Inspiration For Innovation: Considerations For Financial Application Design
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Inspiration For Innovation 1 Bank 2.0 Webinar Series 23 April bradley @leimer Bradley Leimer leads digital strategy for California based Mechanics Bank. He brings additional perspective from time leading marketing and business development teams in the credit union industry and through a decade driving big data and database marketing analytic services for national and regional bank clients. See his thoughts on engagement banking on American Banker , BankNxt , bradleyleimer.com and other financial industry sites. About Bradley Leimer Inspiration For Innovation Considerations For Financial Application Design
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16-Sep-2014 -
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Bradley Leimer's slides used in the Backbase webinar 'Inspiration For Innovation: Considerations For Financial Application Design'. In this Backbase webinar, Bradley Leimer, Vice President, Online and Mobile Strategy at Mechanics Bank and renowned financial technologist and engagement banking proponent discusses customer behavior and related design trends impacting financial application development. He explores topics that are relevant to community banking, financial services, and the changing customer expectations developers now face. Customer behavior is changing. Expectations are shifting. Technology is accelerating this shift as it acts to alter traditional relationships with our customers as well as the traditional sources of revenue, growth, retention, and customer loyalty. We are moving away from a personal banking relationship to one where the primary relationship is that of utility. Banking becomes something you do through an application, not something you do in a defined location. And those applications better be well designed, because the banking model itself is in jeopardy. What inspires your teams to innovate and iterate? Why are we not seeing more radical changes in financial application design? While we are still only in the middle stages of this digital transformation, the majority of banks seem destined to be left behind. With the variety of experiences available today, what can we learn from changes in design and customer behavior? What is the role of financial data and identity in this change, and how do we make the concept of big data become a personalized, more meaningful small data experience? If our experience design process were more like Apple, Amazon, Google, or Facebook, what would that look like? Where else should we look for inspiration?
Transcript of Inspiration For Innovation: Considerations For Financial Application Design
Inspiration For Innovation 1 Bank 2.0 Webinar Series 23 April 2013 bradley @leimer
Bradley Leimer leads digital strategy for California based Mechanics Bank. He brings additional perspective from time leading marketing and business development teams in the credit union industry and through a decade driving big data and database marketing analytic services for national and regional bank clients.
See his thoughts on engagement banking on American Banker, BankNxt, bradleyleimer.com and other financial industry sites.
About Bradley Leimer Inspiration For Innovation Considerations For Financial Application Design
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bradleyleimer.com
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Inspiration For Innovation Considerations For Financial Application Design
Who Are You? Tunneling Through Granite A Walk In The Woods The Hacker Way
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Who Are You? What Happened To Banking? To Our Customers?
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Kristoffer Lawson, Co-Founder of Holvi
Source: holvi.com
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the banking model is
deaddumb pipesunder siegerecoveringpivotingpoisedgrowingstrongerinnovating
the banking model is
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banking has changed
environmenteconomycompetition regulationmarketingdesigndatacustomeremployeesbehavior technology partnersmodelutilityefficiencyconversation
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Source: Source Media
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Inspiration For Innovation 17 Bank 2.0 Webinar Series 23 April 2013 bradley @leimer
Source: Source Media
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Helm BankS. America; Multiple Countries
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Source: thefinancialbrand.com
Multiple BanksSouth Africa
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Source: thefinancialbrand.com
Virgin MoneyGuildford, Surrey UK
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Source: thefinancialbrand.com
Barwa BankQatar
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Source: thefinancialbrand.com
State Farm DirectChicago, IL USA
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Source: thefinancialbrand.com
Tunneling Through Granite Stop Banging Your Head Against The Wall
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2.0Ron Shevlin, Aite Group
For large scale change to happen in retail banking,
three elements need to be in place: technology change, demographic change, and
economic imperative.
Source: snarketing2dot0.com
Source: Jessica Hagy, Contributor Forbes 5/2/2012
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Source: The Castle & The Sandbox and copernicc.wordpress.com , innotribe.com
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Source: innotribe.com; The Castle & The Sandbox
Source: The Castle & The Sandbox and copernicc.wordpress.com; Image: Konstantin
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If the core business of an established company is the “castle” (well protected and built to last), innovation is best carried out in “sandboxes” – environments outside the castle where experimentation with new ideas and concepts is easier.
A Walk In The Woods What If Apple, Google, Amazon, or Facebook Ran A Bank?
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Source: apple.com
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Source: google.com
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Source: amazon.com
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Mobile
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The New Mobile?Simple, instant, personal UIIntegrated bill pay with alertsPhoto bill payReal-time/actionable alerts Untethered login/mobile onlyVoice/biometric authenticationPIN login/2 factor paymentQuick balance / text tie inNetwork agnostic payments NFC/proximity paymentsA2A (real-time option)P2P (instant option)Social/connection payments Proximity controlsSocial service hooksServices/merchant discoveryMulti-language supportCross-app service launches
Intra-FI transfersDebit/credit card off/on toggleCard ordering Mobile RDC/check depositTransaction gamificationMobile PFM/AggregationSafe to spend/budget P2P and B2P invoicingIntegrated statements/receiptsEmail/personal info editsBasic account openingInsurance/other productsProduct calculatorsContextual offersClick to call / calendar appointmentSecure/contextual chat Video/Facetime support Virtual assistant
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Inspiration For Innovation Bank 2.0 Webinar Series23 April 2013 bradley @leimerInspiration For Innovation 46
Bank 2.0 Webinar Series 23 April 2013 bradley @leimer
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Call to ActionStart Your Own Sandbox, Incubator, Or MeetupTalk To One New Person Outside Your Organization Every WeekStay Focused, Keep Innovating, Keep Shipping
Take one idea you had during this presentation and let me know how you will improve your bank, credit union or financial application.
W 510.741.3565M 510.684.1041
@leimer
linkedin.com/in/leimer
bit.ly/pT2MVL
pinterest.com/leimer
Bradley Leimer leads digital strategy for the California based Mechanics Bank. He brings additional perspective from time leading marketing and business development teams in the credit union industry and through a decade driving big data and database marketing analytic services for national and regional bank clients.
See his thoughts on engagement banking on American Banker, BankNxt, bradleyleimer.com and several other financial industry sites.
About Bradley Leimer
Inspiration For Innovation 57 Bank 2.0 Webinar Series 23 April 2013 bradley @leimer
Inspiration For Innovation Considerations For Financial Application Design
Inspiration For Innovation 58 Bank 2.0 Webinar Series 23 April 2013 bradley @leimer
