Last 20th February, 2015, Juan Pedro Moreno, President of the UAM-Accenture Chair in Economics and Management of Innovation, presented a new edition of Breakfast with Innovation entitle “Everyday Banking. Digital Journey”, at the Faculty of Economics and Business at the Universidad Autónoma de Madrid.
Juan Pedro Moreno, former student at the UAM, is currently a member of the Executive Leadership Team for Accenture’s Financial Services Business. He is responsible for the global vision, strategy and investment of the company; coordinating Accenture efforts that involve multinational bank and managing Accenture’s relationship with its joint venture partners. He joined Accenture in 1989 and has built his career in Financial Services. As Global Client Account Lead since 2006, he grew his client to Mega-Diamond Client status in 2012.
Juan Pedro Moreno highlighted the wide range of opportunities that “Digital Revolution” offers to business development. New digital technologies enable the integration into one process, activities that until now were independent, such as shopping, entertainment, teaching, exercising, travelling, paying, transports, etc. That integration means a great business opportunity because, on the basis of consumer behavioral patterns produced by Big Data, firms can develop a proactive attitude to identify potential emerging needs of their clients, and offer them services or supplies more in line with their actual condition, away from the traditional marketing methods.
Digital Revolution is changing customer satisfaction standards because, against “traditional customer” who values only what acquires, the “digital customer” values what he/she experiences when acquiring. For this reason, Juan Pedro also believes that “Digital Revolution” comes with a great change in consumption habits, what demands an increased interconnection and collaboration between companies from different activities or sectors.
Finally, he raises a new trend driven by Digital Revolution which is the active participation of society in valuing the quality of products and services via Social Media. Those networks are now the tool that has turned up Internet in a worldwide forum of comments and ratings, forcing firms to take care of their digital reputation and to work in even more competitive environments.
Juan Pedro Moreno considers this trend to be “crucial” for the banking sector, which needs to change its marketing techniques to “attract customers” to its products, “anticipating” and offering them other services related with their activity, even though they are not seeking them.