mCommerce and Mobile Banking: The Evolution and Opportunities

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This webinar/slidecast provides insight on mobile commerce (mCommerce) and specifically mobile banking, which is a large component of this industry. Learn how various financial institutions approach their growing mobile strategy, as well as how the growth of mobile commerce and banking affects consumers and changes the way people use mobile. Michael also shares his 4-phase approach to mobile banking; providing the technology options, functional capabilities and benefits for each.

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mCommerce and Mobile Banking: The Evolution and Opportunities

  1. 1. Michael Shpigel Senior Technical Consultant Molecular January 2009 The material contained in this document is proprietary and confidential to Molecular. Copies are made available on the basis that use is limited to the sole purpose of evaluating the Molecular services. It is not permissible to use, modify, copy or disclose any information contained herein for any other purpose without the express written permission of Molecular. If you are not the intended recipient of this material you are requested to take immediate steps to destroy it.
  2. 2. What is Mobile Commerce? quot;Mobile Commerce is any transaction, involving the transfer of ownership or rights to use goods and services, which is initiated and/or completed by using mobile access to computer-mediated networks with the help of an electronic device.quot; 2 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  3. 3. Rise of m-Commerce 3 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  4. 4. M-Commerce in Action 4 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  5. 5. Growth of Mobile Banking 5 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  6. 6. Mobile Banking Today 6
  7. 7. Banks adding mobile services 7 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  8. 8. Mobile Banking Approach Present Past Future • SMS Alerts • SMS Alerts • SMS Alerts • WAP and rich client Bank A • SMS Alerts • SMS Alerts • SMS Alerts • WAP and rich client • WAP • WAP Bank B • Mobile payments, • Rich client mobile wallet, P2P 8 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  9. 9. Successful mobile banking implementation 9 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  10. 10. Phase 1 – Addressing the Mobile Channel Strategy: Create consumer awareness Implementation: Simple alert/notification SMS push 10 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  11. 11. Phase 2 – Cost savings from the Mobile Channel Strategy: Create consumer interaction Implementation: Simple interactive services 11 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  12. 12. Phase 3 – Innovative fee based services Strategy: Create interactive services with value Implementation: Complex services 12 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  13. 13. Phase 4 – Mobile Financial Services Strategy: Create broader mobile commerce application Implementation: Advanced services 13 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  14. 14. Four Phases of Mobile Banking Innovative fee-based Cost savings from Mobile Addressing Mobile Channel Mobile financial services services Future mPayments Simple Interactive Banking Value added interactive Alerts and Capabilities Functional mBanking Notifications, push SMS • MicroPayments • Balance • Funds Transfer • P2P • Statements • Bill Pay • Remmitance • 2FA • NFC mCommerce platform with mBanking platform for Technology Silo platforms for SMS, Messaging Services Choices Mobile Wallet quickly launching WAP and Rich Client Alerts Engine innovative services Unified mBanking Platform 14 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar
  15. 15. Time with Customers Reach your customers 99% of the time they are not in your branch or in front of their computer. Mobile Devices are where the physical world and online world converge. 15 Copyright © 2008 Molecular. All Rights Reserved. | www.molecular.com | Linked by Isobar

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