1. Introduction to mobile financial services and its implications
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The document discusses the capabilities and implications of mobile financial services. It examines case studies of leading mobile offerings around the world and new technologies on the horizon. Mobile provides opportunities for banks to reach consumers in new ways and influence behavior at the point of impact. Native mobile applications can enhance user experiences and security compared to mobile web. Examples are given of banks using mobile capabilities for tasks like deposits, payments, withdrawals, and more. The key takeaways are that mobile will be the primary customer connection, context is important, and native technology and security should be leveraged to add value for customers.
1. Introduction to mobile financial services and its implications
- 1. Developing a Mobile Proposition Section 1: Introduction to mobile financial services and its implications MICHAEL NUCIFORO Mobile Consultant, Innovator and Futurist
- 2. Section 1 – 10:25 to 11:20 Examining the capabilities of mobile: present and future • Global review: case studies of leading mobile offerings from around the world • Understanding the different features of mobile devices and their potential applications • New technologies on the horizon: the capabilities you should look out for • The security implications of mobile functionality and how these should be addressed 2
- 3. We heard it all before… 3
- 4. This time it’s different… 4
- 5. Everything aligned… 5
- 6. A Mobile economy has emerged… 6
- 7. And it’s blurring boundaries… 7
- 8. This means… ‘As banking becomes Mobile, there is a need to reach consumers in new ways, provide relevant, timely information and ultimately influence behaviour right at the point of impact’. 8
- 9. The second wave is coming… 9
- 10. Last year alone… 10
- 11. Web versus Native… Data, images and layout are downloaded every time a page is launched WEB BROWSER DATA, IMAGES Images, layout, and some copy is Only required data is downloaded once – up front requested upon page launch NATIVE DATA 11
- 12. Native capabilities… NATIVE 12
- 13. New opportunities… 13
- 14. Two Factor Security Models… Native capabilities can also enhance security: Global Unique Security Token per mobile client application instance Mobile number of the consumer Password Together, these three items provide: Something the customer has Security Token Stored in the app instance Something the customer knows Mobile Number Password/PIN 14
- 15. Castlight Health’s Mobile App Castlight utilises native technology to streamline the health insurance process. 15
- 16. Progressive Insurance Quotes Progressive Lets Customers Get Quotes, File Claims, And Pay Bills By Taking Pictures. 16
- 17. Barclays Pingit Barclays Pingit has utilised push notification reminders with deep links to functionality. 17
- 18. Capital One Sales Capital One has developed product sales journeys using adaptive design. 18
- 19. Halo Cab Ordering Halo has leveraged location technology to instantly hail a cab. 19
- 20. eBay Online Shopping eBay offers QR scanning so you get price compare in store. In the UK, 1 car is sold every minutes on eBay mobile! 20
- 21. Zeebox TV Guide Zeebox has used HTML5 to provide a rich interface across multiple device types. 21
- 22. NatWest GetCash Customers simply enter the amount they wish to withdraw and a ‘cash code’ is revealed. They then input the code into an ATM to withdraw funds. 22
- 23. PayPal Wallet PayPal allows customers to import their card details via the camera. Simple and secure. 23
- 24. Bank of America BofA offer mobile cheque deposit function. Customer can take a photo of the front and back of their cheque before submitting. 24
- 25. CommBank ‘Bump’ Customers can send and receive money by touching phones together – bump! 25
- 26. ABN Amro ‘Eurogami’ Customers can add an image, a ‘Eurogami’ or send a text message to recipients when making a payment. 26
- 27. SEB Augmented Reality The app allows customers using the augmented reality branch finder to view real time information on branch waiting times. 27
- 28. Key takeaways… 1. Mobile will be the primary digital connection for your customers 2. The future of mobile is user context 3. Leverage immediacy, intimacy, and context throughout the customer life cycle 4. Reassure consumers about their privacy and security 5. Utilise native technology where applicable 6. Focus on value add, not gimmicks! 28