Visible Banking - Key trends in Online & Mobile Banking
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Visible Banking - Key trends in Online & Mobile Banking

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Visible Banking - Key trends in Online & Mobile Banking Visible Banking - Key trends in Online & Mobile Banking Presentation Transcript

  • Christophe Langlois, Visible-Banking.com Athenes, Novembre 2008 Internet & Mobile Novembre 2008
  • Online Financial Services
    • Monitoring, Trendwatching, Measuring
    • Social Media to Drive Customer Advocacy
    • Value Added Services to Drive Retention
    • Online Security: a Layered Approach
    • Online Award 2008: Winner & Nominees
    • The 4 th Generation Internet Bank
    • 7 Killer Apps for Web 2.0 Behind The Firewall
  • Listen, Watch Trends, and Measure www.Visible-Banking.com
  • Wells Fargo 2.0: Create Emotions www.Visible-Banking.com
  • SNS Reaal 2.0: Customize & Reach www.Visible-Banking.com
  • Useful Services, the Best Retention Tools www.Visible-Banking.com
  • NyKredit: Winner, Online Award 2008 1 st www.Visible-Banking.com
  • NyKredit’s WebDesk 2.0 • Dramatic increase of the conversion rate • Leads up to 500% • Sales up to 400% Success Measures • WebDesk Phase 1 -> Q1 2007 • WebDesk Phase 2 -> Q2 2008 WebDesk 2.0 www.Visible-Banking.com
  • Swedbank’s 4 th Gen. Internet Bank • 98% of clients migrated voluntarily in only 2 months • Growth speed of online sales • Positive feedback from clients and employees Success Measures
    • • Customer Base
    • Customer offers and personalization
    • Customer “comfortability”
    • Security
    4 Key Areas www.Visible-Banking.com
  • Bank Hapoalim’s PFM Budget Tool
    • • Drive Online Banking Adoption
    • Attract Business from Duo Customers
    2 Key Benefits “ Why not make customers pay for Online Banking?” www.Visible-Banking.com
  • Can You Spot the Difference? Educate your customers: they need to act responsibly! www.Visible-Banking.com
  • IB Security Framework: a Layered Approach www.Visible-Banking.com
  • 7 Killer Apps for Web 2.0 “BTF”
    • Internal Monitoring and Intervention Systems
    • Using Web 2.0 internally to “blow up” the company
    • Merging of Internal apps & external collaborative environments
    • Step-By-Step replacement of current “dinosaur” infrastructures
    • Standardization of all user experiences (internal & external) connecting everybody to everybody (when allowed)
    • Replacing many traditional “workflow and BPM tools” with Lite rule-based/knowledge-based apps
    • In merger and splitting-up programs and projects
    www.Visible-Banking.com
  • Mobile Financial Services
    • Mobile Financial Services Landscape
    • mBanking: Opportunities & Challenges
    • Education to Drive Adoption
    • Blurred Frontier between Banks & Telcos
    • Near-Field Communications
    • Micro Finance
    • Innovations from Google & Mastercard
  • Leveraging the mobile penetration rate
    • There are over 3 billion mobile phones in the world, but only 1,5 billion credit cards!
    • Gives banks access to a growing subset of customers
      • 40% of bank customers are interested in mobile services
      • 25% of bank customers would consider switching banks for mobile banking services Source: “Mobile Banking: Weighing the Lessons Learned,” Bank Systems & Technology (July 29, 2008)
    • mBanking is a new segment
      • Only 50- 60% of mBanking users are also online banking users Source: Absa
    www.Visible-Banking.com
  • Mobile Financial Services mBanking - Ideal for balance enquiries, funds transfers, expense management, bill and credit card payments, stopping payments, mobile statements and loans. Mobile Payments - Key challenges: Money laundering issues (especially cross-border) and the complex value chain (the total revenue stream is getting smaller, as charges reduce. Currently the banks’ margin is 0.3%) www.Visible-Banking.com
  • Mobey Forum
    • Challenges faced by the banking industry
      • Credit-crunch (mobile cuts costs)
      • SEPA
      • Increased regulation
      • New entrants (eg PayPal)
      • Business cases for cash replacement & mobile payments
    • 3 business models for a service provider
      • Collaborative, Joint-Venture and Independent Model
    www.Visible-Banking.com
  • Mobile Banking Worldwide Expansion www.Visible-Banking.com
  • Three Main Mobile Banking Technologies www.Visible-Banking.com
  • mBanking: Opportunities & Challenges
    • The key: mobile customer experience
      • functionality, quality and utility
    • Consumers want mobile services that are
      • intuitive, easy to use, uncluttered, secure, integrated, trusted and customizable.
    • Potential barriers to adoption of mBanking
      • Ease of use, Security, Convenience and cost
    • And the supply chain is complex with issues around collaboration and revenue sharing
    www.Visible-Banking.com
  • Lloyds TSB’s SMS Text Alert Service • Greater control • Ease-of-use • Increased awareness • More confident Key Benefits
    • • Previous day’s closing balance
    • Last six transactions
    • Sent weekly or daily
    • Secure
    4 Key Features www.Visible-Banking.com
  • Universal Service with Rendering Engine www.Visible-Banking.com
  • Education to Drive Adoption The benefits of Mobile Banking are not as obvious to your customers as you think www.Visible-Banking.com
  • The Frontier is blurred btw Telcos&Banks Banks / MVNOs Telcos / Banking License Joint-Ventures www.Visible-Banking.com
  • Solutions for Retail & Business Customers www.Visible-Banking.com
  • Near-Field Communications (NFC)
    • Key opportunities
      • Payment, transit, marketing loyalty, authentication
    • Key issues
      • Availability of handsets and security
    • NFC is a key enabling technology Source: Mobey Forum
    • NFC payments using a mobile are quick & convenient and could replace cards, but it is still difficult to build a business case. Develop NFC on cards first. Source: Nordea
    www.Visible-Banking.com
  • Successful Apps for NFC www.Visible-Banking.com
  • NFC - Transit Hong Kong Transit’s Octopus card uses NFC technology and was deployed very quickly. In Japan, there are 74million NFC chips in mobile phone. www.Visible-Banking.com
  • Mobile contactless payments
    • Drivers
      • 1. cash replacement
      • 2. fast & convenient
    • Challenges
      • Business Models
      • Schedule for contactless
      • Standards for mobile contactless
    www.Visible-Banking.com
  • MicroFinance: Mob. Banking for the Unbanked
    • Target
      • 3 billion people leaving under US$ 2
      • Dispersed / far from infrastructure
      • Limited education, illiteracy
      • No formal identification and financial document
      • Require a range of financial services
      • Cultural bias or negative perception of banking
    • Key challenges,
      • Clients adoption, Interoperability, Liquidity/conversion to/from cash, Regulatory issues
    www.Visible-Banking.com
  • MicroFinance: Examples in BRIC & Africa
    • Safaricom (2006): Mobile wallet for remittances, purchases, bill pay, store value
    • 2,500+ agent locations, Available to anyone, No joining or monthly fees, No minimum balance, Pay-as-you-go pricing
    • 2.5 mil registered clients in 2 yrs, Handles USD 1.5 mil daily
    • Banco Bradesco: Pension payments, utilities, loans, savings, purchases all enabled
    • 17,360 POS-equipped merchants acting as agents of largest bank
    • Banks reach all 5,561 municipalities
    • 12 mil accounts opened ’02-’06, 1.5 bil transactions via agents in 2006
    • Replaced branches as #1 service pt
    www.Visible-Banking.com
  • Google’s Open Handset Alliance
    • Mobile is a huge opportunity, but data are price-elastic, and the high-cost of data discourages use
    Source: http://code.google.com/android/index.html (Nov 2008) www.Visible-Banking.com
  • MasterCard’s Unique Stadium Offering www.Visible-Banking.com
  • Christophe Langlois, Visible-Banking.com Athenes, Novembre 2008 Internet & Mobile Novembre 2008