Banks & FinTech have gone through different stages in the last few years but they have more things in common than some have realized.

1. Banks & FinTech:
so close, so far
DAVID JIMÉNEZ MAIRELES
@davidjmaireles
davidjimenezmaireles

2. We are going to cover
4 things today:

3. CULTURE PRODUCT TECHNOLOGY MINDSET

4. What’s the current status of
culture in banking?

5. 3 hours/day
Source: AppAnnie, 2019
Banking is changing…

6. …and so are banks and “bankers”

7. Does it really
matter
how employees
dress?

8. FROM
Close
Data controller
Project driven
Multi-layer hierarchy
Follow rules
TO
Open
Data sharer
Collaboration driven
Flat hierarchy
Avoid rules
MASSIVE CULTURE SWIFT

9. Are banking products a
commodity?

10. Being the “face” of banking
PHASE 1
(2011 – 2014)
BANKS
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
FINTECH
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
Offered (and internally or via 3rd party partnerships)

11. Being the “face” of bankingPHASE 1
(2011 – 2014)

12. BANKS
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
FINTECH
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
Offered (and internally or via 3rd party partnerships)
Bundling banking services
PHASE 2
(2015 – 2020)

13. Source: CB Insights
Bundling banking servicesPHASE 2
(2015 – 2020)

14. BANKS
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
FINTECH
ACCOUNTS
DEBIT CARDS
PAYMENTS
INVESTMENTS
DISTRIBUTION
BANKING LICENSE
CREDIT CARDS
LOANS
MORTGAGES
Offered (and internally or via 3rd party partnerships)
Creating a Fintech bank
PHASE 3
(2020 - )

15. Can you spot the differences?

16. From transactional mails to brand experiences
Monzo (2014)
Simple (2011) Revolut (2018)
Incumbents banks
(1960 – 2010)

17. Redesign
banking for
today’s
customer
experience
Before
Now

18. Social media – a branding channel

19. Upcoming bill notification
Travel insights
Proactive help
NOT
penalty fees

20. Technology – what’s the
difference?

21. New technology… ...new business models

22. New technology has changed the way startups are
created
Source: Kleiner Perkins - FinTech Trends 2017

23. Legacy systems. The Achilles heel of banking

24. Design products with today’s technology
UK traditional banks Atom Bank

25. Translating banking terminology
Source: Optima Consulting 2018

26. 27
Are you driving fast enough?
Challenger banks
10
Incumbent banks Source: Optima Consulting 2018, average iOS updates per year
and FinTech

27. Incumbent banks are catching up….
…6 years later
2012 2018

28. What’s the difference in the
mindset of banks and startups?

29. Incumbents
Head of Digital Transformation
Head of Innovation
Head of Data
Head of Customer Experience
Challengers
Head of Product
VP of Growth
Head of Partnerships
Head of Culture

30. Source: Company reports / websites / F-Prime analysis
Scalability (and CACs) not seen before

31. Source: Company’s respective press releases
Millions of customers, accounts and downloads

32. Source: Payments and Banking
April 2016
COLLABORATION
The new standard in banking
February 2018

33. Open Banking – New collaboration strategies
Source: Accenture, 2019
Bank owned
channels
New offerings
BaaP (Bank-as-a-
Platform)
Traditional FS
offering
Digital Service
offerings
BaaS
(Bank-as-a-Service)
Ecosystem
partners
3rd parties
CaaS
(Capability-as-a-Service)
CHANNELS
OFFERINGS

34. THE FUTURE OF BANKING
BANKS VS FINTECH
BUT
BANKS & FINTECH

35. DAVID JIMÉNEZ MAIRELES
@davidjmaireles
THANKS!