The Big Flip: Mobile Apps in Financial Services
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The Big Flip: Mobile Apps in Financial Services The Big Flip: Mobile Apps in Financial Services Presentation Transcript

  • The Big FlipMobility’s Impact on theFinancial Services MarketJim SomersChief Marketing & Strategy OfficerUpdated: October 2012Twitter: @JimatAntenna
  • 2 © Copyright 2012 Antenna Software, Inc. All rights reserved.Antenna helps enterprises build, run and managetheir mobile applications and content.➦ Enabling enterprises to eliminate risk, lower costs, and stayfuture-proofed from the constant changes happening in ourincreasingly mobile society.What We DoWhat We Do
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Our ExperienceOur Experience3 View slide
  • 4““WhileWhile 21%21% of all Britsof all Britssay they would pay billssay they would pay billsvia a mobile phone …via a mobile phone …© 2011 Antenna Software | All content confidential…… 46%46% ofof iPhoneiPhoneusers said they would.users said they would.””I recently read that …I recently read that …Source: “iPhone Users Keenest on Mobile Banking,” Mobey Forum News & Views, Sept. 2011 View slide
  • 5© 2011 Antenna Software | All content confidentialThey Like It!They Like It!
  • WhatWhat’s With This ‘Big Flip’ thing?’s With This ‘Big Flip’ thing?6© 2011 Antenna Software | All content confidentialBig FlipDef. a cultural reversal brought onby rapid consumer adoption of adisruptive technology.
  • 7Flips Are Everywhere© 2011 Antenna Software | All content confidentialMusic Movies Publishing
  • 8Not to Digress … but© 2011 Antenna Software | All content confidentialThe Tower Records in my town is now a thrift shop!
  • REACH9FUNCTION© 2011 Antenna Software | All content confidentialApple: The Serial FlipperDisruptTransformDisruptTransformDisruptTransformDisrupt?Transform?
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Proprietary and Confidential1010• The iPod changed the media industry.The iPod changed the media industry.• The iPhone ramped even faster.The iPhone ramped even faster.• The iPad leaves itsThe iPad leaves its ‘siblings’ in the dust.‘siblings’ in the dust.Source: Apple by way of Mary Meeker, Partner, Kleiner PerkinsWhat’s Next?
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Proprietary and Confidential1111Not An Apple Love Story
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.““It is not the strongestIt is not the strongestof the species thatof the species thatsurvives, nor the mostsurvives, nor the mostintelligent that survives.intelligent that survives.It is the one that is theIt is the one that is themost adaptable tomost adaptable tochange.”change.”- Charles Darwin- Charles Darwin12© Copyright 2011 Antenna Software, Inc. All rights reserved.Adapt or PerishAdapt or Perish
  • no!no!13© 2011 Antenna Software | All content confidential““Forrester Research found thatForrester Research found that48 percent of information48 percent of informationworkers buy smartphones forworkers buy smartphones forwork without considering whatwork without considering whattheir I.T. department supports.their I.T. department supports.””“More Offices Let Workers Choose Their Own Devices,” NY Times, 9/22/11
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.The IT Flipping PointThe IT Flipping Point14• Standardized on 1 device platform• Extending data from behind firewall• Linear workflow for task based workers• Simple and straightforward UI/UXSalesSalesServiceServiceSuppoSupportrtControlled andControlled andmanaged by ITmanaged by ITEnterpriseEnterpriseBackBackendsendsMobile 1.0Mobile 1.014MerchandisingMerchandising TravelersTravelersShoppersShoppers InvestorsInvestors• Multiple device platforms• User, not corporate, device and carrier selection• Proliferation of third party apps• Multiple delivery channels & social networksSalesSalesMarketingMarketingeCommerceeCommerceMobileMobileArchitectArchitectManagement Reacting to Consumer DemandManagement Reacting to Consumer DemandThe Device I Want The Network I Want The Apps I WantMobile 2.0
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.DEVICES ARE EVERYWHEREDEVICES ARE EVERYWHERESource: National RetailFederation, May 2010Mobile phonesoutnumbercredit cards andbank accounts.Source: IDC, Worldwide MEAPForecast, Sept. 2011Nearly 1 billionsmartphones toship globally by2015.Source: Daily Infographic &http://en.wikipedia.org/wiki/CattleThat’s like everycow on theplanet getting asmartphone!15© 2011 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Source: World PopulationFoundationNearly half ofthe world’s pop-ulation is underthe age of 25 …Source: World PopulationSource: World PopulationFoundationFoundationUsing a diversityof mobile tech-nologies to stayconnected.”Source: Antenna 2011 MobileSource: Antenna 2011 MobileBanking Benchmark StudyBanking Benchmark StudyDriving the rapiduptake of mobilebanking servicesin US & UK.16© 2011 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.M-Payments willM-Payments willreach $670reach $670billion by 2015.billion by 2015.(up from $170 billion in 2011)(up from $170 billion in 2011)Source: Juniper ResearchSource: Juniper ResearchThis is forecast toThis is forecast togrow over 6-foldgrow over 6-foldto nearly 490to nearly 490million by themillion by theend of 2014.end of 2014.Source: Research & MarketsSource: Research & MarketsIn 2009, thereIn 2009, therewere 81 millionwere 81 millionmobile paymentmobile paymentusers worldwide.users worldwide.Source: Research & MarketsSource: Research & Markets17© 2011 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Enough Already!Enough Already!10,000+ mobiledevices from 50+manufacturers1.5M mobile apps frommore than 40 stores1 in 3 mobilesubscribers goingto social networksthru a mobilebrowserOK … LetOK … Let’s just build something quick’s just build something quickand easy so we can get somethingand easy so we can get somethingout the door. Who can do that?out the door. Who can do that?18© 2011 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.‘‘eTraded in his bankeTraded in his bank““As an active trader, Im completelyAs an active trader, Im completelyfed up with this app and Ill befed up with this app and Ill bemoving to another brokerage soonmoving to another brokerage soondue to how poorly it works.”due to how poorly it works.”19© 2012 Antenna Software | All content confidential• ““After the update it wont accept myuser ID.”• “This app used to be so easy andhelpful. Now it will not log in.”• “Doesnt recognize ID and wont letyou access accounts.”
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.How Rooted Are Your Apps?How Rooted Are Your Apps?20New PoliciesNew DevicesNew UsersWinds of Change areWinds of Change areConstantConstantDevelopment What happens when new devices are introduced into theWhat happens when new devices are introduced into themix?mix?Integration What happens when there are updates to the backendWhat happens when there are updates to the backendsystems?systems?Management What happens when new users come on board or leave?What happens when new users come on board or leave?Communications Who do your users call if there is a network outage?Who do your users call if there is a network outage?Security What happens when a device is lost or stolen?What happens when a device is lost or stolen?Mobile ApplicationsMobile Applications
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Mobile Banking Study Tells Us …Mobile Banking Study Tells Us …• Room for Growth: 40% of respondents usemobile banking from their mobile device.• Convenience is Key:• 55% check their balance• 43% view transaction history• 36% use it to locate the nearest ATM• Securing Trust: 69% of those surveyed saidthat security is biggest concern• Web & Apps Neck & Neck: 16% use mobilewebsite; 13% use mobile apps• 2ndGen: Large Banks are onto their nextphase of mobile, realizing the app betterbe useful or you will lose customers anddamage corporate image• 2,015 adults in US whoaccess the internet ontheir mobile phone,smartphone, or tablet.• Research done in May2011.• 2,015 adults in US whoaccess the internet ontheir mobile phone,smartphone, or tablet.• Research done in May2011.21
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.22““Success for me is we have a mobile solution that permeates ourSuccess for me is we have a mobile solution that permeates ourorganization and is unencumbered by licenses.”organization and is unencumbered by licenses.”-CTO, Wealth Management, Americas, Swiss BankCTO, Wealth Management, Americas, Swiss BankWhat We Hear …What We Hear …““We have done a few one off projects both internally and withWe have done a few one off projects both internally and withvendors and are looking to consolidate efforts into a coherentvendors and are looking to consolidate efforts into a coherentmobile strategy.”mobile strategy.” ---Managing Director, Web Portal Services, British BankManaging Director, Web Portal Services, British Bank““We decided to deploy a basic mobile banking capability using aWe decided to deploy a basic mobile banking capability using avendor to get to market quickly, but now realize we need a holisticvendor to get to market quickly, but now realize we need a holisticplatform for our next gen offering.”platform for our next gen offering.”-Chief Information Officer, Midwestern BankChief Information Officer, Midwestern Bank© 2012 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Enable theEnable the ‘Real Time’ Bank‘Real Time’ Bank23Employee Facing Customer Facing
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Garanti, Turkey’s secondlargest bank, has over250,000 customers using itsmobile banking serviceeach month:• View their account• Buy and sell on the stock exchange• Transfer money, pay credit cardsand reach market data• The service has been so successfulthey are extending it to their smalland medium sized businessaccounts.“We wanted our mobile banking service to mimic theonline site as much as possible so that users would befamiliar with its operation. Our goal was to offer thebroadest set of mobile banking services to Turkey’smobile subscribers on the device of their choice. Wehave been extremely pleased with the results.”Barbarous Uygun | Head of Delivery Channels,Garanti24© 2012 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.ING DIRECT’S mobile applets banking customer “put abranch in their pocket” andconduct their bankingbusiness on the go:• Transfer money between accounts• Pay people / bills on the fly• P2P funds transfer• Check account balances andtransaction details• Pay a friend by “bumping”• One touch access to ING social sites25© 2012 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.This app gives institutionalclients the ability to interactwith the full breadth ofproprietary researchcontent, including:• Most/least preferred investments• Equity & fixed income indices• Personal portfolios• Recommendations on individualsecurities, outlooks & forecasts• Asset allocation strategies26© 2012 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.The Value of the PlatformThe Value of the PlatformDevelopment• Fast time-to-market• Cross device• Common APIs, librariesand controls• HTML5-ready• Single code base• Lower TCO• Built-in MEAPcapabilitiesManagementManagement• Mobile App Platform does 80% of the heavy lifting in managingyour mobile deployments:- Connectivity management- Data integration- Transaction assurance- Security- Analytics/BI- Device Management• It allows you to free up your IT resources for strategic projectsand deliverables core to YOUR business.• Keeps you agile, protected and relevant for the long term.• Mobile App Platform does 80% of the heavy lifting in managingyour mobile deployments:- Connectivity management- Data integration- Transaction assurance- Security- Analytics/BI- Device Management• It allows you to free up your IT resources for strategic projectsand deliverables core to YOUR business.• Keeps you agile, protected and relevant for the long term.27© 2011 Antenna Software | All content confidential➭ Your apps can only be as good as the platform that powers them.27© 2012 Antenna Software | All content confidential
  • © Copyright 2012 Antenna Software, Inc. All rights reserved. Proprietary and Confidential. Do not distribute.Big Flip: Immutable TruthsBig Flip: Immutable Truths281. Are born by a desire to improvethe experience2. Occur from the bottom-up3. Destroy the status quo4. Cannot be throttled up/down5. Are inherently good6. Happen fast7. Create new ecoystems© 2012 Antenna Software | All content confidential
  • Thank YouTwitter: @JimatAntenna29