Building the ’10-times-better’ bank

The financial services market is going through many changes. New challengers have appeared and are looking for a slice of the market. In addition, customers are more demanding and more informed, expecting convenience and simplicity when it comes to financial services, particularly online and via mobile devices. People love digital services such as Netflix, Amazon, and Uber because they’re easy to use and deliver great customer experiences. They deliver 10 times more convenience and better customer experiences than the status quo, and are therefore winning the market. It’s only a matter of time before the 10-times-better bank is founded, a thought that’s on the radar of every banker.

This brings us to a new report we at Backbase published last month – Omni-channel banking: The digital transformation roadmap – which outlines the journey of creating the 10-times-better bank, providing a detailed analysis of how banks can begin their digital journey.

The report is based on the Omni-Channel Banking Survey conducted by Backbase, and completed by more than a hundred C-level bankers from across the globe. The report also contains the findings from more than 15 interviews with bank executives, as well as the 7 Habits of a Highly Successful Digital Bank, written by Roberto Ferrari, general manager of CheBanca!, the No 1 digital bank in Italy. The report highlights five important takeaways:

New competitors in banking: The disrupters
Discover how and why the market is changing – how it’s driven by customers, and by tech companies, startups, and neobanks.

Customer experience: The key ingredients
Understand how customer loyalty and retention is affected by a mix of superior digital experiences and human interaction, and how delivering this mix is the primary challenge.

Omni-channel and the changing channel mix
100% of the banks in the survey results rate the creation of a seamless omni-channel experience ‘important’ to ‘extremely important’.

Mobile’s impact on online sales and share of wallet
Customer behavior is affecting the channel mix and revenue generation. The survey results reveal that mobile channels record the highest increase in revenue generation.

Regaining control in the era of digitization
To succeed in the market and beat the disrupters, banks should regain control of business strategy, and be able to build and deliver unique experiences with their customers.

Download the full report for free via http://www.backbase.com/knowledge/white-papers/omni-channel

Backbase Fall 2015 Roadshow

We are on the road again for our yearly Backbase fall roadshow. I’m attending and speaking at the following events, ping me if you are attending as well or close by.

Version 3 of the Startup Marketing Framework

April Dunford just published the latest version of the RocketWatcher Startup Marketing Framework. Great input for every marketer in a B2B and enterprise software / tech / SaaS company.

startup marketing framework

As with previous versions, the framework does not attempt to cover things that I would consider to be more “Product Management” focused (like product roadmap for example). I’m taking a purely marketing point of view here.  The Framework also assumes that you have a product in market, you feel fairly confident that you have a good fit between your market and your offering and you are ready to invest in lead generation. If you aren’t there yet, there are things here you won’t need to (and more importantly, shouldn’t) worry about yet.   Lastly, my background is B2B marketing so like most content on this site, this has a B2B slant to it.  That said, I think most of it applies to a B2C startup.

Full blog post: http://www.rocketwatcher.com/blog/2015/02/a-startup-marketing-framework-version-3.html

New challenge as marketer: branching out into programming

Marketing and fintech are fun, but sometimes you like to expand your knowledge and experiment in different areas. For me, this area is web development. As a copy/paste developer that knows the LAMP stack reasonable well, I decided to branch out and learn something new. Of course, you can spend most of your time deciding what to learn, and you end up in plenty of discussions about Ruby vs Python vs JavaScript and their many frameworks.

I decided to dive deeper into Python and the Flask framework. The main reason: it ‘feels OK’, it feels lean and I like how Python is clean, easy to learn and offers a mix of use cases: from data analysis to web development, etc.

Most people want to learn something to create something. However, in most cases you spend a lot of time getting your setup ready, building the most common things (login feature, database migrations) and you have to worry about how to host or deploy this. Therefore my first project on this new stack: creating a Flask App Blueprint.

With the Flask App Blueprint I want to create a basic repo that once cloned and configured gives you a powerful stack, ready to scale, that can instantly be deployed and makes you focus on creating the differentiator: your app, vs the basics.

See the GitHub repo at https://github.com/jelmerdejong/flask-app-blueprint — let me know your comments!

The full stack: