Innovation & Business Development Consultant
Ellerines Holdings Ltd
Total years of experience :31 years, 3 Months
06/2012 - current
Innovation & Business Development Consultant:
1. National Credit Act compliant credit model for motor vehicle Pawn-lending Business for one of largest SA Auction Houses
- NCA compliance;
- Process & risk improvements
- New pricing model
2. Ellerines Holdings Ltd - Business Development initiatives for retailer: - Implementation of Mobile/Cellular business into retail brands. Designed and implemented joint business with Virgin Mobile South Africa to enable Virgin to enter new market
o Network Operator agreement
o Business Case /Financial Model and Board packs
o New cellular COA underwriting model
o Customer Value Proposition - postpaid, prepaid, data, VAS services
o System solutions design and UAT
o Cellular embedding into multiple retail brands' distribution sales processes
o Cellular model for in-store displays, kiosks, display handsets into 800 stores
o Recharge services (POS, mobi, eCommerce) development and integration
- eCommerce payments model for retailer
o Multiple Bank/Card merchant acquiring relationships
o Credit, Charge, Debit Card & credit check-out payment options
- Design and development of Multiple Brand mobi-loyalty scheme
o Strategy and business model design
o Business case & customer value proposition development
o Partner selection and Agile development
- Design and development of in-store customer transaction & payment services
o Business case and vendor sourcing
o Footfall generation
o Transactional & prepaid services integration
- Design and development of new cash- handling model in-store
o Integrate client self-service payment solution with in-store teller model
o Business case and Model design/testing
- Modeling various potential partnerships/3rd party alliances to grow value
o Wi-Fi hotspot model
o Free + premium on-line content model
o Domestic & International Money Transmission
3. Business Development Consultant for Touch Media Information Technologies (TMIT)
- Customer self-service vending devices (for recharge, prepaid services, payments)
- Alternative 'white label' financial wallet technology solution
- Design and development of solution delivery propositions into various industries: o Big box and FMCG retailers, Banks, Cellular network Providers
4. African Bank Investments Ltd/Ellerines Holdings - disruptive innovation opportunities
- Identify, design and develop new disruptive opportunities for Group (African Bank Investments Ltd www.africanbank.co.za owns largest furniture retailer in South Africa) employing new technology, process to drive increased customer acquisition and/or increased asset growth. Model to limit any resource call off existing core businesses.
- Opportunities evaluated and considered: o New Cellular/Mobile Business (MVNO)
o Mass Market Insurance
o New short-term + payday credit model
o Retail Money - disruptive transaction account and consumer lending model
o P2P lending model linked with employee schemes
o Retail rental model + seconds
o Virtual Mall and other 'store of future' initiatives
5. African Bank - various strategic consulting assignments
- Leveraging credit underwriting for cellular/mobile
- Customer Contactability modeling for collections, service and sales
- Credit cash disbursement CVP enhancement and linkages with MPESA South Africa
Entrepreneur: 1. Establishing Innovation Bytes (Pty) Ltd to connect businesses and individuals to new ideas and innovation worldwide.
HIGHLIGHTS OF EXPERIENCE
• Mobile/Cellular services platforms, partnerships, products and services (including cellular packages \[prepaid, contract & VAS\]; cellular sales distribution & servicing; mobile/cellular services - banking, lead generation, wallets, money transmission, mCommerce and loyalty services; across various platforms - SMS, USSD, WAP, WIG, wi-fi and HTML5. Also implemented services across normal network operator and virtual (MVNO) platforms.
• Strategic consulting projects and initiatives changing business models, transforming businesses, identifying disruptive opportunities, establishing market opportunities for developed and developing markets/segments.
• Full fee and funds pricing for credit, collections, and other services - pricing principles, strategies, mechanisms, communication design, development and implementation (why to price, how to price and when to price). This includes deposit and investments price setting, as well as payment strategy performance.
• Insurance services design, development and implementation (ASB and level term products; protection and yield enhancement opportunities; funeral insurance; endowment products)
• Retail banking/Retailer customer value proposition design, development and implementation (covering the full value chain from origination, sales, activation, fulfillment, usage, retention and risk management).
• Retailer & Retail financial product and services design, development and implementation (credit products/services; credit & debit cards; transaction products/services; money transmission products/services; payment products/services; foreign exchange products/services; insurance products/services; operations improvements \[paperless services, instant product issue, embedding services, pricing leakage\]; collections products/services; footfall services; new merchandise partnerships; cash management optimization. Some recent examples of initiatives include:
o Cellular business model for Retailer along MVNO \[Mobile Virtual Network Operator\] constructs. Designed & implemented partnership with Virgin Mobile South Africa - sharptalk branch launched.
o Mobi/cellular based loyalty initiative for Retailer \[XTRA model\]
o eCommerce payment model/platform for multiple Retail eCommerce sites
o Client self-service and store cash services
o Cellular services for African Bank = over 250k active users, approx 400k balance enquiries
o InSeconds mobi credit quote = over Rm250 in credit originations per month
o Consolidation Loan = over Rm750 in credit disbursed per month
o Retailer credit = around Rm80 in additional credit disbursed per month
• Recruitment, staff management, performance management, employee diversification, budgets, KRAs for both development and execution teams
• Product management dashboards and drivers
• Channels for products/services and associated services delivery - ATM, internet, Call Center, cellular (USSD, WAP, Mobi, WIG, Apps - basic, feature and smart phones) as well as integration with retailer channel (embedded with retail product sales processes + Call Center sales/fulfillment and support)
• Leading partner integration for joint developments (retailer services; co-branded services; WASP and Network providers; technology companies; etc)
03/2007 - 05/2012
Occupation/duties
Head New Product & Process Research and Development at African Bank (ABIL Group)
Permanent Director Level position in the Financial (Banking) sector in Midrand, South Africa
Banking/Financial Services: Business development
Position reported to Senior Executive responsible for all front-end business activities.
To research and develop credit products, new business models, channels and propositions for credit market in SA, implementing a customer focused approach to credit needs. Integrate linked product development that grows value to ABIL Group (Bank and Retailer Divisions) and locks customers into deeper relationships with the Group. Focus on Bank and Retailer credit arena product research and development, and any complimentary developments that may enhance the overall customer value proposition (CVP)
African Bank Investments Limited (ABIL) Group consists of: - African Bank (around 700 branches/outlets - 250 in stores)
- Ellerines Furniture Retail operation (12 retail furniture brands covering market spectrum - 1200 outlets)
Key responsibilities included:
- Developing new CVPs for unsecured, personal credit markets; insurance cover (credit life, term life, PA, Funeral) for both Bank and Retailer. CVPs cover customer needs; product origination, sales, fulfillment and activation processes, as well as customer usage, retention and risk management. A key element to credit is collections and the core collections proposition is to differentiate between bad luck versus bad faith customers and to rehabilitate bad luck customers to normalized credit. Holistic credit value propositions developed for both Bank and Retailer.
- New mobile/cellular channels (SMS, USSD & Mobi) created for customers to perform banking services, as well as multi-sided lead generation & sales platform (for bank & retailer)
- Products developed in Retailer included cash top-up (CTU - generates around Rm50 in additional credit sales per month), Stand-alone credit; and check what you can get (CWYCG)
- Products developed in Bank included a starter credit card product for higher risk/previously non-served segments; mobile/cellular channels (USSD and mobi sites); CWYCG/InSeconds lead generation (generates around Rm300 p.m. in credit sales); Balance transfer/credit consolidation product (generates around Rm800 p.m. in credit sales)
Reason to leave Looking for new opportunities and time to grow new business ideas.
02/2006 - 02/2007 Partner Banking Practice at Genesis Analytics
Permanent Partner Level position in the Management Consulting sector in South Africa
Occupation Management consulting: Strategy Consulting
Duties
Partner Genesis Analytics Banking practice (Genesis Analytics Consulting Firm)
The Banking Practice specialising in advising banks/MFIs/Donor Agencies operating in emerging markets on business strategy, with a particular focus on the application of technology to emerging retail market segments and the design of client value propositions.
Key projects undertaken include:
- IFC MSME initiative to source funding for IFC and provide technical analysis to financial institutions on MSME strategy and product development (Multi-country visits, multi-bank discussions)
- FSD (Financial Sector Deepening) Kenya: Project with Kenya Woman's Finance Trust (KWFT) to consider transforming into a licensed financial institution and expand into deposit-taking activities. KWFT service MSME Business women's needs only via Group lending approach.
- Rural Speed USAID programme on non-branch & remote/mobile banking solutions for unbanked in Uganda.
- Advising large banking group in South Africa on entry strategies to New markets in Africa/Internationally (Nigeria, India)
- Establishment of Home Finance entity in Saudi Arabia together with Deloitte Consulting.
- Business banking proposition for largest bank in Oman.
- Business banking proposition for largest bank in SA.
- DFID technology programme review with small mineworker focused Bank in South Africa.
- Review of small mineworker focused Bank in South Africa product set and approach to migrant worker services.
- Banking Association of South Africa: Evaluation of South African Banking Sector achievements in reaching and extending services to under and unbanked segments as set out in the Banking Charter. This covered all transactional banking providers in South Africa and included full review of product/service and channel reach in the country. Also, potential of alternative channels evaluated in meeting low income customer needs for financial services.
Reason for leaving Approached by African Bank
05/2002 - 10/2005 Director Retail Transaction & Deposit Products at Stanbic Bank (Africa) subsidiary of SBSA
Permanent Director Level position in the Financial (Banking) sector in Johannesburg, South Africa.
Banking: Business Development and Product management. Transactions, savings, investments, credit/debit cards, foreign exchange, money transmission, pricing across Groups Retail Banking operations in 13 African Countries.
Occupation Duties
Responsible for transaction and deposit products for 13 African countries (excl South Africa) - a portfolio of approx R9bn in liabilities, R1bn in fee and commission income, 2 million accounts and 1, 6 million customers. Retail customers included all individual customers and MSME market segments. MSME markets include all business customers with the exception of large Corporate and Government/parastatal entities.
Key initiatives implemented include the following:
- Easy streamlined account opening (Process across all markets and including KYC)
- Instant banking (including instant ATM/debit card issue in all markets)
- Teller automation (TVT) get rid of paper at front-end
- MAESTRO debit card design, licensing and issuing in 2 countries
- Visa debit card design, licensing and issuing 5 countries (set-up for further 6 countries)
- ATM (Cirrus and PLUS) acquiring in 7 countries (set-up for further 6 countries)
- American Express travelers cheque issuing 13 countries (and aligned SA market to change from Thomas Cook)
- Retail fee and funds pricing on all transaction and deposit products in all 13 markets
- Group money transmission (MoneyGram into SBG - SA and Stanbic markets)
- Performance management and MIS implemented for area
- Growth liabilities over 30%
- Growth in fee and commission income by over 100%
My responsibilities in all countries included:
- Cheque accounts
- Transmission accounts
- Savings accounts
- Deposits (Call, Notice, Fixed)
- Retail foreign exchange
- Money Transmission
- ATM/ Debit cards/ATM acquiring
- Credit cards and POS
- Fee and Funds pricing on above services
Reason for leaving Voluntary severance to become strategic consultant (Stanbic Bank Retail integrated into new Global Retail model)
01/1998 - 05/2002 Director New Product Development (Retail Banking) at Standard Bank South Africa
Permanent Director Level position in the Financial (Banking) sector in Johannesburg, South Africa.
Occupation Banking: Business development and Product Management
Duties
Director New Product Development (Retail Banking) Standard Bank of South Africa
Responsible for new product development and existing product enhancement for Standard Bank retail banking (covering MSME and individual market segments) . New businesses incubated at this time were approximately Rm250 in value. The role embraced 3 core elements/processes = Think (design new opportunities); Make (develop and implement new opportunities; and/or enhancements to existing services); and Grow (launch and manage new businesses where no product owners exist and grow these for hand-over into core business when developed)
Examples of initiatives included:
- New mobile channels (WAP, WIG, Cellular services)
- New transactions to ATM machines (recharge, prepaid services, select and pay)
- Lending automation (overdrafts via internet, phone, and Cellphone for instant access off preapproval platform)
- Loan account development for small businesses
- Omniloan (single bulk loan built off Home Loan/Access Bond platform for High Net Worth customers)
- ABIL (Microlender - African Bank) JV developments JV contracting, Loan proposition, repayment services - enhanced debit orders and preferred debit order collection mechanisms)
- Debt collection systems for microlenders - Nupay
- Savings facility developments (Money Market accounts)
- Insurance product developments (funeral plans, loan settlements), focusing on bancassurance services for SMEs/individuals
- Inter-Bank activities/meetings (Banking Association 'MZANZI' initial design)
- Retail payment strategy (full strategy across all money in/out instruments and services, and design of cross-bank bilateral agreements for payments)
- Explored Nigerian Market entry strategy for SBSA
- Explored Brazilian Market entry strategy for SBSA (programme chaperone for 30 senior bankers on Brazil action learning trip)
- Managed up to 30 staff.
Reason for leaving Offered position in Stanbic Bank
06/1995 - 12/1997 Senior Manager Product Department at Standard Bank South Africa
Permanent Senior Management Level position in the Financial (Banking) sector in Johannesburg, South Africa.
Occupation Banking: Business development and Product Management
Duties
Responsible for the management of all retail banking product issues across the customer business segments, as well as lead on development of new products/services for the customer segment groups. This included:
- Pricing coordination and management of Funds pricing (transaction and product pricing support to segment units)
- Product economics and measurement
- Product development for customer segments
Specific accomplishments during this time included:
- Pricing management direct P&L impact
- New transfer pricing mechanism
- Lending rate change system
- Loan protection insurance plans
- Smartcard strategy/approach/initialization (for chip EMV card + industry standards for cash purse cards)
In addition I was group project lead on Wealth Creation strategy project with McKinsey Consultants (SBSA resource managing consultant project that led to design and development of SBSA's Bancassurance strategy)
Reason for leaving Given NPD to set up and run
In House leadership development programme
Certificate at University Manchester, Templeton Oxford in Manchester, Oxford, United Kingdom Subjects Leadership programmes - residential
Banking 1, 2; Financial accounting 1, 2; Commercial Law 1, 2; Economics 1, 2; Financial markets; Negotiable instruments
Business Economics 1, 2, 3; Economics 1, 2, 3; Accounting 1, 2; Commercial Law 1, 2; Math’s and Stats 1; Economic History 1; Business Communication 1; Sociology 1