JOOB was proud to be a key sponsor at the annual FST Media Technology and Innovation Conference this month in Sydney. For us, it was about creating some real debate about different approaches to innovation in the financial services industry. Too often a familiar “me too, I agree” response emerges at these events. We were delighted and considered it a success that panelists on the Innovation Leaders Panel lead by JOOB disagreed on the best approach to meeting customers’ expectations.
Online and mobile banking, technological innovation and mobile strategy were a hot topics discussed by almost all of the key speakers at the event.
George Frazis, CEO of St George Bank opened up the conference talking about leveraging technology and innovation for better customer service. One key driver for innovation is the rapid uptake of mobile in their business with usage up 186% on last year – in one month there were 1.7 million mobile transactions worth $745 million. Mobility, internet and social media is changing the way St George do business and challenging their business model – “out of the box” thinking is needed with an entrepreneurial approach to business, along with being mobile ready.
As often happens at these events, there were a few speakers who did a bit of the old chest beating However, when it came to the Simple presentation from Co Founder and CEO Shamir Karkal, this was justified. With a waiting list for customers to join, it’s evident how successful Simple have been at leveraging new technology to truly redefine the customer experience and emerge a new type of bank.
It was interesting to see how the uptake and use of video will be used in the future. Steen Mertz from Jyske Bank took us through their bank journey and impressed the audience with the unique use of TV as a powerful communication medium and tool to engage internally and externally.
Ubank’s launch of peoplelikeu.com.au provided a great example of how to deliver digital innovation through the convergence of big data and a new customer proposition.
The Innovation Leaders Panel with our own Mobile Digital Strategist, Justin Wilden was a fitting ending the event. The themes throughout the conference were discussed, including the increased customer expectations redefining the customer experience, harnessing big data, keeping up with technological change, and using digital media and mobile to better engage customers and staff. An interesting debate was also sparked amongst the panellists about the best approach to fostering a forward thinking work environment which encourages innovation.