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Customer Experience
Customers at the Front & Center of Business Customer Experience & Banking Hello Omnichannel! Omnichannels for FSs
Corporate social responsibility at the sales coalface no more only 'what's in it for me'
Behaviour
They want a partner in their daily lives, not just a product or service
Flow out!
Source: Harvard Business Review | People Are the New Channel, April 2013
7%
8%
2013 2012
from a reactive find-and-fix mentality to one that aligns employees, partners, processes, and technologies around customer goals and uses emerging capabilities to deliver new value.
Just 5% deposits are held by banks competing in regions with less than 15 Fls.
89
66% of all deposits are held by banks competing in regions with more than 15 Fls.
41%
82 82
18%
38
Source: Optirate | Retail Banking is more competitive than most believe, 2011
Financial Institutions
40
7%
24 6 13
6% 1% 4%
< 10 11-15
9%
13%
24 REGIONAL BANKS
37% 30%
Share of Lost Relationships
30% 28%
Share of Lost Relationships
4 DIRECT BANKS
Share of New Relationships
8.0%
31% 28%
3.5%
07%
2000 2005 2006 2007 2008 2009 2010 2011 2012 Proj 2000 2005
1.0%
2012 Proj
The two most important differentiators are CX PRACTICES OF GROWTH that growth banks have invested in technol- VS. NON-GROWTH BANKS ogy that helps to close the loop between cus- There are four foundational customer experitomers who report a problem, indicate a need ence practices that differentiate Growth Banks or recognize an employee who performs well. from their Non-Growth competitors. Growth banks and credit unions also have a set of criteria they follow when prioritizing, funding Source: Bank Marketing Strategy | All Bank Customer Experience Initiatives are Not Created Equal, June 2013 and resourcing customer-aligned initiatives.
Non-Growth Banks
Growth Banks
71%
points
42
60%
points
39
29%
21%
69% 63%
points points
27
34
42%
29%
COMMON UNDERSTANDING OF CX
The fastest growing financial services institutions are retailers, grocery store chains and automotive companies. They have adopted the omnichannel (approach) more aggressively than the banking industry
Ralph Silva
Source: Bank Marketing Strategy | Banking Leaders Discuss 2013 Strategic Planning Activities, July 2013 See also: Gartner |Gartner Says Customer Experience Enters Top 10 CIO Priorities for 2012, April 2012
Hello Omnichannel !
Which way should I go? In an omnichannel world, it doesnt really matter; the customer will have a consistent, frictionless journey regardless of the road she chooses to take, accompanied by his preferred device and, increasingly, devices.
CONTEXT DRIVES DEVICE CHOICE Today consumers own multiple devices and move seamlessly between them throughout the day.
The device we choose to use at a particular time is often driven by our CONTEXT
LOCATION
Our
SEQUENTIAL USAGE Moving from one device to another at different times to accomplish a task
43%
43%
Social Networking
Shopping Online
Managing Finances
Planning a Trip
SMARTPHONES
TABLETS
PC / LAPTOP
Smartphones are the most common starting place for online activities
63% 30
66 30%
65 25%
65 29%
59 34%
47% 38
56 34%
58 24% 5% 6
58 27% 8 4%
61% 19 4 5%
60 % 23% 4% 6
56% 29 3% 6
45 % 31% 3 7%
48 24% 8% 10 %
SMARTPHONES
TABLETS
PC / LAPTOP
Tablets are most often a starting point for shopping and trip planning
Started on a tablet
7%
4%
11%
7%
7%
15%
11%
Social Networking
Shopping Online
Managing Finances
Planning a Trip
Continued on a smartphone
1% 6%
2% 3%
0% 10%
1% 6%
1% 6%
1% 14%
2% 9%
Continued on a PC
SMARTPHONES
TABLETS
PC / LAPTOP
PCs are most often a starting point for more complex activities
Started on a PC
30%
30%
25%
29%
34%
38%
34%
Social Networking
Shopping Online
Managing Finances
Planning a Trip
Continued on a smartphone
24% 6%
27% 4%
19% 5%
23% 6%
29% 6%
31% 7%
24% 10%
Continued on a tablet
NOW
THEN
Source: McKinsey & Co | Winning the customer decision journey, December 2011
THEN
Buy
Experience
Branch
Social
Mastering digital channels: from a single moment of truth approach to a global client lifecycle approach
Optimised channels all over the customer lifecycle Increasing client knowledge
ATM
Branch
Mobile
Social media
Tablet
High
Low
In grocery store or metro station, with staff member for quick service
Kiosk
For remote deposit capture, alerts related to accounts, alerts on homes for sale, etc
Mobile applications
Pay bills; buy airline tickets, stamps, transit system passes; or other third-party transactions
Smart ATM
Video conferencing
Touch-screen wall
Unstaffed center connected via video to remote office for credit applications
Credit center
Mobile
Social
Video
Source: Cisco IBSG | Winning Strategies for Omnichannel Banking, June 2012
The percentage of US Studies indicate that 47% customers who prefer to bank of US banking customers believe online jumped to 62% in 2011, that a bank is not even legitimate up from 36% in 2010 unless it has branches, up from 41% only a year ago
73% 70% 6% 70% 20% 69% 76% 75% 53% 5% 70% 39% 59%
3% 7% 3% 4% 10%
9% 7%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
What Consumers want from financial institutions I would feel more confident in buying goods and services through a mobile phone if i coul do so through an app offered by my bank. Among smartphones owners
Agree
100% 80% 60% 40% 20% 0%
Source: Monitise/Future Foundation/nVision Base: 500 online respondents per country who are aged 16+ and own a smartphone, 2013
Agree strongly
Spain
UK
Germany
Mobile Capabilities Considered Most Valuable (North America) Respondents clearly have a preference for mobile banking, (however)its important to note that they do not want it to replace other channels. ... and are verysupportive of using multiple services in an omnichannel environment.
Source: Cisco IBSG | Winning Strategies for Omnichannel Banking, June 2012
22
Real-time expense tracking and money management Remote check deposit by talking a picture Mobile phone acts as a payment mechanism, replacing cards / cash Shopping offers based on location Peer-to-peer payments Being recognized upon entry into a bank branch or retail store for more personalized services Customer support from my bank using natural language query
Do not know
N= 1,671
Social is not another channel, its a whole new way of doing business and its key to customer experience. Customer experiences are about touchpoints and touchpoints are by definition social. Guess what is a key focus in 2013? Indeed, social. Not as just another channel but as a whole new way of doing business. Gartner predicts that by 2014, refusing to communicate with customers via social channels will be as harmful to the relationship as ignoring their emails or phone calls is today. Our discussions with service providers and end users indicate that CRM services are shifting from a focus on point solution deployment centered on application suites, to a customer experience that brings together customer information, analytics, workflows, mobility and social CRM disciplines into a richer, multichannel access to capture the entire customer journey.
Source: Gartner | Analyst, Ed Thompson
26 percent said that video conferencing with a remote expert would enhance their experiencewhen the expertise was not available in the branch.This makes video a key feature and experience enhancer for unmanned banking kiosks,after-hours multipurpose ATMs, and next-generation virtual banking delivered to homes and Offices. Interestingly, those most interested in video as a banking channel tend to be GenX customers who are also in the early-majority group when it comes to technology adoption.This shows that video is ready for mass adoption above and beyond younger, tech-savvyconsumers.
Global Snapshots
A quick look at some examples of omnichannels in the financial services industry and other leading retail businesses and some notable providers of omnichannel technology solutions.
Experience Design
GLOBAL SNAPSHOTS
ithin this reality, customers choose to interact with companies through any channel, at any time and from wherever they may be, in a simple, convenient and pleasant way - in short, they are demanding an omnichannel experience. To provide an omnichannel experience means to go a step beyond the multichannel, overgoing the concept of channels as silos, the connectivity gaps between channels and the limited supply in digital channels.
The omnichannel vision is already being applied in certain consumer-related areas, such as in the ROPO effect (research online, purchase offline), which describes the customer who researches on the internet and buys in the physical channel, or in some models developed in the distribution industry, such as the online purchase and in store pick up, or the purchase of geolocated deals.
n banking there is no doubt that omnichannel is the way to go. The key is to be able to articulate this process and to generate a strategy that results in a differentiated omnichannel experience for customers, increasing their satisfaction, recommendation and engagement.
Based on a customer-centric vision, this strategy will be implemented with a clear message: BBVA Banking Anywhere (BBVA donde ests), which is the main message of the first global campaign for a bank in the omnichannel field.
BBVA wants to offer its customers the best way BBVA is a pioneer in having an omnichannel to access its products and financial services, vision and strategy. A strategy based on the in a fast and easy way, wherever they are and following pillars: with their channel of preference. BBVA wants to make sure its clients know that these services are available and that they understand their benefits they can choose how they want to connect with us. This is the transformation path designed by BBVA to make the omnichannel vision happen.
Become the bank best valued in Customer Experience in all geographies, segments and channels (IReNe) Raise digital channels penetration in our client base and become leaders vs. competitors
Innovation Forecast
The journey towards customer centricity is really just beginning. Though we are continuously learning as we try to figure this out; here is our sharing, so far, on the customer experience framework, the design, and keys for survival in this new world.
A new framework
Multidimensional context, Multi-device usage no constant environment. Holistic approach. Systems thinking
Personas (user profile) Contextual inquiry ONE context Single channel evaluation Sitemaps, wireframes Navigation design Design consistency Efficient task design Platform & resolution optimized designs
Personas + day in the life + user journey Multi-dimensional Usage scenarios Cross-channel experience analyses Experience maps, systems models Navigation design + cross channels connections Design consistency + cross channel continuity Cross channel task breakdown Platform & resolution optimized + channel and device designs
Source: Infosys | Finsights, January 2013
for designing CX
A few tips to remember when designing CX:
1.
ar thinking framework to a holistic approach where there is no constant environment: multidimensional context, multi-device usage.
2. Consider Cus-
2.
3.
3. Organize around
ing still need analytics and metrics. Identify CX initiatives that lead to tangible ROI and reward by customer-driven metrics.
4. Optimize
publications
Books &
In depth
A list of links to other useful tools and resources that you may find useful as a supplement to the information offered on the Experience Design report.
On the
web
Web
AdExchanger | Google Is Pushing An Omni-channel Mindset. Are You Ready?, 2013. Bank Innovation | Increasing Customer Acquisition and Retention with Predictive Analytics, 2013. Bank Marketing Strategy | All Bank Customer Experience Initiatives are Not Created Equal, June 2013. Bank Marketing Strategy | Banking Leaders Discuss 2014 Strategic Planning Activities, July 2013. The Banker | Social Banking in the Omnichannel Era. Ben Evans | Twitter, canvases and cards, 2013. Financial Times | Big Data in the Spotlight as Never Before, 2013. FinExtra | ASB Bank Pilots Customer Video Conferencing Facility for PC and Mobile, 2013. Finovate Blog | Lodo Software Launches D3 Banking to Help Banks Deliver a Personalized Customer Experience, 2013. The Financial Brand | Experiments With Pinterest In Retail Banking Fail Miserably, 2013. Forrester | Outside In: The Power of Putting Customers at the Center of Your Business (video). Gallup | How Customers Interact With Their Banks, 2013. Martin Gill | Agile Commerce - Thats Forresters Word for Omnichannel, Right?, 2013. i95dev | Applying Gartners Nexus of Forces to Retail, March 2013. Inside Intercom | Why Cards Are the Future of the Web, 2013. Geoff Livingstone | What Comes First, Multichannel Integration or Social Business?, 2013. MIT Sloan Review | Competing in the Age of Onmichannel Retailing, 2013. Optirate | Retail Banking is more competitive than most believe, 2011. Chris Skinner | Project New mBank. Perhaps the Worlds Most Innovative Online Banking, 2013. SmartCompany | The 12 sales trends that will drive 2013: Report sneak peek, December 2012. Brian Solis | The Conversation Prism, 2013. Wall Street Journal | Banks Using Big Data to Discover New Silk Road, 2013. webcredible | Omni-channel Customer Experience, November 2012.
1 Trending issues
Summaries of the most relevant news of selected topics that have been published over the course of the period based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
2 Technology trends
In the following section, we outline the upcoming technologies that will change everything, with predictions on what may come of them in financial industry.
Innovacin
Highlighted in this section some of the actions in which BBVA Innovation Center takes part, on innovation and entrepreneurship. Through this section we also provide direct access to the BBVA Innovation Center events.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
The Core Banking market is poised to grow through 2017; a modest 4% growth rate, steadily growing to a market size of $10.7B
Though decision-making related to core banking technology is dependent on local circumstances, three global trends are observed: 1. Banks are increasingly willing to consider core replacements, whether big bang or phased (which is dependent on size). 2. Cost and customer demands for agility are key drivers motivating banks to finally make the switch. 3. Vendor products have matured enough that the trepidation banks have typically felt may no longer be warranted.
Sopra ERI Accenture 3% 3% 2% CSC 4% Other 5% Infosys 6% SAP 6% TCS 6% Oracle 6% Misys 14%
FIS 24%
Temenos 21%
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Learn about Banking at Allied Irish Banks The Lab, a digital banking showroom
The space at the Lab is divided into five zones: 1. The Quick Banking Zone: ATMs, card kiosks, phone booth, and social media wall. 2. The Product Zone: a showcase of AIBs products, services, and innovations. 3. The Mobile Banking Zone: dedicated to mobile banking, featuring an interactive table and a display of AIBs mobile banking devices/services. 4. The Lounge & Learning Zone: an area to interact with experts, with a digital learning wall and play area for children. 5. The Business Banking Zone: for business customers to network and conduct meetings, with remote access to specialists Customers now choose how they wish to interact with AIB in the way that suits them best, said a spokesperson.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Top Banking Apps Top 10 10 Highest Highest Rated Rated iOSMobile Android Banking Apps
01 - RBS Citizens 4.5 stars, 93% favorable reviews 1. USAA 4.6 stars, 95% favorable reviews 02 - Charter One 4.0 stars, 91% favorable reviews 2. Citizens iPad 4.5 stars, favorable reviews 03RBS - KeyBankfor 4.097% stars, 83% favorable reviews 04 - City National 4.0 stars, 76% favorable reviews 3. AmEx 4.4 stars, 91% favorable reviews 05 - Santander 3.5 stars, 83% favorable reviews 4. Fargo Bank 4.3 stars, 90% favorable reviewsreviews 06Wells - Associated 3.5 stars 76% favorable 07 - Huntington Bankfor iPad 3.5 stars, 75% favorable reviews 5. BofA 4.2 stars, 88% favorable reviews 08 - US Bank 3.5 stars, 71% favorable reviews 6. TD Bank 4.2 stars, 88% favorable reviews 09 - Utrecht Bank 3.5 stars, 69% favorable reviews 7. 10 - Bank of the West 3.5 stars, 68% favorable reviews
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
80% 70% 60% 50% 40% 30% 20% 10% 0% 5
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
55 57.7
65
In regards to mobile payments and wallets, though consumers are hardwired to pay like they already pay, theyre kind of willing to switch around a little bit within [payment types], that at least gives you the kind of beachfront for mobile to get in there, and for people [to] try it out.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
These 5 Customer-Centric habits enabled Sprints dramatic turnaround, helping the company to go from zero to hero in 5 years
Listen Understand what customers value, act on their feedback Think Make smart, fact-based decisions Empower Give employees resources and authority to serve customers Create Produce new value for customers and company Delight Exceed expectations, be remarkable.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Eleven wow stats that researchers and marketers should know about mobile. The stats tell us that mobile is just starting; people are loving it, offers richer data, and is a global phenomenon
1. Mobile broadband subscription growth averages 40% annually, climbing from 268 million in 2007 to 2.1 billion in 2013. 2. In 2013, there are almost as many mobilecellular subscriptions as people in the world, with more than half in the Asia-Pacific region (3.5 billion out of 6.8 billion total subscriptions). 3. More people have access to mobile phones than to toilets or latrines. 4. Similarly, more people are users of mobile devices than owners of toothbrushes. 5. Mobile usage makes up about 15 percent of all Internet trafficand its not showing any signs of slowing down. Mobile is already huge, but its just getting started. 6. At the end of 2013, mobile search queries in South Korea are expected to exceed the number of PC queries. Mobile isnt just a West thing. 7. Over one third (37%) of time spent consuming digital media is now spent on mobile devices rather than PCs. 8. In 2012, 72 percent of all newly-acquired mobile devices are smartphones. This is great news for researchers who would like to take advantage of the rich features of smartphones. 9. The average response time for emails is 90 minutes; for text messages, its 90 seconds. 10. Compared to traditional coupons, mobile coupons have 10x the redemption rate. 11. More than three quarters of the worlds mobile phones are located in the developiing worldand growth is set to rocket.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Can the big boys play the crowd financing game? Say hi to 2.0
Call it crowdfunding 2.0. Established companies are using Kickstarter and the like to launch new products, paid for by a built-in customer base before they hit the production line. The appeal is not limited to raising funds. Just as important, were looking to get feedback, he says. This campaign is about market messaging and product viability. Its forcing us to think about how this product should be sold.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
EMCs Big Data expert shares his point of view on best practices for projects and success
The Key Takeaways: 1. Start a Big Data project by concentrating on business processes already supported by BI (Business Intelligence) and data warehouse enviornment. Leverage Big Data to take that business process to the next level. 2. Apply insights from diverse sources: customers, products, operations, etc. By applying these insights, for example, organization can re-wire their interactions with customers to build a more engaging, more sticky, more profitable relationship. 3. Find a positive spiral. Big Data has a liberating organizational effect whereby once users start to experiment with data and see positive results, more people in the organization will get involved to share ideas and collaborate around Big Data.No longer do you have a single department head making decisions around data, but rather people working together to come up with new ideas as to how to solve key business problems.
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
Companies are less committed to commitment Gene Zaino,MBO Partners Our childrens generation will have ten jobs by the time theyre 40 Gary Swart,oDesk The winners are those who can learn fast, have a strong network and the best online reputation R Ray Wang,Constellation Research The best talent will have even more options in this new economy Maynard Webb: entrepreneur, author, investor & company director
CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
Trending issues
Core Banking Platform New Formats Mobile Banking Social Business Mobile Payments CustomerCentricity Brands & Branding Crowd Finance App Ecosystem Gadgetology New Banking Concepts Big Data Future of Work DIY
In this section, readers will find summaries of the most relevant news of selected topics that have been published over the course of the month based on its relevance to the Banking industry. The summaries were prepared by the editorial board. Further information is made available for each given topic.
App Ecosystem
There are 5 main components in the current Apps Ecosystem: connectivity, devices, OS platforms, app platforms, and apps; along with related products and services providers (MEAPs, Mobility as a Service providers etc.).
New Formats
Based on design principles focused on customer insights, New formats offers retail banking customers more channels which are more granular and highly functional; a consistent, simple, and collaborative universal user interface; real-time intelligent processes; highly personalized solutions; and is open to social networks and the web. Examples of these new formats are provided here.
Gadgetology
Gadgets are everywhere and it seems that there are more and more each passing day. We are moving towards a contextual computing environment and, as a result, the number and functions of gadgets are poised to grow (thanks in part to the internet of things). In this section, we share a word or two about gadgets.
Mobile Banking
Relevant news about mobile banking platforms (which enable customers to access financial services, such as transfers, bill payments, balance information and investment options) can be found here.
Social Business
Social Business is the integration and use of social technologies by an organization, which includes social media/work media, crowd listening, crowd intelligence, crowd working, etc. Stay tuned to see how this space will evolve.
Big Data
It been said, what gets measured, gets managed. The Big Data trend offers organizations an opportunity to manage just about everything. Here well share stories about Big Data capture, curation, storage, sharing, analysis, and visualization.
Mobile Payments
The process of using a hand-held device to pay for a product or service, either remotely or at a point-of-sale. Up to date information is provided.
Future of Work
Work, increasingly, is not about where you do, but what you do. The future of work is more flexible and collaborative; and values are going to play an important role, especially corporate values. The way we work is changing fast stay tuned.
Customer-Centricity
Customer-centricity is the organizations understanding of customers at a granular level and the capability to create, deliver, and capture different kinds of value propositions to different groups of customers, based on customer understanding.
DIY
Do It Yourself (DIY) refers to a trend of people doing projects to either be creative/recreational and/or costsaving activity. This trend becomes really interesting as new technologies enable new functionalities such as 3D printing, health/wellness, etc, which help empowers individuals; this may even change the we think about businesses in the future.
Crowd Finance
A process where small amounts are money raised for a definite purpose, Crowd finance sources funds collectively from individuals. In other words, the money comes from a wide range of individuals and not from a single entity. Read more about it here.
Technology trends
The following section outlines the upcoming technologies that will change everything, with predictions on what may come of them in financial industry.
What do I mean?
or example, now theres no need to meet new interesting people around you in real time, but organize the contacts you already met (Glider); theres no need to checkin places anymore, but choose where you go to have dinner (new focus of Foursquare, still alive and growing!!). More examples below:
change the landscape and the way in which digital products are created, however some speakers (like Hill Ferguson from Paypal) stay a little skeptical saying that the problem that Bitcoin is trying to solve is not clear at all (if any), and wondering if their idea is the best way to achieve it. Lets wait and see.
Hardware was the co-star of the event. Some
Productivity a big business:These apps definitely make our life and work easier. Now you can send the attachments of your mails directly to a file in the cloud withKloudless, organize you mail withMailbox orHandle, or you meetings withRetrace. Online for offline:This is still a big trend, for apps as well as devices. The success of AirBnb lead the launch of apps like EatWith, for eatinghomecooked meal in someones home andallowing locals to turn their homes into temporary dining destinations for curious visitors looking to experience something new. Also,Taskrabbit is the seed of Bidzy, aprofessionalizedplatform for last minute tasks and services. still too early. Acording to Square, Stripe or Paypal, is still too early to know what it really means for economy. Bitcoin may
interesting solutions where shown, like KISI, a Keyless home access management platform, or KeenHome, remote vents for your central air conditioning and heating systems that can be controlled from your smartphone to optimally direct air where you actuallyneedit, or away from places you dont.
See video
Bitcoin:
ANY EXISTING OR PROSPECTIVE CUSTOMER Friends Interests Friends Interests Location Demography ...
NEWS
LOCAL NEWS NEWS BASED ON YOUR INTEREST NEWS YOUR FRIENDS HAVE READ NEWS PEOPLE LIKE YOU HAVE READ WORLD NEWS
3rd PARTY SERVICES + DATA Facebook Twitter Google Loyalty Cards Aggregators ...
Sources: insideintercom.io/why-cardsare-the-future-of-the-web/ ben-evans.com/benedictevans/2013/6/18/canvases
any leading companies are moving toward Cards: Google Now. Twitter. Pinterest... Also, many other leading technology companies are moving towards Cards: Facebook, Spotify, Apple, etc. As Inside Intercom puts it, If the predominant medium of our time is set to be the portable screen (think phones and tablets), then the predominant design pattern is set to be cards. The signs are already here
personal cards, and the list seems to go on and on. Also, Cards can present content in a more flexible way. They can be turned over to reveal more, folded for a summary and expanded for more details, stacked to save space, sorted, grouped, and spread out to survey more than one. Cards are perfect for mobile devices and varying screen sizes. They can be stacked horizontally, adding a column as a tablet is turned 90 degrees. They can be a fixed or variable height. Moving forward, its going to be interesting to see how this new content format will bring in the future. Cards are the next big thing in design and the creative arts. Let wait and see how this trend will affect the way we manage and consume content with post-PC devices.
CONTENT FORMAT THAT IS SO FAMILIAR AND FLEXIBLE Cards, as a content format, go back to 9th century in Imperial China and weve been using cards ever since. Today, we are surrounded by them: debit/credit cards, business cards, government issued cards, coupons, card games,
SUMMARY CARD
REGULAR CARD
EXPANDED CARD
Discover the winning projects of the BBVA Open Talent 2013 competition
The projects participating in this start-up competition are born from the illusion of people who believe they can contribute to society with the implementation of their very own project. These are innovative and technology-based initiatives launched by start-ups less than two years old and for whom the 100,000 Euros of the award and the opportunities associated with a competition such as BBVA Open Talent can make much a difference. All the initiatives have in common their drive to do things differently through innovation and their enthusiasm for creating something new from scratch. The 2013 edition of the start-up competition has been so far the most international one, registering a record of participation. A total of 916 projects of 24 countries around the globe have been submitted, mainly from Colombia, Spain, Argentina, Mexico and Peru. Furthermore, the participating projects have received more than 70,881 online votes through the Innovation Centres website and social networks. Open Talent is an international BBVA initiative aiming to boost innovative entrepreneurship and establish a real network with start-ups showing potential to lead the changes in the technology and banking sectors, and with all the other stakeholders of the entrepreneurship ecosystem as well.
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The third edition of the conference EmTech Spain held on 5 and 6 November, analyzed the economic impact of innovation and technological entrepreneurship. EmTech was also the escenario where the winners of Innovadores Menores de 35 presented there projects. With those awards, MIT, supported by BBVA, recognizes young people who are giving a solution to real problems through technology.
ment of diseases and the way he bring it to market. Their innovative ideas and the way to implement them and bring them to market successfull have been key to his victory , according to Pedro Moneo, director of the Spanish edition of MIT Technology Review. Alongside Oll, the other main entrepreneur
Bernat Olle was the youngest elected as Innovador del ao, among the 10 selected Spanis, for his disruptive breakthrough in the treat-
was Karen Marquez, chosen as Innovadora social, by proposing a new approach to early childhood education.
IM35
The Innovators under 35 awards, organized by the Massachusetts Institute of Technology (MIT ), through MIT Technology Reviewy publication since its first edition in 2010 has the support of BBVA, has great international prestige and is a strong impetus for young people in developing their innovation projects. These 10 young Spanish are an example of the ability of innovation and entrepreneurship that is in the country, said Hugo Najera, Chief Innovation Officer of BBVA. Investing in research and innovation is essential to promote competitiveness, at a time when full technological change, economic, social and environmental stressed Njera. We should be proud of our young people, who have the courage and ingenuity of the major problems facing global concern and provide real solutions that have a real impact on society, said Moneo.
The 10 winners will present their projects during the Innovators Under 35 awards ceremony.
BBVA invites developers to create apps with transaction data of its cards in the Innova Challenge
Apps for public institutions, for consumers and data visualization. These are the three categories of the first edition of Innova Challenge Big Data, a competition for which BBVA is giving access for the first time to a set of real transaction data of its cards. The best apps in the different categories will be awarded with 15,000 Euros.
Open and collaborative innovation. Based on these pillars, BBVA wants to build a community of developers around its data platform, and for this purpose the bank is now allowing third parties to create new content and services using real transaction data of its cards. With the launch of the Innova Challenge Big Data, BBVA has become the first Spanish bank to open an API for developers to create apps for public institutions, individual consumers or even for the creation of new content visualizations. Registration to participate was opened on 24 September and will end on 3 December, 2013. This international challenge will award prizes to
a total value of 90,000 Euros (15,000 for the winner, 10,000 for the runner-up and 5,000 for the third prize in each of the three categories). Developers may access the API to obtain a set of anonymous and aggregated transaction data generated by banking cards in the cities of Madrid and Barcelona. In order to maximize this platform, BBVA has organized a series of free workshops to show how to work with open data. You may find detailed information about the Terms and Conditions and how to participate in the Innova Challenge Big Data website.
BBVA Innovation Edge is the result of a collaborative work done by all the people who are involved in innovation at BBVA Group.
CONTRIBUTORS TO THIS ISSUE
Alfonso Bey Reyes Bolumar Vanesa Casadas Luz Fernandez Antonio Garcia Israel Hernanz Marta Javaloys Luz Martin Manolo Moure Multichannel Strategy Team Carlos Perez Javier Sebastian Elena Solera Ignacio Villoch Gustavo Vinacua Phil Sang G. Yim
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