{ "docId": "019dd923-5ca1-7489-b63a-0c97b0f6ced7", "docSlug": "8c975254e7fcb9d0", "documentTitle": "Blurred lines FinTech 2016", "authorId": "PwC", "authorName": "PwC", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.414, "pageNumber": 31, "pageCount": 36, "prevPage": 30, "nextPage": 32, "slideType": "industry_trends", "function": "summarize", "density": "dense", "nDataPoints": 0, "notes": null, "elementsJson": [ "headline_text", "paragraph", "data_table" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5ca1-7489-b63a-0c97b0f6ced7/31", "deckHref": "/decks/019dd923-5ca1-7489-b63a-0c97b0f6ced7", "deckJsonHref": "/decks/019dd923-5ca1-7489-b63a-0c97b0f6ced7.json", "deckAnchorHref": "/decks/019dd923-5ca1-7489-b63a-0c97b0f6ced7#slide-31", "components": [ { "bbox": { "h": 0.45, "w": 0.3, "x": 0.045, "y": 0.43 }, "kind": "list", "text": "1. The rise of peer-to-peer (P2P) lending\n2. Services and solutions for underserved consumers\n3. The enhancement of credit underwriting/decision making\n4. Solutions that banks will integrate or incorporate to improve simplify operations\n5. Sophistication in methods to reach, engage, and retain customers\n6. The emergence of self-service tools\n7. The move toward non-physical or virtual channels, including mobile channels\n8. The digitalisation of cash- and treasury-management functions\n9. The democratisation of banking and personal finance\n10. The simplification and move toward streamlined product application processes to improve customer experience\n11. The rise of crowdfunding/seed funding\n12. Blockchain", "attrs": null, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f3a24a39-ece2-4d79-9ccb-aa125f03b6bc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.91, "x": 0.045, "y": 0.31 }, "kind": "paragraph", "text": "DeNovo's Team is tracking emerging trends in FinTech to explain which start-ups, technologies, trends and new market entrants are relevant to you and, more importantly, why. The trends highlighted below are a snapshot in time of the most relevant ones for each FS segment. For an updated view, please subscribe to the DeNovo platform.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bc72ac00-5690-4056-8885-94ac8a79cef5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.6, "x": 0.35, "y": 0.43 }, "kind": "paragraph", "text": "Increased levels of technology have enabled an increase in lending without an intermediary.\nLower cost of providing services to customers that are currently underbanked, e.g. in rural Africa.\nMore granular data enable FS providers to more accurately assess and price risks.\nAPIs enable third parties to develop value-added applications for company platforms, artificial intelligence is enabling companies to extract greater customer and insights, employees and intelligent machines are integrating to work as a team, banks are expediting the deployment of digital delivery. And there are many more ahead.\nEngaging customers through gamification techniques in a collaborative environment is leading to better customer experience and reflecting in retention.\nIncrease of customer autonomy in performing every service without human interaction. Self-service tools, such as internet banking and apps, are becoming more popular.\nVirtual banking utilises online and mobile platforms to integrate and simplify customer banking experience. Virtual banking platforms equip customers with on-demand access to manage bank accounts, pay bills, apply for loans, open new accounts, and perform other banking activities through a single portal. Banks are using these channels to collect data from customers, generate new revenue streams and offer compelling value propositions.\nCash and treasury management includes the administration of external and internal funds, cash flow management, and corporate finance policies and procedures. The digitalisation of cash and treasury management functions utilises online platforms to disrupt the traditional models, creating new revenue streams and value propositions. Cross-border payment transfers for businesses, foreign exchanges and invoice management are a few of the functions that are enabled primarily through the advent of online platforms. For example, organisations are developing new processes to perform international money transfers using mobile wallets and cryptocurrencies to improve speed and safety.\nThe democratisation of banking and personal finance describes the shift in which customers take control over their financial health and seek new channels and solutions to assist in this process.\nThe consumer product application process (i.e. loan origination) has been streamlined with the emergence of cloud-based lending solutions and electronic bank account management systems which automate the loan origination process and increase overall transparency in the lending process. The move towards such solutions improves customer experience by reducing the amount of manual work, cutting down time and reducing errors.\nNew funding options have emerged in mid-market, such as P2P lending and marketplace lending platforms.\nUse of distributed and decentralised ledger technology in which transactions are recorded in order to improve payments, clearing and settlement, audit or data management of assets. There is also the possibility to create a so-called \"smart contract\" using blockchain technology. This is essentially a contract that is translated into a computer program and, as such, has the ability to be self-executing and self-maintaining.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ff96b63b-ffa8-4cd2-99e7-4204e0150d10", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.25, "x": 0.045, "y": 0.24 }, "kind": "title", "text": "Summaries of the trends", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c0d97120-ed95-4fc3-93b0-b63a8e4ae431", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.22, "x": 0.045, "y": 0.405 }, "kind": "title", "text": "Summaries of trends for banking", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f24101ea-d08f-4d88-9ff5-6f4f64896938", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }