This entry is part 2 of 2 in the series ForcesThere are digital natives and digital immigrants. Digital natives, having grown up around computers and mobile phones, have radically different needs, wants and expectations. The market trend is that digital immigrants are naturally being replaced by digital natives. The market force is that companies must… Read More »
This entry is part 13 of 30 in the series TrendsThere are digital natives and digital immigrants. Digital natives, having grown up around computers and mobile phones, have radically different needs, wants and expectations. The market trend is that digital immigrants are naturally being replaced by digital natives. The market force is that companies must… Read More »
This entry is part 12 of 30 in the series TrendsClosely related to the “Cloud” trend, it makes sense that banking services running in the cloud would be offered for consumption by the computer systems of other organizations (as an API) in addition to humans (as in a mobile app). From Digital Bank by Chris… Read More »
This entry is part 11 of 30 in the series TrendsAccording to Digital Bank by Chris Skinner society now create 2.5 exabytes of data per day. An exabyte is a 1 with 18 zeroes after it, or 1,000,000,000,000,000,000 bytes.
This entry is part 10 of 30 in the series Trends“Organizations will begin pursuing dual strategies: to continue the focus on core business in their primary industries; and to seek growth opportunities in their chosen specialized functions across other industries. Specialization will drive industry convergence as competition expands around specific, common value chain functions.” From… Read More »
This entry is part 9 of 30 in the series TrendsAccenture notes that “Google Wallet, T-Mobile, PayPal, Simple, and Moven have all relied on the “white-label” services of The Bancorp Bank to provide regulated banking services to their customers.” See The Everyday Bank by Accenture.
This entry is part 8 of 30 in the series TrendsCustomers are becoming more open-minded about banks providing services beyond traditional financial services. This includes modest extensions from providing proactive advice on spending and investing to dramatic extensions such as finding and researching products. See the 2014 North America Consumer Digital Banking Survey study by Accenture.… Read More »
This entry is part 7 of 30 in the series TrendsCustomers are becoming more open-minded about receiving financial services from non-banks. See the 2014 North America Consumer Digital Banking Survey study by Accenture. Accenture estimates that “competition from digital players could erode as much as one-third of traditional retail bank revenues by 2020.” …and notes that… Read More »
This entry is part 6 of 30 in the series TrendsCustomers are becoming more open-minded about branch-less banking. See the 2014 North America Consumer Digital Banking Survey study by Accenture. But most still do use the branch and call center. In fact, the more they use digital channels, the more they use the physical channels.… Read More »
This entry is part 1 of 2 in the series ForcesAccording to my planning process defined in how it all fits together, creating strategy requires an environment scan. Environment scan equates to looking at trends and forces. Forces are important in positional analysis where we look at positions of strength and weakness that create opportunities… Read More »