Allan Lloyds’ Post

What will the global banking landscape look like in 10 years’ time? And how will strategic partnerships help shape this future? That’s what TrueLayer CEO, Francesco Simoneschi, debated at Money20/20 in Amsterdam, along with fellow industry experts from Lloyds Banking Group, PwC and Mambu: 💔 Customers will change banks for a better experience, so the incumbents need to find ways to stay competitive 🤝 Strategic partnerships — which provide growth opportunities and improve the customer experience — are key 📈 3 in 4 banks are planning to add new partners in the next 12 months Watch the video👇 #Openbanking #banking #money2020

The Banking Forum & Fintech Expo in Filoxenia Conference Center in Cyprus will take place soon (7th of December), and very important issues will be discussed during the speeches: 📢 Stability of the banking sector (in my opinion, particularly important in the context of high interest rates in the Eurozone and the prospect of gradual reduction in second half of 24’) 💵 Macroeconomic trends, which strongly influence the willingness of banks to change their approach to dealing with existing customers 📈 Digital Transformation – this is a topic as wide as the ocean, and at the same time so close to my projects carried out for banks in Poland (I’m really curious what challenges arise ahead of Cypriot banks) I've recently reviewed the banks' strategies for the coming years, and in almost all of them the critical point is (apart from the natural desire to increase interest income) ..... ⚠ the further pursuit of cost optimization and automation of mass customer service processes ⚠ Digital channels, Operational Efficency, Customer Experience - such important things in banking industry! Increasing the efficiency of the entire organization is an obvious profit for the bank. But it is also a big change for the customers themselves, because their journey in the bank's digital channels should be even more optimized and comfortable (if you don't take care of your customers, you have to take into account an important churn factor – the customer does not stand still, and the digital customer even more so). Interesting meetings and talks are ahead of us. See you there 👈 #bankingforumcy #digitaltransformation #banking #processoptimization

Catch up with the news from McKinsey’s 21st Digital Banking Conference in Barcelona last week. Senior partners Brian Ledbetter, Gokhan Sari, Harald Kube, and Leorizio D'Aversa share their observations of how traditional banks are gaining digital ground: “Here come the incumbents.” https://lnkd.in/ehZg94gX #mckinsey #bankingandsecuritiesmatters #banking #technology #fintech #GDBC2024 #DigitalBanking #GenerativeAI #21Conference #GenAI #Barcelona

Did you know? A significant 79% of Hong Kong residents within the age bracket of 55 to 64 are demonstrating an increasing preference for online banking. This trend is a powerful testament to the fact that the digital banking revolution is not confined to the younger demographic alone. Our research dives deeper into the financial behaviors and preferences across varying age groups, offering a wealth of insightful data. Curious to learn more? We invite you to explore our comprehensive report via the link provided below. https://lnkd.in/gHcNY8VD #DigitalBanking #BusinessSolutions #CustomizedInsights #FinancialInsights #DataDriven #financialanalysis #ipsos #hongkong

Participating in last week’s AIM Congress "Revolution of Banking: The Emergence of Neo-Banks" alongside Dr. Krunoslav Ris, PMP®, PBA® Anna Tutova Kelvin Tan Rajesh Johnny Prakash S. Dr. Abdulrahman Al-Ansari was truly insightful.   Here are my key takeaways:   📱 Customer Experience Shake-Up: Neo-banks and FinTechs are bringing in new rules in the banking industry by offering digital-first experiences and seamless onboarding 🤝 Innovation Through Collaboration: The dynamic partnership between traditional banks and FinTechs is not just creating game-changing payment solutions for tech-savvy consumers but also inspiring a new wave of innovation which will transform the entire financial ecosystem 📄 Regulation Paving The Way: In partnership with all types of financial institutions will lead to a new era of compliance and cutting-edge payment technology   It's an exhilarating time in the banking industry, particularly here in MEA, with these payment innovations reshaping the landscape.   #AIMCongress #JPMorganPayments #PaymentsInnovation #NeoBanks #FinTech Kiat-Seng Lim Sorab Khan Jason Clinton Sara Castelhano Ruya N. Valentin Remeuz

Generative AI is the banking productivity real deal

🌐 After the 11th Banking Forum & Fintech Expo in Nicosia: I want to share my personal insights. The event, held at the Filoxenia Conference Center, drew significant participation from various sectors of Cyprus' banking industry and stood out for its seamless organization. 🔍 Keynote Emphasis on Future Development: Presentations focused on the future development of the banking sector in the next 2-3 years, highlighting challenges posed by ongoing digitization. Miltos Michaelas from Alpha Bank Cyprus presented three pathways for banking services: 🏛 Large Banks: Well-equipped to influence the digital service ecosystem, facing pressure from agile and non-traditional financial service providers. 🏬 Medium-sized Banks: Aspiring game-changers, cautiously embracing technological innovation while digitizing selected sales processes. 📱 Fully Digital Financial Players: Focused on digital payment and financing in B2C and B2B models, displaying adaptability, especially evident during events like the pandemic. 💡 Vision for Transformation: Miltos Michaelas proposed a compelling vision for transforming banking services into a subscription-based model, allowing customers to choose temporarily desirable elements. What I understand Banks must exist in customers' everyday worlds to gather information and tailor offerings accordingly, emphasizing event-based marketing. 🚀 Shifting Business Models by 2025: We have seen the forecast suggesting that by 2025, a third of bank revenues from traditional sales models will shift to new digital business models. Almost one third (huge number 💥 ) of current revenue coming from a traditional banking will be replaced by completely new business models (fully digital and augmented by advanced technology). These insights, enriched by experiences from the Australian market, made for a remarkable presentation, offering substantial information for analysis. Stay tuned for more insights from other presentations... 📢 #cyprus #banking #businessprocessmanagement #AI #newbusiness #Banks #bankingforum

🌟 Speaker spotlight 🌟 We’re excited that Jakub Malach, Founder, Chief Retail Banking Officer, Raiffeisen Digital Bank will be taking to the stage at #MLSummit24 (6-7 March, QEII Centre, London). Check out the full agenda here >> https://bit.ly/461qEyo Jakub is taking to the stage in our session on 'Embracing the Platform Economy' where he'll be delivering a case study on Raiffeisen Digital Bank . He'll also be joining our panel discussion 'From business models to distribution strategies: banking in the platform economy' alongside industry titans from Deutsche Bank and Erste Group. They'll be discussing: -Defining your ecosystem strategy: how and where can banks fit into this new value chain? -From Amazon to Twitter to WhatsApp: identifying the best platforms to partner with -From subscription services to white labelling: uncovering new business models in banking -Digging into premium APIs: what’s the secret to profitability and how does this model interplay with the platform economy? -What is the key to success in working with platforms and marketplaces? Marketplace orchestrator or backend financial services partner: accessing the strategic implications for banks -Finding your BaaS niche: what areas remain untapped? What’s yet to be capitalized on? -Developing the propositions of tomorrow: what new value could be created with cross-sector data? Find out more by downloading the event guide >> https://bit.ly/461qEyo #MLSummit24 #banking #payments #financialservices #retailbanking #bank #banking #fintech #fintechinnovation #innovation #technology #event #conference

In case you missed our Digital Banking Conference, here is a brief summary:

Exciting discussions at McKinsey’s 21st Global Digital Banking Conference reveal that traditional banks, or incumbents, are making a strong comeback in the digital landscape. Key themes discussed include the resilience and adaptability of financial institutions amidst geopolitical tensions and economic uncertainties. Notably, the integration of AI, particularly generative AI, is seen as a pivotal factor in driving productivity and innovation in the sector. Leaders are also focusing on identifying "crucible moments" - critical decisions that could shape their future. This shift underscores the importance of agility and strategic foresight in navigating the evolving banking environment. Highlights from the Conference: - Unleashing Generative Artificial Intelligence: Generative AI has seen significant adoption, with usage nearly doubling from 2023 to 2024. Raimundo Morales, CEO of Yape, emphasized that "generative AI technology is not science fiction; it has become a reality", highlighting the focus on impactful use cases for customers and internal operations. - Scaling Generative AI: Effective scaling of GenAI was a crucial topic, covering cost efficiency, robust infrastructure, risk management, MLOps processes for stability, and regulatory compliance. - Broader Impact Areas: Beyond GenAI, advancements in productivity programs and transformations of operating models were explored. Discussions on modernizing core banking systems, such as Intesa Sanpaolo's Isybank, were particularly engaging and thought-provoking.