Digital Banking 25

Omnimobilechannel

Dear all

If you watch Bloomberg, you will be aware that one of the week highlights has been Google (aka Alphabet) becoming the world's most valuable company.

http://www.statista.com/chart/4307/google-market-cap/

The reorganization of Google into Alphabet is paying off. A company with present, and a company building its future. And by the way, ours with theirs.

The modern consumer wants it all - mobile, online and branches - and expects all access points to work together in a single, harmonious, delightful user experience. But, what about simplifying life and making the access point to be unique? Fernando García Quismondo talks about what he has called "omnimobilechannel", referring to the fact that nowadays we have almost all channels in the mobile device: web, mail, chat, voice (of course), apps ... Companies are still thinking of "channels" when the reality is that they all are converging on a single device. And it will be customers choosing what "channel" to use in their mobile devices.

Talking of mobile banking, pay attention to thefinancialbrand.com/56959/mobile-banking-roi-benefits-research/. A very good article, ellaborating on why mobile banking is profitable. It seems to me as a catch 22 situation, where nobody knows if profitable customers become mobile customers or if mobile customers become profitable, but there are some data suggesting that former non-mobile customers increase the number of products consumed and the volume of transactions - to charge a fee will be up to each entity - when becoming mobile.

Let's do as Alphabet, let's dream the future (and with the future). Something I have really enjoyed, bankinnovation.net/2016/02/who-wants-to-chat-with-a-robot-turns-out-everybody/. I like the idea of robots not having the perfect knowledge, but interacting with people as humans, sometimes talking of things that have an indirect relationship with what has been asked ... and what really caught my interest was to think that when we say "talk", often we are meaning "chat". And it applies not only to millennials, but all agers. Delivering good financial advise through whatsapp ... with a robot ... would be simply "awesome".

And to finish …www.mckinsey.com/insights/business_technology/how_shared_services_organizations_can_prepare_for_a_digital_future. Only four reflections of my own:

• Digitalise Operations ... is the second 'frontier' - most people are still crossing the first. We are constantly focused on the interaction with the outside, that we forget to reflect on how to use all these ideas, capabilities, possibilities ... .in how we work internally

• Yes, we will also have a war for talent in this area ("Rather than hire low-cost, entry-level talent, shared-Services Organizations will need to look for expertise in areas: such as point robotics, data analytics, and agile software development")

• Considerations on analytics, robotics, DevOps, ... are pretty much exciting

• "The IT and operations groups in shared-Services Organizations have been traditionally siloed; in a digital world, the two entities will need to collaborate frequently more and more effectively "

Have a very nice week.