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©2015 AKAMAI | FASTER FORWARDTM

John Ellis

Chief Strategist, Cyber Security (APJ)

Akamai Technologies

Designing a ‘resilient’ smart bank



Grow revenue opportunities with fast, personalized

web experiences and manage complexity from peak

demand, mobile devices and data collection.

‘resilience’


What is resilience?

Resilience is the ability to prepare for and adapt to

changing conditions, and withstand and recover rapidly from

disruptions.

Ability to deliver your business services irrespective of

disruptive events (deliberate or accidental)


What is the smart bank….? A personal opinion!

Develop my financial

literacy

Help me achieve

financial freedom

Anticipate my needs

I want you to know me

Reward me


The revolution

World’s largest taxi company owns no taxis


The revolution

the world’s most popular media owner

creates no content


The revolution

the most valuable retailer has no inventory


The revolution

World’s largest accommodation provider owns no real estate





See the trend?

What’s the future for the traditional bank?


Adapt….or be lonely?


Innovation in Banking – reality check!!!

Strategic innovation is rare

Financial Services despite popular

opinion are slow to innovate

Innovation happens out of dire

necessity

There are some fundamental

economic limits in the current

banking model


First, what are considered innovative business models?

Intelligent Multichannel

• Next best action engine - focus on moments of truth

Social Engaging

• Engaging customers where they spend their time

Becoming the everyday bank

• Access provider

• Benefit provider

• Access facilitator






Asia 52%

Americas 22%

EMEA 26% 2 Billon social media users are online

and this is where they engage with

brands

50 Percent of banks use social media.

25% plan to use, 22% don’t plan to use

2014

Key challenge for banks to use unstructured data to

have customer 360 view

Payments 46 3 Forces align, mobile, unbanked

customers, culture

Percent of Asian consumers use their mobile to

pay for goods and services

60

12 Billon dollars promised to be saved through virtual teller applications by

Percent of banks will use cloud

for transactions by 2016 30X

2017 Virtual Banking

Social Biz

280 Business capabilities 180

more expensive to do a transaction in the

branch then online

Business scenarios – BIAN 3.0 Open Bank


Technology trends that are enabling disruption and innovation


The nexus of innovation and connectivity

Asia accounts for

approximately 45% of

internet users – 1.35

billon users

Asia accounts for

approximately 70% of

global attack traffic

What alternative is there

to connect your

customers?

The number of Internet

users will surpass 3

billion this year


Internet + Innovation = Growth



An example of innovation in a bank – we can be innovative!!!


How many times can you be stung?

Single competitor can be annoying,

perhaps have minimal impact on

your value chain…….but

A swarm is a different

proposition


Strategy: be the beekeeper (collaborate)

So why not become the beekeeper?

..and collect the honey?


Can the cat and mouse really get along?


3 Incident Classification Patterns cover 75% in FSI

0%

5%

10%

15%

20%

25%

30%

35%

POSIntrusion

Web AppAttacks

InsiderMisuse

Theft/Loss Misc Errors Crimeware CardSkimmers

Denial ofService

Espionage Everythingelse

Security Incidents by pattern

Split of patterns in FSI Split of patterns across all industries

Source: Verizon DBIR 2014


In conclusion

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