2012 Mobile Banking Trends & Innovations

A new look at market intelligenceMobile Banking Trends & InnovationsDaniel J. WiegandSenior Analyst, Consulting & Mobile ResearchJuly 24, 2012 1

Table of Contents Corporate Insight’s mobile research The mobile banking customer Industry standards Mobile-specific technology Tablet development 2

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

Mobile banking reaches tens of millions 4

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

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

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

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

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

Mobile shopping on the rise? AmEx My Offers Capital One Deals 10

FS firms experimenting with barcode scanning AmEx RedLaser Promotion & Scan TD Ameritrade & E*TRADE Barcode Scanning 11

P2P remains a basic form of mobile payments B of A Transfer to Another Person ING Bump Payment 12

Tablets catching on – not just the iPad 2011 2012 & 13

The tablet difference is in design & visualizations Bank of America Calendar Citi Overview 14

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

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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2012 Mobile Banking Trends & Innovations

by Corporate Insight on Jul 31, 2012

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