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A new look at market intelligenceMobile Banking Trends & InnovationsDaniel J. WiegandSenior Analyst, Consulting & Mobile R...
Table of Contents Corporate Insight’s mobile research The mobile banking customer Industry standards Mobile-specific t...
About Corporate Insight Competitive intelligence and user  experience research provider to the  financial services indust...
Mobile banking reaches tens of millions                                          4
Unsurprisingly, mobile banking customers are young Relatively lower income & net worth         Percentage of Users on Mob...
Tablet clients tend older and higher-net worth, though40%     Tablet Users - Age         40%                              ...
Account data is key                              Top 5 Mobile Activities           Check account balances                 ...
Banks are delivering the essentials As of March 2012, every bank Corporate Insight tracks is mobile      94% offer nativ...
Next phase: mobile-exclusive technologies Remote deposit capture (RDC) catching on      Introduced by USAA in 2009     ...
Mobile shopping on the rise?                                  AmEx My Offers              Capital One Deals               ...
FS firms experimenting with barcode scanning        AmEx RedLaser Promotion & Scan   TD Ameritrade & E*TRADE Barcode Scann...
P2P remains a basic form of mobile payments       B of A Transfer to Another Person   ING Bump Payment                    ...
Tablets catching on – not just the iPad            2011                          2012                     &               ...
The tablet difference is in design & visualizations          Bank of America Calendar                                     ...
To recap… Know your mobile (and tablet) customers The basics remain the most important Next frontier: mobile-exclusive ...
Connect With Corporate Insight Contact Us                                        Stay Connected Dan Wiegand Senior Analyst...
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2012 Mobile Banking Trends & Innovations

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This presentation from Dan Wiegand, head of mobile research at Corporate Insight, analyzes the behaviors and preferences of mobile banking customers, highlights mobile finance best practices across the financial services industry and discusses emerging trends.

Published in: Economy & Finance, Business

Transcript of "2012 Mobile Banking Trends & Innovations"

  1. 1. A new look at market intelligenceMobile Banking Trends & InnovationsDaniel J. WiegandSenior Analyst, Consulting & Mobile ResearchJuly 24, 2012 1
  2. 2. Table of Contents Corporate Insight’s mobile research The mobile banking customer Industry standards Mobile-specific technology Tablet development 2
  3. 3. About Corporate Insight Competitive intelligence and user experience research provider to the financial services industry Industry-wide mobile coverage since 2011  Money on the Move: Mobile Finance Review 2011 – published June 15, 2011  Mobile Monitor – January 2012 - present • Bi-weekly updates on changes/additions to competitors’ mobile websites & apps • Quarterly reports focusing on key mobile finance topics • Behind-the-login films of competitor mobile websites and apps • Competitor matrices 3
  4. 4. Mobile banking reaches tens of millions 4
  5. 5. Unsurprisingly, mobile banking customers are young Relatively lower income & net worth Percentage of Users on Mobile - Age Online banking users 60% Light branch usage Engaged with social media 30% 54% 33% 16% 0% <40 40-59 60+ 5
  6. 6. Tablet clients tend older and higher-net worth, though40% Tablet Users - Age 40% Tablet Users - Income20% 20% 33% 29% 17% 16% 16% 14%0% 0% <40 40-59 60+ <$60K $60K-<$150K $150K+ 6
  7. 7. Account data is key Top 5 Mobile Activities Check account balances 97% Check account activity/history 66% Transfer money 46% Locate an ATM/branch 32% Pay a bill 26% 0% 50% 100% 7
  8. 8. Banks are delivering the essentials As of March 2012, every bank Corporate Insight tracks is mobile  94% offer native apps  83% support an optimized mobile site  72% provide SMS banking Account balances and activity are universal  Transaction histories range from 3-18 months Transfers are standard; bill pay widespread Every firm offers a branch locator; functionality varies 8
  9. 9. Next phase: mobile-exclusive technologies Remote deposit capture (RDC) catching on  Introduced by USAA in 2009  Popularized by Chase QuickDeposit in 2010  Now available from 10+ banks & brokerages CI tracks Chase QuickDeposit 9
  10. 10. Mobile shopping on the rise? AmEx My Offers Capital One Deals 10
  11. 11. FS firms experimenting with barcode scanning AmEx RedLaser Promotion & Scan TD Ameritrade & E*TRADE Barcode Scanning 11
  12. 12. P2P remains a basic form of mobile payments B of A Transfer to Another Person ING Bump Payment 12
  13. 13. Tablets catching on – not just the iPad 2011 2012 & 13
  14. 14. The tablet difference is in design & visualizations Bank of America Calendar Citi Overview 14
  15. 15. To recap… Know your mobile (and tablet) customers The basics remain the most important Next frontier: mobile-exclusive technology Tablets also offer unique display capabilities 15
  16. 16. Connect With Corporate Insight Contact Us Stay Connected Dan Wiegand Senior Analyst, Consulting & Mobile Research Corporate Insight Blog 212-832-2002 x-118 dwiegand@corporateinsight.com Robert Burlin Twitter - @CInsight Vice President & Director, Business Development 212-832-2002 x-115 rburlin@corporateinsight.com LinkedIn Facebook SlideShare Presentations 16
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