The rise of the digital channels have given banks a unique opportunity to drive lower complexity, everyday tasks to digital channels while beginning to refocus live channels to provide guidance and support for more complex, relationship building activities. 

Disruption brings opportunity both for you and for the disruptors, who are faster, stronger, and sometimes even better at giving customers what they really want, more conveniently than before. The question is, how do you turn digital disruption into opportunity and fundamentally rethink how social, mobile, and tablets can transform your consumer banking experience? 

Via Forrester Blogs

Every day, new studies arise that make the case for why your CEO needs to get social – and the benefits to employees, shareholders, customers and influencers alike. 

The relative anonymity of social media – which some suggest may be the very thing that is making the C-Suite socially shy – provides an opportunity for the kind of candid, authentic discussion a CEO may be hard pressed to find in a corner office. Via Social Media Week

Collaboration happens around some kind of plan or structure, while cooperation presumes the freedom of individuals to join and participate. Cooperation is a driver of creativity. It is based on sharing rather than working together toward a specified goal.

What are the implications of this distinction? Via Harold Jarche

Businesses faces a dynamic landscape where both customer and employee demands are changing.  The world is changing, and there are three market shifts that are driving this change – mobile social and cloud. These trends change what we connect, how we connect and how we transact.

Obviously mobile is changing what is connected. We are moving beyond laptops and smartphones. It’s moving to billions of connected devices as we connect tablets, cars, machinery and medical equipment. Ericcson and Cisco estimates there will be 50 billion connected devices by 2020 as we look to add sensors in just about everything. These devices can be as sophisticated as a tablet or as  simple as a sensor that monitors humidity.

We’ve discussed consumerization of IT for years. It’s happening and its not all bad. Consumers are now willing to buy their own devices and bring them into the workplace – and this is the year that CIOs embrace this trend. As a result, companies can move from 15% of the employees being mobile to over 80%. So clearly mobile is changing what we connect in terms of devices and in terms of corporate supported assets.

In addition to what we connect, mobile also changes how businesses connected. Not only are devices changing, but the software landscape is changing as well.  It’s the first time in roughly 15 years that anyone has considered using an OS other than MSFT’s as a foundation for software. There are at least four major contenders in the battle for the next-generation OS.  I’m sure we could debate the winners and loser for hours but the end result is the same.  The software landscape will fundamentally change. Existing enterprise apps will be rebuilt to operate over multiple operating systems. Apps will be screen adaptable and network aware. And most importantly, new apps will be designed with mobile first in mind. The emergence of these new post PC apps will change who our IT vendors are. Perhaps it’s Microsoft, Oracle and SAP.  However, this isn’t guaranteed, which means at least $450B in software market cap may shift to new vendors as we make this transition.  Advances in the mobile web mean that some companies are now considering writing full applications that run entirely in the Web.

The second trend, social combines with mobile to change how businesses engage with its customers and employees. Social is changing the way firms market and deliver customer service. But social isn’t something that is reserved for consumers. Social software is changing our enterprise collaboration tools and its changing engagement within business apps such as CRM. Game mechanics are being used in retail for B2C but also in business environments for rewards.

Finally, cloud and virtualization are changing the fundamental infrastructure of a business. Cloud adds new computing models that changes storage and processing.  CIOs are looking at network virtualization, not just VPNs, but also the opportunity to decouple network services from the underlying physical hardware.  IT is evaluating what lives on premise versus off-premise as many firms opt to move to a hybrid cloud environment. Cloud services provides a test and development environment for new apps and has opened the floodgates for new software innovation as well as new pricing and distribution models with SaaS.

There’s a sense of profound change in the air in the large companies I speak to these days. The rapidly changing consumer technology world, along with a huge helping hand from the Web, is fundamentally changing how business gets done.

Most of us have either witnessed this or have read it the press. We see this change all around us in the highly innovative new mobile devices and their ecosystems upending the world of personal computing. For its part, the cloud is rapidly becoming the way we deliver and receive virtually every meaningful service today, from music, TV, applications, news, phone calls, social media, etc. Even our data centers are beginning to move out of our organizations. This year I hear story after story from large company CIOs partially — or even in some cases almost completely, moving their IT outside the firewall, something almost unthinkable even a year or two ago. If these changes were all that was happening it would be a major challenge for any organization.

Compounding the mobile and cloud story is the consumerization of information technology — another one of the major drivers of change today — and something I’m calling CoIT for short. The world of CoIT is moving and innovating far faster than the business technology world. Along the way, it’s been making highly sophisticated and powerful technologies extremely easy to obtain and use, while also dramatically changing the buy side economics of technology with advances such as app stores and software as a service. Right behind this is the big data movement, which is making sense of and creating real value out of the deepening streams of information pouring forth from our applications, devices, and connected social ecosystems. While big data is the least developed of these changes, all of these represent major global trends.

Taking all these together, we have a closely grouped set of serial disruptions of the technology world and associated business landscape that are happening almost at the same time. As a number of my readers have pointed out, these trends are also intertwined and co-related. However, it is the social media revolution that may go down as the biggest revolution of all of these, and as applied to our organizations, is often called social business. Transformative social technologies in the form of public social networks like Facebook and Twitter, or the rapidly emerging platforms of Social CRM (soon to be a $1 billion new industry), and the steady proliferation of social collaboration in the enterprise, are all just data points of a larger social megatrend.

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