- Trends: What do we look for?
- Technology Trend: Cloud Computing
- Industry Trend: Unbundling of banks – Lending Club
- Regulatory Trend: Deregulation – RBI granting banking licenses
- Industry Trend: Immediate everything – Payments
- Market Trend: Branchless Banking
- Market Trend: New Market Entrants
- Market Trend: Banks Extending Their Reach
- Industry Trend: Bank White-Label Services
- Industry Trend: Dual Strategies
- Societal Trend: Exploding Data
- Technology Trend: Banking API’s
- Market Trend: Digital Natives
- Market Trend: Mobile Adoption
- Technology Trend: Digital KYC
- Potential Technology Trend: Internet of Things
- Industry Trend: The Bank Finds You
- Potential Industry Trend: Mobile Wallets Replace Cards
- Industry Trend: Social & Mobile Payments
- Industry Trend: Virtual Currencies
- Industry Trend: Social Finance
- Technology Trend: Big Data
- Potential Industry Trend: Bank as Data Manager
- Technology Trend: WiFi Availability
- Technology Trend: Fast Cycle of Consumer Technology
- Technology Trend: Biometric Authentication
- Industry Trend: Social Servicing
- Industry Trend: Social Reputations
- Market Trend: Increased Substitution with Capital Markets
- Industry Trend: Aggregator / Comparison Sites
Banks need to be agile in the build/test/deploy of new apps. Digital Bank describes banks that invested in iPhone and then customers switched to Samsung. This will accelerate. Indeed, consumer technology is an important part of the environment for Banks. Pol Navarro believes “innovation is a need to adapt to an environment, which changes faster and faster. If companies do not change at least as fast as their environment, they will not survive.” in his interview in part 2 of the book.
Banks need the capability to sustain a rapid deployment of new apps on diverse devices. The devices will not all be phones or tablets. No one knows which technologies will be important or for how long.