Taking Corporate Banking Mobile
•Download as PPTX, PDF•
3 likes•1,198 views
In light of global explosive growth in mobile banking and the financial services sector's dominant position in enterprise adoption of mobile, this presentation provides advice for optimizing the corporate mobile banking experience and discusses the compelling benefits of mobile. http://www.aciworldwide.com/events
Recommended
Recommended
More Related Content
What's hot
What's hot (20)
Viewers also liked
Viewers also liked (16)
Similar to Taking Corporate Banking Mobile
Similar to Taking Corporate Banking Mobile (20)
Taking Corporate Banking Mobile
- 1. Taking Corporate Banking Mobile 7 June, 2013 Confidential 1 John Tupper Senior Principal Solution Consultant USA Our software underpins electronic payments throughout retail and wholesale banking, and commerce, all the time, without fail. Yasuyuki Endoh, Senior Engineer, Japan
- 2. Agenda • Introduction • History of mobile banking • Moving from consumer to corporate banking • Industry adoption and growth in mobile banking • Optimizing the corporate banking mobile experience • Understanding what makes a corporate mobile offering successful • Corporate and employee benefits of mobile • Q&A 07 June 2013 Confidential 2
- 3. Historical Perspective on Mobile Banking 7 June, 2013 Confidential 3
- 4. History Repeats Itself “Our clients aren’t willing to use the public Internet for electronic banking.” –A Cash Management Executive, circa 2000 “…sees virtually no demand for mobile banking among midsize or large corporate clients.” –Director of Treasury Management for Iberia Bank quoted on CFO.com, November 2010 –A Bank Technology Executive, circa 1991 “That Windows thing is just a fad; our corporate clients will never adopt it.” 7 June, 2013 Confidential 4
- 5. The explosive growth in mobile banking began with consumers 7 June, 2013 Confidential 5
- 6. Consumer mobile payment adoption is global Source: ACI Worldwide study of 4,200 consumers in 14 countries, Q1 2012 13% 15% 21% 21% 23% 28% 30% 30% 35% 37% 45% 45% 48% 64% 66% France Canada Germany Australia U.K. Italy Sweden U.S. AVERAGE Brazil Singapore U.A.E. South Africa India China Percentage of Consumers That Used Mobile Phone to Make a Payment in the Last Six Months 7 June, 2013 Confidential 6
- 7. Industries Are Adopting Tablets at Different Speeds Source: Good Technologies Percentage of Enterprises Adopting iPad by Industry (2010) 36.8% 11.4%10.5% 8.8% 8.3% 4.4% 3.9% 3.1% 2.6% 2.2% 2.2% 5.7% Financial Services High Tech Healthcare Legal Government/Public Wholesale/Retail Business/Prof Services Entertainment Energy/Utilities Communications Manufacturing Other 7 June, 2013 Confidential 7
- 8. Executive Device Preferences Are Changing Rapidly Source: “The Untethered Executive: Business Information in the Age of Mobility,” Forbes Insights 87% 82% 76% 31% 27% 15% Laptop computer Smartphone Desktop computer Netbook computer Internet- enabled tablet WAP phone Percentage of executives reporting current use of devices for business purposes Percentage of responses to statement “I will use a tablet more frequently than a computer within the next three years” 28% 37% 10% 20% 5% Strongly agree Agree Don't know Disagree Strongly disagree 7 June, 2013 Confidential 8 2011
- 9. Enterprise Adoption of Mobile by Sector The Financial Services Sector Dominates Enterprise Usage Source: Good Technology 7 June, 2013 Confidential 9
- 10. The Ascent of Corporate Mobile Source: “Corporate Mobile Banking: Revolutionizing Cash Management”, Celent, Dec 2011 7 June, 2013 Confidential 10
- 11. Strategic Opportunities for Banks Mobile Banking • Using a mobile phone to access a bank account and make payments • Banks should actively invest and expand this channel now, in particular for corporate treasurers Mobile Commerce • Using a mobile phone to buy products • Driven by e- commerce companies looking to uplift their product sales and generate revenue from advertising • Banks should partner with these companies to learn and offer their financial services as part of that shopping experience Mobile Money Transfer (Mobile Person-to- Person or P2P) • Basic payment service to the un/underbanked in developing countries • Banks should consider bolder moves – partner with telco or launch their own global mobile money transfer service Source: “Mobile Payments: Three Winning Strategies for Banks,” SWIFT White Paper 7 June, 2013 Confidential 11
- 12. Optimizing the corporate banking mobile experience 7 June, 2013 Confidential 12
- 13. Need to update my cash flow forecast Let me see if that $30M payment arrived in our account in Taipei Security alerts for off-hours activity? I’ll have to the check approval status for today’s sweep. I’m running so late — good thing I can approve these wires before cutoff without going back to my office A Day in the Life of a Corporate Treasurer 7 June, 2013 Confidential 13
- 14. Key Features for a Multichannel Corporate Banking Solution Source: TowerGroup 7 June, 2013 Confidential 14 Features Description Data consistency Make balance information consistent across channels Current-day transaction data Make transactions available to all channels at same time Transaction initiation Perform initiation on appropriate channels, including business to bank (B2Bank) Transaction approval Approve transaction on any channel, regardless of how they are initiated Exception resolution Provide exception resolution on all channels Security administration Manage security functions on a cross-channel basis Entitlement management Enable administrators to entitle users online for all channels Client-level preferences Allow preferences to be set online for all channels Account management/onboarding Provide ability to view and approve eBAM or other onboarding requests, regardless of how initiated
- 15. Mobile Offering Should Consider Advances in Online Channel Technology advances have enabled a virtually unlimited number of customized user experiences • Dashboards • Portlets • Personalization • SOA • Enhanced branding and packaging • “Super-user” customization of reports and workflows that can be extended to the client • Analytics Source: TowerGroup 7 June, 2013 Confidential 15
- 16. Tailor the Experience to Maximize Value to the User Device considerations • How easy is it to perform data entry? • How much data can be presented on the screen at once? • Does the device have a touch screen? • How easy is it to multitask? • How do you optimize workflow to minimize “clicks”? 7 June, 2013 Confidential 16
- 17. Do Not Reinvent the Wheel to Support Additional Channels Leverage: • Existing entitlements framework • Existing interfaces • Enterprise (i.e., consumer) mobile infrastructure • Security investments (where it makes sense) 7 June, 2013 Confidential 17
- 18. Address Security with Both Channel-Appropriate Solutions and Cross-Channel Solutions • Most early-to-market smartphone solutions are relying on the same authentication methods in use for online portals • Physical tokens are not the most practical solution • Reliance on one-time password (OTP)-generating tokens proved to be vulnerable even before the recent breach into the RSA SecurID servers • Recent Zeus attacks on BlackBerry and Android devices demonstrate additional vulnerabilities • Distribution of applications through app stores increases potential for introduction of malware • Tendency of tablet users to transfer sensitive business data at higher rates than those using smartphones is a concern that needs to be addressed 7 June, 2013 Confidential 18
- 19. Assessing the Options/Things to Consider Access channels • Web/Browser-based • Native Application • SMS Text Device Support • Android, Blackberry, iOS, etc. Security • Authentication /Tokens • Transaction monitoring Features • Remote Deposit Capture (RDC) • Entitlements • Approvals Cost 07 June 2013 Confidential 19
- 20. A Fully Realized Corporate Mobile Offering Rich Feature Set Broad Device Support Leveraged Infrastructure Layered Security Enterprise Entitlements Real Time and Consistent Data Unique Offerings to Drive Loyalty 7 June, 2013 Confidential 20
- 21. Corporate and employee benefits of mobile 7 June, 2013 Confidential 21
- 22. Benefits of Mobile Banking to Your Customer Base Corporate ‒ Continuity of job performance ‒ Anytime, anywhere access ‒ Anytime, anywhere visibility ‒ Uninterrupted customer support ‒ Simplified operations ‒ Enhanced User Security Employee ‒ Continuity of tasks ‒ Time management ‒ Anytime, anywhere access ‒ Job satisfaction ‒ Location Based Services ‒ One Click Access to Support 7 June, 2013 Confidential 22
- 23. Questions 7 June, 2013 Confidential 23
- 24. Speaker Information John Tupper Senior Principal Solutions Consultant ACI Worldwide, Inc. john.tupper@aciworldwide.com +1-704-423-8737 Visit ACI @ SIBOS Hall 2 Stand #2A07 07 June 2013 Confidential 24
Editor's Notes
- But before we go there, I’d like to take a little walk down memory lane. Because I am a firm believer that history repeats itself and that certainly applies to the evolution of corporate electronic banking technology for better or for worse. Now before I add text to this slide, I just want to make the following disclaimer: all buildings appearing in this presentation are fictional. Any resemblance to actual buildings – living or dead – is purely coincidental. In about 1991, a bank IT executive in this fictional building told a cash management product manager that she should forget about investing in a leading edge windows based electronic banking system. About 9 years later, in this fictional building a cash management product executive told a software consultant that no corporate clients would be willing to use the public internet for electronic banking. And in this final fictional building, just a few months ago, a Director of Treasury Management for a real life bank told a reporter that there is virtually no demand for mobile banking among his midsize or large corporate clients. I think you get my drift. With every innovation in channels, you can find the naysayers that insist that things are going to stay the same. So much for sustainable innovation.
- From Celent: Adoption of corporate mobile banking solutions has clearly been slowmoving. It’s still going to be an uphill climb to bring more banks onboard. Even with the additional realizations, it’s still a question ofmatching up client demands, IT budgets, and product prioritizations.Today, only 10 of the top 25 US banks offer some form of corporatemobile banking solution. If the list is narrowed down to the top 10banks, the figures are more encouraging—eight of the top 10 bankshave solutions in place. Based on Celent’s analysis, we expect this figureto inch up to 12 of the top 25 in 2012, and to 15 banks in 2013.
- Harris poll – Jan 2011 - While 30 percent of the 2,300-plus adults polled in a late-January survey admitted to using their smartphones to transfer sensitive data, 48 percent of tablet owners said the same. Additionally, 20 percent of tablet owners said they transfer sensitive data for business use, while 42 percent said the data was personal. Among smartphone owners, 26 percent said they transferred personal data, while 14 percent said the data was for professional use.
- RDC:Wells Fargo recently announced its CEO Mobile Deposit service for corporate banking customers. Wells Fargo touts benefits such as improving cash flow through expedited deposits and an extended deposit deadline.