Potential of Mobile Technologies in Financial Services · Potential of Mobile Technologies in...

Potential of Mobile Technologies in Financial Services13th July 2011

Nitin Agrawal – [email protected]

2© COPYRIGHT 2011 SAPIENT CORPORATION | CONFIDENTIAL

Agenda

Topics Duration

Mobile Applications in Financial Services•Mobile device, user interaction possibilities•Mobile Financial Applications

15 mins

Making mobile strategy successful in FS World•Making right application choice•Making right device, technology choices•Managing technology challenges

15 mins

Sample Retail Banking Application 10 mins

Q & A 5 mins


Future of Mobile Applications in Financial Services


Enabling more innovation and usage…

Mobile user, device interaction possibilities


• Retail Banking

• Mobile Walleto M-Pesao PayPal BUMPo Contactless Payments

• Interactive marketingo Location/mode based information

about surroundingso QR-based Interactive advertisements

Mobile Applications in FS


• Tablets are enabling heavy-duty applications!!!o Bigger screeno Fasto Richo Collaborativeo Portable

• Financial Advisoryo Wealth Managemento Retirement planningo Insuranceo Mortgage advisor

• Self-service toolso Stock tradingo Institutional Research, data and

analyticso Financial Statements Analysiso Collaboration

Mobile Applications in FS


Making Mobile Strategy Successful in FS World


are high performing &

secure

are available anytime

are reliable and made in high

quality

VERY intuitive

More “touch/select”,

less “typing”

Solid Data Visualization and

Information Architecture

Integrated with other channels

Not a “scaled-down”

website

Good mobile applications’ characteristics


Making right device, technology choices

• Is Reach your goal and business case is evolving? Mobile Web Apps

• Is Stickiness your goal and business case has matured? Native Apps

• Does app require heavy-duty data processing/analytics/visualization? Tablet Apps

MAINSTREAM TECHNOLOGY OPTIONSTechnology/Platform Positives Deltas

NAT

IVE

APPL

ICAT

ION

S Cocoa, Objective C

+ Always leads UE "paradigm shifts"+ Hardware, OS, programming env. all by Apple+ Good security, UI model+ Good IDE support for app. development

-More sophisticated dev. skil lset required – tedious development- Doesn't allow plug-in based RIA applications (flash, si lverlight)- Apps need to be deployed through Apple AppStore impacting agil ity

Java-based SDK Dalvik VM featuring JIT

+ Wider userbase coz of pricing+ Open-source - wide community to accelerate rollout of new features+ Allows Flash and Silverlight based RIA

- Highly fragmented. 160 odd devices- Not-so-powerful IDE- Uncontrolled download of apps. leads to security issues-Compatibil ity across devices and different versions of androiddifferent OS for phone and tablets

.NET/Sliverlight+XNA

+ Good IDE, skil lset easy to find+ Strategic partnership with Nokia has put it sl ightly ahead of RIM in terms of Developer mindshare+ Uses "l ive ti les"

-Late to catch the bus-Small user base leading to ROI concerns

MO

BILE

WEB

AP

PLIC

ATIO

NS

HTML5/CSS3/jQueryMobile,PhoneGap

+ High agil ity - ease and speed over market opportunity and customer demand+ No limitations w.r.t. upgrades+ Provides for host of features l ike offl ine mode, multimedia, fi le-access, geo-location, graphics, storage etc. Gap is further reduced by jQueryMobile/DojoMobile + PhoneGap combine

-Look'n feel and performance is not as great as native applications- Some OS are not yet supporting HTML5 browsers- Browser frameworks are sti l l evolving- Design patterns for mobile web development are evolving


Managing Technology Challenges

Challenges Ways to Manage

Securing data on device •MDM solutions: Good Technology, Odyssey, SOTI• Automatic conditional, scheduled, on-demand fading• Encryption algorithms like AES and ECC for removable storage

Securing data transfers Server-distributed SSL certificates

Securing high risk transactions

•2FA tokens – 2 Factor Authentication – H/W, Mobile, SMS•3D Secure•SSL certificates

Device sizes, form factors Use native controls as much as possible

Limited battery backup Reduce server polling by using push notifications

Limited native UI controls Develop custom controls catering to different application genres

Support for data availabilityin offline mode

Cache/save frequently on the device locally


Retail Banking Application Demo


Mobile Banking Application

• Concept application demonstrating how far HTML5, CSS3 and OOJS can be pushed without loosing on interactivity

• Behaves very much like a native applicationo Touch

o Custom control library mimics native controls such as navigation items, tool bars and pickers (wheel)

• Built using custom OO JS framework

• Design Patterns Leveraged:• Single-page application with a

manifest footprint of 200k

• Ajax calls - JSON-based data-only server calls

• Minimum usage of images -leveraged CSS3, Canvas wherever possible

• As mobile processors are too weak, animations, fade-in fade-outs were managed using Webkit CSS transition


Q&A


Thank You!

Potential of Mobile Technologies in Financial Services · Potential of Mobile Technologies in...

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