unWired Oct 2013 - Monthly Bulletin from Market Simplified

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unWired is our monthly newsletter covering the latest accomplishments in Mobile. Don't miss out on the articles of the month and engage with Market Simplified to develop leading edge mobile apps.

Published in: Economy & Finance, Business
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unWired Oct 2013 - Monthly Bulletin from Market Simplified

  1. 1. UNWired P1 Spotlight mCommerce, a logical extension of mBanking P3 Product Showcase Kotak Mahindra Bank Mobile Excellence Award Finalist OCT 2013 P3 Insight Compete with Billion Apps mCommerce, a logical extension of mBanking In Banking 2020 roadmap, mCommerce will represent an enormous opportunity for Banks to increase sales and customer loyalty. It is time for retail banks to change. The best place to start understanding your customer is to put yourself into every step of the financial cycle and analyze what influences various purchase decisions. We also understand from a primary research with 15+ banks in India, there is an evident need for mCommerce module along with mBanking that can help drive better customer relations and business. CONT.
  2. 2. mCommerce, a logical extension of mBanking CONT. mBanking empowers banks to intelligently stay in touch with customers anytime and anywhere but mCommerce holds the potential to increase sales and customer loyalty as it can influence the customer on a daily basis. mBanking is for Convenience and mCommerce is for Effective Collaboration. How?  A communication medium which can enable banks to advise their customers to spend wisely with notifications & alerts; rewards & discounts; which in turn has a greater influence on their investments & savings.  A clever analytical system which can redirect Bank’s workforce to understand customers (KYC) at a deeper level using their transaction history, social media integration and distribution of money. For a DEMO, Click Here
  3. 3. Mobile Excellence Awards - Finalist Kotak Mahindra Bank's (KMB) mobile banking app designed & developed by Market Simplified, has been recognized among top five apps worldwide in the User Experience category of 2013 Mobile Excellence Awards. Ms. Shalini Mehta, executive VP, Kotak Mahindra Bank, said: "We are delighted at this recognition.Mehta, executive VP, Kotak worked not just to Ms. Shalini The team has zealously Mahindra Bank, said: make banking available on a mobile device, but has delved a stepzealously "We are delighted at this recognition. The team has beyond to identify worked not just to make banking available on a mobile different needs of individuals. The app sets new benchmarks in customer experience." a step beyond to identify different device, but has delved needs of individuals. The app sets new benchmarks in KMB's mobile banking app is available on Android, iOS, and Blackberry devices. It customer of satiating is built around the core premiseexperience."customer's banking requirements at his fingertip. The app is built to exacting standards to adhere to most secure internet banking architecture. Compete with Billion Apps Downtime & Latency is unacceptable in today’s competitive ecosphere. Amazon estimates to lose $1.6 billion a year if your page takes an extra second to load. Though this is referring to the web, mobile apps are expected to perform even faster than websites. Delays are calculated in milliseconds making the need to perform flawlessly with speed even more important. Using an example from the mobile world, eBay, that forecasts its mobile commerce volume to eclipse $20B in 2013, even 2% of downtime would be a loss of $400M. Thus, the need for flawless, high-performing apps is critical. To Successfully design, deploy and compete with billion apps wants for a sound mobile strategy & an experienced mobility partner.
  4. 4. Compete with Billion Apps CONT… 1. Goal oriented: Set realistic goals from the functionality aspect, to the amount of downloads you expect to achieve. Reduce noise by introducing only key relevant features. This intends to reduce go-live time and focus on increasing usage. 2. Proactively test for errors: Mobile projects go through continuous release and integration cycles. Tracing performance problems to individual builds, files and even the specific line of code allows developers and enterprise operations teams to pinpoint an issue. This not only shortens the time to fix a problem, but also allows the organization to proactively seek solutions so that errors don’t occur again. 3. Bargains will cost a lot: According to Forrester, design and development costs, on average, range from $200,000 to $350,000, so each dollar is valued for performance. Low budget apps do not perform as expected, collects low ratings on app stores, taking a fee on brand value which costs more than adequate dollars spent on developing a performing app with a proven mobile partner. NEXT ISSSUE: Connect with Market Simplified on Linked-in | Facebook | Twitter | Google Plus | Pinterest mCommerce – a musthave application for Banks Benefit Customers in their Spend Cycle gomobi l e@marketsi mpli fi ed.com | + 91 044 3090 3090 | W W W .MARKETSIMPLIFIED.C OM

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