How innovation changes the financial services industry Digital transformation and FinTechs: 9 th March, 2016
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
How innovation changes the financial services industry
Digital transformation and FinTechs:
9th March, 2016
PwC’s Digital Services
Holger Greif
Partner, Digital Lead for Switzerland
Haskell Garfinkel
Partner, Co-Lead FinTech Practice
ABOVEthe glass
ONthe glass
BELOWthe glass
Technology and Operating Model Transformation
UX & App Development
BusinessChange
What’s easy & exciting
What’s hard & tricky
Digital - its about a lot more than devices & apps
FinTech1.0
FinTech2.0
PwC’s Digital Services
We acquired iBrows to further build out PwC’s digital capabilities
PwC 5
FinTech: What is it?it’s the customer, stupid….
FS InstitutionsLarge Tech
Companies
Silicon Valley is coming…
- Jamie Dimon
“ “ We are a tech company…
– Lloyd Blankfein
“ “
Start Ups
Consumers
Infrastructure
Players
FinTech: Your viewsand the winner is……….
Disruption in FinTech in the Next 5 Years: Which part of the financial sector is likely to be most disrupted by FinTech over the next 5 years?
Source: PwC Global FinTech Survey 2015
505 respondents
*Disruption is understood as radically reconfiguring a particular field of business.
Poll: What areas do you think will be most disrupted by FinTechs in Swiss Banks over the next 5 years (gain of relevant market share)?
A. Payments (e.g. P2P Payments)
B. Online Brokerage (e.g. Robo-Advice platforms)
C. Wealth Management (e.g. algorithm based Investment Advice)
D. Lending (e.g. P2P Lending)
E. M&A / Corp. Transactions (e.g. Online Syndication of Deals)
Top Threats Related to the Rise of FinTech
56% Information security/
privacy threat
59% Loss of market share
67% Pressure on margins
Source: PwC Global FinTech Survey 2015
511 respondents
In your opinion, what are the threats related to the rise of FinTech within your industry?
53% Increase of customer churn
Top Opportunities Related to the Rise of FinTech
57% Improved retention of customers
62% Differentiation
73% Cost reduction
In your opinion, what are the opportunities related to the rise of FinTech within your industry?
56% Additional revenues
Source: PwC Global FinTech Survey 2015
511 respondents
Fintech will most likely affect the following business areas
Source: PwC Global FinTech Survey 2015 / 511 respondents
42% Enhancing interactions & build trusted relationships
51% Leveraging existing data & analytics
75% Meeting changing customer needs with new offering
FinTech: What’s Trending …
Denovo … it’s a new day!
PwC’s Digital Services
Q & A Session
PwC’s Digital Services
Thank you!
Related Documents
