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Banking as a Service (download) 

 

 
 
Tags:  iphone  baas  banking2.0  social  future  technology  saas  as  zopa  service  saving  ebank  web  networking  wonga  a  widget  20  smartypig  mobile banking  bbva 
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Published:  May 02, 2010
 
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Slide 1: The Future of Banking Technology Chris Skinner Chair, the Financial Services Club CEO, Balatro Co-Founder, Shaping Tomorrow ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 2: Banks have many components Delivery Functions Delivery Functions Personal Teller Counselling Agent/Broker Dealing External Functions Direct Self Service ATM/POS Telephone/Voice Home/Corp. Document Document Processing Image Processing Remittance Processing Mailing Payment Networks ATM Networks Credit Authorisation Settlement Clearing Info. Networks Customer Information Functions Personal Small Business Private Commercial Corporate International Service Functions Insurance Underwrite Claim Proc. Pensions Investments Re-insurance Collections Revolving CR Life Policy Non-life Actuarial Credit Bureau Routers, Telerate, etc. Securities Quotations Other Data Services Retail Term Loans Chk. Accts Savings Securities Portfolio Mgr. Personal Lns. Factoring Leasing Trust International Securities Commodities Investmt Mgt. Derivatives Settlement Foreign Ex. Money Mkt. Market Inst. Commercial Trade Finance Services Card Protection Check Printing External Business Relationships Electronic Card Interchange Cards Mortgage ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 3: ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 4: Business is a-changing Meetings 40 UK 8 Ireland 6 CEE $800,000 1999 Mailing 10,000 people Twice weekly $150,000 Newsletter 1,000 people daily Text only $300,000 Brochures Website Non-interactive Custom-build 10,000+ Annual update $100,000 $150,000 $100,000 4 ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 5: Business is a-changing Meetings 40 UK 8 Ireland 6 CEE $160,000 2009 Mailing 10,000 people Twice weekly $150,000 Newsletter 1,000 people daily Multimedia Free Brochures Website Non-interactive Custom-build 10,000+ Annual update $149 Gone $10,000 5 ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 6: Banking is a-changing “Information about money has become almost as important as money itself .” Walter Wriston, CEO/Chair, 1967-1984 “Banking is just bits and bytes.” John Reed, CEO/Chair, 1984-1998 ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 7: Banking is a really changing There are no local data centres or servers, just access to the HSBC network ... five years ago, we ran 130 data centres because we had acquired 50 companies up to 2003. Today, we have 20 data centres, and in two years we will have 6 worldwide. ©Chris Skinner. All rights reserved. Case Study: http://thefinanser.co.uk/fsclub/2008/12/-hsbc-banking-on-the-network.html +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 8: ©Chris Skinner. All rights reserved. Case Study: http://thefinanser.co.uk/fsclub/2008/12/-hsbc-banking-on-the-network.html +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 9: Banking is a-changing Base Rate 4% Loans >6% 1999 Mortgages >5% Savings <2% Payments 3.5% per transaction Investments 3% commission 5% fee 9 ©Chris Skinner. All rights reserved. Insurance 3% margin +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 10: Banking is a-changing Base Rate 4% Loans >4.2% 2009 Mortgages >5% Savings <3.8% Payments <0.5% per transaction Investments <0.5% commission <1% fee 10 ©Chris Skinner. All rights reserved. Insurance 3% margin +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 11: eBank Japan Japan’s largest internet bank with no branches, three million customers and less than 200 employees. Case Study: http://thefinanser.co.uk/fsclub/2008/07/internet-bankin.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 12: Base Rate 1% APR £5,000 36 months 8.7% for lowest risk borrowers 12.8% for highest risk lenders 11.9% for lowest risk borrowers 3.55% for highest risk lenders ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 13: SmartyPig • SmartyPig one of the first real banking applications that is truly social. • It is like an online piggy bank, where you save money for specific goals. • First banking application that allows friends and family to contribute to interest bearing goals. • Public goals allow friends and family to contribute, or keep your account private ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 14: Where they are now Launched in April of 2008 • Within 3 months, SmartyPig had customers in all 50 states • Average goal amount: $8,900 • Average length of goal: 4+ years • Top goal categories: Travel, Holiday Savings, Electronics, Home Improvement, Weddings, Homes, Cars • Two-thirds of all goals are public • 25% of customers have more than one goal • 67% of SmartyPig users are under the age of 35, 20% are between 36- 45, and the remaining 13% are older. ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 15: Q3 2008: • $14.81 billion worth of payments, 28% year-on-year growth; • 65.3 million active users, up 19%; • 214.5 million transactions, up 25%; • Purchases made outside eBay are now greater than through eBay (71% of PayPal payments were for eBay purchases at the end of 2004); and • PayPal provides 28.2% of eBay revenue, up from 24.8% a year before. Q4 2008: • $15.99 billion worth of payments, 14% year-on-year growth; • $623 million in revenue, up 11% year over year; and • 70 million active users, an increase of 23% year-over-year . Case Study: http://thefinanser.co.uk/fsclub/2009/01/paypals-tenth-birthday-party.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 16: Who needs a bank? ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 17: Who needs a bank? Case Study: http://thefinanser.co.uk/fsclub/2008/08/do-recessions-m.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 18: Who needs a bank? A Red Herring Top 100 European technology company and Top 200 worldwide. Completely automated with no humans involved and only 37 staff in London, with the rest of the development team in the Ukraine. Case Study: http://thefinanser.co.uk/fsclub/2009/02/wonga-another-web-financial-disruption.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 19: Banking as a Service (BaaS) Explanation: http://thefinanser.co.uk/fsclub/2009/02/baas-banking-as-a-service.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 20: Widgets and SaaS • Widget: – A portable chunk of code that can be installed and executed within any web page by an end user without requiring additional compilation. • SaaS: – an application is licensed for use as a service provided to customers on demand. On demand licensing and use alleviates the customer's burden of equipping a device with every application. ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 21: BBVA Tú cuentas (You count) BBVA has 4.1 million online customers performing over 1.3 billion annual online transactions cuentas in They launched Tú http://thefinanser.co.uk/fsclub/2008 Summer 2008 with a totally /07/bbva-the-first.html customizable interface for the iPhone, Blackberry and Nokia phones Case Study: http://thefinanser.co.uk/fsclub/2008/07/bbva-the-first.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 22: Banking is a-changing Base Rate 4% Loans >4.2% 2009 Mortgages >5% Savings <3.8% Payments <0.5% per transaction Investments <0.5% commission <1% fee 22 Skinner. All rights reserved. ©Chris Insurance 3% margin +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 23: These are trading venues ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 24: These are new trading venues Explanation: http://thefinanser.co.uk/fsclub/2008/11/one-year-after.html ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 25: These are new, low cost trading venues The firm is currently building its own trading engine - which will be based in London to reduce latency and has engaged a central counterparty, believed to be EMCF, for clearing ... believe they will be able to win market share by undercutting rivals and keeping costs to a minimum by operating out of Budapest. ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 26: Big difference ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 27: eXay ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 28: Lower Latency “It takes a 240 millisecond link to go from London to Tokyo via the US. If you go via Russia it’s 60 milliseconds faster.” ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 29: Banking is a really changing We can move into a new country with credit cards with an investment of $1-$2 million, mainly on marketing, because we don’t have to build all that infrastructure. We can move into a country with full service banking for under $10 million, which is a fraction of our competitors. We just open a building and sell, because everything is delivered through the network. ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 30: My Semantic HomePage Personalised search My outlook calendar (including transactions) My finances My social network Personalised News Personalised Weather My outlook inbox Live TV My real-time life ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 31: My Semantic HomePage Personalised search My outlook calendar (including transactions) My finances My social network Personalised News Personalised Weather My outlook inbox Live TV My real-time life My Personalised Advertising +44 790 586 2270 chris.skinner@fsclub.co.uk (not your adverts to me) ©Chris Skinner. All rights reserved.
Slide 32: Banking on the Network BaaS Widgets ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 33: Further Reading • Banks ignore social media at their peril – http://thefinanser.co.uk/fsclub/2008/12/ba nks-ignore-so.html • Internet Banking 2010 and Beyond – http://thefinanser.co.uk/fsclub/2008/04/inte rnet-bankin.html http://thefinanser.co.uk/fsclub/2009/01/tec hnology-predictions-hold-the-solution-tothe-banking-crisis.html http://thefinanser.co.uk/fsclub/2009/01/thenext-boom-starts-in-2014.html • Technology is key for banking in 2009 – • Social networks don't need banks, they need friends – http://thefinanser.co.uk/fsclub/2008/12/so cial-networks.html http://thefinanser.co.uk/fsclub/2008/12/so cial-finance.html http://thefinanser.co.uk/fsclub/2008/12/so cial-money-wh.html • The next boom starts in 2014 – • Social finance is right here, right now – • Social money – what’s all that about? – • Mobile social money, the final frontier? – http://thefinanser.co.uk/fsclub/2008/12/m obile-social-m.html • The Future of Investing in Europe's Markets after MiFID ; • The Future of Finance after SEPA ; and • The Future of Banking In a Globalised World – http://eu.wiley.com/WileyCDA/Section/idWILEYEUROPE2_SEARCH_RESULT.html?quer y=chris%20skinner ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk
Slide 34: The Future of Banking Technology Chris Skinner Read my daily blog at www.thefinanser.com ©Chris Skinner. All rights reserved. +44 790 586 2270 chris.skinner@fsclub.co.uk

   
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