AIST Young Super Network Lunch n Learn Delve into Disruption
Lee Sammartino,
John Daly,
Lanie Conquest,
Con Zeritas,
Acting Chief Operating Officer, Legal Super
Chief Executive Officer, Listcorp
Head of Sales, Decimal Software
Founder and Managing Director of Industrie IT
CHAIR: Ian Dunbar, CEO of FinDigital and CoFounder of Afiniation, the Finance Technology Network
Delve into Disruption AIST Young Super Network
In 1981 • • • •
IBM’s 5150 PC is released to the market The Internet first mentioned Mobile telephones – still two years away Exxon Mobil the world’s biggest company
• Olivia Newton-John’s ‘let’s get physical’ is number 1
In 2015 • • • • •
128GB RAM Computer 7.4b mobile connections globally Apple world’s largest company - $647b (Dec 31 2014) The ‘Internet of Things’ No 1 Song of last 12 months - Pharrell Williams ‘Happy’
In 2015 • • • • •
128GB RAM Computer 7.4b mobile connections globally Apple world’s largest company - $647b (Dec 31 2014) The ‘Internet of Things’ No 1 Song of last 12 months - Pharrell Williams ‘Happy’
Digital disruption
‘Innovation in an existing market that uses digital tools, methods, and infrastructure to fundamentally alter the delivery of a product or service, undercutting incumbent companies in the process’ James McQuivey (2013)
Digital technologies and data have changed the game, new winners and losers will emerge as the digital revolution redefines conventional norms.
Device shift – mobile first Year 2015 (est). 2014 2011 2010 2000 1975
PC's (millions) 321 302 355 346 134 0.05
Mobile Phones 1,906 1,862 1,520 1,450 400
Tablets 233 216 60
Source, BI Intelligence, Gartner, Statistica
• • •
75% of sales Sociological impact Anytime, anywhere, any device – omnichannel ‘By 2020 there will be 50 billion connected devices globally with mobile the primary internet device for most individuals’ EY, The journey towards greater customer centricity, 2014
Disruption 1: Consumption paradigm
• • •
Customer centricity Price discovery Social communities
Disruption 2: Instant gratification, remove friction • Decision making information must be available immediately • IWWIWWIWI (I want what I want when I want it) – If you can follow up on a enquiry within 5 minutes, you are 9 times more likely to convert the business
Disruption 3: Unbundling and decoupling • Phase 1 - Internet 2.0 – digital unbundling – Google, Amazon, i-Tunes, Expedia
• Phase 2 - Digital decoupling
Source: Thales S. Teixeira, Peter Jamieson, The Decoupling Effect of Digital Disruptors, Harvard Business Review, October 2014
What is FinTech? Financial technology, also known as FinTech, is a line of business based on using software to provide financial services. FinTech companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software. Wikipedia
• • • • • • • • • • • • •
Big data analytics and predictive modelling Mobility Payments Risk management Security Social media and collaboration Infrastructure and operational technologies (hosting, data bases, storage, networking, IT management). Crowdfunding P2P lending Crypto currencies Financial advice Investment administration Accounting and Finance
FinTech activity in our region
Payments Coinjar Fat Zebra Orbit Remit Pay Hero Pin Payments Push Pay Pygg Smart Pay Swipe Tyro Payment
Peer to Peer Thin Cats Harmoney MoneyPlace SocietyOne Lend2Fund
Transaction Mngmt AnalytixWare Avoka EasyDocs Finsuite MacroView Pacinvest Reach SuiteBox The Forms Agency Pepperstone LABGroup Forticode
PFM MoneyBudddy PocketBook Piggy Debt to 10k
Mobile Sandstone EcoView Global Semble
Advice Ccube Decimal PractiFI Midwinter YTML Iress Rubik
Research SimplyWallStreet
Investments Domacom Brickx CrowdFundUP MudFrog Labcorp Simply Wall Street
Product Comparison Deposits flongle HashChing SwitchMyLoan.com
Finance and Accounting BankStatements Cashflower Class Financial Systems Common Ledger Mclowd MYOB Oritax Technology PANALITIX Vistr Xero
Crowdfunding Equitise/Rabble, Pozible Snowball Effect, Venture Crowd
Investment Admin Adminise Apteryx Avaloq (Swiss) Recreo Securitease Sharesight Chelmer Bravura GBST FNZ (UK) SS&C (US)
FX CurrencySpot, OzForex , Pepperstone Crypto BitCoin Group Brave New Coin
Digital Advice and Wealth Finametrica Ignition Wealth InvestSmart Financial Services Mafematica MapMyPlan Movo My Prosperity MyAdvisers Online Data Self Wealth Data Solutions Stockpot Datacom Datawere SuperEd InterSystems BigFuture quantium sirca
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