Bill Gates Banking is necessary banks are not

Bill Gates: “Banking is necessary, banks are not”

Герман Греф: “Главные наши конкуренты – это Google, Amazon и Facebook” © 2016 Forrester

Banks are not blockbuster. . . but the longterm threats will be no less real or powerful.

“We’ve been wrong about what our job is in medicine. . . we think our job is to ensure health and survival. But really, it is larger than that. It is to enable well-being. ” — Atul Gawande

Using a twist on this offers a (potential) vision for the future of banking

Between 1993 and 2000, over 200 new payments systems were launched worldwide. Only one — Pay. Pal — made the big time. In December 2015, Angel. List catalogued 2, 002 startups for payments alone. © 2016 Forrester Research, Inc. Reproduction Prohibited

Change In Payments Is Hard 1. A payment is an emotional thing 2. Payment

To be successful payment system must: 1. Offer a better alternative; 2. Drive adoption to reach scale; 3. Enable a sustainable business model for all parties

Deliver a better alternative © 2016 Forrester Research, Inc. Reproduction Prohibited 11

Drive a virtuous circle of adoption © 2016 Forrester Research, Inc. Reproduction Prohibited 12

Enable a viable business model and collaboration across all partners © 2016 Forrester Research,

Recommendations Станьте ежиками! © 2016 Forrester Research, Inc. Reproduction Prohibited 14

Recommendations 1 Put in place an iterative approach to digital banking strategy and initiatives. • Think "minimum viable payments. " • Testing, measuring, and learning are far more important than any org structure or strategy. © 2016 Forrester Research, Inc. Reproduction Prohibited 15

Recommendations 2 Refocus on building dynamic ecosystems of value for bank customers. © 2016

Focus energy on spotting success, and consider participating or partnering.

APIs and open platforms will take center stage and enable integration with partners ©

Partnerships and partnerships once again › Industry bodies look to harmonise ISO 20022 real-time payment implementation › Swiss banks and SIX plan national mobile payments platform › Swift payments innovation initiative gains ground as 45 banks sign up © 2016 Forrester Research, Inc. Reproduction Prohibited

Thank you Maxim Tambiev +7 903 743 3842 mtambiev@forrester. com

Recommended Forrester Research › February 8, 2016, “How To Make New Payment Systems Successful” › November 10, 2015, “Predictions 2016: Financial Services Execs Wake Up To Digital Transformation” › August 14, 2015, “CX Industry Spotlight: Retail Banking” › March 31, 2015, “What Banks Can Learn From Retailers' Websites” › February 2, 2015, “The Mobile Banking Imperative” › November 6, 2014, “Predictions 2015: Digital Banking Teams Finally Get Serious About Innovation” © 2016 Forrester Research, Inc. Reproduction Prohibited