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.
Introducing the Analogic framework for business planning applications
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?
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
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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
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Source: Gartner, 2019
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
28. NTT DATA Open Innovation
programme in collaboration
with:
London – Level39 – 13th December
Edinburg – The Data Labs – 2nd December
https://uk.nttdata.com/openinnovationcontest
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