A bank that launched itself in an online game

We just discovered a nice video about Keytrade:



We find it interesting to post this, because it makes the link between our work and the work of the people working on the gaming industry.

In 2007, Keytrade opened a virtual office in the internet world, Second Life.
The virtual bank office proposed a money converter, converting the "Linden dollar" (Second Life's currency)in real money. The instrument was designed by the Belgian internet-marketing agency Emakina.
Though, the project didn't last long. since there were only 6 to 8000 Belgian gamers on Second Life, the market was quite small. But, Keytrade benefited from the media interest in this project. It was used as a branding tool.

Summary

Just click on the image and it will pop up!

Our class presentation:

This is the presentation we gave today in class.

E-banking - Final project on Prezi

Video about NETTOBANK

This video is only available in German.



For an English translation, please follow the following Link: http://www.privatebankinginnovation.com/en/archives/2010/11/23/dr-stefan-jaeger-ceo-of-nettobank-on-e-private-banking/

Case of Nettobank

Sources:

1. http://www.privatebankinginnovation.com/en/archives/2010/11/23/dr-stefan-jaeger-ceo-of-nettobank-on-e-private-banking/
2. https://www.nettobank.ch/
3. http://de.wikipedia.org/wiki/Nettobank

Interview

Ilya Kazakov, 
SAP FI consultant. 

Topics:
- key trands in e-banking
- IT infrastrusture of banks 5-6 years ago
- changes in last 7 years
- ways of development of banking in terms of IT

MOBILE BANKING

THE ADVANTAGES OF MOBILE BANKING

WHAT BANKS ARE DOING TODAY

· SMS banking is already used today in different manners :

o In parallel with e-banking to verify the identity of a person.

o To send alerts to customers via SMS (ex: when you reach a certain limit).

o Use apps that enable customers to do their daily banking activities anywhere anytime.

· Some banks are developing their own applications for mobile phone (Westpac, BofA …). The usual features are :

o Account alerts and reminders

o Account balance, updates and history

o Branch or ATM location information. This can be used with the GPS and Google maps.

o Bill payment

o Transfers

· It is important to develop a specific app for mobile phone and not simply use a browser to use the online platform because they are not formatted for a small screen. Usability is a key factor of success for these applications.

· Mobile banking offers great opportunities and this why third parties are entering the market. Let's see the example of MoBank.

MOBANK

· It is a free mobile banking service application that allows you to buy cinema tickets, train tickets, fast food delivery, flowers, entertainment …

· The individual only enters the information about his credit/debit card once. This ways, payment is a lot faster and easier. There is a wide range of products available, and it increases every day.

· The revenues come from commissions on each payment made or on subscription.

KeyTrends

Keytrade, founder's empathy map + BM canvas

We use the empathy map to explain how the founders of Keytrade came up with the idea.
This is a short visual representation that summarizes the introduction of the Keytrade case। You discover the point of view of the founders, who had been clients (at a traditional bank) before. We learn how their helped them to identify the need of other people who had similar aspirations.

The Business Model Canvas below summarizes Keytrade's Business Model.
Note that Keytrade Pro is not paying, so we don't talk of a Freemium model.
Keytrade makes its revenues by collecting interest incomes and transaction fees.

Keytrade Blue is the online insurance. They didn't offer this initially, but we put it on the BM to show how they expanded their activities from a pure eBrokerage company, to a real eBank offering online banking, brokerage and insurance services.

E-Banking Video

Here is our video about e-banking. A making of will follow!

E-Banking Revenues

For the analysis of Credit Suisse's income, there are two
main types of income:

transaction costs: Customers have the option of investing
their money in all sorts of financial instruments. A
platform on the internet exists and each client makes its
investments as it wishes. The bank is compensated by
charging a commission on each transaction.

management fees: the bank has a personal relationship with
its customers. She advises them to manage their assets
(money management), management of portfolio risks or
consulting.

In conclusion, Credit Suisse has two very different sources
of income: commissions on transactions which are based on
the amount and management fees which are based on the
quality. Margins offered by the management fee is of course
higher.

CREDIT SUISSE BUSINESS MODEL

CREDIT SUISSE BUSINESS MODEL

Here is the business model of Credit Suisse, focusing on their e-banking part.

To answer those questions, we took the Swiss bank Crédit Suisse and mainly focus on the e-banking offer of Crédit Suisse.

The main job to be done is to give an easy access for customers to their accounts. They want to manage easily their accounts and quickly execute some transactions. And that why banks develop e-banking and home banking platforms/software.

In addition to this platform, Crédit Suisse try to go further by offering SMS banking, the Crédit Suisse mobile finance, iPhone/iPad app, etc. This is to stray as close to customers as possible. Crédit Suisse tries to build a good relationship with their clients to keep them and not let them go to the competition.

 GROUPS CLOSER:


1. Job to get done:

 ____________________________________

2. Help to get the job done:

 ____________________________________

3. Value proposition

  ____________________________________

3. Why customers come to us?

E-banking, Environmental analysis

Our group is analyzing the changes in the e-banking industry due to new technologies. We have narrowed our research to swiss market. Here, we will analyze the environment and the effect it can have on the existing business models in today's industry.

1. Market Trends

More financial services are offered through the internet to all target segments : individuals and companies. But as a consequence to the financial crisis, some people have lost their trust towards banks. People now expect more transparency and morality from them. Another key issue concerning e- banking is the security of the data and the transactions done through the internet.

________________________________________

2. Industry Forces

The industry is characterized by a group of large banks. The largest are UBS and Credit Suisse. They have all developed an online platform that enables users to have access to their accounts through internet to perform some simple transactions. A new model is appearing in the e-banking industry, the internet-only banks. Even though they don't offer exactly the same services as a traditional bank, these types of banks are developing and taking importance in the industry (ex : Swissquote).

________________________________________ 

3. Macroeconomics

Crisis 2008 made a huge impact on banking. Clients' trust was lost, and socio-political environment is no longer friendly for that industry. However,  having no substitutes, banking still plays big role in peoples lives. Moreover, there is an opportunity to find talented people that due to crises lost their jobs, and thus enforce management team.

________________________________________  

4.  Key Trends

Nowadays, people expect a lot from their banks in regards to internet. All customers want and need to access to their account quickly, easily, in a convenient way and in a secure manner. This is why banks need to make sure that their customers can have access to their e-banking platforms through all the new mobile devices that exist such as iPhones, mobiles phones etc. They also need to provide live financial information.

 ________________________________________ 

References:
http://www.swissworld.org/fr/economie/secteurs_cles/banques/
http://www.swissquote.ch/index/index_group_e.html

Environmental analysis

Microsoft Office, Environmental analysis

 1. Industry forces

2. Key Trends

3. Macroeconomic Forces

4. Market Forces

Findings:

Until now, functionality has been the most important element, though things start changing and we see that the focus is now on convenience, ergonomics and a nice interface. There hasn’t been any significant technological evolutions. They worked hard on the interface and the design, but the functions that MS office offers do not differ that much of what they offered 5 to 10 years ago.

Illegal downloading, as well in Europe or in the US as in emerging countries such as China and India, is an important issue for Microsoft. The second big issue is that governments tend to pay more attention to software companies because of anti-trust issues.

If Microsoft manages to tackle the issue of illegal downloading in these emerging countries, they would be able to benefit from this huge market potential.We identified four main technology trends; open source software, cloud computing, portability and security. Open source (freeware) can be a threat in the long-run, but nowadays the open-source software lack power, security and ergonomics. Both cloud computing and portability are opportunities for Microsoft, because it is one of the key trends for the future.

MS Office doesn’t have any real substitutes, but few competitors who offers slightly the same solution. E.g, OpenOffice, iWork for Mac,.. Another group of competitors are the on-line editors, such as Google Docs.

First try

Today we are starting the blog, which will show our group work on duration of 14 weeks.

For now there are group of 5 enthusiastic people:

Zoya Alybina

Philippe de Smit

Gregory Dethier

Elsa Zerbib

Cedric Grize
 

The topic chosen is developing of banking sphere with a help of IT.
Here is the short report of our group work today

 _______________

THE GROUPS:

______________

1. Social Networking

2. Personal organizing

3. Entertainment

4. Corporate website