Decoupling of Product creation from Sales: Modularization in the Financial Services Industry

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Dec 26th, 2014

There is no need to quote Darwin on evolutionary theory: only those that adapt will survive. Responsiveness to change — not the ability to avoid it — should foster an ability to leverage change. In this post, as a strategic implication for financial institutions and technology vendors, we discuss for the modularization in the financial services industry.

For some time, Celent has advocated that players in the financial services industry seek the full use and application of technology such as modularization, decoupling, and packages, and use these deftly in business functions, business processes, loosely coupled IT systems, standardization of procedures and interfaces, and international division of labor via horizontal deployment. In terms of financial instruments, investment trusts and life insurance products are the areas in which the decoupling of product creation and sales has advanced the most. These are also two major products sold via the banking channel.

 

The case of investment trusts
In the case of investment trusts, the process comprises two parts: the selection of the investment target (portfolio establishment) and the sales of the investment trust. The first of these involves the design or building (creation) of the product (portfolio); the latter refers to the sales of the investment trust security (shares and investment trust beneficiary certificates). Sellers of the product handle related paperwork, such as generating and processing customer transaction reports.

Until the 1960s, during the closed model era of securities firms and asset management firms, the norm was for asset management companies to entrust sales to external securities firms (full service brokers). A closed relationship with an established fixed commission structure (investment trust commission fee [paid by the customer to the securities firm] and a securities transaction fee [paid from the asset management firm to the securities firm]) existed for a prolonged period of time under which asset management companies and brokers entrusted transactions to each other to their mutual benefit. Subsequently, advances in the diversification in sales models were made.

In the 1970s, direct sales no-load funds emerged. There were a number of factors underpinning this: the liberalization of securities trading commissions, sluggish demand in the securities market, and the emergence of no-frills discount brokers that offered investors no advice. However, this entailed only a diversification of sales; no advancement in diversification of product design, creation, and sales emerged as a closed-model system remained in place.

Ultimately, innovation occurred in the form of what was tantamount to an investment trust supermarket. In 1992, the broker Charles Schwab launched its Schwab One source (product). Under this customers could purchase from a list of several investment trusts without paying any fees; the flip side was that Schwab collected an annual management fee based on the asset balance entrusted by investment trust firms. This was a system under which the investment trusts were put on display — like items on shelves in a supermarket — to be selected by customers, and “stores” paid a commission solely on items sold — , that is to say, the amount transacted. This opened up the interface between asset management companies and securities firms, spurring the modularization — or separation — of product creation and product sales.

 

The case of life insurance products
The case of Japan’s life insurers differs slightly. For a protracted period of time, the wellspring of their competitiveness was their own sales capacity, which might make the transformation seen in the investment trust business model described above a bit of a rough fit. However, against the background of decoupling of product creation from sales seen in the West, there have been cases of global firms with a long history in Japan genuinely transitioning assembler-type models (business model seen in manufacturing industry which builds up a module that parts makers offer on the premise of open architecture and provides completed products). These companies accomplish this through the integration of the operations of subsidiaries by sector (life, nonlife), finding a balance between indirect agent sales and direct online sales, and sharing back office functions (shared service). In tandem with this, there should also be an increase in insurers that are proactively seeking to supply components (financial products dedicated for these assemblers).

  • Bank Sales Channels
    Insurers will continue to have high expectations for bank sales channels. Insurer premium growth is largely dependent upon growth in the sale of savings-related products such as payment in lump sum whole life insurance. This is particularly important when it comes to the life insurance business.
    At the same time, viewed from the perspective of banks, off-balance sheet bank sales of insurance products by cross-selling is attractive as a new fee-generating business.
    For insurers, the bank sales channel can be regarded as a new business under which insurers develop partnerships with banks on a nearly equal footing. Insurance carriers develop the insurance products and operate the company while agents or producers (firms selling insurance) sell the products. Moving ahead, new partnerships are expected to arise based upon the increasing diversity of sales channels.
  • Brick-and-mortar shops
    Brick-and-mortar shops are increasing rapidly as a new business format for insurance agents.
    In particular, growth has been very visible in recent years as the number of such shops surged from around 200 in 2009 to approach 1,000 shops in 2013 for a compound annual growth rate of over 30%. With these shops frequently located in large facilities with high volumes of customer traffic and in busy roadside areas, the operators of these shops are competing for customers with other retailers and financial institutions such as banks.
    Insurance aggregators conduct contracts for multiple insurers, embodying an approach that strays from the conventional approach of working from selling a set menu of products; instead, they stress “life plans” and focus on demand from customers switching from other plans, offering one-stop shopping for both life insurance and nonlife insurance. In short, these companies have changed sales from the conventional process of offering what is akin to off-the-shelf insurance products, shifting to a neutral, consulting-based sales approach that proposes the optimal “coverage” services or offerings from various insurers.
    Currently, three types of insurance aggregators— shops that conclude sales contracts for insurers and handle the products of multiple insurers— exist in Japan. Today insurance aggregators account for approximately 5% of insurance sales, but Celent sees the share held by the insurance aggregator segment— (including bank channels and an array of sales channels— ) increasing and forecasts growth to the tune of 30% CAGR over the next three years.

 

In the insurance industry of Japan, for the trends and initiatives of modularization of the financial services industry, we recommend the Celent report below.

  • Insurance Industry Trends in Japan, Part 2: New Sales Channels — Challenges and Solutions

    http://www.celent.com/reports/insurance-industry-trends-japan-part-2-new-sales-channels-challenges-and-solutions

  • The Evolution of Insurance Aggregators in Japan: A New Era in Choice

    http://www.celent.com/reports/evolution-insurance-aggregators-japan-new-era-choice

製販分離:金融サービス業のモジュール化

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Dec 26th, 2014

ダーウィンの進化論を引用するまでもなく、変化したものだけが生き残れる。変化への対応力は、変化を回避するのではなく、変化を活用することから養われるはずだ。そして、その変化は正に、イノベーションの機会である。本稿では、金融機関と金融機関向けのITサービスベンダーに対する戦略示唆として、金融サービス業のモジュール化について論述する。

セレントはかねてより、金融サービス業における、製販分離とモジュール化の有効性を主張してきた。製販分離とは、すなわち、金融商品の製造と販売の分離を指し、そこでは、「モジュール化」「アンバンドリング」「パッケージャ」などの技術経営の適用と、それらの手法を駆使した、業務機能、業務プロセス、IT システムの疎結合化、インターフェースと手順の標準化、その水平展開による国際分業などの有効性などが提唱される。金融商品において、生命保険と投資信託の2つは、最も製販分離が進んだ商品である。そして、これらは銀行チャネルで販売される2大商品である。

 

投資信託のビジネスモデル
投資信託のビジネスモデルは、①投資先の選択(ポートフォリオの構築)、②出来上がった投信の販売、の2つのプロセスに分かれ、①は商品(ポートフォリオ)設計及び製造(生産)にあたり、②は投資会社の株式(投資信託の受益証券)のセールスであり、販売業者が顧客取引報告などの事務処理を行う。

証券会社と投信会社のクローズド・モデルの時代、1960 年代までは、投信会社から外部の証券会社(フルサービス・ブローカー)への委託販売が主流であった。固定的な手数料体系(投信販売手数料(顧客から証券会社へ支払われる)と株式売買手数料(投信会社会社から証券会社へ支払われる))と、投信会社と証券会社の間の互恵的な委託販売関係から、長らくクローズドな関係が構築されてきた。その後、販売形態の多様化が進展した。

1970 年代以降、ノーロード・ファンド(販売手数料ゼロ)の直接販売事業者が出現した。その背景には、①株式売買手数料自由化、②株式市場の需要不振、③アドバイス無しのディスカウントブローカの台頭があるが、この時代は、販売の多様化のみで、設計、製造、販売を兼業するクローズド・モデルに変化は無かった。

最後に、投信スーパーマーケットによる革新が起きた。チャールズ・シュワブが1992 年に販売を開始したシュワブ・ワンソースでは、リストアップされた複数の投信を購入する限り、顧客には全く手数料がかからず、代わりに、シュワブは投信会社から、預かり資産残高に応じた年間の管理手数料を徴収した。投信をスーパー店頭の棚に載せ、売れた分だけの手数料を取る方式であった。投信会社と証券会社のインターフェースがオープン化され、製造と販売がモジュラー化し、分離した。

 

生命保険のビジネスモデル
日本の生命保険会社の場合、自社の販売力をその競争力の源泉とした時代が長く、投資信託のビジネスモデルの変遷が、そのままあてはまるとは考え難いかもしれない。しかし、日本での事業経験の長い、グローバル保険会社の中には、欧米での製販分離型の保険ビジネスモデルを背景に、生命保険、損害保険の業態毎の子会社の統合、代理店間接販売とネット直接販売の統合と分離、バックオフィスの広域地域での共有(シェアードサービス化)などを通じて、本格的なアセンブラー型モデル(製造業における、オープンアーキテクチャを前提とした部品メーカーの提供するモジュールを組み立て、完成品を提供する事業形態)への移行に取り組むケースも散見される。また、その逆に、こうしたアセンブラーに対して、積極的に部品である金融商品の提供に特化する保険会社も増加しよう。

  • 銀行窓販
    既に、銀行窓販は、保険会社にとって、今後とも期待される有力販売チャネルであることに相違ない。保険会社の保険料等収入の増加は、銀行チャネルにおける一時払い終身保険などの貯蓄性商品の伸びに大きく依存し、特に、生命保険ビジネスにおいてその重要性は高い。
    一方、銀行から見ても、保険商品の窓口販売はオフバランスでのクロスセリングによる、新たなフィービジネスとして魅力的である。
    銀行窓販は保険会社にとって、保険キャリア(保険商品の開発・運用会社)と保険エージェント若しくはプロデューサー(保険商品の販売会社)が、ほぼ対等な立場でパートナーシップを組む、新たな形態のビジネスとも言える。今後多様化した販売チャネルのもとでの、新たなパートナーシップの発展が期待される。
  • 保険ショップ
    また、来店型保険ショップは、新たな代理店の業態として、急激な成長を遂げている。特に、その店舗数の拡大は、2009年には各社合計で200店舗程度であったが、2013年には1,000店舗に迫り、年平均成長率で30%を上回る成長である。大型の流通施設や繁華街の路面店など、他の流通事業者、銀行をはじめとした金融機関に伍して、来店客確保のため店舗数を競っている。
    乗合代理店では、複数の保険会社と代理店契約をし、「まず保険商品ありき」から、「ライフプラン」と「乗り換え需要」への対応を重視し、生命保険、損害保険のワンストップ提案を実現している。従来の保険商品の「販売」から、保険会社各社の提供する「保障」サービスの提案へとシフトし、公平中立なコンサルティングを売り物にする。
    日本の乗合代理店(複数の保険会社と取引のある代理店)は、現在、来店型、訪問型、ネット型の3類型が存在する。現状、乗合代理店全体での販売シェアは5%程度とみられるが、銀行窓販をはじめ、様々な販売形態で展開される乗合代理店のシェアは今後とも上昇が見込まれ、セレントは今後3年間の年平均成長率で30%以上の成長を予測する。

 

日本の保険業界における、製販分離:金融サービス業のモジュール化の動向と取り組みについては、下記のセレントレポートを推奨する。

  • 日本の保険業界の動向パート2:新時代の販売チャネルにおける課題と対処策

    http://www.celent.com/ja/reports/32419

  • 日本における乗合保険代理店:勧められるから比較する時代へ

    http://www.celent.com/ja/%252Fnode/32233

 

Abenomics: The Fourth Arrow of Innovation and Globalization

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Dec 12th, 2014

JAPAN BACK ON TO THE WORLD’S RADAR

The Bank of Japan surprised markets with further monetary easing on October 31, 2014. Befitting Halloween, the BOJ had market watchers on the edge of their seats when the policy committee meeting dragged past noon, finally concluding at 1:44 p.m. Three minutes later, the results sent the Nikkei Average soaring 400 yen. The buying continued with the Nikkei closing up 755 yen at a seven-year high of 16,413. This Halloween treat rippled overseas to major bourses in Asia. Later that evening, the Dow Jones Industrial average followed suit, riding the announcement to a new high. Meanwhile, in the forex market, the yen hit a near seven-year low of more than 112 yen to the dollar. In short, this news focused the attention of market players on Japan’s market and Abenomics.

 

ABENOMICS NOW: ABE’S LETTER TO THE WALL STREET JOURNAL

With the reshuffling of his Cabinet on September 3, Prime Minister Shinzo Abe launched the second stage of his administration. This offered a chance to appraise his core economic policy of Abenomics.

It was only a year ago that he visited the New York Stock Exchange and asked investors to “Buy my Abenomics[1].” He put in a repeat performance on December 30 at the Tokyo Stock Exchange’s final trading session of 2013, exhorting investors to, “Buy my Abenomics next year too[2].” Today Abenomics has become synonymous with Japan’s economy and monetary policy.

In his September 18 article to the Wall Street Journal[3], Abe gave the below points as integral to the second stage of his plan.

  • Reducing the effective corporate tax: A 2.4% reduction this year, further cuts next year, and an effective tax rate target of under 30%.
  • Enhanced corporate governance: Today 74% of companies listed on the First Section of the Tokyo Stock Exchange have an outside director, up 12% in the past year.
  • New entrants in underdeveloped industrial fields: Encouraging new entrants in fields that have had relatively few—namely the electricity business and healthcare services. The number of firms in the electricity market surged nearly 60% from 38 to 59 in one year.
  • Relaxation of visa requirements: The number of foreigners visiting Japan last year topped 10 million for the first time with a 25% year-on-year increase so far in 2014.
  • Making agriculture a growth sector: Establishing regional “farmland banks” to promote farmland consolidation and large-scale farming. Plans to reform traditional agricultural associations to strengthen the competitiveness of Japan’s farmers.
  • Deregulation: Using National Strategic Special Zones to expand areas where regulatory reforms will be implemented to support new businesses, including non-Japanese startups, to create a welcoming environment for talented entrepreneurs, their employees, and home-support workers from overseas. Since mid-July, more than 200 proposals for regulatory reform have been put before the Diet.

Soon after the launch of the second Abe administration, the first and second so-called Abenomics arrows of monetary and fiscal policy left the quiver. The third arrow of growth strategy structural reforms and the fourth arrow—which has garnered great attention both in Japan and overseas—are taking longer to prove effective. The market has high expectations that more action will follow on the heels of these arrows, action including efforts to accelerate deregulation, innovation, and globalization.

 

ABENOMICS: A RECAP AND GROWTH STRATEGY CHALLENGES

In his first press briefing as prime minister in December 2012, Abe told the media that his administration’s mission was to put the economy back on firm footing. He pledged to pull out all fiscal and monetary stops to revive the economy. Indeed, Abe dubbed his C abinet the “crisis-busting Cabinet” and promised to pour his all into three areas: revitalizing the economy, rebuilding from the Great East Japan Earthquake, and crisis management. To get the economy in gear, Abe stressed his so-called three-arrow economic scheme, designed to revive the economy through bold monetary policy, flexible fiscal policy, and a growth strategy. Two years on, today is an opportune time to take stock of his results.

 

Table 1: Abenomics: Policy Measures Over Time

FIG1_141211_E

Source: Celent analysis

 

The first arrow brought a new dimension of monetary easing to an economy struggling to shrug off decades of deflation. Nevertheless, today the likelihood of reaching the 2015 core consumer price rise target of 2% remains highly uncertain. Observers expect ongoing monetary easing based on how inflation data plays out, as well as deregulation and innovation policies.

The second arrow of fiscal stimulus can—through two supplementary budgets—be regarded as contributing to bolstering the economy and easing the consumption tax hike impact. Having said that, stimulus measures have relied on conventional public works projects.

As for the third arrow’s growth strategy, the revised Japan Revitalization Strategy addresses corporate tax cuts and regulatory reform in employment, healthcare, and agriculture; yet, it lacks anything appreciably novel in new fields such as energy or in terms of innovation-promoting policies and global strategy.

In a letter to the Financial Times[4] on June 30, 2014, Abe offer the following points in touting his third arrow and growth strategy.

  • On the promises associated with his third arrow: Structural reform has shifted into high gear entailing the following: reducing corporate tax, enhancing corporate governance, requiring companies to appoint outside directors, adopting a Japanese stewardship code, and reform of the Government Pension Investment Fund.
  • Dispelling concerns related to the consumption tax hike: Any negative impact is seen as short-lived. The situation differs from 1997 due to a better employment market, rising wages, and growing imports.
  • Sustaining economic growth amidst an aging and shrinking population: Since starting to promote “womenomics,” we have seen 530,000 women enter the labor market and large companies have pledged to appoint at least one woman executive. Diversity is the operative word and inflexible labor systems will be reviewed and improved to empower women, the young, the elderly, and those with special talents.

The market has regarded these policies with a degree of approval. Market expectations were buoyed by the May 2014 new growth strategy—a revised version of the Japan Revitalization Strategy. Japanese stocks jumped, revisiting the 15,000-yen level. This came following a rebound sell-off by foreign investors disillusioned by the growth strategy (Japan Revitalization Strategy) in the second half of 2013. Investors rang in 2014 with more selling, but the new growth strategy triggered a buy-back. The market has maintained a level of expectations for Abenomics, However, 2015 will be a year of milestones for assessing the success (or lack thereof) of Abenomics. These include the second consumption tax hike, from 8% to 10%, slated for October (although it now appears highly likely this will be postponed), the 2% inflation target and fiscal consolidation.

 

Figure 1: NIKKEI 225

FIG2_141212_E

Source: NIKKEI, JPX, Celent

 

Figure 2: Foreigners Trading Value of TSE 1st Section Stocks

FIG3_141212_E

Source: NIKKEI, JPX, Celent

 

FUTURE EXPECTATIONS FOR ABENOMICS: THE FOURTH ARROW OF INNOVATION AND GLOBALIZATION

Japan’s government announced in June 2013 the revitalization strategy to spur growth. The firing of arrows one and two restored corporate and citizen confidence. To transform expectations into reality, three action plans were formulated: the Industry Revitalization Plan, the Strategic Market Creation Plan, and the Strategy of Global Outreach. The global outreach agenda is designed to boost Japan’s share of the pie in international markets.

In June 2014, the revamped version of the revitalization strategy further spelled out 10 policies to address high-priority challenges. To restore Japan’s “earning power,” Abe called for enhanced corporate governance, a review of public funds management, and promotion of venture business as well as an overhaul of corporate tax reform and promotion of innovation. In addition, as an engine to drive this reform and new growth, he called for employment reform to harness the talents of women and foreigners, and renewed efforts to make healthcare as well agriculture, forestry, and fisheries industries that support regional communities. This growth strategy is noteworthy for its emphasis on private business shouldering the growth.

 

Figure 3: Japan Revitalisation Strategy – Three action plans (June 2013)

FIG4_141212_E

Source: “Japan Revitalisation Strategy-Japan is Back-“ http://www.kantei.go.jp

 

Figure 4: Japan Revitalisation Strategy – Strategy of Global Outreach (June 2013)

FIG5_141212_E

Source: “Japan Revitalisation Strategy-Japan is Back-“ http://www.kantei.go.jp

 

Figure 5: Japan Revitalisation Strategy – Revamped Version (June 2014)

FIG6_141212_E

Source: “Revision of Japan Revitalization Strategy”, http://www.kantei.go.jp/jp/singi/keizaisaisei/pdf/10challenge02shousaiEN.pdf

 

Market attention and expectations are now focused on Abe’s fourth arrow. Initially Abe’s fourth arrow was fiscal reconstruction accompanied by consumption tax hikes. This is changing as elements such as the hosting of the Tokyo Olympics in 2020 are added to the mix. Still, market players are unified in their opinion that both additional stimulus measures and sustainable structural reform are needed.

 

Celent is convinced that innovation and globalization are economic growth drivers. Today in the financial arena there are two types of globalization afoot: one is expanding business overseas, the other globalizing the domestic market. The former will entail the public and private sector working together in emerging markets with a focus on Asia to support M&A activities and overseas production in line with the development of the local financial business. The latter will hinge on the globalization of financial markets and the development of both corporate and retail global financial services—both fueled by emerging technologies such as digitalization. Celent hopes that Abenomics fourth arrow is aimed at innovation and globalization and that the arrow flies true.

 

Figure 6: Three Themes Driving Financial Technology

FIG7_141212_E

Source: Celent

 

 

[1] Address by H.E. Mr. Shinzo Abe, Prime Minister of Japan, at the New York Stock Exchange, September 25, 2013, http://japan.kantei.go.jp/96_abe/statement/201309/25nyse_e.html

[2] Address at the Tokyo Stock Exchange, December 30, 2013, http://sankei.jp.msn.com/economy/news/131230/fnc13123016480005-n1.htm

[3] The Next Stage of Abenomics Is Coming, WSJ, September 18 2014, http://online.wsj.com/articles/shinzo-abe-the-next-stage-of-abenomics-is-coming-1411080939

[4] My ‘third arrow’ will fell Japan’s economic demons, FT, June 30, 2014, http://www.mofa.go.jp/p_pd/ip/page4e_000101.html

 

 

アベノミクスの挑戦:第4の矢はイノベーションとグローバリゼーション

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Dec 12th, 2014

「ジャパン・パッシング」(日本素通り)から、一夜にして、「Japan Back on to the World’s Radar = 世界の市場の目は日本に注がれる」へ

2014年10月31日、日本銀行は正に、市場の不意をついて、追加金融緩和を実施した。伝わったのは午後1時44分ごろ。普段ならば12時頃には発表される政策決定会合の結果に、市場参加者が気をもんだタイミングだった。日経平均株価はわずか3分で約400円高と急騰。その後も買いが続き、前日比755円高の1万6413円と約7年ぶりの高値をつけた。サプライズは瞬く間に海外に波及した。香港、シンガポールなどアジアの主要株式相場は軒並み上昇。日本時間夜になり米国市場ではダウ工業株30種平均が最高値を更新した。外国為替市場では円が一時1ドル=112円台と、6年10カ月ぶりの円安水準をつけた。この日の相場は、このニュースが世界を牽引した。市場関係者の多くは、その眼差しを日本市場とアベノミクスの行方に向けた。

 

アベノミクスの今:安倍首相のWSJ寄稿から

2014年9月3日、第2次安倍改造内閣が発足した。安倍政権は、2012年12月の発足以来、第二ステージに入った。現政権の掲げる経済政策「アベノミクス」は、様々な評価と批判、そして期待を招いた。首相自身も、2013年9月26日ニューヨーク証券取引所での講演において、「Buy my Abenomics(アベノミクスは『買い』)」[1]と述べ、また、同年12月30日の東京証券取引所大納会でも、「来年もアベノミクスは買い」[2]と発言し、現在、日本の経済・金融政策の代名詞となっている。

2014年9月18日、WSJへの寄稿[3]のなかで、首相は「第二ステージ」への取り組みについて、以下の項目で述べている。

  • 法人税の実効税率の引き下げ:今年度4%引き下げ、来年度さらに引き下げる予定。最終的には数年で20%台を目指す。
  • コーポレートガバナンス(企業統治)の強化:東証1部上場企業の74%が社外取締役を任命しており、その割合は過去1年で12%増。
  • 新規参入企業がなかった産業分野の開拓:電力と健康医療サービス分野について、新規参入を促す。電力市場はわずか1年で38社から59社へと6倍成長。
  • ビザ発給要件の緩和:訪日客は昨年初めて1000万人を突破、今年は現在までで既に25%増と、昨年の見事な増加率を上回る。
  • 農業を成長セクターへと転換する施策:農地の集約と大規模化を目的とした都道府県ごとの「農地バンク」の設置。日本の農家の競争力強化に向け、伝統的な農業団体(農協)を改革。
  • 規制緩和への取り組み:「国家戦略特別区域」において、規制改革を実施する地域を拡大、7月半ば以降、200を超える規制改革案を国会へ提出。特区では、有能な起業家やその従業員、外国人ホームヘルパーにとって快適な環境作りを目指し、日本人以外の起業を含む新事業を支援。

第2次安倍政権の発足後、アベノミクスの第1、第2の「矢」である「金融・財政政策」は速やかに放たれた。一方、第3の矢「成長戦略」と、国内外から注目を集める「第4の矢」は、その実効を上げるまでに、かなりの時間を要している。3本や4本どころか、規制緩和、イノベーション、グローバリゼーションを加速する様々な施策が、矢継早に放たれることが、市場の期待である。

 

アベノミクス、これまでの総括:成長戦略に課題

2012年12月、安倍首相は、就任後初の記者会見で「政権に課せられた使命は、まず強い経済を取り戻すことだ」と述べ、財政・金融政策を総動員して景気回復をめざす考えを表明した。首相は、当時の内閣を「危機突破内閣」と命名した。経済再生と東日本大震災からの復興、危機管理の3点に全力で取り組むことを明言した。経済再生にあたっては「大胆な金融政策、機動的な財政政策、成長戦略の三本の矢で力強く経済政策を進める」と強調した。以下、本稿執筆中の2014年11月までの2年間、主に経済再生の観点から、政策推移を総括する。

 

表 1: アベノミクス、これまでの政策推移

FIG1_141211

出典: セレント分析

 

第1の矢「金融政策」について、異次元金融緩和政策は奏功し、デフレから着実に脱却しつつある状況といえる。一方で、2015年度の物価目標2%には不透明感が濃厚で、物価動向をモニタリングした金融緩和策の継続と、規制緩和、イノベーション政策が期待される。

第2の矢「財政政策」についても、2度にわたる補正予算は、景気の底上げや消費税増税の影響緩和に寄与したといえる。一方で、具体的な財政政策は、これまでの従来型の公共事業に依存した対策に終始している。

第3の矢「成長戦略」については、「日本再興戦略」の改訂版において、法人税減税、雇用、医療、農業の各産業分野における規制改革に踏み込むものの、エネルギーなどの新分野、イノベーション政策、グローバル戦略などの分野での目新しさに欠ける。

「成長戦略」について、首相自ら、2014年6月30日付フィナンシャル・タイムズ紙への寄稿[4]において、以下の項目で述べている。

  • 第3の矢に関する約束への回答:法人税率引下げ、コーポレートガバナンスの強化、社外取締役任命に関する説明規則制定、日本版スチュワードシップ・コードの受入、年金積立金管理運用独立行政法人の改革など、日本の構造改革は、そのギアをハイギアにシフトし推進することを明言。
  • 消費税増税への懸念の払拭:消費の落ち込みは一時的なもの、前回引上げ時の1997年当時との違いを強調、雇用市場の改善、賃金の上昇、輸入の拡大は、増税への懸念を払拭すると、日本経済の回復状況に言及。
  • 高齢化社会と低下する出生率の中での持続可能性:「ウィメノミクス」(女性活用)の旗印の下、53万人の女性が労働市場に参入、大企業は、少なくとも1人の女性を役員として任命するルールなどの成果を強調。キーワードを多様性とし、女性、若者、高齢労働者や特別な能力を有する人々などなど、柔軟性を欠く労働制度の改革を例示。

こうした政策推移に対して、市場の評価は一定の水準を維持している。2014年5月以降、新成長戦略(「日本再興戦略」の改訂版)への期待高揚から、日本株は上昇基調に転じて、15,000円台を回復。2013年後半は、戻り高値局面において発表された成長戦略(「日本再興戦略」)への失望感から、海外投資家の売り相場を招いた。2014年は、年初来の高値段階から海外投資家の大幅な売り越しが続いていたが、新成長戦略の発表は、買戻しの契機となった。これまでのところ、市場はアベノミクスの政策に、一定の期待を維持して推移している。2015年は、当初予定された2度目の消費税引上げ(当初2015年10月予定、その後18か月の延期が表明された)、インフレ率2%達成と財政健全化の目標年となり、当面のアベノミクス成果が問われるマイルストン年次となる。

そして、2014年11月21日、首相は「アベノミクスの是非を問う」と自ら宣言し、衆議院を解散した。12月の選挙を通じて、市場のみならず選挙民は、その政策への信任を明確にする。

 

図  1: 日経平均株価(NIKKEI 225)の推移

FIG2_141212

出典: NIKKEI, JPX, Celent

 

図 2: 海外投資家の日本株売買推移

FIG3_141212

出典: NIKKEI, JPX, Celent

 

アベノミクス、今後の期待:第4の矢はイノベーションとグローバリゼーション

2013年6月、日本政府の成長戦略は「日本再興戦略」として発表された。第1、第2の矢を受け、企業や国民の自信を回復し、「期待」を「行動」へ変えるための具体的な取組みとして、「日本産業再興プラン」、「戦略市場創造プラン」、「国際展開戦略」の3つのアクションプランを掲げている。中でも、「国際展開戦略」においては、拡大する国際市場の獲得を、政策目標として明示した。

更に、2014年6月、その改訂版の中で、重点課題に対する10の政策焦点が明示された。日本の「稼ぐ力」を取り戻す政策として、コーポレートガバナンスの強化、公的資金運用見直し、産業新陳代謝の促進を掲げ、法人税改革、イノベーション推進も盛り込む。また、革新の担い手と新たな成長エンジンとして、女性活用、外国人材活用などの雇用改革、地域産業再興策としての医療、農林水産業への注力を表明している。成長戦略の担い手として、民間事業者の役割を重視した点も、特徴点といえよう。

 

図 3: 日本再興戦略 3つのアクションプラン(2013年6月)

FIG4_141212

出典: 「日本再興戦略-JAPAN is BACK-」 http://www.kantei.go.jp/jp/headline/seicho_senryaku2013.html

 

図 4: 日本再興戦略 国際展開戦略(2013年6月)

FIG5_141212

出典: 「日本再興戦略-JAPAN is BACK-」 http://www.kantei.go.jp/jp/headline/seicho_senryaku2013.html

 

図 5 日本再興戦略 改訂版(2014年6月)

FIG6_141212

出典: 「日本再興戦略」改訂2014 -未来への挑戦- http://www.kantei.go.jp/jp/headline/seicho_senryaku2013.html

 

グローバル市場は今後も、第4の矢の明確な方向性に、大きな関心と期待を寄せ続けるであろう。当初の、消費税増税を伴う財政再建、その後、東京オリンピック(2020年)の開催決定など、その方向性は移り変わりつつあるが、追加的な刺激策、持続可能な構造改革が必要なことは、全ての市場関係者に共通の認識である。

 

セレントは、イノベーションとグローバリゼーションこそが、成長のドライバーと信ずる。金融ビジネスの領域では、今まさに、2つのグローバリゼーションが進行中である。すなわち、海外拡大戦略と国内市場のグローバル化である。前者は、新興国における金融市場創設に際しての、官民一体となった支援と事業化、アジア市場を中心としたM&Aの展開、製造業の海外生産に呼応したローカル金融ビジネスの展開である。後者は、金融資本市場のグローバル化、法人向け、個人向け双方でのグローバル金融サービスの展開である。そのいずれもが、デジタルを筆頭とした、エマージングテクノロジーを活用したイノベーションによりドライブされている。アベノミクスの第4の矢もまた、イノベーションとグローバリゼーションにその標的を絞ることが期待される。

 

図 6: セレントの考える、成長戦略のテクノロジードライバー

FIG7_141212

出典: セレント

 

[1] Address by H.E. Mr. Shinzo Abe, Prime Minister of Japan, at the New York Stock Exchange, September 25, 2013, http://japan.kantei.go.jp/96_abe/statement/201309/25nyse_e.html

[2] 「来年もアベノミクスは買いです」 値上がりに沸く大納会で安倍首相があいさつ、December 30, 2013, http://sankei.jp.msn.com/economy/news/131230/fnc13123016480005-n1.htm

[3] The Next Stage of Abenomics Is Coming, WSJ, September 18 2014, http://online.wsj.com/articles/shinzo-abe-the-next-stage-of-abenomics-is-coming-1411080939

[4] My ‘third arrow’ will fell Japan’s economic demons, FT, June 30, 2014, http://www.mofa.go.jp/p_pd/ip/page4e_000101.html

A Recap of Celent’s Recent Innovation Form on Innovation and Digital Strategies in Tokyo, Part 2: Panel Discussion

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Dec 8th, 2014

This is the second and final installment recapping the Celent Innovation Forum in Tokyo held on October 17.

 

In the panel discussion following the keynote address, titled “Digital Strategies in Financial Services: Challenges and the Future Landscape,” three expert panelists from the financial and IT sectors enthusiastically shared their thoughts on innovation initiatives, their implementation, and the outlook for the future. Although focused on banking services and retail payment services, the impassioned discussion drew on their respective expertise in mobile banking, M-POS (mobile point of sale), and cloud services, reflecting their enthusiasm for innovation and progressive initiatives.

 

After providing a brief overview of their companies and business operations, discussion turned to topics including digital banking payment services as well as factors accelerating and hindering the adoption of digital services. Below are some of the many noteworthy panelist comments.

 

 

“The more innovative services are the more prone they are to trigger friction with existing values. Overcoming the resulting this conflict and unease is a very important element. Innovative services with a capacity to disrupt are to be offered after the communication and similar efforts necessary have been taken to resolve these.”

 

“There are limitless ideas and hints that can be found, but often the biggest obstacle to achievement is inside your own company or yourself. The key to success is how organizational leadership and individual passion can be sustained to achieve specific goals.”

 

“The position of banks gets increasingly challenging as diversification continues in the payments business. Banks need to take into consideration the entire ecosystem and consider group partnerships and synergies in light of their roles and strengths. The yardstick for making decisions should be whether taking an action will create added value for customers.”

 

“A company’s business domain is the key to success. The refrain ‘make commerce easy’ means enhancing the all-around efficiency of a customer’s business by increasing the time spent discussing products and communication with customers—two factors traditionally at the core of doing business. Moreover, as new services are designed one after another, companies should ensure that they do not stray from their area of business.”

 

“Our company is a technology company and we design payment services rooted in innovative technology. The spread of advanced technology to all corners of the industry will make it possible to offer services to everyone. That is the vision of our company.”

 

“The keys to success will be the pursuit of convenience, security, and superior design. Toward that end, you need to look at things from the simplest perspective and build services from scratch. In financial services, people tend to think that if an approach differs from historical ways of doing things, then it is inherently dangerous. That is a mistake. Why assume that existing methods are safe?”

 

“Cloud services have the potential to dramatically impact the world—dramatic in the sense of fundamentally changing the people’s lives and making them wonder how they ever lived without them. We can learn about these possibilities from other industries.”

 

“Companies that move from the theoretical and the drawing board to implementation are the companies that will succeed. In that process, companies can confirm the core value and effectiveness of their business. In today’s world, a company can’t maintain competitiveness without technology driving the business.”

 

“The cloud is an avenue for initiatives to tackle current-day business challenges, such as tackling unforecasted surges in traffic and global expansion in addition to the initial core-value focus, in particular from the perspective of mitigating failure costs.”

 

“Apple Pay will be embraced as a payment service that has sought to provide added value. At the same time, it is fair to expect that it will also highlight differences between social and commercial practices internationally and in Japan.”

 

“The establishment and destruction of ecosystems are key. Apple is always undertaking new challenges. Disruptive innovation in the music industry has changed more than the structure of the industry—it has also fundamentally altered the lifestyles of consumers. What is going to happen when it comes to retail payments?”

 

 

Celent believes that the three panelists embody the spirit of what it means to be an innovator in that they do not rest on their laurels or grow complacent after success, instead looking ahead in pursuit of the next project, heightened improvements, or further growth. The panelists were visibly united in their passion for innovation. Moreover, the panelists’ shared enthusiasm for implementing innovation and leading their teams to innovate helped to shed light on the essence or the “DNA” of what it means to be an innovator. Innovation is people-driven evolution. The event proceedings all served to reinforce anew that skillfully harnessing digital technology and developing digital services innovation are people-driven endeavors and that the “expectations and ambitions” of people are of the utmost importance.

 

Finally, we would like to express our deepest gratitude to everyone who participated in the event and particularly the panelists who took time to share their opinions and expertise. Celent hopes that this event was both educational and inspiring, and that it will prove a catalyst to further innovation.

 

The discussion in Tokyo was carried over to innovation roundtables in Singapore and Australia. Celent will continue to work with leaders in financial innovation in Japan and in Asia to discover and illuminate cutting-edge thinking in the industry.

 

A Recap of Celent’s Recent Innovation Form on Innovation and Digital Strategies in Tokyo, Part 1: Presentations

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Dec 8th, 2014

On October 17, Celent hosted the Celent Innovation Forum in Tokyo. We will be posting a two-part recap that covers the key points of the event.

 

Keynote Presentation 1

The core message of this address was that the current ecosystem is changing and market players need to respond. The business environment is fueling change against a backdrop in which external pressures and factors such as consumer experience and expectations, economic deterioration or improvement, regulation and drastic changes to the competitive environment amplify existing pressures—such as pressures to grow revenue and cut costs. As such, players in the banking and financial industries need to modify their business models through changes in channels and architecture as well as innovation.

 

At the event, Celent introduced relevant cases from around the world addressing the below three themes in the context of digital and omnichannel frameworks and banking technology—two themes that Celent has consistently advocated.

  1. Digital and omnichannel
  2. Innovation and emerging technology
  3. Legacy and ecosystem migration

 

After touching on the latest technology trends, including Apple Pay and Bitcoin, the presentation addressed the importance of innovation in the context of Celent’s conceptual framework of creative destruction.

 

Fig 1 Digital and Omnichannel Framework

FIG1_141208

Source: Celent

 

 

Keynote Presentation 2

This presentation examined innovation initiatives in Japan’s financial services industry focusing on the below four retail payment areas.

  1. Traditional payment methods including cash, credit cards, and debit cards
  2. Second-generation payment methods such as electronic money and prepaid cards
  3. The most successful e-commerce payment services
  4. Omnichannel initiatives that cuts across the above three categories

 

What emerged as common to these four areas was that the key to success in innovation is the proliferation and use of digital technology, ecosystem creation, and the advancement of open innovation. In particular, the below five points were presented as areas that should we receive prompt attention.

  1. Card payment information multiview and control
  2. Value-added offerings that leverage card payment services
  3. Real-time transaction alerts
  4. Advisory services based on transaction data analytics
  5. Social media integration

 

Fig 2 Japan’s Financial Services Industry focusing on four Retail Payment Areas

FIG2_141208

Source: Celent

 

The winners for the 4th Asia Insurance Technology Awards

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Nov 20th, 2014

Celent and Asia Insurance Review are proud to host 4th Asia Insurance Technology Awards which recognize excellence and innovation in the use of technology within the insurance industry. The award was given on the Asia Insurance CIO Technology Summit on 20 Nov 2014 in Mandarin Orchard Singapore.

Asia Insurance Technology Awards is organized by Celent together with Asia Insurance Review. Thirty eight nominations from insurers in Australia, China, Hong Kong, Taiwan, Singapore, Malaysia, India, Sri Lanka, Indonesia and the Asia Pacific Headquarters of global insurers were evaluated this year and nine winners were selected by Celent AITA evaluation team consisting of analysts from Asia, Europe and North America. There are many impressive cases. Unfortunately we can’t honor all of them. I would like to take this chance to congratulate all the companies that had submitted their nominations for their great achievements!

The winner for Best Mobile Application Award was ICICI Lombard General Insurance
ICICI Lombard implemented the Assure Tablet Application that allows agent and sales persons to complete the entire workflow in the field, including collect customer information, accept payment via Debit or Credit Card, and print policy issue. The project has improved productivity of sales persons by 33%, and reduced the policy issuance cost by 47%. The company won the award because of the use of mobile technologies to enhance efficiency and productivity, and the quantitative business result achieved.

There are two winners for Digital Transformation Award. One winner was AIA Malaysia
AIA Malaysia introduced the Integrated Digital Platform – an iPad-based suite of applications, which acts as a mobile office for all AIA Malaysia Life Planners. The platform is comprised of a Point-of-Sale solution, iResources, ePolicy, ePayment, iServe, eRecruitment, and eLearning. The company won the award because of the digital transformation of the agent channel and the quantitative business results achieved.

Another winner for Digital Transformation Award was Achmea Australia
Achmea Australia implemented Sapiens IDIT’s core insurance solution and Risk Scan mobile solution, enabling their risk specialists to do an initial risk analysis on-site with farmers. The company won the award because of the use of mobile technology, dematerialization, integration of the front-end with the core system to realize Straight-Through-Processing. Its relationship-based business model delivers a unique proposition to the Australian farming community. This also makes them a winner of this year’s Best Newcomer Award, which recognizes the best new player in the insurance technology field.

The winner for IT Leadership Award was Mr. Somesh Chandra, Director of Customer Service, Operations and Technology of Max Bupa Health Insurance
Max Bupa implemented a business process automation platform to automate its core business processes. It significantly reduced the turn-around time for policy issuance and claims, increased productivity, and reduced operating cost. The vision and leadership in the delivery of technology to business belonged to the company’s director of IT, Mr. Somesh Chandra.

There are two winners for Best Insurer: Technology Award. One winner was MetLife Global Technology & Operations Asia
MetLife deployed MongoDB Big Data technology, and implemented “The Wall” initiative in MetLife’s Japan call centre, which provides a 360 degree view of MetLife’s customers by simultaneously leveraging data scattered across more than 70 systems onto a single screen. The company won the award because of the successful usage of big data technology.

Another winner for Best Insurer: Technology Award was Reliance General Insurance
Reliance General Insurance implemented Enrollment Manager, a system that enables process driven automation for managing enrollment related activities and data handling value chain for a government-run health insurance scheme, to achieve maximum enrollment conversions. The company won the award because of the quantifiable business benefits and the important role technology plays in the organization.

There are two winners for Innovation Award. One winner was Fubon Insurance
Fubon Insurance introduced “Immediate Assistance” service, a service that allows for immediate response from a representative immediately after they see a car accident. Fubon’s professionalism and dedication is displayed by the fact that this service extends even to non-policyholders of Fubon. By using Fubon insurance’s internal mobile claims app, they have accelerated the claims process for policyholders. And for non-policyholders, the experience allows for sharing of information on what to do in case of a claim. By offering the service beyond client’s expectations, Fubon Insurance build up their professional image and successfully increase the motor sales volume.

Another winner for Innovation Award was MetLife Hong Kong
MetLife Hong Kong introduced an innovative mobile app – The MetLife Infinity app, which is a virtual time capsule, allowing people to securely capture, host, organize & share important messages, photos and videos with designated people of their choice either instantly, or at a predetermined time in the future. Users can also upload practical items that their loved ones may need to access, such as important documents and details for accessing accounts and policies, insurance documents, trust forms, wills, etc. The innovative app leads to brand awareness, created positive word of mouth, and drives action – 40% of those who registered on Infinity opted in to receive promotional information. The company wins the award for its innovation in using social network and mobile technology.

5th Asia Insurance Technology Awards will open for nomination during June 2015.
I’ll post another blog when the nomination is open, you also can find information on Celent website http://www.celent.com/aita.

セレント イノベーションフォーラム「デジタル金融サービスへの取り組み」を振り返って(その2)

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Nov 11th, 2014

セレントは、2月の「ラウンドテーブル:Making Innovation Happen」、6月の「イノベーション&インサイト・デー」に引き続き、10月17日、「イノベーションフォーラム」を開催した。

本稿は、本イベント報告の第2回である。

 

基調講演に続く「イノベーションパネルディスカッション」では、「デジタルバンキング/ペイメントサービスの課題と今後のあるべき姿」と題して、日本の金融・IT業界を代表する3人のパネリストと共に、イノベーションに関する取り組みと想い、その実践と今後の展望が議論された。バンキングとリテールペイメントを主たるサービスの舞台とするものの、モバイルバンク、M-POS、クラウドサービスと、立ち位置の異なる3人のパネリストのディスカッションは、先進的な取り組みとイノベーションに賭ける熱き情熱に溢れるものであった。

パネルの議論は、各社の事業概要の紹介に引き続き、デジタルバンキング・ペイメントサービスへの取り組みから、デジタルサービスを加速する要因と阻害する要因へと展開された。以下、発言者は特定せず、パネリストの印象的なコメントを、引用する。

 

「革新的なサービスであればあるほど、既存の価値との軋轢が生じる。そうしたコンフリクトや不安の解消が、とても重要な要素。そうしたコミュニケーションや努力の上に、破壊的威力を持ったサービスが提供される。」

「ヒントやアイディアは無限にあるが、その実現を妨げるのは、実は自社の中や自分自身の中にある。その実現に向けた組織のリーダーシップや個人のパッションをどう持続させるかが、成功の鍵。」

「多様化し進化するペイメントビジネスのなかで、銀行の立ち位置が難しい時代となった。エコシステム全体を見渡し、自社の役割と強み、グループ連携やシナジーの考慮が必要。顧客に対する付加価値が、尺度となるべき。」

「事業ドメインが大切。“Make commerce easy”とは、お客様のビジネスを全方位で効率化し、本来の商取引の根幹である、お客様との会話や商品についてのコミュニケーション時間を増やすこと。次々と開発される新サービスも、この事業ドメインから決してぶれない。」

「当社はテクノロジーカンパニーであり、テクノロジーを前提にペイメントサービスを設計している。高度なテクノロジーが隅々まで普及することで、全ての人々にサービスが提供可能となる。このことは、当社のビジョンである。」

「利便性と安全性とデザイン性の追求が鍵。そのためには、物事をシンプルに捉え、ゼロからサービスを設計すること。金融サービスでは、『これまでのやり方と違うから危険』と思われがち。これは間違い。何故、既存のやり方が安全と言えるのか。」

「そのテクノロジーに出会って、人生が変わったと思えるほど、クラウドサービスには大きなインパクトと可能性がある。そうした可能性を、もっと他産業から学ぶべき。」

「机上の空論よりも、まず実践を行った企業が勝ち残る。その中で、自社のコアバリューやビジネスの有効性を検証する。テクノロジーがビジネスをドライブする事なしに、今日の競争優位は保てない。」

「当初のコアバリューフォーカス、特に失敗コストの軽減などの観点に加え、予期しないトラフィックの増加対策、グローバル展開など、今日的なビジネス課題に直結した取り組みが、クラウドにはある。」

「Apple Payは、ペイメントサービスへの付加価値追求として、歓迎される。一方で、グローバルと日本の社会文脈や商慣習の違いもハイライトされるであろう。」

「エコシステムの構築と破壊が鍵。アップルは、常にこの挑戦を続けている。音楽産業におけるディスラプティブなイノベーションは、業界構造のみならず、消費者のライフスタイルそのものを変えた。リテールペイメントにおいてはどうか?」

 

セレントは、自社と自らの成功体験に慢心する間もなく、次の取り組みや改善に、新分野での成長を追求するパネリストの姿勢に「イノベーターのDNA」を見出した。何よりも「イノベーションが大好き」で、常に「イノベーションを実践」し、チームを「イノベーションに導く」ことが、今回の3人のイノベーターに共通であった。イノベーションは、「人が生み出す『進化』」である。デジタルテクノロジーを駆使するのも、デジタルサービスを展開するのも、皆、人の営みであり、「人の期待と意欲」が最も重要なポイントと認識を新たにした。

 

最後に、パネルディスカッションにご登壇下さったパネリストの皆様、また、様々な形で本イベントにご参加下さった日本の金融業界のプロフェッショナルの皆様に深く感謝申し上げたい。セレントは、今回もまた、本イベントがご参加の皆様にとって、次のイノベーションの触媒となることを強く祈念する。

イノベーションを巡る日本での議論は、この後、シンガポール、オーストラリアでのラウンドテーブルとカンファレンスに引き継がれた。日本で、アジアで、セレントはグローバルな金融イノベーションリーダーと共に、明日のソートリーダーシップを探り続けていく。

 

図 3 音楽産業における、ディスラプティブ・イノベーション

FIG3

出典:Henry Chesbrough, Open services innovation, セレント

セレント イノベーションフォーラム「デジタル金融サービスへの取り組み」を振り返って(その1)

Post by

Nov 11th, 2014

セレントは、2月の「ラウンドテーブル:Making Innovation Happen」、6月の「イノベーション&インサイト・デー」に引き続き、10月17日、「イノベーションフォーラム」を開催した。

本稿では、本イベントの要諦を2回に分けて報告する。

 

 

基調講演①「世界のバンキングのイノベーション最新動向」

消費者の経験や期待、経済状況の悪化や好転、規制と競争環境の激変といった外圧が、既存の圧力(収益拡大、コスト削減)を増幅し、取り巻くエコシステムの変化を促している現況を背景に、「銀行業界、金融業界は、チャネルやアーキテクチャの変化、そしてイノベーションを通じて、ビジネスモデルを修正する必要がある」とのキー・メッセージを発信した。

セレントの提唱するデジタル&オムニチャネルのフレームワーク、バンキングテクノロジーを巡る3つのテーマ

①デジタル&オムニチャネル

②イノベーション&エマージングテクノロジー

③レガシー&エコシステムマイグレーション

に従って、グローバルな事例を紹介した。Apple Payやビットコインなど最新テクノロジーの動向にも触れた上で、セレントの考えるクリエイティブ・ディスラプション(創造的で、破壊的な影響力を持つ変革)の枠組みを用いたイノベーションの重要性を説いた。

 

図 1 デジタル / オムニチャネルのフレームワーク

FIG1

出典:セレント

 

 

基調講演②「日本の金融業界におけるデジタル&オムニチャネルバンキングの取り組み」 

日本の金融サービス業界がイノベーションに向けて現在どのような取り組みを行っているか、以下の4つの枠組みで俯瞰した。

① 現金、クレジットカード、デビットカードと言った、トラディショナルな決済手段

② 電子マネーとプリペイドカードに代表される、第二世代の決済手段

③ 隆盛を極める、電子商取引に付随した決済サービス

④ 以上3区分を横断するオムニチャネルサポート

その中で共通する事項として浮かびあがったのは、「デジタル技術の普及と活用、エコシステムの形成とオープンイノベーションの進展が、イノベーションの成功の鍵を握る」という点であった。

 

中でも、速やかに、躊躇なく取り組むべきポイントとして以下の5つを挙げた。

①カード決済情報のマルチビューとコントロール

②カード決済サービスを活用した付加価値提供

③リアルタイム取引アラート

④取引実績データのアナリティクスに基づくアドバイザリーサービス

⑤ソシャルメディアとのインテグレーション

 

図 2 日本のリテールペイメント市場における主要決済手段の区分

FIG2

出典:セレント

Asian Vendors Looking to Pivot

Post by

Nov 3rd, 2014

I’ve just returned from a two-week swing through Asia, with stops and roundtables in Tokyo, Singapore, Melbourne and Sydney. Along with my colleague Neil Katkov I was fortunate to meet a large number of clients and market participants, both banks and their ecosystem partners, in a series of more than two dozen meetings.

In each country Celent hosted a half-day session on digital innovation. Attendance was good and discussion spirited; digital and omnichannel is a topic that every bank across the region wrestles with. Their service providers, too, are keenly interested in the topic.

What struck me as particularly noteworthy, however, was that a large number of providers are trying to reposition themselves in the marketplace. Their (legacy) brands are extraordinarily strong, which is a blessing and a curse. Brand strength is great, but when it’s associated with a technology that’s in decline, and not yet associated with new areas of investment, then vendors are put in a difficult position because they don’t get the calls associated with that new fintech. A common question for us was, “how do I get the message out about this new solution I’ve developed?”

There’s no one answer, but I’d suggest to banks that they cast a wide net when looking to address their new technology problems; many of their historical partners are learning (or at least trying to learn) new tricks. That their marketing (broadly defined) has yet to catch up shouldn’t dissuade banks from seeing what new solutions they have to offer.

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