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[Work in Progress] The future of money

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Simon Taylor

on 21 January 2013

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Transcript of [Work in Progress] The future of money

The Future of Money Simon Taylor Today we're going to look at what the future might look like for This prezi will answer the following burning questions

Why are we becoming Connected Consumers?
What are the Macro Economic Drivers?

And...

How this will impact e-commerce
How Mobile will be bigger than e-commerce

How Merchants could react
How Banks could react
Strategy Takeaways

Summary: The Five Hidden Truths about the Future of Banking The Connected Consumer Social Trends Economic Trends We now consume
lightweight news The way we share
photographs is simpler NetFlix, Amazon and Youtube
are making video content low cost Since 2007 The hardest hit by the
economic crisis has been the young and the vulnerable Trust in traditional FI's is going backwards Whilst LIBOR was a low
point for UK banks the general
trend in bank trust is down Leading to a strength in the
regional lenders such as
Building Societies Bringing disruption
opportunities such as... Since 2005 Zopa has lent nearly
£250 Million in P2P investments The UK Government announced £55 Million
for the P2P lending industry to encourage
lending to businesses The P2P lending market in the UK will be
regulated by the Financial Conduct Authority
from 2014 bringing legitimacy to this new form of lending P2P Loans From October 2011 to
October 2012 UK
Building Society
Lending grew by 29%
YoY to £304Bn Pay Day Loans Source: Bank of England In October 2011 the Department for Business
Information and Skills (BIS) estimated that 1%
of the UK adult population has taken out a
pay day loan A survey by ConsumerFocus found that
1.2 Million people had taken out a pay
day loan and the average amount loaned
is £292 Which pales in comparison to the
£304 Billion lent by Building Societies
from October 2011 to October 2012 The lack of available credit is creating disruption opportunities that - if sustained for another decade - could radically alter the mix of lending sources and main stream lenders The consumer is moving away from the traditional expensive, space consuming and complex product and is looking for low cost, lightweight and simple product The P2P Loans and credit market has the potential
to become a viable alternative to traditional
sources of credit. The high street banks
are taking a hit Leading to an economy that is now
ready embrace New Finance Products Consumers have less credit and have become
more value driven than previously Consumer confidence Rise in E-commerce Decline of Bricks and Mortar Mobile a subtle reality Growth in retail is being spearheaded
by businesses who excel at online
and mobile Summary The consumer is looking for:
Lightweight
Simple
Low Cost solutions

The Economy is trending towards
Alternative Sources of Credit
Online and
Mobile Parliment.co.uk figures
put UK 16-24 Unemployment
at 20.3% or 945,000 Every week there
is a new report
about how X is
the new Oil

This prezi uses a number
of data sources to draw
themes, trends and give
actionable insight for an
FI Audience Lies, damn lies and statistics The Changing Face of Commerce: Online and Mobile E-Commerce is the New Normal Driven by the scale e-commerce
retailers like Amazon and PayPal Leading to the decline of high street businesses
that fail to adapt Success is for Retailers who
differentiate on value and Retailers
who blend offline and online Projections for Growth Browse in store buy online (020) Mobile Commerce is Real and Growing The Digital Wallet Opportunity According to the BBC 73% of all music
and DVD sales are now online An online presence
is not enough
new strategies
have emerged
Full transcript