Redefining Convenience with Mobile Banking

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Presentation at the Australian Retail Deposits Conference 2012 to explore Standard Chartered's journey so far and share observations on the evolution of distribution and service convenience with Mobile Banking

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Redefining Convenience with Mobile Banking

  1. 1. 3 MAY 2012, RETAIL DEPOSITS CONFERENCE, WESTIN, SYDNEY
  2. 2. ONE DEVICE: ONE PURPOSE TELEPHONY (100%)
  3. 3. ONE DEVICE: NOW MULTI-PURPOSE WEB & SEARCH (12%) GAMING & SOCIAL (47%) 10 Mins 40 Mins TELEPHONY (32%) 27 Mins MAIL (9%) 7 MinsSource: US Mobile data from App Fire 11/1. Note: Android users showed higher browsing activity
  4. 4. MOBILE IS TRANSFORMING THE WEB 85% of Mobile phones 80% of Electricity Source: KPCB Internet Trends 2011
  5. 5. FROM BANKING HALLS TO SHOPPING MALLS ANYWHERE ANYTIME ANYHOW RETAIL CREDIT PHONE DEBIT MOBILE BRANCH CARDS BANKING CARD BANKING 1906 1950 1970 1990 2000 ATM EFT ONLINE SOCIAL POS BANKING MEDIA 1967 1974 1994 2005
  6. 6. BATTLE FOR THE BANKS: OLD ECONOMY INTENT ACTION Bank
  7. 7. BATTLE FOR THE BANKS: NEW ECONOMY INTENT ACTION Bank
  8. 8. MOBILE: DISRUPTION OR OPPORTUNITY? ALWAYS ON MOST USED DEVICE UNIQUE ID
  9. 9. BANKS NEED TO RESPOND IN THREE WAYS
  10. 10. DESIGNING CHANNELS TO DRIVE LOYALTYCUSTOMER DEMAND BANKS’S RESPONSE CHANNEL IMMEDIACY EXPERIENCE PAYMENT RELEVANCE CONVENIENCE ANALYTICS & SIMPLICITY INSIGHT SECURITY Source: IDEO Design Thinking
  11. 11. 1. BUILDING GREAT CHANNEL EXPERIENCES ma d e f or mobi l e l ifesty l e mul ti chan n el Home
  12. 12. 2. MAKING PAYMENTS MORE CONVIENIENT O l d :N ew New :New Ec osystems
  13. 13. 3. USING INSIGHT TO DRIVE STICKINESSES PROVIDING INSIGHT USING INSIGHT
  14. 14. BANKS NEED TO RESPOND IN THREE WAYS
  15. 15. NEW REVENUE MODELS Trick l en omics Mon itise Sal es through An al y tics Service
  16. 16. BANKS NEED TO RESPOND IN THREE WAYS
  17. 17. 1. SWEAT THE SMALL STUFF CONSULTANCY STRATEGY TRIVIA ? Source: Rory Sutherland, TED
  18. 18. 2. CULTIVATE GREAT PARTNERS
  19. 19. 3. TECHNOLOGY IS THE BUSINESS
  20. 20. 4. EXPERIMENT AND FAIL FAST
  21. 21. 5. GOOD EXPERIENCES NEED GREAT PEOPLE

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