Mobile Banking Trends 2014

Innovative Technology

Game-changing magic of the technology paves way for real-time access and simplicity in banking

interactions through Mobile Banking

In developed economies, banks operate in highly competitive environments, increasingly challenged to differentiate through

products and pricing

Innovative Technology

Banks seek out innovative technologies to help them build a stronger relationship with their customers and

increase customer loyalty, while controlling operational costs

Price and Infra Advantage

The infrastructure is there to multiply mobile banking usage

Well-priced smart phones and high-speed 4G in more neighbourhoods

Click with your Smart phone

smartphone camera has been a key to mobile banking’s rapid adoption

First iPhone, in 2007 shipped with 2 MP camera Recently shipped iPhone 5S has 8MP camera

Picture Pay, where consumers can pay a bill by snapping a picture of it

Digital Wallet the Challenging Part

Consumers, financial institutions, merchants, smart phone makers

still others have to be brought on board in this

game changing endeavour of phone replaces the plastic card

Smarter and more personalized

Integral to wallet adoption will be inclusion of rewards and discounts as the phone becomes the

delivery tool

A digital wallet will be substantially smarter and more personalized

than a plastic card in a leather wallet

A singular payment Application

 

Mobile wallet allows consumers to store and manage

their credit, debit, prepaid and gift cards on their smart phone

using a singular payment application

A singular payment Application

No need of carrying around a stack of physical plastic cards

swipe phone or tap the screen, a payment can be easily made

Conventional Apps

Most banks today have comprehensive suite of mobile apps that enable customers;

to check account balances pay bills transfer money between accounts receive information about new products/services, fraudulent

activities

Advanced Apps and Technology

Biometrics  fingerprints, eye scans, voice prints for user log in

authentication

Image Banking and Remote Deposit Capture(RDC) customers can scan their checks and the image is immediately transmitted to the bank

The economic factor for Banks

key reason that top banks across the globe are investing in mobility is that

 finding the economics of operating many physical branch locations

prohibitive

Geo - Mobile Banking Usage

Turkey tops in internet banking, with almost 50% participation

Age - Mobile Banking Usage

younger aged people tops in this list

Competitive Advantage

Banks will continue to invest in technologies that give them a competitive advantage

and enable them to

reach the modern consumer

We can help youCR2 Mobile Banking Solution Providers

Brought you BankWorld Software Solutions

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