By@SimonCocking great interview with Fergal Coburn, Head of AIB Digital Products and Payments. We’re delighted to have AIB on board as a main sponsor for the Fintech 20 Ireland awards and event on October 26th. For more information about entering your company see here and to attend the event itself October 26th, at Moores Auditorium, UCD book tickets here.
— Irish Tech News (@Irish_TechNews) September 19, 2017
What is your background briefly?
I graduated in Electronics Engineering from Trinity College going on to work in Engineering for 10 years in the Oil & Gas exploration and Telecoms industries. Entered Banking on the technology side of the business moving into the business in a transformation role, leading the transformation of AIB’s Direct Banking businesses. Now leading the development & delivery of all non-physical banking channels in AIB (including Digital Channels, Cards & Payments and Digital Ecosystems– all underpinned by a digital innovation & investment strategy)
Does it seem like a logical background to what you do now?
Not a traditional background for banking – but, banking is increasingly not traditional anymore. Digital technologies are now pervasive across virtually all aspects of our lives – therefore, having a pedigree in that space is actually a very logical background. The combination of traditional banking values of trust & advice delivered through seamless digitally enabled convenience & expertise will increasingly differentiate winners & losers.
— Siobhan Cody (@SMC_Cody) May 25, 2017
1 min pitch for what you are working on now?
‘Extreme Customer Centricity’ – using technology to create frictionless experiences to enable direct personalised engagement with our customers in the most useful way for them. Easy to say ! – but, many strands of activities including new digital engagement platforms, leading edge authentication solutions, new UX designs to enable new advice & product exploration & delivery and reaching into adjacent value add services to enrich the overall experience of our customers.
What work and developments are done by the teams within AIB’s Digital Products & Payments?
Our department is responsible for the strategy & development of AIB’s online banking, payments and cards businesses. We’re also responsible for the commercial development of Business API’s as part of the Bank’s strategy to be at the heart of our customers financial lives.
We have seen a lot of innovation in the Fintech sector, how is AIB reacting to new challengers and demands from the market?
Today we have a myriad of disruptors across all aspects of business and it’s coming to every industry. Specifically, in Banking we can see global players positioning themselves as “hubs” or centres of advice, guidance & comparison – demoting traditional providers of products & services to being just commodities obtainable for the lowest cost. Also, on specific customer pain points we can see thousands of “Fintech disruptors” designing, building & delivering excellent customer experiences leveraging the latest technology innovations to deliver ‘delightful’ experiences for consumers.
Over the last few years, in the midst of this significant shift in customer behaviour, AIB has focussed on understanding this shift and has reinvented itself by “anchoring” customer centricity in the core of our culture which is centred on a purpose of “helping our customers to achieve their dreams & ambitions”. This has involved moving from the traditional vertical/product silo driven model – to a new model driven by what the customer wants rather than by what they can get. So combining this understanding of a modern digitally connected consumer with AIB’s aligned customer centric organisation we are focussed on collaborating within & outside our industry to build next-generation digital financial services.
AIB works with a range of industries, in many ways we are seeing a convergence of digital solutions for each of their needs. Question, what can we see coming from AIB in the near future?
Complete, Consistent & Connected are themes of what Customers can expect to see from AIB in the future. All of the important things our customers want to do with AIB & when they want to do them will be available and optimised for all the touchpoints they have. A differentiated and increasingly frictionless experience will be part of our brand and access to AIB’s products and services will increasingly grow beyond AIB owned channels into the wider aspects of our customers lives