Mobile Banking - much more than an iPhone App, February 2013
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frank-schwab -
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Summary The number of banks in the US and in Germany halved between 1990 and 2012. Traditional banking is under pressure by at least 4 mega trends in banking: Increase of regulation, legacy technology, consolidation and changing customer behaviour. By 2016 the number of Internet capable mobile devices will reach more than 4 billion devices globally and smart phones are already used always and everywhere. The future is always here – it’s just not evenly distributed yet. You can see this if you take a look at digital natives, the usage of phones in Africa, Google wallet and Square. For banks it will become critical to position themselves in the world of customer experience much earlier. The MyPrivateBanking Mobile Applications Report 2011 gives banks on average a score of 35 out of 100 points. Major critiques are “only simple basis services”, “mainly useless information”, “available only for iPhone” and “security issues”. A look at current mobile banking offerings does not disprove the report. They are mainly static, text based and lack of visual experience. But you can think different about mobile banking. Actually you can build native apps for all platforms that are highly dynamic and provide an experience, e.g. by making use of augmented reality technology embedded in customers’ life. Banks may be able to win back the car loan business at the point of sale and embed mobile and tablet technologies in their sales processes. Commonwealth Bank of Australia’s “Kaching” and moven are examples of what can be done.
Transcript of Mobile Banking - much more than an iPhone App, February 2013
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1990 2012 2000
72% Watching TV
Playing Video Games
Listen to music
Reading newspapers
Reading books
Internet
Smartphones are used always and everywhere
Sources: The Mobile Movement Study, Google/Ipsos OTX MediaCT, Apr 2011 Base: Smartphone Users (5013) Q. In general, which of the following media-‐related acOviOes do you do while also using the Internet on your smartphone?
Digital Natives
Source: MyPrivateBanking – Mobile Applications Report 2011
Mobile Banking: On average banks score 35 out of 100 points
Bank Max score = 100
Deutsche Bank 50
Caisse d´Epargne 50
Bradesco 49
DBS Bank 47
ING Group 47
Citibank 46
Société Générale 46
Uni Credit 45
Banco Bilbao 44
Credit Agricole 44
Only simple basis services Mainly useless information
Available only for iPhone Security issues
Text based
Static
Lack of visual experience
Dynamic
High visual experience
Monthly expenses
18 €
53 €
5 € 12 € 17 €
23 €
Set budget for daily needs Control your status with your iPhone
Car Dealer
moven is betting BIG on a mobile future for banking
http://www.moven.com
