Big Data & Analytics Anything But BAU in 2013 · Big Data & Analytics… Anything But BAU in 2013...

Big Data & Analytics… Anything But BAU in 2013

Cyrus Daruwala, Managing Director – APJ

14th May @ FST


2.57

2.86

3.07

3.23

3.30

3.42

3.54

3.67

3.83

3.93

3.93

4.00

4.17

0.0 1.0 2.0 3.0 4.0 5.0

Cloud computing

Outsourcing

Social media in financial services

Business process reengineering

Trade and cash management

Core banking system renewal

Compliance

Banking 2.0 innovation

Risk management

Channel management (branch, ATM, mobile)

IT security and fraud management

Customer insights and analytics

Innovation strategies

Q: What are some of the strategic initiatives your bank is working on right now? Strategic Focus - Innovation is Tops!


Breakdown of Qualified Submissions

N = approx. 1,000 over the 3 years


10

2

3

4

5

6

9

8

Core Banking

Selective Sourcing

Channels

Profitability and Performance Management

Customer Centricity

Payments

New business technologies

Risk Management and Compliance

Business Process Reengineering

Security and Fraud Management

1

3

1

3

2

1

2

7

4

Customer Data Management & Single Customer View

Channels

2

Risk Management

Fraud Management

New Themes of Customer Centricity

Business Process Reengineering and Core Banking

Compliance

Mobile Everywhere

Trade Services and Transaction Banking

Innovation in Retail Payments

IT Governance

Alternative IT Delivery

Customer Centricity Through The Years 2006 2007 2008 2009 2010 2011 2012


What are the Drivers behind this Customer Centricity?

1

3 2

4

5

We want to be

able to analyze

our customers

better and in a

more granular

fashion

We should able to serve

our customers faster

We should understand

that our customers are

most likely active social

media participants

We are

increasingly

pitching to a

customer segment

of ONE

Our agents, and

customers are

now more mobile


Analytics: Big Data is the New “In” Thing

Data we are able to gather have exploded in quantity

Velocity

Volume

Variety Data we are able to gather have exploded in type

We are able to process all these data much faster

10x growth in

data stored

between 2008-2012

Transactional data

Lifestyle-related information

Behavioral data

Demographics

Geospatial information

Online and social media interactions

Mobile (smart-phone) usage trends

1


Customer Data Management

Mandates to cut turn-around times

We observe “customer promise" programs to:

Shorten waiting times,

Cut queues,

Serve customers in branches by a certain number of minutes,

Open accounts within a certain time frame, or

Approve credit quicker than usual

Speed and Instantaneous Response 2


Examples we are Seeing in the Region…

Reduced

account

opening time

from 2 days to 5

minutes

UBank National Australia

Bank

Loan approval

in an hour

Citi Singapore

Personal loan

approvals in ten

minutes,

including debit

card issuance

RHB Easy Malaysia

Eight minute

service pledge

Standard

Chartered Singapore

2


But it is in m-commerce where we see all the 5 themes come together…!!


Q: How would you rate your bank's current innovations around mobility?

Channel Strategies around Mobility

N = 14 0 respondents .

Source: Bankers Boardroom Survey, August 2012

Mobilility is tightly integrated into our

multichannel strategy. We are one of the best in

the Singapore market 29%

We have already seen success in a few areas around

mobility 43%

We have implemented basic

mobile banking functions but are looking at further enhancements

7%

We are only just planning to

implement/rollout mobility initiatives

21%


Analytics On / To The Mobile !

Locational Intelligence in Action

UOB Singapore

Mobile Augmented Reality in Action

Commonwealth Bank

of Australia


Speed and Mobility

Making Things Faster and Simpler:

ANZ goMoney Making Things Faster and Simpler:

Digital Check Deposits


What about community aspects of mobile?

No.1 in the Apple iTunes Stores within 6

hours after launch

No. 2 free App by end of launch day

1,000+ customers giving

feedback within the first month

4 out of 5 average rating

E.G of ANZ goMoney™


Facebook in Mobile Payments

CBA Kaching


Hyper-Personalization and Mobility

Hyper-Personalization in Action

Standard Chartered Breeze Hyper-Personalization in Action

ANZ goMoney™


SO HOW DOES THE MALAYSIAN FSI BUY ? AND HOW DO THEY VIEW THE THEIR VENDORS ??


Q. Aside from pricing/cost, what do you think are the top 3 factors that drive your

organization's decision when selecting/switching to a new Core vendor/provider?

0% 5% 10% 15% 20% 25%

Flexibility to meet special requirements

Business consulting expertise

Network infrastructure

Strong & extensive partner ecosystem

GRC

Security expertise

Risk-reward sharing model

Understanding your business/industry

Business-outcome-based SLA

IT services delivery capabilities

CIO

LoB

Process Integration Capability

Business process transformation knowledge

Outcome-based pricing

Solutions, IT & Ops -business alignment

Vendor Selection Checklist


0% 5% 10% 15% 20%

Limited ICT budget

Inability to adopt new technologies todrive competitive edge

Lack of business unit stakeholders'buy-in

Lack of required skill sets to effectivelyexecute

Lack of thought leadership in ICTstrategy & roadmap

Inability to transform businessprocesses

Ineffective IT-business alignment

Source: IDC APeJ C-suite Barometer Survey, Feb 2011 (CIO/CTO=486)

Q. What are your top 3 challenges with finding the right Vendor / Partner

Difficulty To Predict Cost & TCO & ROI’

Difficulty Finding Process +IT+ Apps Executives

Difficulty To Find a GLOCAL IT Partner

Why is All this Difficult …??


Sub-Processes

Stakeholders

Technology

They Chuck Products / Services, No Road Map Start here ! Process 1 Process 2 Process 3


It Feels Like This in Every IT Presso & Every RFP !!

• They Bedazzled You

during the RFP, but

now you are Customer

# 1,264

• The Risk is even

higher if you remove

them / phase them out

• You ( even CIO’s) are

not Techies ...u

understand IT &

business...but still

• Everybody’s Blaming

Everybody ...and In

the Middle of all this....

Is Larry .....


So How Can You Find “Your Star” and Transform

1. Customer centricity & expansion

2. IT & Business process transformation

3. Operational efficiency & productivity

Customer centricity & expansion

Operational efficiency & productivity

Business Process Transformation


Deployment

Cost

Business

Risk

Business

Value

Reasonable

Cost

Optimal

Risk

Greatest

Business

Value

None Modest Moderate Radical

-

+

-

+

-

+

Help LOB / IT Find their Sweet Spot


So….What Can You Use Tomorrow ??

Start ‘Somewhere’ in the Business

Process or in the LOB, not with IT.

The is Very Little Crowd outside the CRO,

CFO & COO’s office, Go there !!

All Initiative must have GRC, Social

Business & Future-proofing angle.


Cyrus Daruwala

Managing Director,

Financial Insights, Asia Pacific

Email: [email protected]

Tel: +65 6829 7718

Big Data & Analytics Anything But BAU in 2013 · Big Data & Analytics… Anything But BAU in 2013...

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