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Tablet Banking Series: Your key to a successful tablet banking proposition
 

Tablet Banking Series: Your key to a successful tablet banking proposition

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    Tablet Banking Series: Your key to a successful tablet banking proposition Tablet Banking Series: Your key to a successful tablet banking proposition Presentation Transcript

    • About the report Tablet Banking Series: Your key to a successful tablet banking proposition Author: M. Johnson Edited: E. Chatham November 2013 Every month new reports indicate the rapid growth of not only general tablet adoption, but also the propensity of consumers to use the tablet for a range of banking needs from payments to decision making. As a result, a steadfast tablet strategy is essential for any bank to ensure they are not left behind. The development in the tablet banking sector varies widely and this report aims to explore how banks develop their tablet offering in relation to mobile and online channels, what new features are being implemented by market leaders to provide a good user experience, a glimpse into what new to market propositions look like, and how banks are developing what we consider to be “tablet specific functions” namely investment and PFM functionalities. This report will provide you with a clear and unique understanding of the steps required in order to ensure your investment in the tablet space is worthwhile. If you have any questions regarding this report, please contact Meaghan Johnson +44 07739 752 442 or via email: meaghan@maparesearch.com November 2013 – Page 1 © Mapa
    • 10 reasons why I should read this report, now 1. Tablet adoption is growing at a rapid pace globally 2. There is a growing propensity amongst customers to use tablet devices for a range of banking needs from payments to decision making 3. Leading banks are frequently upgrading their tablet apps, increasing customer expectations surrounding services and functionality – understanding these upgrades it key to maintaining your competitive edge 4. Key features and examples can serve as inspiration for product and feature development 5. Uncover best in class examples of how banks are innovating payments within the tablet channel 6. Consumers are expressing a shift in preference toward using tablet devices for banking 7. Banks are increasingly innovating their tablet app to incorporate features generally confined to online and telephone banking, such as card management 8. Learn how to incorporate investment functionality into a stand alone tablet app or within a day to day banking app 9. See what the latest new to market apps look like 10. This a truly unique look into the customer journey of a potential tablet banker If you have any questions regarding purchasing this report, please contact Meaghan Johnson on +44 7739 752 442 or via email: meaghan@maparesearch.com © Mapa
    • B Introduction Sample page from report This report aims to understand what types of strategic considerations banks are taking when developing their respective tablet propositions. It contains a quantitative study to understand how banks develop their proposition, specifically in relation to mobile. The report also includes detailed insights into innovation trends around various types of functionalities from payments to PFM, as well as a deep dive into what new to market tablet propositions look like, and finally best in class examples of multi-device journeys. What does a tablet banking proposition look like? We conducted a quantitative study of 49 banks across 11 countries see Section 3 Are banks rolling out dedicated iOS tablet apps? Do banks also develop a dedicated Android tablet app? Can the app be viewed in both portrait and landscape? How often are banks updating their tablet apps? What types of updates are these? Are these changes in line with the mobile app changes? What do they key innovation trends look like? Focusing on the same banks, but supplemented by additional research, see Section 4 • Payments • Account management • PFM • Investment functionality • New to market propositions • Multi-device journeys The report will help you understand your positioning relative to other retail banks around the world. It will also provide an input into the internal planning and decision making process providing scenarios and best case examples to strengthen the planning and business case design process. November 2013 – Page 3 © Mapa
    • C Brands Featured Sample page from report Forty Nine banks were researched in depth, providing the basis for the data presented throughout the report. UK American Express Barclays Citibank HSBC Santander Spain BBVA La Caixa Santander Sweden Danske Bank Handelsbanken Länsförsäkringar Nordea SEB Skandiabanken Swedbank Australia ANZ Commonwealth Bank NAB Westpac France Boursorama BNP Paribas Société Générale Germany Commerzbank Deutsche Bank Postbank Sparkasse Netherlands ABN AMRO ING Rabobank SNS Bank Denmark Danske Bank Jyske Bank Nordea Nykredit Sydbank November 2013 – Page 4 USA American Express Bank of America BB&T Chase Wells Fargo USAA Norway DNB Sparebank 1 Skandiabanken Belgium Belfius BNP Paribas Fortis KBC © Mapa
    • 1 Lessons From Previous Editions Sample page from report The purpose of this section is to put this report into the context of findings in previous editions. Edition 1 “Early Adopters” Edition 2 “Evolution and customer profile” Edition 3 “Continued evolution and non-iPad innovations” Edition 4 “Branch on the go?” This Edition “Key considerations for a successful strategy” 2010 2011 2012 2013 2013 • Development pioneered by Australia, the US and Spain • Launches typically where banks had "front doorways", which were simple applications that led the user back to their public website • Development largely focused on enhancing the ease of consuming information on a tablet • The tablet banker matched the profile of a white collar worker, aged 25 to 44 ,comfortable with all things online and interested in buying other FS products via the device. The Tablet Banker was also likely to be male • More banks are investing in a tablet banking offering. While apps for the iPad continue to dominate there is a shift towards a device agnostic strategy • An increased focus on design and usability with banks November 2013 – Page 5 • Banks are utilising the tablet to tailor the banking experience primarily through personalisation and enhancing PFM features, adding value to the UX • The tablet experience is well suited to incorporate many aspects of the branch experience • This report aims to explore how banks are developing their tablet proposition in relation to mobile and what features are being implemented by market leaders to provide a best in class user experience © Mapa
    • 3 Strategic considerations Sample page from report Android version: Bank of America (US) offer both a tablet version of their app for iOS and Android. The navigation between the Android tablet and mobile app is similar, providing users of both apps with a good sense of familiarity when switching across devices. Tablet version, Android Mobile version, Android Tablet version, iOS November 2013 – Page 6 © Mapa
    • 4 Tablet banking innovation: account management Sample page from report Barclays (UK) updated its iPad app that includes a Service Centre in the left hand side navigation. The update is in line with the mobile banking update and provides an easily link to manage accounts and statements. November 2013 – Page 7 © Mapa
    • 4 Tablet banking innovation: PFM functionality Sample page from report Postbank (DE): Within the tablet banking app has a dedicated tab for savings goals, Sparziele (see screenshot on the left). On the account summary screen (right hand screenshot) customers can view a potential balance at the end of a month based on outgoings which must be manually inputted by the customer. The PFM feature has a “future looking” features that shows the balance at the end of the month based on standing orders, direct debits and expenses that customers can manually input. Note these numbers are the same as the customer has not inputted any data. Once a customers outgoings are inputted into the PFM feature, they are provided with an amount (€12.46) that they have which can be safely put into one of their savings goals November 2013 – Page 8 © Mapa
    • Mapa Reports on the hottest topics in Digital Banking 2013 Reports 2014 Reports 1. Tablet Banking report series – 4th edition 1. Cross channel experiences – state of the market 2014 2. Digital innovations: selling within digital banking channels 2. Disruptors in Financial Services – what can retail banks learn? 3. Mobile banking – state of the market 2013 3. Mobile banking – state of the market 2014 4. The evolution of PFM and money management tools – 3rd edition 4. The evolution of PFM and money management tools – 4th edition 5. Digital innovations: engaging and onboarding business banking customers 5. Digital innovations: Engaging and onboarding business banking customers – 2nd edition 6. Tablet banking report series – 5th edition 6. Tablet banking report series – 6th edition 7. Digital banking security report – 2nd edition 7. Digital banking security report – 3rd edition 8. The evolution of point-of-sale mobile payment services – 2nd edition 8. The evolution of point-of-sale mobile payment services – 3rd edition November 2013 – Page 9 © Mapa
    • About Mapa Research Mapa specialise in digital and mobile retail Financial Services research. We have a global reach and are experts in our field.  Competitor Analysis  Competitor Dashboards  Consultancy Services  Insight Reports  Handset Workshops The best way to get in touch: Edward Chatham, Managing Director Edward@maparesearch.com +44 (0)7912 180 061 Meaghan Johnson, Senior Consultant Meaghan@maparesearch.com +44 (0)7739 752 442 November 2013 – Page 10 © Mapa