Fintech and Insurtech: an opportunity for development not to be lost

Transcription

1 Fintech and Insurtech: an opportunity for development not to be lost Savino Damico Head of Fintech Ecosystem Management and Monitoring Innovation Department GIOIN: «Fintech» Milano, 12 dicembre 2018

2 1 Intesa Sanpaolo Some key data

3 Intesa Sanpaolo Group at a glance: Financial Highlights 2 Figures as at September 30 th, 2018 (1)Including Net Income (2)As at October 31 st, 2018

4 3 Innovation Journey and approach

5 During the last three years Intesa Sanpaolo launched a decisive path of digital transformation 4 New Banking Platform Incremental evolution of the Group Information System New opportunities Multichannel Multichannel retail platform development (internet and mobile banking) Effectiveness on customers Lean Operations Continuous improvement of efficiency and effectiveness Cybersecurity One of best in class Information Security environment in EU Big Data Data lake, Data governance framework and Big Data Lab set-up New information Innovation Open innovation platform and network set-up Data quality Efficiency on projects Digital Factory End-to-end process digitalization and new digital services development Automation

6 The mission of IT, Digital and Innovation Officer Area is focused on 4 priorities 1 Create the "Digital Bank" Enable the Group transformation path towards a "digital company", anticipating and reaching out to needs and behaviors of its customers 5 The new mission of IT, Digital and Innovation Area 2 3 Promote innovation Transform the operating model Qualify the Area as a proactive actor towards the Business in spreading innovation within the Bank, through the use of new technologies and operational models Drive the transformation of Bank s operations and operating model, with a strong focus on revision of "foundations" of the IT platform, also in terms of Cybersecurity to support priorities of the Business Plan: Significant de-risking Cost efficiency Revenue growth 4 Reduce costs Continue the process of reducing Group's operating costs, also through the evolution of the role of Operations as a full enabler of Group digital evolution

7 6 IT, Digital and Innovation Officer Area 6 IT INNOVATION Enable the Group transformation path towards a "digital company", anticipating and reaching out to needs and behaviors of its customers

8 Innovation 7 An operational and technological model able to identify opportunities from the outside and bring innovative solutions on the market IT Needs gathering from Business and Governance divisions INNOVATION Innovation scouting, concept, use and business case definition, PoCs/Pilots (pull vs push models) Fintech/Insurtec h solutions Setup and integration of Fintech and Third Parties solutions based on an Open Platform logic

9 Push Innovation Model Industries Universities Regulators Fintech comp.s Tech comp.s Competitors Observatory and Fintech ecosystem Creation and development of a network of partnerships in order to have a full visibility on market trends and potential impacts on financial services Research and analisys of innovative solutions ready to use for new opportunities and possible integration within the Group Reasearch of innovative solutions to solve specific problems or needs coming from the Business Owners 8 Innovation acceleration Teams Governance Areas Business Unit Pull Proactive proposal of innovative solutions to Business Unit and Governance Areas, completed with Impact Analisys, use case and Business Plan Define the approach to the implementation of the initiatives (proof-of-concept, pilot), jointly with all the internal stakeholders (Business and Government Areas with the support of Digital Business Partner and the IT Department) also in partnership with Intesa Sanpaolo Innovation Center Go/No Go decision and delivery strategy definition together with Digital Business Partner and Business Unit, eventually involving the Corporate Venture Capital Neva Finventures

10 The stage & gate innovation process 9 Business Plan BU engagement Use Case Solution selection & first evaluation Business Case Formal commitment with/from relevant stakeholders Go / No Go EXPLORE FOCUS & SEEK MATCH ADOPT IMPLEMENT

11 10 Fintech Ecosystem Main goals

12 Fintech Ecosystem Relationship Models 11 Collaborations, agreements and partnership at national and international level Academic and technological excellences Agreements with some of the best Italian and international incubators / accelerators Monitoring of the main innovative ecosystems thanks to: Intesa Sanpaolo hubs in New York, London, Hong Kong, Dubai and the international ISP branches Participation and collaboration with some VCs, CVCs (e.g. Neva Finventures, Rocket Internet)

13 12 Proximity marketing Un esempio di co-opetition: Caligoo

14 Proximity Marketing Functional Model 13 Proximity Marketing is the localized wireless distribution of information or advertising content associated with a particular place. Transmissions can be received by individuals in that location who wish to receive them and have the necessary equipment to do so. Thanks to technology, the Proximity Solution expands the possibilities of digital marketing, allowing targeted communications within traditional physical places such as squares, shops, meeting points and, of course, bank branches.

15 Proximity Marketing Key pillars Customization through initiatives based on needs intercepted in Real Time 14 Full integration between online and offline channels using online traffic data to best address the bank-customer dialogue close to a branch or a point of sale Contextualization sending valuable messages in the right place at the right time, able to respond to specific customer needs

16 Proximity Marketing 15 Our goals Cost reduction thanks to the dematerialization of advertising materials transmitted through multimedia channnels Develop initiatives to enhance new value-added services (eg, Bank 5) and new sources of revenues from existing solutions (on offer) Maximize the effectiveness of the visit to the branch (eg waiting times, profiled commercial proposition) Maximize the level of service offered within the branch (eg welcoming, entertainment) Generate additional revenues deriving from: cross-selling generated by promotion activation with Partners incremental sales of products advertised through the App develop joint business with customers increase the level of customer satisfaction Monitor in real time customers behavior (in/close to a branch)

17 16 Thank you! Savino Damico Head of Fintech Ecosystem Management and Monitoring Innovation Department