Banks, Technology, Financial Services, Fintech & Digital (video)

Digital IQ Index® - Financial Services:

Since the introduction of the ATM in 1969, banks have leveraged technology to reduce cost and the friction between financial services and the end consumer.

In 2015, “FinTech” startups took in $19 billion in investment capital, extending the scope of the sector beyond payment platforms to include new lending tools, personalized investment services, and wealth management solutions.

Jaded by the financial crisis, 51 percent of millennials demonstrate a willingness to experiment with non-traditional providers, underscoring a potential threat to the status quo.

Traditional Financial Service providers are following suit with their own investments in the FinTech arena, but have been slow out of the gate.

Only half of Index brands support “Get a Quote” or “Find an Advisor” tools, putting the onus on prospective consumers to initiate next steps.

And while almost all Index brands engage customers on LinkedIn, 16 percent of brands do not maintain an active presence on Facebook.

Bank of America sets the gold standard in L2's inaugural Digital IQ Index®: Financial Services. The “genius” brand proves unique in leveraging SEO and SEM investments to ensure elevated visibility across top-of-the-funnel keywords, and investments ahead of the curve to provide a best-in-class experience on a smaller screen.

In addition, Bank of America integrates past campaigns—including "Better Money Habits" and "Business of Life"—into emerging platforms ignored by most peers, engaging Millennials where they live.

This study attempts to quantify the digital competence of 70 financial service brands operating in the US market. Members can download the full report at L2inc.com. Download the report here. Video above published Nov 17, 2016, by L2inc.com.


Source of infographic: Statista - overview of the current state of the global fintech market (Jan. 7, 2016).

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Adam Grant: Be Original and Make Big Ideas Happen, Start With The How

How to Be Original and Make Big Ideas Happen by Adam Grant (a16z Podcast)

Steve Jobs to Meredith Perry to Elon Musk--original thinkers, entrepreneurs--"do a lot of different things to move the world to their visions. And many of those things (and traits) are counterintuitive, such as … Embracing procrastination. But there’s a catch: It’s about being the just-right amount of procrastinator, expert, or confident. There’s a curvilinear relationship between too much and too little. There’s also some surprising findings about why NOT to “start with the why” but with the how. Because sometimes the how is much more believable than the why. Especially when it comes to getting people to engineer things from ubeam to SpaceX. Or to really being able to tell the difference between communication vs. confidence vs. competence.

"Ultimately, it’s all about being flexible, argues top Wharton management professor and New York Times columnist Adam Grant in his new book Originals. So how do we strike the just-right balance — whether making an entrepreneur or just trying to raise more creative, productive kids? Is the answer perhaps to immerse them in sci-fi books and video games? Well, J.K. Rowling could be the most influential “original” alive, argues Grant in this podcast… but not for the reasons you think."

Adam Grant - @AdamMGrant - @Wharton professor. Author: ORIGINALS, GIVE AND TAKE. @NYTopinion writer: work & psychology

Andreessen Horowitz (domain: a16z.com) is a Silicon Valley based venture capital firm. Founders: Marc Andreessen and Ben Horowitz.

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