1. Fintech – Financial Institution Collaboration & Competition
Sameer Singh Jaini
TheDigitalFifth

2. Agenda Digital Revolution led by Fintech
Financial Institution – Fintech : Competition / Collaboration
Go Digital – Strategy to Win

3. What is Fintech? Finance Turbo Charged by Tech Customer Focus
High Velocity
Zero TAT
Zero Defect
Invisible / zero friction
Relevant
Secure &
Compliant`

4. Why Fintech Now? Customers Mobile 30 crore Smart Phones
Data availability
Social media trained
Mobile
Simplified KYC
Supports IRIS / Biometric
OTP Based for small ticket
Aadhaar
Identity – KYC
Payments – UPI / IMPS / NEFT
Credit – CIBIL
Accounts – Savings / Loans
Social data
API
Machine learning / deep learning (as API?)
Big Data
Advisory
Analytics
Mobile
Aadhaar
Customers
API
Analytics

5. Source: LTP

6. Views of Fintech leaders

7. Views of Financial Institution Leaders

8. Remember stock exchanges?

9. Impact on incumbents

10. Industry Actions

11. Would this be enough with competition so intense ?
1000+ Fintechs are coming

12. And New ones are born digital…

13. Is this the Customer’s Journey now?
Marketing
Partners
Sales
Credit
Ops
Ops
Tech
Digital Marketing
Website
Direct Sales Agent
EDSAs
Fintech Partners
Lead Management
Conversion
Sales Handling
Credit Analysis
Operations
Channels
Service Delivery
GOAL

14. FinTech Financial Institution Financial Institutions
Fintech Vs financial institutions
FinTech Financial Institution
Financial Institutions
FinTech Companies
Digital Power
Low Capital & Customers
Low Trust
Agile & Innovative
Digital Power
Capital & Customers
Trust
Agile & Innovative
UI UX Deficient
Capital &
Customers
Trust
Slow

15. Digital strategy

16. Creating Fintech Institution
Financial Institution Approach – Go Digital 1
Collaborate
Work closely with Fintech and co-build 3
Compete
Invest in in-house Tech
Create Digital Culture
Create Digital KPIs against best Fintechs
Creating Fintech Institution 2
Strategic investment focusing on
innovation, speed and future potential
Invest 4
Acquire Fintechs with strategic focus
Acquire pure tech organizations
M & A

17. Strategy for “Go Digital”
Analyze Digital Context
STEP 1
Create Digital Positioning
STEP 3
Execute and Measure
STEP 5
Visualize Future Landscape
STEP 2
Align Digital Initiatives
STEP 4

18. Step 1: analyze digital context
Technology Assessment
Business Strategy
Stakeholder’s expectations
Competitive Positioning
Customer
Focus
Digital Maturity
Digital Assets / Usage

19. Step 2: Visualize Future Landscape
Organization
Evolving Customers
Market Dynamics
Structure
Skills
Culture
Acquisition
Service
Products
Fintech / Cross Industry Competitors
Technology innovation

20. Step 3: Create Digital Positioning
Digital Leader
New Customer Segment
New Digital Products
XX% Digital Acquisition
XX% Cost Reduction
Real-time Analytics & Decisioning
Unified Customer Service
90% Self Servicing
Market Recognition

21. Step 4: Align Digital Initiatives
Priotize
Document Objectives
Strong Governance
Sense of Urgency
Align Digital Initiative to “Market Positioning”
Digitize Customer Journey
Digital Engagement
Digital Acquisition
Unified Service Platform
Digital products
New Customer Segment
Digitize Employee Journey
Unified CRM platform
Process Reassessment & Automation
Tab / Mobility platforms
Collaboration platform
Technology Enablement
Flexible Cloud / Hybrid Infra
ESB / API Enablement
Big Data & Analytics
Inhouse / partner model
Highly secure
Collaborate with Fintech
Align Skilled and Adequate Resources
Crash Organization Silos and Build Digital Culture

22. Examples of digital initiatives
Omnichannel Platform
- Mobile
- Web
- Branch
- API Platform
Lead Management Platforms
- Chat
- Cross-sell
- Up-sell
- New customers
New Digital Product
- 10 second loans
- Online account opening
- ASBA on Mobile
- Acquisition through Fintech partners
- Acquire Fintech
- Invest in Fintech
Employee Enablement
- Mobile / Tab based customer origination
- Training & Demo
- Collaboration
- Near zero manual steps
Big Data & Analytics platform
- Real time events driven digital marketing
- Enable fast business decision
- Analytics based Credit decision
- Buy Analytics partners

23. Step 5: execute & measure
Governance
Track / Escalate
Fail fast
Measure results
Celebrate Success
Product / Sales / Ops / Credit / Tech Merged into Team Digital
Get Customers on board as “Beta testers”
KPI tracking
Evaluating continuously
Daily dashboard
Weekly Steering Committee
Investment of 30% of Top Management Time
Capital investment
Training / Hiring for Success
Differential remuneration
Onboarding partners

24. Lets digitize the industry
@ssjaini