Convergence – Social Enterprise

26.09.2013 2

Technology:

… emerging telecommunications technologies, and network architecture used to

migrate multiple communications services into a single network

Convergence

Wiki Definitions

Art:

… a 1952 oil painting by Jackson Pollock

Music:

… Dave Douglas album, 1999

26.09.2013 2

Company Description Overview Fidor Group

Fidor Bank AG is a fully licensed web 2.0 bank (since 5/2009) regulated by

the German Banking Authority BaFin holding a “European Passport” and

operative since 1/2010.

Headquartered in Munich/ Germany with currently 32 employees. Unique

combination of experience in web-banking, risk management and IT.

100% Online/Direct Banking Concept, delivering specific financial services

solutions addressing the mayor internet-based market drivers: web 2.0,

social media, e-commerce, online-gaming, mobile internet.

Delivering cost- and service-leadership within its markets.

Offering a unique, customer centric combination of services: Community,

Payment & Banking.

Tailor-made offerings for B-to-B and B-to-C customers.

Partner Business drives growth. Started international Expansion via

franchise- or whitelabel-partners. B-to-B key-customers successfully

acquired.

FidorPay Account: Combining the digital ecosystem with traditional

banking services: integration of third party banking services such as

virtual currencies, peer-to-peer money transfer or crowd-financing.

Operating infrastructure : proprietary technology platform ‘F2’

guarantees high scalability, standardized interfaces/APIs allowing for

more convenient and enhanced banking experience.

Fidor Pay

AccountBanking

Fidor Prepaid

MasterCard

Corporate

Services

Saving Certificates

Lending

FX Exchange

Precious Metal

Crowd Finance

Peer to Peer

No top-up; Account

Balance only

Internet Shopping

Insurance

Co-branding or Co-

issuing for

Corporate Clients

Combining Wallet

and Cash Account

Open-platform

architecture

Rapidly expanding

offerings from third

parties and Fidor

Bank, e.g. virtual

currencies

White-label

Corporate Wallet

Payment against

Installment

Payment against

Invoice

APIs to Accounting

Software

Combining B-t-C & B-t-B Business

b-t-c;

95%

b-t-b;

5%

Deposits

b-t-c;

20%

b-t-b-

t-c;

80%

Lending

b-t-c;

25%

b-t-b;

75%

Commission

Selected Products and Services

Executive Summary

Fidor Bank AG

326.09.2013

26.09.2013 4

Traditional

Retail Banking

is unsinkable!

Financial Crisis

Social Media

Technology426.09.2013

Consequences for the banking sector

Change in customer behavior

• More critical and better

informed customers

• Multidimensional

communication

Different contact points

• @home: via internet and

telephone

• On-the-go: via mobile

internet/Apps

• Multichannel contract

signing

New success factors in online

sales

• Target group specific

customer journeys

• Search engine optimization

(SEO) and marketing (SEM)

• Focus on social platforms

New market players

• Competitors (FS and PSP’s)

with focus on innovative

services in a digital

environment

• Social platforms are

accepted online players in

the market (e.g. Facebook,

Twitter)

Drivers that effect banking:

• 2020: expected internet usage in Germany

> 90%

• Wide parts of the population (including

retirees/”silver surfer”) are completely

integrated in the web

• Internet will become increasingly more

interactive

• Increasing significance of

User-Generated-Content

• Web 3.0, predictive shopping

• 2013: smartphones outnumber desktop

computers

• 2014: number of mobile services users

exceed stationary users

• Increasing development speed of

connections and storages and CRM

solutions.

• Mobile Apps gain importance

Internet

penetration

Mobile

internet

usage

Web

development

Dynamic

Technology

process

526.09.2013

Game-Changer

26.09.2013 6

Germany – Trust in Industries

Bank & Insurance

Development Branch vs. Internet

26.09.2013 6

26.09.2013 7

What do my

customers really

want?

26.09.2013 7

Open API:

One account for all

finance apps

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Integration via

open API

Integration via

open API

Innovative-StartUps

Needs:

+ Market awareness

+ Legal certainty

+ Financial support

+ Quick decision-making

+ Low legal costs

+ …

International Retail Banks

Needs:

+ New Innovations

+ Flexible Solutions

+ Time-to-Market

+ Scalability

+ International Roll-Out

+ Legal certainty

+ …

White Label

Solutions

White Label

Solutions

Scalable Technology &

Business Model

26.09.2013 9

10

Payment

Community Banking

Ban

king

&

Co

mm

un

ity

• No other Bank operates a User-Community with the objective of

Crowdsourcing, Peer-to-Peer support and Banking-Offers.

• No other Payment Service offers

the support by a User-

community, Peer to Peer Banking

or Crowdfunding.

• open APIs for shared develop-

ment and integration of third

party offerings.

• No other Community Platform

has a Payment Offer or is allowed

to operate one.

• Only very view Banks offer

Internet-, Mobile-payment and

Wallet-Services.

• No other Payment Service offers

full Banking services.

New Business Modell

in Banking

Customer-Support-CustomerCustomer-Support-Customer Product Co-CreationProduct Co-Creation

Financial Advisor RatingsFinancial Advisor Ratings Product RatingsProduct Ratings

�Lowering support costs

�Improvement of

credibility

�Quick response time

�Lowering support costs

�Improvement of

credibility

�Quick response time

�Product creation along

customer needs

�Acceptance Pre-test in

the community

�Product creation along

customer needs

�Acceptance Pre-test in

the community

�Transparent quality

assurance

�Data superiority (ratings)

�Controlling-Tool for

incentives

�Transparent quality

assurance

�Data superiority (ratings)


incentives

SCREENSHOT

�Cost-efficient feedback

system for market

acceptance


internal business

development

�Cost-efficient feedback

system for market

acceptance


internal business

development

Community

Added Value

1126.09.2013

4.177 Advisors rated by

community users

1.735 Suggested

improvements

2.528 rated finance

products

3.934 saving tips

by community users

5,3 replies on average on

money questions

5 user act as moderators

Anonymous Asset

Allocation Comparison

… and much more.

4.177 Advisors rated by

community users

1.735 Suggested

improvements

2.528 rated finance

products

3.934 saving tips

by community users

5,3 replies on average on

money questions

5 user act as moderators

Anonymous Asset

Allocation Comparison

… and much more.

12

Fidor Community

13

~220.000 Registrations

Investment in savings

bonds

Precious Metals

easy via mouse click

Prepaid Smartphone

Prepaid MasterCard

FX

Virtual currencies

Crowd-Finance

Peer to Peer

Lending and Brokerage

……………and more to

come

~220.000 Registrations

Investment in savings

bonds

Precious Metals

easy via mouse click

Prepaid Smartphone

Prepaid MasterCard

FX

Virtual currencies

Crowd-Finance

Peer to Peer

Lending and Brokerage

……………and more to

come

Fidor Community

26.09.2013 14

WIE?

Unternehmensname Claim

„Die Fidor Bank ist ein vertrauensvoller Partner für das Senden und

Aufbewahren digitaler Assets.“

„fidor“ = Lateinische Form des Verbs fidere

„Mir wird getraut…“„Banking mit Freunden“

Das gegenseitige Vertrauen steht im Mittelpunkt unserer Positionierung

Vision

Question: 09:14 pm via iPhone

1. Answer: 09.22.07 pm

2. Answer: 09.22.59 pm

3. Answer: 09.46.40 pm

10. Answer: 00:21:11 am

Mobile Community

Fidor Use Case

Community

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Fidor Use Case

Like Interest Rate

One example for

innovation @Fidor Bank:

Simple Principle: The

more „LIKES“ Fidor Bank

on Facebook, the higher

the interest rate for all

FidorPay Accounts gets.

-> Facebook Fan-

Growth from 2.000 likes

to 14.000 likes in 7

months

Easy Handover: Fidor

Bank is Germany´s first

bank supporting the user

to register with a

facebook connect

process.

One example for

innovation @Fidor Bank:

Simple Principle: The

more „LIKES“ Fidor Bank

on Facebook, the higher

the interest rate for all

FidorPay Accounts gets.

-> Facebook Fan-

Growth from 2.000 likes

to 14.000 likes in 7

months

Easy Handover: Fidor

Bank is Germany´s first

bank supporting the user

to register with a

facebook connect

process.

1526.09.2013

PFMDesign

Mobile Mobile Mobile

Virtual Currencies

Gaming

Communities

Peer-to-PeerCrowd

Open API-System

Prospects:

Retail Banking

in 5 Years

1626.09.2013

Vielen Dank

Fidor Bank AG

Florian Eismann

Sandstraße 33

D-80335 München

Phone: (089) 189 085 233

Fax: (089) 189 085 199

E-Mail: [email protected]

Internet: www.fidor.de

Thank you…

1726.09.2013

Convergence – Social Enterprise

Technology

Transcript of Convergence – Social Enterprise