Kevin Blair CEO, NewGround. Retail 2020 FUTURE BANK

Transcription

1 Kevin Blair CEO, NewGround Retail 2020 FUTURE BANK

2 Today, the amount of global big data = megabytes gigabytes terabytes petabytes exabytes SOURCE: Cisco Global Mobile Data Tracking Update (February 6, 2013)

3 By 2015, the amount of global big data = megabytes gigabytes terabytes petabytes exabytes it will be nearly zetabytes SOURCE: Cisco Global Mobile Data Tracking Update (February 6, 2013)

4 Today, there is one networked device per every person on earth...

5 By 2015, that number will double.

6 By 2020, that number will increase to 7 devices per person on earth...

7 In a Digital Minute ,000,000 s 2,000,000 searches 1,000,000 tweets 6,000,000 views 1,300,000 views

8 Digital devices take over Americans spend roughly 58 minutes per day in smartphone usage. SOURCE: Experion Marketing Services (May 28, 2013) & Survey of 2,000 U.S. Smartphone Users Lookout (July 2012)

9 Digital devices take over 30% check during a meal with others. 24% check while driving. 40% check while using the bathroom. (8-34 year olds, it s 51%) 58% rarely go an hour without checking their phones. 54% check while lying in bed. (18-34 year olds, it s 74%.) 9% check during religious services. SOURCE: Experion Marketing Services (May 28, 2013) & Survey of 2,000 U.S. Smartphone Users Lookout (July 2012)

10 IT IS... TEOTRWAWKI (THE END OF THE RETAIL WORLD AS WE KNOW IT)

11 Technology has shifted the balance of power

12 Digital channels have changed the paradigm

13 Leading to the consumer-centric, omnichannel world

14 WELCOME TO THE OMNICHANNEL WORLD

15 What consumers want... 24/7 (immediate, how/when/where I want) Personally Relevant (custom fit for me & my needs) Social (transparent, recommended by my peers)

16 How consumers bank... Branch Traditionalist Ultra- Connected Virtually Domiciled Use Branch Use All Channels Use Remote Channels 32% 35% 33% SOURCE: Novantus U.S. Multichannel Customer Research, 2012

17 The top 14 banking activities: SOURCE: Gallup Business Journal, May Open/close account Apply for loan Seek financial advice Report a problem Inquire about fees Make deposits Withdraw money Learn about products/services Request a loan payoff amount Receive statements Request specific information Transfer funds Pay bills Receive alerts

18 How consumers want to do them: Open/close account Apply for loan Seek financial advice Report a problem Inquire about fees Make deposits Withdraw money Learn about products/services Request a loan payoff amount Receive statements Request specific information Transfer funds Pay bills Receive alerts SOURCE: Gallup Business Journal, May 2013

19 Using both physical & digital channels

20 RIGHT-SIZING WHAT S WRONG

21 Branch Networking Then BRANCH PURPOSE: Convenience Transactions Sales Relationships

22 Branch Networking Now FLAGSHIP FULL-SERVICE EXPRESS MICRO

23 WHAT OTHERS ARE DOING

24 Umpqua Bank PACIFIC NORTHWEST

25 FLAGSHIP UMPQUA BANK, SAN FRANCISCO

26 ING Direct Café SAN FRANCISCO

27 Acru Wealth Bank WOODSTOCK, GA

28 State Farm Next Door Café CHICAGO

29 Chase Micro Branch SAN FRANCISCO

30 PNC Mobile Branch ATLANTA

31 MAKING sense

32 1. Start with Why Before you choose a technology, evaluate your desired customer experience and determine if/how technology can improve it. Delta ipad Deployment, LaGuardia

33 2. Aim, then Fire Have a clear objective for your digital intent what s the business goal? Tech for tech s sake is just a shot in the dark. Bank of the West Technology Bar, Brea CA

34 3. Content is forever king Wires and pixels don t connect to your customer; content does. Don t just plan your technology, plan to transcend it with home-run-hitting creative content. Capital One Bank Digital Wall, Austin TX

35 4. Location, location Consider your consumer s retail journey, both physical and virtual; ensure technology placement and integration support the business intent. Tesco Home Plus Virtual Store, Subways in London & South Korea

36 5. Before you go big, go small Test, track, learn, repeat. Pull in as much data as you push out. The more you refine, the more on-target you ll be. Wells Fargo Testing Playground & Micro Branch, DC

37 The Future is Now VIRGIN MONEY, MANCHESTER, UK

38 Kevin THE DIGITAL WORLD