NTT DATA FinTech meetup - AI and Experience design
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Tom Winstanley, Vice President of NTT DATA UK, presented on the intersection of AI and experience design in financial services. He hypothesized that digital-only financial products providing outstanding customer experiences through fully automated AI back-office systems could be the "holy grail" for fintech companies. However, participants at an NTT DATA meetup argued against this, noting that financial services are complex and challengers must have laser-focused value propositions beyond just experience and AI in order to succeed. Winstanley concluded that while experience and AI are important, the future of fintech remains unwritten.
NTT DATA FinTech meetup - AI and Experience design
- 1. Information Type : Company Name : Information Owner : The Intersection of AI and Experience Design 07 November 2019 Tom Winstanley, Vice president – NTT DATA UK Proposal NTT DATA UK James Deakin The Holy Grail of the Financial Services Industry?
- 2. © 2019 NTT DATA. All Rights Reserved. 2 What am I going to talk about? Who are we? The hypothesis The case for The case against The verdict Discussion
- 3. © 2019 NTT DATA. All Rights Reserved. 3 Who are we?
- 4. 4 Tom Winstanley Vice president, Innovation & Advisory NTT DATA UK @twinstan https://uk.nttdata.com/
- 5. 5 Global innovator R&D Consulting Systems development Business and IT outsourcing Ltd
- 6. 6,000 R&D Professionals $2.1b Annual R&D Investment 25 global R&D centres -Thomson Reuters TOP100 Global Innovators Innovation is in our DNA MoMA exhibition of Emoji (original set of 176). Shigetaka Kurita, NTT DOCOMO. 1998–99
- 7. 7 The Group is built on deep expertise and heritage in ICT R&D…
- 8. …but our innovation agenda stretches well beyond… 8
- 9. 9 …and it sometimes pops up in unexpected places…
- 10. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level 10
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- 12. • Click to edit Master text styles • Second level • Third level • Fourth level • Fifth level
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- 15. © 2019 NTT DATA. All Rights Reserved. 15 The hypothesis…
- 16. THE HYPOTHESIS: Digital only financial service products providing genuinely outstanding offers through a fully automated backoffice using AI are the holy grail of FinTech space 16
- 17. © 2019 NTT DATA. All Rights Reserved. 17 The case for…
- 18. Consumer expectations in B2C and B2B are exploding and driving massive innovation in the design of services… 18 Quality digital experience and brand seem to be winning in the race for customers in an Open Banking era. Challenger banks are laser focused on the slick branded experience and incumbents are investing $ms into experience transformation programmes and service simplification
- 19. Applications of AI are having beginning material impact on leading FinTech’s and traditional bank’s business 19 Source: Gartner, 2019
- 20. © 2019 NTT DATA. All Rights Reserved. 20 The case against…
- 21. There is a lot more going on in FinTech than “just” great experience.. 21 https://www.kitces.com/ January 2019
- 22. ..the analysts are bullish about a good deal more than just experience and AI 22 The complexity of the financial services space means that challengers have to find a laser focused value proposition that fulfills a targeted need in order to succeed…. That might be AI driven customer experience… but it could be something more radical and fundamental Source: Gartner 2019
- 23. …and there might even be something more fundamental afoot 23
- 24. © 2019 NTT DATA. All Rights Reserved. 24 The verdict?
- 25. Reponses by participants at NTT FinTech & AI meetup London November 2019 25 0 5 10 15 20 25 30 For the hypothesis Against the hypothesis
- 27. © 2019 NTT DATA. All Rights Reserved. 27 The future is ours to make… ...with a little imagination
- 28. NTT DATA Open Innovation programme in collaboration with: London – Level39 – 13th December Edinburg – The Data Labs – 2nd December https://uk.nttdata.com/openinnovationcontest 28