Historically, financial services have been distributed through local bank branches.
2
Signed terms are sent back
Register on web page | Terms sent by mail to home address |
Funds available | Deposit can be made | Welcome E-mail sent | Back-Office sets up account |
for trading |
3
BankID has massively reduced time and friction to open an account.
98.7 % of every citizen between 21 and 50 has BankID
4
Incumbent Bank Inc.
Incumbent Bank Inc.
Incumbent Bank Inc.
Then Incumbent Bank Inc.
Incumbent Bank Inc.
Incumbent Bank Inc.
Incumbent Bank Inc.
5
Payments
Credit card
Savings account
Mortgage
Mutual funds
Stock trading
Pension savings
Now
We have to prepare for a world in which:
Mortgages are | Credit transfers between |
signed digitally. | banks are made in real-time. |
Customers have a right | Pension accounts can finally |
to data portability. | be transferred cheaply. |
Payment accounts can be aggregated, and payments initiated, by any interface.
Data from all financial products can be easily shared with third parties by customer consent.
All of this will massively contribute to reduced friction when changing financial service providers.
6
Finance is being re-bundled in different ways, by both Big Tech, FinTech and Traditional Finance…
Goldman Sachs | Curve |
7
So how is Avanza equipped to deal with the future of financial services?
8
Our basic product line
Stock trading | Mutual funds | Retirement plans | Savings accounts | Mortgages |
9
Leveraging our superior customer experience,
we become the perfect partner for product challengers
Exclusive Mutual Fund
New actively managed tech fund by renowned fund mangers TIN.
Third party savings
High yielding savings accounts with a number of partner banks.
Innovative mortgages
Our partner Stabelo delivers low interest mortgages through our interface.
10
New fund launching today!
An actively managed Small Cap fund managed by Fredrik Skoglund who previously managed the very successful Länsförsäkringar Small Cap fund.
This is a partnership with his newly founded independent fund management company.
11
Innovation is about organisation.
12
In-house development by 24 teams in a scalable team structure
Customer journey
Activate | Follow & | Find & | Transfer | Design |
Improve | get help | funds | system |
Products
Interest | Mutual | Trading | Trading | Endow- | Pension | Mort- |
data & | ||||||
bearing | funds | ment | gages | |||
Decision- | ||||||
products | insurance | |||||
support | ||||||
Business platform
BO | Become a | Being a | Cash | Pension |
trans- | customer | customer | platform | |
formation |
Technology platform
User | Data | Delivery | Open | Trading | Service | Perfor- |
interface | platform | platform | banking | platform | platform | mance |
platform | testing |
13
The typical Avanza development team
We have 24 cross-functional development teams in an organisational structure that lets them gather expertise in their domain.
Innovation, business development, and maintenance are done inside the teams.
They define their own mission and sets their own goals, which link back to the company's overall vision and goals.
Business and IT are the same thing.
Back-end
Product specialist
QA
Back-end
⚖
Product owner
UX
Front-end
Front-end
Designer
14
Mint
Our internal design system lets us move fast and still keep our look and feel harmonised across features and products.
Progressive Web Application (PWA)
We have chosen this technology to allow us to be organised in the way we want and at the same time serve 3 different platforms (iOS, Android and Web).
15
Innovation is about customer focus.
16
We innovate together with our customers.
Our customers can sign up as test users to early releases of new functionality and provide feedback.
We also meet with hundreds of customers for interviews and user tests each year.
And of course, tens of thousands of twitter feedback, app reviews and customer service messages are also a vital part of the development feedback.
"Feedback Buddy"
Our feedback system will keep our development teams close to the customers.
Beta experience
Customers can sign up
for beta functionality inside the app. This is an example of a beta experience for goal savings functionality.
17
She wants a job to get done that an advisor is one of many solutions for.
What jobs does she hire an | I want an advisor |
advisor for? | |
How can we solve them | |
digitally? |
UX | Customer |
18
Innovation is about culture.
19
Self selection
During our re-org to the current structure, all developers, designers and UX could chose which teams they wanted to belong to.
20
Why?
How?
What?
Create a better future for
millions of people
Cheaper, Better, Simpler
The best tool to help you succeed
with your personal finance
21
Brainy Days
Internal hackathon-style event that is held twice a year for 3 days. Everyone in the organisation can pitch an idea, and create temporary teams to work on something they would like to see.
Brainy Days 2019
22
Brainy Days
Internal hackathon-style event that is held twice a year for 3 days. Everyone in the organisation can pitch an idea, and create temporary teams to work on something they would like to see.
Brainy Days 2019
Brainy Days from 3 weeks ago
23
Brainy Days
Internal hackathon-style event that is held twice a year for 3 days. Everyone in the organisation can pitch an idea, and create temporary teams to work on something they would like to see.
Feature to be released this Friday
Happy campers on twitter!
24
Our innovation success factors
Customer
OrganisationKultur Kundfokus InnovationCulture
focus
25
Currently taking 19.4 % of net inflow to savings market (with 5.4 % market share)
25 %
20 % | 19.4 % |
15 %
10 %
5 % | 5.4 % |
0 %
Q1/13 | Q3/13 | Q1/14 | Q3/14 | Q1/15 | Q3/15 | Q1/16 | Q3/16 | Q1/17 | Q3/17 | Q1/18 | Q3/18 | Q1/19 | Q3/19 | Q1/20 | Q3/20 |
Avanza's share of Swedish savings market | Avanza's share of net inflow to Swedish savings market (rolling 12 months) | |||
26
Still a challenger in the Swedish market
5.4 % | 0.6 % |
Swedish savings market | Swedish mortgage market |
9 000 billion sek | 3 600 billion sek |
27
Sweden's most satisfied savers - 10 years in a row!
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Disclaimer
Avanza Bank Holding AB published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2020 15:18:02 UTC