BTOES Insights Official
August 03, 2020

BTOES Financial Services Live - SPEAKER SPOTLIGHT : Digital Growth Strategies


Courtesy of Wells Fargo's Sayeed Sanaullah, below is a transcript of his speaking session on 'Digital Growth Strategies' to Build a Thriving Enterprise that took place at BTOES Financial Services Live Virtual Conference.


Session Information:

Digital Growth Strategies

The need to move to a more digital banking model has been planned or played with for almost a decade, but COVID-19 has made the need for digital growth strategies, improved digital experiences and reduced operational costs more important than ever.

Financial institutions of all sizes must reassess their existing business models, core systems structure, distribution networks, commitment to innovation and product assortment for a marketplace with more demanding customers, more agile competition and shareholders who are looking for greater efficiencies.

With this health crisis, customers are more willing, more accepting and more welcoming than ever before to a digital channel, digital platform and digital service. This presents the right opportunity for financial services firms to aggressively drive digital growth strategies. 

This session will focus on the following digital growth insights:

  • Leverage relevant ecosystems beyond the traditional core
  • Develop a financial supermarket
  • Capitalize on growth opportunities shaped by customer journey
  • Monetize customer interaction, engagement and data responsibly
  • Evolve into a product, service or infrastructure/platform manufacturing factory

Session Transcript:

Yes, it's a real treat. So I would like to welcome Saeed ..., who is the serves as the first vice president of corporate strategy and strategic planning at Wells Fargo. Hello say, great to have you with us. Site. It has over 17 years of leadership experience in financial services. Banking, technology industries. He's a Wharton fellow at the University of Pennsylvania, Wharton School, and a CCA CSA Charter holder side. What a true honor to have you here and share your expertise with us.

Thank you, Jose.

It's my pleasure to be here.

Thank you for having me.

And a good morning, good afternoon to everyone depending on your location.

And thank you for joining me to learn more about digital growth strategies for financial services.

See you might know that this code pandemic has moved more customers two digital channels than any single event in our lifetime.

Consumers who have never deposited that check by taking a photo transfer funds between accounts using their mobile device are communicated with friends and family.

Using radio channels we're essentially made aware of the power of digital digital technologies and systems have reshaped, bake gnomic, both impacting the businesses including bands.

The lead to move to a more digital banking model has been debated, gland and played which for almost a decade, digital technologies and systems have reshaped the economic forces impacting banks so what are the factors are underlying trends behind these details?

Screenshot - 2020-08-03T183536.411Enhancements are our digital strategy, number one: it's the new pressure on prices and margins.

Digital technologies create near perfect transparency, Making it easy to compare prices.

Service levels and product performance Consumers can switch among digital retailers drawn services with a few clicks.

Our fingers swipes. The second factor is competitors emerge from unexpected places.

So, digital dynamics often undermines barriers to entry and long standing sources of product differentiation.

The third factor is the plug and play business model.

As digital pulses reduce transaction cost value chain desegregate.

Third party products and services, like a digital Lego block in effect, Can quickly into V two grated, into the missing pieces are. Reporting to gaps.

In US, the registered Investment Advisor, admin, fast growing segment of the investment advisory business, for example. They then expanding so far, largely because they Insoles turnkey system, including the recordkeeping and operating infrastructure.

What changed from the likes of Charles Schwab, Fidelity and others? So what's different now, we know all of the fact that this has existed for so many years, even decades.

So it's the coolest nineties that has made the need for digital growth strategies, improved digital experiences, and reduced operational cost, more important than ever. On the slide you can see around these three key factors are there, elements around customer behavior.

The adoption, so the adoption of digital solutions to lead leaped ahead by several years.

due to stay at home roots, and many new adopters, may never go back.

So, with this Help, prices, the customers are more drilling, more accepting, and more welcoming than ever before, to our digital channel, a digital platform, and digital service.

So, this presents the right opportunity for financial services firm to aggressively drive digital growth strategy.

five, digital strategies for banks, which I'll talk about during this session that can fuel growth and profitability.

And so, if there were any lingering doubts about the necessity for digital transformation, the business longevity, the current ISS can fit them.

Btog CTAIn a contact list avoid, the lost majority of interaction with customers and employees must take place virtually. With rare exception.

Operating digitally is the only way to stay, investment, to mandate it, shut down and restricted activity.

It is go digital or go dark.

So really take a deeper dive into five digital growth strategies.

Number one, leveraging relevant ecosystems beyond the traditional core banking ecosystem is an inter-connected set of services where customers can fulfill a variety of needs in a single integrated experience.

Number two: developing a financial supermarket.

The financial supermarket can benefit golf GMO's by offering increasing convenience.

Number three, capitalize on growth opportunities shaped by customer journey.

Banks can grow by engaging with customer at all stages of the decision journey.

Number four, monetising, Customer Interaction, Engagement in data responsibly.

Companies can put their information to work, like teasing out, noble path and driving profitability, and creating new solutions.

The last and the fifth one is for the banks to evolve into a product, service, or infrastructure, or platform manufacturing factsheets.

That is banks for wide platform products and services to you and developing companies.

Those could be printed out to all and the bank need not compete with them. They could adopt a competition approach that could co-operate and compete.

So diving into the first element of that.

five strategies, Diving into the ecosystem, extending beyond the core, allow banks to creat ecosystem, helping the customer simplify this daily life.

So you can see on the screen there are three lids circles. First one is the core, The second is a banking ecosystem and the outermost layer, the non banking ecosystem. And this is treating all the circles. The concentric circles there have been divided into two parts. The top hop is business to consumer, from the bottom up, as a business to business.

So, in the digital banking environment, there is no reason, why financial services organizations should be limited to offering only traditional core banking services.

In fact, the future of banking will most definitely include the integration of products and services, from a wide variety of providers, all focused on helping consumers simplify the daily life without leaving a primary financial institutions portal all on a mobile device, then ecosystem to why she key value complement.

Number one, reduction of friction between related service number two.

Leverage of network effects.

Number three, integration of customer data across its fees of services.

28Banking ecosystems often operate across traditional Indian industry boundaries or different players working in the same space to deliver to banking, customer services.

They lead and value, Idea Bank and the IND, for example, an extended into banking adjacencies that providing services like country suitable management, Factoring, accounting, and cash flow analysis to small and medium enterprise customers.

Some banks have even gone further and moved into non banking agencies.

Post bank, for example, have become the largest provider of mobile services in Italy.

Other banks are pocketing that care providers and health insurers provide a consolidated billing platform that makes it easier for consumers to pay for medical expenses.

Non financial examples, or consumer ecosystem, already exist, which, the financial system, financial industry, could learn a lot from. The examples of such non financial consumer ecosystems are hostile hospitality, healthcare, trollope.

For instance, in the travel ecosystem, they help a traveler secure a flight.

Large Accomodation get a rental car, find a tour guide, and they will restaurants and then statement.

So, these financial services firm could act as the life moments orchestrator.

That is build their own ecosystem across specific life moments. Offering partners access to their own digital customer base in exchange for feeds. These ecosystem could also help with expanding primary relationships.

By offering hyper relevant experiences, it could even help with reducing customer churn, because the bank can deliver more meaningful customer experiences and can follow customers beyond boundaries of traditional relationships.

The banks should consider this option. That should stop thinking about ecosystems will be have a significant market share in one or more core product area.

So, they have already captured as most growth opportunities as possible, supporting in more effort, in, in another core product, on the same core product, would be less beneficial when expanding into an ecosystem, and that is when the bank should consider the option.

The next strategy is the financial supermarket.

So banks can operate as a market orchestrate. Those are super market pockets.

So taking a page from large digital businesses, banks can offer a curated and vetted, mixed up internal and third party offering. This aggregation models provide customers with easy one stop access to financial products.

And the ability to address multiple financial needs through a single, integrated channel to build a privileged relationship with the customers.

The supermarkets for product offering would combine a wide range of services. Now, the concept of marketplace.

The banks could operate, again, as a market this off the bat, as they could create a market place, where they are predict their own products, as well as the products are, the company does smaller or bigger and also non financial problems.

They can do also join a third party ecosystem as a participant, offering their own banking products to third party customers. In fact, this kind of marketplace could also be used as a referral platforms. So, both for incoming and outgoing Vanessa incoming. So, if there are things which are, which are customer points in the marketplace, and that could help attract new customers for the bank.

Or if there are, if there are services, which bank could knock off, or lake or direct are such customers to other providers.

So in this case, the Banks should consider this option if they want to provide a breadth of choice prize competitions to the costume us, in fact, that, in terms of best of choice, it's already there in the Melt in Investment Management business.

Screenshot (4)Most of the large wealth and investment management firms had an open architecture platform, where they offer investment products from the companies, as well.

However, if there is ... under the customer, we already see that in the property, and casualty insurance.

But expanding it to other products, ETFs can allow banks with a strong position in such areas to grow in these segments as a complement to their offerings.

So, the next are the code.

Digital strategy is around customer journey.

So, enhanced digital customer journey to provide customer product service information which can be dollywood effectively and seamlessly.

For most consumers, working with the bank is just a means to an end, as it's ensuring a secure retirement, growing a business, or buying a home, for example.

Most banks, however, tend to focus only on the street, band centered moment in the customer or all journey, such as offering a mortgage when the customers logic goal is buying the hub.

By attending only to bank related part of the overall journey, banks could be leaving cause considerable value on the table.

Banks can draw by engaging with the customer at other stages of the decision journey. For example, a bank might give advice to customers on how to save for retirement, Barbara, for a home.

I helped them to determine best rates and maturity for financial instruments.

So, on the left side of the slide, you can see, discover, design, and deliver. That is the digital customer journey with. With all of those information available digitally, it could be tailored. It could be made more personalized. It could be made more just in time. It could be a cross platform to give you an example. Commonwealth Bank, in Australia, for example, wanted to play a bigger role in home buyer's journey.

So, the bank created an augmented reality app that allows users to point this smartphone camera at their property and instantly see its current tries to some sales history. That's what you see on the, on the right side of the slide that that is a detection of an augmented reality app, where customer using the phone to point out at three houses shows certain details like the sale price or the features in terms of number of drones. Bob has what the address and that is, where the banks could come into play.

That the app could also provide mortgage, calculator and other financial tools plus the option to connect with local realtors.

Such are the elements of the customer journey, particularly digital customer journey, which bank could tap into.

Financial services company can also take actual location, data and mobile activity data.

For example, an avid cyclist who often takes a particular cycling route to work, can have his or her dad on track in real time after analyzing the ... activity, frequencies, the location. Or, even if the customer or the cyclists is taking a picture of a great scene. where he's passing by the financial service provider, can send targeted toward body offers, or even from sports shops. Or even just to show what other shopping avenues are available at the customer classes on this journey.

So, when should a bank considers its options? Banks should consider this option when they have significant market, share, and financial products.

Back, I need to grow to a large flying process, toolkit, example, product, how large bank profits have a significant market share, and financial production. It can leverage or not just health say someone is shopping in a furniture store. Some of the four Matrix: it could cost a lot of money in and say someone is taking a picture using an Augmented Reality app that is also where the bank could share their interest rates.

As well as multiple payment terms to help the customers make purchase more financially meaningfully aswell as satisfy the immediate needs. So engaging across buying journey can allow banks in such a position to gain access to a larger pool of orphaned, children, you, and enrich or all relationships with the customer.

The boat strategy, which really diving deeper, is around information monetization.

So making better use of information or data responsibly, can help banks, Jive, customer centricity, and business value.

More than half of financial services in the pond, and in the recent McKinsey Survey, said that companies have begun monetizing data.

Screenshot - 2020-08-03T183536.411What is more data and information monetizations seems to correlate with industry leading performances?

There are multiple ways to monetize data, and the first is for a bank to use its internal data more effectively for its own operation by adding new analytic capability.

Another is to create new offerings, such as your Coach, or benchmark analytics, based on bank data.

There are several Canada's biggest banks who have partnered with a toronto based secure key in a system that allows individuals to use their bank credentials to access to online services from federal God, man, The system works in much the same way as websites that allow users to login using their Facebook account, except in this case, the Canadian government agencies provide access to online services when visitors enter the bank credentials.

So most of the banks have rich set of exclusive information on the customers, which really key demographic details, where they live the lifestyle preferences.

When you responsibly can that is extremely important, That is, when you just sponsor ability that suspected regulatory constraints and privacy concerns. This data can be analyzed on insights, valuable to companies, and in financial services industry.

There are three key data monetization at coaches and that is what you see at the bottom of the slide depicted by three gears.

So, once the data comes in through the funnel, there's both Js is around data decisioning.

That is leverage insights to enhance processes, utilize the insights from customer and execution.

Add data to enable demand driven innovation and shorter time to market.

Provide just in time insights to make customer interactions easy, quake and transparent, which is positive and full featured.

The second gear, which you can see in the bottom half of the spin data products.

So, offer data as innovative products. Bundle it to deepen relationships and doctor Munch offer personalized products in different ciao.

The third gear on the bottom half of the slide is around data partnership, to share core analytic capabilities with partners for mutual benefit.

While enhancing customer experience, savvy organizations will follow on leveraging advanced analytics to extract insights, from the customer data, and continue eternal and so on.

Data, integration efforts to develop a more holistic view.

So that they could dicta early signals, which really crucial in optimizing the customer experiences and redefining customer value proposition in line with evolving preferences and customer needs. So, how or what could be the benefit of all of these?

beta sense require information centric exports?

There could be full benefits, New sources of revenue, better products and services, which ties very well to improving.

the ultimate in, there could be operational efficiency Again, if the bank is more operationally efficient, providing customer services reaches faster and better.

That again adds value to the customer in the pod, or the fourth, and the finalists profit optimization.

So when should the bank, again, consider this information or monetization or information utilization?

False. They need to look at, do they already talking an information advantage over competitors?

That is the information, NaN. They should also look at whether they have the systems, whether they have connected to, to better leverage those information, or, if they have the prospect of creating an advice, information advantage or extending the existing one.

Why? even looking outside of the farm through external investments and partnerships?

So, now we will move on to the final.

Uh, digital strategy that is around considering large bank at the factory to banks and fintech can adopt propagation that is co-operating computation to increase strategic value.

So even in financial services, it often looks like there's a shock choice to be made between co-operation, competition.

The reality is bullets and feed off each other much of today's innovations taking place as a result of partnerships between banks.

And many banks and fintechs are locked in a battle or customer facing front end.

But large institutions can create significant valued by leveraging backend assets to create and provide products.

What services just model Bank?

And they have a new business, That is because many small and non traditional institution lacks core banking, infrastructure, capital assets, or even banking licenses, and don't have the reach resources to acquire them.

28On the other hand, large financial institutions can address this needs by developing a portfolio of white label products to sell.

Third part is providing infrastructure as a service, and even renting their balance sheet to small and non financial players.

The classic example of this kind of services, which bank is all you're doing, is providing credit card processing to retailers.

In the evolving digital era, many new opportunities you still offer, services like this are working.

So you can see on the left-hand screen, is the case a depiction of large banks have factories, and there's fintech, and they are both competing as well as co-operating.

And as an output of such, a corporation could be a ....

New, innovative products or services could be offered jointly by the bank and the fintech could be, which could be beneficial for the customers. So there are multiple examples.

I can share a couple of examples, given the example a chronic app, which enables users to make direct mobile payments, joint peer-to-peer, in partnership with I N G. In fact, I am just chatted with just having a discussion with the clinic and developing something.

But but later realized that the clinic could be of feature or functionality, or value added services to I N G. So whilst a clinic pocketed, the shops ING's, existing Payment systems.

It also shows that I N G could attractively deal with changes. Extracting the market.

There are, there are a number of fintech determining US, which has partnered with large firms. For example, X A plus partners with a large bank for wide investment. Management products. Services to customers who would be more.

Fee sensitive are whose assets are their needs.

Are they are in the complexity of the leaves are less complexity of the need to be more suitable to celebrate high-tech platform rather than a full service financial advisors.

IMG has also partnered with the US.

Based Fintech Startup Cabbage just so small and medium enterprises customers in Europe. So it could be applied even to B2C and B2B. And Cabbages easy to use interface now will get management algorithms allow it to deliver decisions on loan application in a matter of minutes.

As a startup cabbage had a distinctive new capabilities but lacked capital and customer relationship and that is very high energy comes into the picture.

So, you draw to the partnership deep reservoir of capital, and its existing relationships with prospects, small and medium enterprise customers.

So, a conventional bank come to visit option.

So, for the bank, they should consider this option when that poses a significant back and capabilities that others don't have the ability to extend into and other environments secure.

So particularly the fintech, they may not have such rich customer data.

They may not have a large customer base, or they may not be having the right level, too to service those customers. They might be attractive, too.

Customers who are very sensitive about fees, so they may be able to target a certain size of that month.

They may be able to understand that those customers leave true, two advanced algorithm, but in terms of mapping those needs to the relevant products and services, that is where the large banks come into play, and then ongoing, so it's all of those leads, where banks could how small, new, or even fintech companies.

So, those were the five strategies, which I wanted to share.

So, bringing back to where we started started, digital banking shows, in Kuwait in the kogod 19 pandemic.

The pandemic induced developments in digital banking services are not fleeting, while the impact of the color noise will tunnel or PAE.

The lessons learned for consumer and institutions alike will only deepen the reliance on digital services across all industries.

Trump first time digital accounts and mobile deposits.

To request for payment death row.

Millions of customers flocked to digital banking at the historic days during the day at home, public health emergency of the core with 95.

Digital traffic in the financial sector has soared even in recent months as large and small banks ran off target sponsored ... going digital.

The pandemic banks have seen a double digits rise in both time online accounts, mobile deposit and mobile payments and overall usage of online and mobile banking according to polling with JD power.

The numbers are showing no signs of abating, even us.

The US. Gradually eases emergency restrictions, the ... pandemic has actually already consumers adoption in digital banking and payment options, staggering.

Why employing digital channels, a mobile business model?

Incumbents banks can also enter new geographies, market segments, or be even aggressively, acquire new customers are deepen the relationship with existence, optimize.

The banks come in different shapes and sizes, and, and, and do addiction, typically, two, it could be fit and bank, who may not have as a strong digital capabilities, and that is where some of the customers may not be appropriate itself.

So, the banks who have strong digital capabilities can, can better, such customers, who are not getting the right level of standards with the, with the existing banks, in fact, only in the US the PPP loan.

Participants are companies, many of them didn't get the right level of service they expected, and they have.

In fact, more than 30% of such people took Action Plan. Companies are thinking of switching the existing banks or financial institutions, So this kind of opposite present.

Scenario four.

The big banks to aggressively acquire new customers as well, and more pocketed these digital ways or different approaches.

Could be used again.

When it is prohibitively expensive using traditional approaches, so the bank should focus on the five digital growth chart.

To summarize, number one, leverage relevant ecosystems beyond the traditional core.

Screenshot (4)Develop a financial supermarket.

Capitalize on growth opportunities, shaped by customer journey.

Monetize, customer interaction, engagement, data, responsibility.

And the fifth and the final, evolve into a product, service, our infrastructure platform, Manufacturing factory factory.

So with that, I thank you all for your time and attention. Happy to address any questions.

Thank you very much. Very good coverage of the trends that the banks is experiencing and the opportunities are there in the landscape. So I'm going to ask you to stop sharing your presentation so that the audience can see our screen bigger format. And I'm gonna go right into the questions that we're getting here from the audience and the first one comes from.

Madame, De Cela, is asking, while you define the D, so growth strategies. How do involves the, the business, I see teams in the organization and really any other teams in the organization as you're, as you're formulating the strategies and then thinking about strategy execution.

Sure. Thank you. That's a great question.

And, I think, first of all, even looking beyond the IT or the technology, the most important thing is to set the vision, drive the change from the top.

So, it should not be like something is being pushed to a particular part of the organization may be technology IT. It is extremely important to get that binds the dish, The attitude. That technology function should not be looked at someone who's just a service provider. In fact in the digital world technologies or the technology function plays a much bigger role today, should the rock and very early, their voices and opinions needs to be heard. And that is extremely crucial to, to get their buy in and that is a kind of mindset change.

So, this kind of off the digitally good practice should be driven from the top, but how we work in terms of setting the tone. But hardware in clumps of engagement. It should come from the classroom that, that, the change should come from the graphs, that even from the technology function. So, there are three specific tank to urge I would highlight in terms of getting the technology IT can be involved or engaged in the right way. Number one, make communication.

Make the case for change and describe what you want to achieve, so that they also feel energized and Dale to prioritize that.

Second, encourage engagement. Allow the technology team to participate by discussing and questioning the digital endeavor.

Give them an open place to innovate and experiment praise when they succeed and praise even when they fail, because learning from failure is also really critical.

And the third is to focus on feedback loops. and metrics. Get inputs from the technology.

Understand what the challenges are, so that they continue to see the momentum for this digital, are strategy shift. And it's OK if they can feel that make them that they succeed slowly, because sometimes with the regulations, with the kind of existing business platforms, it may be difficult to just feels fast. But it makes them ensure that they succeed slowly, because many a times some of these digital platforms, the realization of the value may come slowly, but the pace of the realization of value would increase four time. So, again, to summarize, I would say, make communication a top priority, encourage engagement, and focused on feedback loops and metrics from the technology and the IT team.

Very good. And tell us a little bit more about the Collaborations on Formulating Strategies, especially on the aspect of getting the other groups involved and, and the green on which a strategist to focus on. How has that shifted with this was the pandemic. and the and now, we're communicating through no media like this one? And how has that impacted your strategy Design at the bank.

Sure. So it, with the kind of situation in which we are, in terms of challenges designed, particularly related to digital chat to you.

What it has done is something which plan, per se, or a three year period now, that has been shortened it into six month, one year period, so that's the change in terms of timeline. Second, is analysis are for re prioritization of some of the digital strategies, which pipeline.

And I say that the re prioritization, because now the customer need is imminent, so focused on what the customer needs right now. And there could be situations where we may have to just provide a minimum viable product.

It may not be full fledged developed products, but still reprioritize and provide a minimum valuable value products to that. Customer Needs can be fulfilled. Immediately. The tug is two.

Focus, also on how the customer behavior, how the customers as to, how the customer needs, will be wrong in the next big month, or two a year.

to both of the key changes in terms of how the digital strategy thinking has changed or a war. Let's just summarize. Again, the timing has been shortened.

Second route privatization of some of the digital strategies and minimum valuable product. And the tech is looking at just the next six months to one year, and understanding how the school with Maggie Pandemic could change or shift the customer behavior and respond accordingly.

And then someone else, harvest perspective. What has become, the first, let's say, 2 or 3 strategies with the shift in the market?

Sure. Just to understand the question. So well, from both Fargo perspective, what are the 2 or 3 is strategies, digital strategy? Is that the question of that?

Well, let me put it this way. Sure. There has been a re prioritization of the strategies, if you will. Yeah. This customer needs that, you just identify some special, those strategies. You can talk a little bit more about what has been the, you know, the top ones that have gone to the maybe they were like somewhere in the back burner, but now they're like in the storefront. What that has what has shifted the most perhaps.

Sure. I can talk a couple of them. And one of them gets you very much in the news. And, and that is a unique kind of challenges spiral, is working through is around regulation, around fulfilling the requirements from the regulators.

So in terms of our digital strategy, we are putting more focused on on fulfilling those regulations as well. So so when you say what has changed is, now we see a greater value in automating a lot of tanks. Even from the digital products and services perspective, which could fulfill our mandate of the regular status one.

The second is from the, from Wells Fargo perspective, which is more customer facing, is enhancement on the relevant investment management Enhancements on, On how, our, our Dignity, Schwab equivalent of both trade is our, our non traditional our discount brokerage platform. is. And what has happened is that we have put in more resources to educate the customer as well. Because at this time, we would see that they would be customers, would be getting on to a digital platform for the first time. So we have the right level of support from the call center, as well, to educate the customer. And the third is around engaging the customer most on the social media platform as well. Something which I talked about is understanding the customer journey or decision on getting input from the customers and the social media platform, based on the conversations they're having, and then mapping that to the relevant products and services. And again, all of these needs to be done responsibly and in a way which meets the regulatory standards. And also ensuring that the customer privacy are taken care of.

Very good site or just over time. But I gotta ask a quick question. The ... who is based in Belgium asked, he was asking on the on the data they share that there was that big increase in digital demands. You know, the percentages he was curious if that was Wells Fargo data or if it's industry data?

Sure. So the bigger tree, I would say the blurbs on the screen, the top 1 14 percent. That's an industry data from JD Power.

The, the other two in the bottom are in the middle of the slides, those routes bagua specific data. However, as I mentioned, the top one is from JD power.

The similar trend is observed across the industry as well, very good, again, such practical insights, both cover recovery strategy, and the practical side of a strategy execution. We really appreciate you taking the time to share this journey and experience with us at Wells Fargo, thank you very much for that.

Thank you so much for having me.

A pleasure sharing these strategies, and I hope the audience could make good use of that. And I'm happy to engage further on LinkedIn platform, as well, to answer any further questions, or even hear feedback, or any other suggestions.

Thank you very much, site. We appreciate that.

Ladies and gentlemen, as you heard say, just say, we are, you can join in on LinkedIn, and you can continue the conversation ask questions, their site will come in, and they'll answer some of your questions. So, again, thank you for being part of our journey here today. Our next speaker at the top of the hour is a leader from voice financial. And he is going to talk about the impact of covert 19, specifically in transforming how we work, engage and interact with each other, we're seeing financial organizations, and certainly, how we deliver value to our customers in the financial markets. So, I look forward to seeing all of you back at the top of the hour. For now. We'll close the session, provide your feedback in the form that's available in the webinar interface, And we'll see you again soon, bye, bye.


About the Author

more (69)-1Sayeed Sanaullah,
First Vice President, Corporate Strategy & Strategic Planning,
Siemens Financial Services.

Sayeed serves as First Vice President, Corporate Strategy & Strategic Planning at Wells Fargo. In this role, he a) leads corporate strategy and business strategy, b) develops executive presentation and communication for C-level leadership, the Board of Directors and external stakeholders/partners and c) delivers successful strategic outcomes by understanding business needs, partnering thoughtfully with lines of businesses and always driving for results that exceed expectations

He has 17+ years of leadership experience in financial services, banking, and technology industries in various functions of strategy, finance, M&A, marketing, sales, software products development, and technology promotion. He has increased profitability, generated growth, managed risk and led cultural change on multiple occasions. He has published 2 technical articles and filed a patent/disclosure. He also serves as a board member and committed leader for multiple non-profit organizations (~ $100 million total annual budget).

He is a Wharton Fellow at University of Pennsylvania - The Wharton School. He earned a master of business administration degree in strategy and finance from Washington University in Saint Louis. He also holds a bachelor of technology degree in mechanical engineering with minor in economics from Indian Institute of Technology Kanpur.  He is also a CFA charterholder.


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  • Process of Process Management: Strategy Execution in a Digital World

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