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With Digital Transformation, Banks Can Be the New Disruptors

As a connected consumer, I can buy a book, plan a vacation, or choose a movie from any number of devices and from any location (home, office, car, or airport!). These interactions are not only convenient, they are more and more highly personalized and tailored to my likes and dislikes. We have all experienced this on Amazon and other commerce sites.

Unfortunately, we don’t get this experience from many banks.

In a Cisco survey of more than 7000 smartphone users and bank customers in 12 countries, 43 percent said that their primary bank did not understand their individual needs. Bank customers in China (54 percent), Brazil (52 percent), Mexico (49 percent), and India (46 percent) felt even more disconnected (see chart below).

Source: Cisco Consulting Services, 2015

Source: Cisco Consulting Services, 2015

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The Data and Analytics Event of the Year!

Today, I’m excited to share with you some details on the 2015 Data and Analytics Conference, October 20-22 at the Hilton Chicago. The inaugural event will showcase some of the most innovative data and analytics thought leaders.

My favorite part of the event is listening to the customer presenters. I’d like to share with you a little background on these speakers and topics they will be presenting to get you excited as you’re planning your trip to Chicago.

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Data Analytics: Transforming Journeys

It’s dawn and I’m catching the fast train from Amsterdam to Paris. Three days of meetings and a view of one of the most fantastic cities in the world. While stepping onto the train, I had a déjà vu moment that took me back to being a student when I traveled around Europe with a train ticket in my back pocket.

nic villa blogTrains have not changed much. Same rails, similar seats, just a different color fabric. Even the people are the same—as diverse as always, each with a slightly different reason for stepping onto the train. What has changed is the whole experience around the journey. Waking up in the morning, I consulted my smartphone for the weather forecast in Paris, which by the way, the alarm function also woke me from a deep sleep. Using an app I chose a taxi by the number of people who “liked” that particular driver with the Eastern European look. Then my phone paid the taxi fare and alerted me that the train was going to depart within five minutes, well before the announcer at the station did. Just enough time for a good coffee. I plan to get the same taxi service in Paris – just Michelle instead of Piotr.

Connectivity has become part of our everyday life. A life in which information follows – and sometimes proceeds us. Our smart devices proactively give useful information; in my case, the cheapest and quickest way to get to the office as well as a mechanism to build a personal connection with my taxi driver; all before stepping into the vehicle. Read More »

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Co-Innovating With Our Customers

In the past couple of years, I have been delighted to see how the digital revolution has accelerated the pace of innovation at warp speed. It has been even more gratifying, however, to experience how this trend has disrupted traditional relationships between technology suppliers and their customers.

Today, the most successful suppliers and customers have become more like trusted partners co-innovating solutions together. Fading fast are the days when the relationship between seller and buyer consisted of a handshake and a few check-in calls before re-engaging again when contract renewals came up. Read More »

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20 Years Hence – What Do Oil, Dating, Digital, and Analytics Have In Common?

How often do you think about the linkage of today’s digital Internet technologies with the gas that we put into our cars and the fuels that heat our homes? Probably not very often. In fact, for many years, I envisioned them as two separate worlds. Here’s why…

Back in 1995, when I met my wife and we were first dating, I distinctly remember talking with her father (now my favorite father-in-law!) Bill Dalgetty about his career at Mobil Oil. Like most senior Mobil executives, Bill started his career at a Mobil gas station and worked his way up over many years, eventually serving as the General Manager of Environment, Health and Safety for Mobil’s operations around the world. Read More »

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