HeadquartersForrester Research, Inc., 60 Acorn Park Drive, Cambridge, MA, 02140 USATel: +1 617.613.6000 • Fax: +1 617.613.5000 • www.forrester.comFor eBusiness & Channel Strategy ProfessionalsWhy Read This ReportMobile banking is the most important strategic change in retail banking in more than a decade. Yet toomany banks have taken a haphazard approach to mobile strategy, rolling out apps and features without arigorous assessment of where customers’ expectations and business objectives align. The mobile bankingstrategy playbook provides insights for all banking eBusiness and channel strategy professionals — fromthose just beginning their mobile banking journey to experienced leaders who are looking to optimizetheir already successful strategy. Our research identifies the steps that digital banking teams must followto plan and then implement a successful mobile banking strategy that complements other channels,including planning and strategy creation, organization and governance, technology selection, bestpractices in execution, measuring success, and continuous improvement.Building A World-Class Mobile Banking StrategyExecutive Overview: The Mobile Banking Strategy Playbookby Peter Wannemacher and Benjamin Ensorwith Carrie Johnson, Tiffani Montez, Myriam Da Costa, and Douglas RobergeMarch 19, 2013WHY MOBILE BANKING MATTERSMobile banking is the most important strategic opportunity in retail banking in at least a decade.1Toomany banks have taken a haphazard approach to mobile banking strategy in the rush to meet customers’rising expectations and keep up with competitors. Digital banking leaders and retail banking boardmembers need to take a more disciplined approach to mobile banking strategy because mobile banking isfundamental to the very future of retail banking businesses. Mobile banking will increasingly define thecustomer experience for millions of customers because:■ Mobile Internet use is exploding, driving high customer expectations. With more than 1 billionsmartphones in consumers’ pockets at the beginning of 2013, mobile is driving a second Internetrevolution that’s even more profound than the first one.2The longer customers spend using mobiledevices, the higher their mobile expectations become. The rate of technological change — and thedigital disruption it causes — is outpacing many banks’ ability to keep up with traditional planningand development processes.3■ Mobile banking is displacing online banking. Technologies like apps let customers perform simplebanking tasks more quickly and easily on a mobile or a tablet than on a PC. As a result, banking onsmartphones and tablets is already displacing banking on PCs for routine interactions.4Growingnumbers of users are mobile-only customers who have either stopped using or significantly reducedtheir use of other channels. Over the coming decade, smartphones, tablets, and other portable deviceswill become the dashboard through which many customers, both rich and poor, manage their money.In the US alone, we expect the number of mobile banking users to more than double over the next fiveyears to reach 108 million by 2017.5Other countries will see similar growth.