Digital Bank, May 2014

1. Chri kinnerChris Skinner @FSClub and @Chris Skinner @FSClub and @Chris_Skinner www.thefinanser.com

2. Sweden Norway (Oslo) Sweden (Stockholm) Scotland (Oslo) Ireland (Edinburgh) England (Dublin) Poland (Warsaw) SlovakiaEngland (London) Austria (Vienna) Slovakia (Bratislava)

3. Banco Sabadell, Spain, p Barclays Bank, UK Bitcoin, Global d kFidor Bank, Germany First Direct, UK mBank PolandmBank, Poland Moven, USA M‐Pesa, Kenyay Simple, USA SWIFT, Global Th C Cl d Gl b lThe Currency Cloud, Global © Chris Skinner. All rights reserved.

5. Favourable market conditions have created aFavourable market conditions have created a “perfect storm” for the sector Restricted bank liquidity Low interest ratesRestricted bank liquidity (European securitisation, €bn) Low interest rates (average BoE Base Rate) -70% -95% £710bn 8.6%£710bn £240bn 0.5% E-commerce adoption (% retail sales online) Decreasing consumer trust (“banks are well run”) 1975-2008 2009-20132008 2012 (% retail sales online)( banks are well run ) -80% +430% 91% 12% 2004 20141987 2012 19% 2.3% 2004 20141987 2012 Source: AFME, Bank of England, British Social Attitudes survey, Verdict

7. It took 13 years to get two million customers y g using Internet banking; it took just two months to reach that number for mobile bankingto reach that number for mobile banking. [Barclays Bank] It took 10 years to get twenty million contactsIt took 10 years to get twenty million contacts per month through Internet banking. It took 18 months for mobile [Société Générale]months for mobile. [Société Générale]

8. Bank of America spent almost $500 million on bil & i i th t 3 4mobile products & services in the past 3‐4 years Commerzbank will invest €220 million to upgrade mobile and online banking in the next 2 3 yearsmobile and online banking in the next 2‐3 years HypoVereinsbank (Unicredit) will spend more than €300 million to transform into a leadingthan €300 million to transform into a leading multichannel bank by 2016

11. The 21st century internet is asy transformational as electricity in the last centuryin the last century

12. The 21st century internet is asy transformational as electricity in the last centuryin the last century Connecting humans to theConnecting humans to the internet is the war for business this centurybusiness this century

15. Opus Research predicts that the global number of registered voiceprints will increase f 10 illi t 25 illi i 2015 d h f thi ill b b th © Chris Skinner. All rights reserved. from 10 million today to over 25 million in 2015, and much of this will be driven by the payments markets.

16. Agricultural Revolution … coins Industrial Revolution troltd.com … notes and checks www.balat Service RevolutionService Revolution … cards Information Revolution hi… chips

17. Over 80 percent of Tencent’ revenue comes from value added services that usersOver 80 percent of Tencent s revenue comes from value‐added services that users pay for using QQ coins (币, Bì) QQ’s virtual currency. Tencent introduced QQ coins in 2002, and the currency has since become the main driver of China’s virtual goods market, valued at about US$5 billion in 2009.

18. Mone is usty j datadata

20. FindingFinding value in he Datain the Data

21. More than 2,500,000,000,000,000,000 bytes of data (2.5 exabytes) are produced every day:every day: • People send more than 144.8 billion Email messages sent a day. • People and brands on Twitter send more than 340 million tweets a dayPeople and brands on Twitter send more than 340 million tweets a day. • People on Facebook share more than 684,000 bits of content a day. • People upload 72 hours (259,200 seconds) of new video to YouTube a minute. • Consumers spend $272,000 on Web shopping a day.Consumers spend $272,000 on Web shopping a day. • Google receives over 2 million search queries a minute. • Apple receives around 47,000 app downloads a minute. • Brands receive more than 34,000 Facebook ‘likes’ a minute., • Tumblr blog owners publish 27,000 new posts a minute. • Instagram photographers share 3,600 new photos a minute. • Flickr photographers upload 3,125 new photos a minute. • People perform over 2,000 Foursquare check‐ins a minute. • Individuals and organizations launch 571 new websites a minute. • WordPress bloggers publish close to 350 new blog posts a minute. • The Mobile Web receives 217 new participants a minute.

23. The entire works of William Shakespeare (i(in text form) = 5 MB of data= 5 MB of data = 500 billion Works of Shakespeare a day

24. 25 exabytes Valuable SECURE CRITICAL WORTHWHILE IMPORTANT RUBBISH WORTHWHILE 200 zetabytes Erroneous

25. 25 exabytes SECURE CRITICAL WORTHWHILE IMPORTANT RUBBISH WORTHWHILE Erroneous

26. Who will know myWho will know my usernames and passwords? Who will be able to use my facebook, twitter linkedin andtwitter, linkedin and email accounts? Who will haveWho will have access to my eBay, PayPal, Bank and trading accounts?g Who will know about my online life assurance policies, investments and pensions? © Chris Skinner. All rights reserved.

31. People Process TechnologyProcess Technology

32. Cloud computing is the next stage in the Internet's evolution providing the meansInternet s evolution, providing the means through which all your computing needs can be delivered wherever and whenever you need it, y , on demand, and paid for just what you use.

33. A (API) ifi h f iAn Application Programming Interface (API) specifies how software should interact with each other. A company provides an API so that other software developers can design products that are powered by its service.

34. Visa analysed two years of customer records, or 73 billion transactions amounting to 36 terabytes of data, in 13 minutes when processing time would have taken a month usingwould have taken a month using traditional methods.

36. Segmentat Distributing Prodion Capab cessingD etencies Chucts bilities ringProc Compe annels Manufactur

37. Visa analysed two years of customer records, or 73 billion transactions amounting to 36 terabytes of data, in 13 minutes when processing time would have taken a month usingwould have taken a month using traditional methods.

38. Retail Banking Private Banking Commercial Banking Private Banking Transaction Banking Investment Banking Insurance

39. Retail Banking Private Banking Commercial Banking Private Banking Transaction Banking Investment Banking Insurance

40. Launch of x.commerce API Launch of x.commerce API Launch of mobile API Launch of mobile API

41. Average Facebook user has 235 friends 2 000 Likes = 470 000 Views2,000 Likes = 470,000 Views Average cost to gain a registration: €1.33 Average cost to gain a fully KYC processed customer: €16.70Average cost to gain a fully KYC processed customer: €16.70

43. • “I think Chris has added tremendously to the conversation with this book and I highly d ”recommend it.” • Brett King, author of Bank 2.0 and founder of Moven • “This is an up‐to‐the‐minute look at h h ll b k f hthe challenges banks face as the information age goes into overdrive ”overdrive. • Michael Mainelli, Emeritus Gresham Professor of Commerce at Gresham C ll L dCollege, London © Chris Skinner. All rights reserved.

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