile Banking
Google Confidential and Proprietary
From Mobile Banking To Mobile Money
Google Confidential and Proprietary
Progressive Snapshot
Google Confidential and Proprietary
3. FINANCE HAS A TRUST PROBLEM!
Google Confidential and Proprietary
63% of consumers say they cannot trust any bank
Source: YouGov SixthSense September 2012
Consumer Trust in Financial
Services
Google Confidential and Proprietary
• Bigger banking brands elicit more trust (28%) compared with the
smaller names (22%)
• 62% strongly agree that brands behaving fairly and transparently
with their customers would encourage trust.
Source: YouGov SixthSense September 2012
Consumer Trust in Financial
Services
Google Confidential and Proprietary
Finance Worse Of All Industries
Source: Edelman Global Trust Barometer
Google Confidential and Proprietary
Trust Low In Brazil Too
Google Confidential and Proprietary
4. The Social Bank
Google Confidential and Proprietary
The Social Bank New Form of Participation and Engagement
Citi Talks Hangouts with executives of the bank: topics
from career to financial education, presented in a simply,
engaging and interactive way.
# CitiSimplicity
Multi-person video chat
with live broadcasting
Citibank Hangout with Mom.me in
Back to School period
Google Confidential and Proprietary
The Social Bank Go Beyond Comments – Invite Your Customer to Real Conversations
Invite your clients to a new experience: face to face customer service and financial
advisoring via Hangouts
Exchange Ideas and react in real-time, transforming corporate into personal
Make your brand more personal and raise the level of dialogue,
invite customers to interact with live questions
Drive more engagement promoting debates about Finance topics and invite bank
executives and specialists as mediators
Google Confidential and Proprietary
Itaú: Amplify Corporate Responsibility
Hangout uses technology to bring people together and expand the reach of a
social project, promoting culture of reading through Internet
Google Confidential and Proprietary
• People are concerned with security and privacy issues
• Adopting social “business strategy” must transcend transactions,
spanning:
• Marketing
• Sales
• Customer service
Social Banking Is Not Just A Page
Google Confidential and Proprietary
‘The First Social Credit Card’
Google Confidential and Proprietary
Transparency - Show Profit One Year On
Source: Barclaycard Ring Annual Report, 2013
Google Confidential and Proprietary
Microfinance 2.0
Google Confidential and Proprietary
SIM only, Low prices, 100% online, No call centres, Mutual, Transparent, 14 full time staff
Google Confidential and Proprietary
5. DATA CAN EMPOWER FINANCE CONSUMERS
Google Confidential and Proprietary
90% of the data in the world today has been created in the last two years alone
80% of it is unstructured
Everyday, we create 2.5 quintillion bytes of data
The money generated by big data sector will dwarf the $160 billion cloud computing industry
Data Has Exploded
Source: IBM
Google Confidential and Proprietary
42%
of businesses had invested in big data technology, or were planning to
do so within a year
Data based decisions can help save consumers money
Data is Money
Source: Gartner, 2013
Google Confidential and Proprietary
Dash Informs Insurance
Google Confidential and Proprietary
State Farm & GM
Immediate 5% discount just for signing up
Google Confidential and Proprietary
Google Confidential and Proprietary
Data Informs Consumer Spending
Google Confidential and Proprietary
Lloyds Money Manager
Over 140,000
people asked for
the service before
launch
Google Confidential and Proprietary
PlayMoolah
Google Confidential and Proprietary
Global Digital Financial Trends
1. The New Customer Journey
2. Always On Finance
3. Finance Has A Trust Problem
4. The Social Bank
5. Empowering With Data