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Transform 2014: Mobility and its Impact on Your Business, Operations and Processes

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Learn from a recognized mobile industry veteran who designed and implemented mobile banking apps for the purpose of competitively differentiating the bank as a visionary, attracting new customers, and …

Learn from a recognized mobile industry veteran who designed and implemented mobile banking apps for the purpose of competitively differentiating the bank as a visionary, attracting new customers, and improving the overall mobile banking experience. Learn how the process went from concept to reality and the steps in between from the mobile leader who managed and executed the end to end solution.

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  • 1. Brian Pearce SVP, Head of Retail Mobile Channel and Digital Innovations Mobility – A Large FI perspective
  • 2. Mobility: the ability to move or be moved freely and easily (Oxford Dictionary) With new emerging trends and technologies, customer interaction with their finances is going to change. 2 Changing Expectations Social Always On New Devices Unique
  • 3. Technology trends impacting all  Mobile: the ongoing development and usage of a variety of devices like mobile phones and tablet computing.  Social: rapid adoption of new communication vehicles, networks and techniques to connect.  Digitization: the ongoing transformation of formerly physical media (documents, music, video, books, payments, etc.) into digital format.  New data technology: significant improvement to targeted marketing, selling and servicing customers.  Cloud computing: enabled an explosion in new companies, capabilities, and apps These trends are changing how customers interact with just about…everything 3
  • 4. Lies, Damn Lies and Statistics… Mark Twain 4 Use of Wi-FI Data 80% 60% 49% 21% Send or receive text messages Access the internet Get directions or location based info Video chat or call4 % of cell phone owners use their cell phone to... Cell Phone Activities 2013” – Pew Research Center 278M mobile users in the US as of 2013 1 Cisco VNI Global Mobile Data Forecast Update (2013 – 2018) 1Comscore – June 2013
  • 5. Wells Fargo Response
  • 6. 6 Multi-channel distribution is at our core
  • 7. Our best customers are multi-channel Wells Fargo Internal data 7
  • 8. The Third Wave of Mobile in Financial Services  Early adoption of the channel  Learnings about customer engagement, working with networks and security  Not many customers  Improved web browser experience and popularity of SMS spurred reintroduction  Smartphone/App revolution drove adoption  We found customers!  Mobile lifestyle emerges and customer expectations shift  Surge in demand for delivering mobile functionality from partners  Need to scale delivery 8 2001 - 2002 2007 - 2012 - Experimentation Foundations Mobility
  • 9. Wells Fargo uses mobile to engage customers Mobile delivers on the Anytime, Anywhere commitment we make to our customers 9 Our mission Deliver “best-in-class” mobile financial services across devices and modes that delight and empower our customers Our strategy  Unified mobile experience  Value for Wells Fargo through engagement  Create channel capabilities  Sales and marketing opportunity  Experiment and innovate
  • 10. Mobile Website (wf.com) (Launched July 2007) Customer Services Text Banking (93557) (Launched October 2007) Smartphones & Feature Phones Internet-enabled phones Mobile Applications (Launched May 2009) iPhone, Android, Blackberry and Palm SMS-enabled phones Mobile channel has grown to 12mm active users iPad, Android Tablets (Launched December 2012) 10 Top Line Stats 90 Day Active 12.1MM Online Pen. 56% Mobile Only 1.4mm Sessions/Mo 13.1 Texts/Mo 27.7  Android Tablet  New Home Page  Text Banking Transfers  Add Payees  Check Images 2013 Key Projects
  • 11. Mobility Framework
  • 12. Enhance the journey across customer paths by applying mobile capabilities through interaction patterns. • Mobile is the first “AND” channel where a customer can be in multiple channels at onceSimultaneous • Introduces new ways to message and interact with customersCommunicate • A standalone channel that’s on the go and always onPortable InteractionPatterns Customer Paths Research Strategize Track Transact Resolve/ ManageOnboard Mobile Capabilities Connected Devices Internet Access Maps + GPSMessaging Camera/Video Gesture Input Org Tools Accelerometer HD Display Cell Network PhoneNFC Speech input Bluetooth Gyroscope Vibrate Audio In/Out Offline Features View Modes Appliances Smart TVs Gaming Systems Car Telematics Wearables Tablets 12
  • 13. Focus for Retail Mobile Banking in the U.S. 13 Extending Sales and Marketing to Mobile Users • Customers are starting the sales journey on their mobile device Adding mobile unique feature • Delight customers with special mobile experiences Multi-channel capabilities and new distribution points • Customers are adding new devices to their lives and want to use them in new ways Messaging • Leverage the power of 2-way messaging The “Long Tail” • Customers want everything to be accessible on their mobile device!
  • 14. Key Insights from 7 years of Mobile  Mobilize don’t miniaturize  Just porting desktop experiencing to mobile won’t meet customer expectations. Rethink the experience for mobile.  Remember context  Mobile can be “on the go” or “on the couch”. Design for both.  Your competition is different  Customers compare you to other experiences that they have on their phone, not necessarily your competitors.  Customers tasks don’t change  Mobile provides new ways to help customers, but doesn’t change their fundamental needs. 14
  • 15. 15 Thank you! Wells Fargo
  • 16. For further information, please contact:  Brian Pearce  SVP, Head of Retail Mobile Channel  Phone: 415.222.3824  Email: pearcebm@wellsfargo.com  Twitter: @WFMobileBrian