Journey of Mobility in Financial Landscape
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This document discusses the journey of mobility in the finance landscape. It outlines how digitalization and the rise of mobile technology has transformed daily life and the finance industry. A typical day in 2014 involves many mobile activities like banking, social media, music streaming, and mobile payments. The document also discusses the growth of mobile financial services, the mobile first strategy in retail banking, the skyrocketing of mobile payments, alternative payment methods like PayPal and Bitcoin, strategies for spreading mobile finance usage globally, and how wearable devices and the Internet of Things represent the next phase of mobile technology.
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Journey of Mobility in Financial Landscape
- 1. Journey of Mobility in Finance Landscape 26.03.2014, Istanbul Kerem Abuc Mobile Financial Services Digital Channels
- 2. Agenda Life Before Digital Revolution Digital Era At the heart of Digital World: Mobile A Typical Day in 2014 Mobile Financial Services Mobile First Mobile Payments Skyrocketed Alternative Payment Methods Strategies Mobile 3.0 Digitalization Before / After Mobilization Daily life impact Mobilization of Finance
- 3. Digitalization Before / After Mobilization Daily life impact Mobilization of Finance
- 4. Life Before Digital Revolution Banking was driven by; • capital-deployed • risk-management competencies • branch coverage Communications technology has been changed drastically with the digital era
- 5. Digital Era 1990 Digital born 2000 Spread to masses 2010 Digital Boom The way of communication changed radically • Way of listening to music (via Spotify in 2013) 4,5 B hours streamed 1,5 M times played in a single day – Get Lucky • Way of reading Lloyd’s List cease printing after 279 years • Way of watching 100+ hours of video streamed in each minute via Youtube
- 6. Digital Era 1990 Digital born 2000 Spread to masses 2010 Digital Boom The way of communication changed radically • Way of listening to music (via Spotify in 2013) 4,5 B hours streamed 1,5 M times played in a single day – Get Lucky • Way of reading Lloyd’s List cease printing after 279 years • Way of watching 100+ hours of video streamed in each minute via Youtube
- 7. Digital Era • Way of banking %50 US Adults bank online %33 of bank users only use self-service channels in Turkey %80 of all financial transactions occur via digital channels 1990 Digital born 2000 Spread to masses 2010 Digital Boom
- 9. %30 smartphon e penetration %45 facebook penetratio n Digital Era - Turkey 76M population %42 Internet users penetration %93 mobile penetration %30 twitter penetration
- 10. Digitalization Before / After Mobilization Daily life impact Mobilization of Finance
- 11. Mobile • Simply defined as on the go • Always on • Convenient • Immediate 2007 Gain strategic importance by Job’s reinvention 2010 Mobile became the primary platform
- 14. A Typical Day in 2014
- 15. Digitalization Before / After Mobilization Daily life impact Mobilization of Finance
- 16. Mobil Financial Services SMS Banking Mobile Browsers Native apps Mobile first • MAU in Turkey increased more than %100 in a year. Why? • Feel secure • Ease of use • Cost sensitivity
- 17. Mobile First • Mobile is evolved • Mobile first strategy is the new trend – Focused on the needs • Mobile-only apps are sold for billions Retail banking with a mobile first approach – Contextual Banking
- 18. Mobile First Retail banking with a mobile first approach in Turkey– Contextual Banking
- 19. Mobile Payments Skyrocketed • Electronic payments are increasing with double-digit percentage • M-payment is tripled in 3 years • According to Mastercard, all payments will be digital in 10 years WHY? • Penetration of smart phones • Increase of Internet usage • New technologies
- 20. Alternative Payment Methods Paypal is the leading company - $27B in mobile payment volume in 2013, up almost 100% over 2012 PayPal revenues represented 41% of eBay Inc. revenues in 2013 Bitcoin, the crypto-currency at the start of the year a single bitcoin could have been purchased for around $12, a gain of 10,250% from the year’s high.
- 21. Strategies Is it possible to implement the same method to spread mobile financial services usage across globe? Frontier Markets Unbanked population Based on telecom services Emerging Markets Hybrid solutions Developed Markets Digital wallets M-payments
- 22. Mobile 3.0 • Smartphones were the keys to Mobile 2.0 • Smart devices & internet of things represent Mobile 3.0 • Wearables & Living Services will change the users’ behavior • People tend to make payments in different ways Boondoggle Winter Wake-Up Nike - Fuel Band Withings Body Scale