Royal Bank Financial Group e-Business Vision
Transcript of Royal Bank Financial Group e-Business Vision
Royal BankFinancial Group
e-Business Vision& Strategies
Industry Positioning
RBFG eBusiness
• Royal Bank judged Internet Bank 2000 World's top-ranked bank for e-finance Lafferty Research UK, December 1999
• SFNB rated #1 Internet bank for 7 Consecutive quartersBoston-based Gomez Consultants, August 2000
• royalbank.com rated the most popular Financial Services web site destination for Canadians Media Metrix Canada, September 2000
• The bank has demonstrated innovative thinking towards the internet and other changes in technologyMorgan Stanley, December 1999
Strategic Issues
RBFG eBusiness
CustomerConnecti
vity(B2B & B2C)
CustomerConnecti
vity(B2B & B2C)
Informed
Consumer
Informed
Consumer
Disaggregation
Of Value Proposition
(Products separate
from services)
Disaggregation
Of Value Proposition
(Products separate
from services)
Unbundling
of theValue Chain
Unbundling
of theValue Chain
GlobalCompetiti
on
GlobalCompetiti
on
Challenge:Competitive standard for products, services & relationships is raisedCustomer views self as being in chargeCustomer has easy access to tools & information to create own solution
Challenge:Competitive standard for products, services & relationships is raisedCustomer views self as being in chargeCustomer has easy access to tools & information to create own solution
Challenge:Marketplaces are being reshapedBandwidth becoming free and unlimitedUbiquitous access - anywhere, any time, multiple personal devices
Challenge:Marketplaces are being reshapedBandwidth becoming free and unlimitedUbiquitous access - anywhere, any time, multiple personal devices
Challenge:Financial products and previously bundled financial services are being priced separately
Challenge:Financial products and previously bundled financial services are being priced separately
Challenge:Foreign FIs entering home turfFinancial services deregulation
Challenge:Foreign FIs entering home turfFinancial services deregulation
Challenge:Nimble attackers focus on specific pieces of the value chainCreates margin pressure
Challenge:Nimble attackers focus on specific pieces of the value chainCreates margin pressure
Strategic Framework
RBFG eBusiness
Success Measures
Initiatives
Strategies
Vision
• One vision
• Aligned strategies
• Verifiable Measures
• Initiatives
RBFG eBusiness
E-enable each customer’s quest for financial success:
Vision
We build global eBusiness products and services, and trusted relationships that continually draw customers to RBFG.
• Build essential relationships with customers and partners
• Create and distribute selected world class eBusiness products and services
• Continually improve organizational cost efficiencies through the deployment of eBusiness technologies
• Take a leadership role in creating new businesses
Strategies
RBFG eBusiness
Aligned Strategies
• being easy to do business with,
• being attractive to partner with,
• personalizing solutions, and
• integrating into their life-experience or business workflow.
Relationships
Strategies
Build essential relationships with customers and partners by:
Relationships
Strategies
SeamlessCustomerExperience…..?
8
• establishing a customer centric eBusiness product development discipline• take a portfolio approach to eBusiness
product development• cross-functional/cross-platform team• real-time development, market testing
and launch
• entering selected new markets to reach high-value segments
• partnering for scope, reach, speed, shared risk
Products & Services
Strategies
Create and distribute selectedworld-class eBusiness products and services by:
Products & Services
Strategies
World ClassProducts…..
“THERE’S NOTHING WRONG WITH OURPERSONAL FINANCE SOFTWARE, WEJUST DON’T HAVE ANY CUSTOMERS.”
• fully leveraging web technologies
• enabling complete customer self-service
• providing straight-through transaction processing to back-end systems
Reduce Base Costs
Strategies
Continually improveorganizational cost efficienciesthrough the deployment ofeBusiness technologies by:
Reduce Base Costs
Strategies
Business Unit BBusiness Unit A External Partner
It’s about breaking down internal walls: integrating and redesigning enterprise processes to gain efficiencies.
Then it’s about breaking down external walls: integrating and redesigning inter-enterprise processes using the Internet
1999 © The Concours Group.RBC051000
• investing in opportunities aligned with RBFG strategic intent
• capitalizing on disruptive opportunities that have potential for high impact
• being fast into market
Innovation
Strategies
Take a leadership role in creating new eBusinesses by:
Innovation
Strategies
CreatingneweBusinessesalignedwithstrategicintent…….
Aligning Initiatives To eBusiness Strategies
RBFG eBusiness
Strategy Initiative
Relationships
Products &Services
Reduce BaseCost
Innovation
Self-enrollment for on-line banking
Online cheque ordering
Directional Analysis of Current Initiatives
RBFG eBusiness
Strategy 1 Strategy 2 Strategy 3 Strategy 4Trends/Challenges Relationships Products and
ServicesReduce Base
CostsInnovation
Informed Customer
Customer Connectivity(B2C)
Customer Connectivity(B2B)
Disaggregation of ValueProposition (Productsseparate from services)
Unbundling of the ValueChain (margin pressures)
Global Competition
High initiative alignmentMedium initiative alignmentLittle initiative alignment
Key:
RBFG eBusinessB2B Online Marketplace Strategy
V- Market
FinancialServices
E-Procure
FreightFwdr
Insurance
WebHosting
RBFG Financial Services
Internal E-Procurement
Spend Aggregator
Horizontal Marketplaces
Vertical Marketplaces
OnlineBusiness
Centre
Agriculture Hotels RealEstate
IntranetAriba
Indirect
Capital
CustomsLogistics
Accting HR
Trade/FXL/CsL/GsFX
PaymentWireACH
Tax Filing
BankingBalancesTransfersReports
Risk MgtCredit
ScoringD&B
A/R MgtLock BoxBills pdBill Pres.Inv Pres.