RIDING THE WHEELS OF INNOVATION & TECHNOLOGYToday’s Defining Guides & Principles to Brand & Product Development

RAJA TEH MAIMUNAH

BANKING EVOLUTION: THE EARLY DAYS

JOHN SHEPHERD-BARRON

27 JUNE 1967

“Which one would you rescue first?”

Buy coffee – use my Contactless Card

Colleague pays for lunch using PEx+ at partner restaurant….I pay her my portion using PEx, sending the amount straight to her account

Check my account balance on my Apple Watch

Pay my bills through my Mobile Phone

Left my ATM card in the office, use phone to withdraw money for maid

Movie with kids. Buy tickets & scan QR with mobile

CASE IN POINT:MY OWN

EXPERIENCEWITH MY BRAND

“What? ‘Branches’?”

World’s largest taxi operator

DOESN’T OWNA SINGLE TAXI

World’s largest accommodation

providerDOESN’T OWN

A SINGLEREAL ESTATE

World’s largestcommunication

playersDON’T OWN

A SINGLETELCO

INFRASTRUCTURE

World’s largest movie house

DOESN’T OWNA SINGLE

MOVIE THEATRE

World’s most valuable retailer

DOESN’T OWNA SINGLE

INVENTORY

World’s leading travel agent

DOESN’T OWNA SINGLE PHYSICAL BRANCH

World’s fastest growing bank

DOESN’T HOLDA SINGLE CENT World’s Most

PopularMedia Space

DOESN’T OWNANY CONTENT

JOINING THE DIGITALREVOLUTION

DOMINATING THEMARKETPLACE

Fastest growing food-delivery service.Doesn’t own any restaurants, or motorcycles.

5 million users.40,000 partners.

What is the common underlining attribute all these companies

have?

Converting “What if” questions into reality by leveraging on(1) today’s technology and(2) the shift in customer experience behaviour.

“What if everyone can monetize from taking passengers using their own vehicles?”“What if everyone can monetize from their properties by renting them out as holiday accommodations?

“What if we can aggregate all hotels into one domain and give deals justified by volume?”

“What if customers can have whatever they want to eat delivered to them, and riders making money by delivering them?”

Innovative solutions translated into business ideas have contributed to these staggering figures…

So how can you be part of this fast-growing ecosystem?

“What are you REALLY selling?A service? Product? Lifestyle?”

“Are you entering an already congested market for it?”

“What are you providing that’s truly different from others?”

“Are there any real tangible benefits in providing that

difference?”

“What is the proposition? Is it value? Convenience? Both?”

“Are you changing a behaviour, or riding on an existing one?”

“How cost and labour effective is your idea in terms of operations?”

“Why would customers and partners be loyal to you?”

“Is your business model flexible enough for expansion & diversification?

“Where do you see you’ll be in 5 years? Do you have a set target / benchmark?”

Time-efficient i.e. convenient

Cost-efficient i.e. value-for-money

Positive imageby association

Liberating, makes life more fulfilling

Look at things from aCUSTOMER EXPERIENCE

perspective, less from a product design’s.Wrap your thinking around optimizing the

customer journey

DIGITIZING YOUR PRODUCTSDOESN’T necessarily equate toa better customer experience

This means different things to different people. Know your

customers, and find out what matters to them most e.g. cost,

speed, variety etc.

ONLINE and OFFLINE consumers are birds of very different feathers.Attempting behavioral change, although rewarding, is also risky

So focus on Customer ExperienceIn the context of DIGITAL TOUCHPOINTS

Develop Digital initiatives that COMPLEMENT existing customer journeys, not necessarily changing them

INTEGRATE YOUR GO ONLINE & OFFLINE GO-TO-MARKET STRATEGIES