The Future of Banking, Shopping & Travelling

Within BT Enterprise

BT Enterprise is looking to capture bold ideas to increase their likelihood of success in an uncertain future.

Summary

Background

BT operates as a single business, made up of different organisational units. They have four customer-facing lines of business: Consumer, Enterprise, Global and Openreach, supported by their internal service unit, Technology. This proposal focuses on Enterprise.

BT Enterprise provides communications and IT services to around 1.2 million businesses and public sector organisations in the UK and Republic of Ireland, and leads the wholesale telecommunications market, providing network products and services to more than 1,400 communication providers (CPs) operating in Great Britain. BT have three brands for business: BT, their primary brand; EE, their mobile-centric brand, primarily used for SME and Corporate customers; and Plusnet, their value-focused brand for SMEs.

But they can’t sit still. BT's market is changing at an unparalleled rate, and competitive pressure is growing due to challenging market dynamics and the emergence of new competitors. 

The UK Telco market is growing below GDP (1% p.a. from 2014-17) and decline in legacy services is being offset by growth in IP services and new revenue streams. There is increasing pricing pressure due to lack of differentiation, as well as CIO budgets being more restricted.

In the competitive landscape, the FAANG+ and platforms are evolving; with 7 of the 10 largest global companies being platform-based. Also, unlicensed spectrum opens opportunities for lower-cost players.

Given this broader market context, BT have set out six key priorities for Enterprise to deliver differentiated customer experiences and sustainable growth in value:

  1. Maximise their market reach
  2. Provide straightforward and reliable customer experience
  3. Lead the migration to IP
  4. Innovate converged products and new propositions
  5. Leverage the UK’s best networks
  6. Simplify operations and optimise sales

Challenge

Objective

BT help UK businesses to unlock their digital potential. To enable them to help customers thrive in the 21st century, they need to disrupt BT Enterprise.

As part of this challenge, BT Enterprise is looking to capture bold ideas in three key themes to increase their likelihood of success in an uncertain future. 

Scope

Enterprise only (BT’s UK & ROI B2B line-of-business).

Themes

  1. The Future of Banking – some ideas for discussion: How and where will people save and access their money 5-10 years from now? Will digital-only banks prevail? Given current tech trends (e.g. blockchain), will banking be decentralised? What will be the future expectations and pain points for BT's customers?
  2. The Future of Shopping – some ideas for discussion: How and where will people find things to buy 5-10 years from now? Given current tech trends (e.g. AR, VR, drones), what will shopping look like? What will be the future expectations and pain points for BT's customers?
  3. The Future of Traveling - some ideas for discussion: How and where will people travel for work and for pleasure 5-10 years from now? Given current environmentally conscious trends, how will the sector evolve? What will be the future expectations and pain points for BT's customers?

Desired Outcome

Based on the three themes, define 1-3 scenarios of how our world could look in 2025-2030, and how BT Enterprise fits in with potential long-term opportunities/solutions.

In essence, blow our mind!

What’s in it for you?

A successful collaboration could mean forming a partnership/joint venture to co-develop the idea and its path to implementation.

These are global challenges and BT are willing to collaborate with both individuals/freelancers and other industry participants/universities etc.

If you are up for the challenge and would like to help shape the future of BT, please click “Apply” to submit your ideas/expertise to the Network.