Banking on Innovation

About the Event

Innovate or stagnate! Financial services institutions are facing pressure both from the increasing use of digital technologies and changes in customer behaviour and expectations. New entrants, previously considered as ‘small’ and not an imminent threat, are now growing at an exponential pace. Established players, such as Amazon, Google, Facebook and PayPal, are now also seen as a potential threat. We are perhaps nearing a tipping point, with activities in branches reducing and mobile and online banking operations multiplying, along with the continuing explosion of interest in social media. There is a wealth of customer information held by banks, and there are many initiatives for packaging, analysing and using this ‘big data’. Banks need to be aware of the challenges ahead and must be ready to embrace them. Innovation will play a pivotal role in this. The Efma Banking on Innovation conference provides a forum in which such pressing issues can be properly discussed and debated. Delegates can learn about innovative ideas and new practices and will also have the chance to network with their peers. Key questions • When is innovation appropriate? What are the pros and cons of the different types of innovation? How can banks resolve the tensions between innovation and protection? • What are the key areas of innovation? What are the latest developments in social media, mobile banking, gamification, Facebook banking, etc.? • How can banks stay ahead of new entrants and other external players? How can innovation help to counter the perceived threats? Hot topics • A strategy for migrating towards a ‘digital bank’, acting as a knowledge distributor • Challenges in adopting innovative technology • Results of recent research • Views from innovative start-ups • A panel discussion on disruptive innovation and other issues