1. The Club Innovation Banque Finance Assurance and the FiDJI Project 2 nd Innovation For Financial Services Summit Jean-Luc STRAUSS Financial Services Innovation Practice Manager/Secretary of the Club http://innovation-finance.altran.fr

2. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 Banks & Insurance companies are ripe for a new era of innovations towards large public customers, are they ? 2 2  No patent -> no ROI  Intangible products -> easy to copy  Compliance to regulations eats all money BUT new territories for innovations  No academic support -> no process  Wall Street bank attitude vs Main street  Marketers too comfortable with clients  Push products vs satisfy needs  Customers’ low level of trust since the crisis  Banks & Insurance companies reluctance or present ability to engage in innovation  New generations have different behaviors and expectations  Burden of sustained pace of new regulations  Thanks to new regulations, new entrants are increasing the level of competition  Social role still pro-eminent even though hidden to majority of people  Extensive coverage of population  Width of the products & services catalog  Permanent technological adaptation to distribute through any new channels  Customers want a better life: Y/Millenium Generations, longer life, protection against new risks (diseases, environment, nano-tech, biotech…)  under-banked or under-insured population  Advanced technology -> new customizable offers  Strong demand for CSR STRENGTHS WEAKNESSES OPPORTUNITIES THREATS

3. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 What to do ? 3 INNOVATE FOR THE REAL BENEFIT OF CUSTOMERS…  Since ATM & Credit card, any genuine innovations? ›Web banking? … Finally yes ›Mobile payment? … When ??  Reconnect with the people WHERE TO ?  Limitations of marketing tools -> Deeper into customers’ behaviors  Be at Customers’ service HOW ?  Human centered methodologies -> Design Thinking  Advanced analytical technologies -> Predict new demands  Etc…

4. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 Altran & the Club 4  Mid-2008, Altran = global leader in Innovation mainly in Industry >> Innovation Practice in Financial Services: France + Spain.  March 2009: Club Innovation Banque Finance Assurance ›Directors of Innovation of BNP Paribas Retail World, Groupe Société Générale, Crédit Agricole SA, BPCE, La Banque Postale, GE Capital, Groupe Axa, CNP Insurance, Generali France, Groupe Groupama, Humanis, Macsf ›Academics from Essec-Isis, Un. Paris-Ouest, IDRAC Group ›Paris-based Innovation Cluster « Finance-Innovation » ›Membership is free though the projects need fundings  A reference center in France? In Europe…? Ambitions…!!

5. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 What is special about the Club which makes it successful? 5  Same vision : Innovation is necessary ›To raise again the trust ›By focusing on deep customers relationships & insights  Competitors work in co-opetition on innovative ideas  2010: FiDJI project = usefulness of Design Thinking for Marketing  BNNP, SocGen, CASA, Generali, Groupama, Altran, BETC Design, Un. Paris-Ouest, Parsons school  2012: Fidji >> FAIR = FiDJI + criteria for generating responsible innovations  Other working groups: ›OpenBank, ›Managing the longer life ›White paper : innovation in French banks & insurance companies

6. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012

7. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 Usually, Design is apprehended as … Style Design 7 But, in Finance, we design immaterial products & services… for sometimes complex concepts: credit, payment, CDO, CDS, LoC,… which need to be attractive, somehow stylish…

8. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 Here comes Design Thinking 8  multi-displinary team: customers, salespeople, marketers, anthropologists, designers, specialists…  Observe & collect the experiences: human side of the customer (true-life, experience, behavior, sociology, feelings…)  Shake-up via co-creativity & co-design  Materialise the innovative idea  Coined by Tim Brown from IDEA  Major innovation method in Industry  Not yet in Finance the design ladder >>>>> Human Centered Design >>>>> THE INDUCTIVE WAY

9. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 TOMORROW….. 9  Designers & Anthropologists in the Marketing & Design teams  An integrated co-creation & open innovation daily praxis

10. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 Fidji’s Development

11. Club Innovation Banque Finance Assurance2 nd Innovation for Financial Services Summit21st of septembre 2012 11 Fidji : the video presentations  The making-off  The Proof-of-Concept KEEP UPDATED (IN FRENCH) http://www.altran.fr/innovation http://innovation-finance.altran.fr