Team- Asymtotes

GROUP CHARACTERISTICS

Appetite for Seeking self- New branch

“NOMADS” Personalization
innovation service experience
COHORTS

Prefer
Need the Open to new
“HUNTERS” traditional
human touch services
service

“Quality Want to stay Interested in Open to Enhanced See trust as

Seekers” with banks innovation automation experience vital

 78% would bank with a tech firm like Amazon or Google

 78% happy to share personal data with their bank
but 66% demand faster, easier services in return
STATISTICS

 They care most about low cost (83%) but it doesn’t mean they
will compromise on service
 76% say lower prices are important in return for sharing data

 49% say a high quality customer service drives loyalty

 53% say confidence their personal data will be secure makes
them stay
 The banking organization of the
future will leverage the vast
amount of insight it possesses to
become central to a customer’s
financial and non-financial digital
ecosystem
 Instead of a rear-view mirror
perspective, it will provide a
consumer with a GPS view of their
financial lives in the future.
Instead of overdraft notifications,
there will be low balance warnings
and recommendations.
FUTURE OF BANKING (CUSTOMER WANTS)
 It will combine internal  The bank would at the center of a
capabilities with external
innovations to be a value
aggregator, advice provider and
access facilitator.
 Instead of ‘selling’, the banking
organization of the future will
interact similar to Amazon and
Google, gaining insight and
getting smarter with each
interaction subsumed with real
time offers & opportunities.
consumer’s life, sharing all of the
insights it has surrounding a
consumer’s life. This includes bot
financial & non financial insights.
 The banking organization of
the future will leverage APIs
and the cloud to deliver a
portfolio of solutions that are
customized and personalized
to the consumer’s individual
situation in any given
moment
 The device will have two
modes, financial & non-
HEALTH TRACKING
financial & both will serve
their individual functions.
SERVICES:-

SERVICES:-  Live a healthy, balanced life by tracking

your all-day activity, exercise, sleep
 Touch & pay options using OUR OFFERING and weight.
the device at POS terminals  Connect with other users thus helping
 Real time tracking of transactions in creating a community
 Tracking expenses  Connect food transaction data with
 Create budget plans for the person health tracking
 Faster than online/mobile banking
 Better targeting using transaction data
 All banking services on the device

“ICICI SMART WEARABLES”

Security concerns are

 Bluetooth theft
 Signal Interceptor issue
 Virus attack
 ECOSYSTEM FOR ICICI SMART
WEARABLES IN BANKING

 Wearables require “information everywhere”, which is

made possible through the suite of technologies subsuming
sensors, communication devices, servers, analytics engines
and decision-making aids, known as the Internet of Things
(IoT).

 With a constantly increasing number of

wearables on the market and numerous
communication protocol options to choose
from, the limiting factor for improving customer
relationships is handling the data itself.

 Owning the Aggregate and Analyze stages of the

information value loop will provide banks with the customer
insights needed to gain a competitive advantage.

 Partnering with wearable manufacturers and fintechs will

enable them to achieve these gains quicker and with less
overall risk.
 Timing is of the essence i.e. we are moving from doing
occasional interactions to being embedded into consumers’
digital lives with daily interactions
ENGAGED
 Access to both financial & non financial data can help the
bank be re-positioned at the center of the customer’s daily
life, becoming integral to both financial and non-financial
needs.

 This would help the bank of the future to have relationships with more segments of
consumers at an efficient cost (including underbanked, unbanked or unhappily-banked
populations), using the number of interactions with these customers to offset the
lower income per transaction.

 By tapping into the wealth of transactional data, the bank will reach out to the right
third-party providers and other key players to build a digital customer experience
combining mobile, big data, analytics, digital marketing, ticketing and more.

 Better localization & credit services, instant updates (location BANKING

based services) depending on location.

 Customers buying sustainable products would be given higher credit ratings.

PAYMENT DATA SAMART WEARABLES DATA

FIGURE 1 FIGURE 2