10. 10
We know human attention
is dwindling
Source: Statistic brain
The average human
attention span in
2000 The average human
attention span in
2013
The average attention
span of a
goldfish
12
seconds
8
seconds
9
seconds
Why the fast and frictionless win
Source: Statistic brain
The average human
attention span in
2000 The average human
attention span in
2013
The average attention
span of a
goldfish
12
seconds
8
seconds
9
seconds
16. 16
2%
- of payments and
transfers by HSBC are
now done in a branch
- the proportion of all
digital banking by Halifax
now done on a mobile
phone
65%
Source: BBA
18. 18
10
15
20
25
30
35
40
45
50
55%
10 15 20 25 30 35 40 45 50 55%
Mobile interactions as a percentage of total interactions, 2013 and 2015
South Korea Netherlands
Mobile exceeds online
Online exceeds mobile
US
AustraliaChina
Singapore
Hong
Kong
Mexico
India
UK
France
Canada
Poland
Germany
Spain
Online interactions as a percentage of total interactions
Japan
2013 2015
Figure 4: Mobile is displacing online in banking
10
15
20
25
30
35
40
45
50
55%
10 15 20 25 30 35 40 45 50 55%
Mobile interactions as a percentage of total interactions, 2013 and 2015
South Korea Netherlands
Mobile exceeds online
Online exceeds mobile
US
AustraliaChina
Singapore
Hong
Kong
Mexico
India
UK
France
Canada
Poland
Germany
Spain
Online interactions as a percentage of total interactions
Japan
2013 2015
Average
Age 55 or more
Source: Bain/Research Now NPS surveys, 2015
Figure 4: Mobile is displacing online in banking
Mobile is displacing online in banking
Source: Bain Research
19. 19
0
5
10
15
20 20
17
15
14 14 14
12 12
12
11
10 10 9 9 9
6
2
Average number of routine interactions per respondent in last quarter, 2015
Netherlands
SouthKorea
France
Australia
US
UK
China
Spain
Poland
India
Singapore
Brazil
Mexico
HongKong
Canada
Germany
Japan
Smartphone app Tablet app Mobile browser
Figure 6: Consumers use apps more than mobile browsers
When banking, consumers instinctively reach for an app
Average number of routine interactions per respondent in last quarter, 2015
Source: Bain Research
73%
64%
20. 20
76% use banking apps
every week.
62% more than once a
week
Mobile b
Hardly ever, only when I really need it 10%
2%
Consumers’
connectivity
banking. O
app, more th
at least a fe
in 10 (20%)
A few times a week
42%
Once a week
14%
A few times a month
17%
Once a day
13%
A few times a year
5%
More than once a day
7%
http://newsroom.bankofamerica.com/files/doc_library/additional/2015_BAC_Trends_in_Consumer_Mobility_Report.pdf
22. 22
Every new mobile sensor and service,
has created new interaction opportunities that are avidly used.
Camera
OCR - Check Deposit
Video chat GPS
Location-based services
Wallets
Transactions & rewards
Push Notifications
Customer messaging
Biometrics (Touch-ID)
Customer authentication
Headphones
Accept payments
Source: Fiserve
27. 27
Millennials are nearly
twice as likely to switch
financial service provider
18%
10%
3%
Millennials (18-34) 35-54 55+
+80%
Source: Accenture, June 2015
Switched their primary bank last year
+600%
28. 28
Digital Services
33%18%
of Millennials switched
their primary bank within
the past 12 months.
stay with their bank
because of good digital
services.
WINNING MILLENNIAL CUSTOMERS
Source: Accenture, June 2015
Are the biggest factor for
Millennials deciding to
stay or switch.
31. 31
0
4
8
12%
24 28 32%
Online routine Mobile
app routine
Six
interactions
in last
quarter
ATM
Online
sales/service
Mobile
sales/service
Branch
sales/service
Phone
Chat/video
Increasing likelihood to delight
Reliable
Percentage of US respondents, 2015
Decreasinglikelihoodtoannoy
Annoying
Delightful
Variable
Notes: Responses on a scale from -5 to 5 for “to what extent did the interaction increase or decrease your likelihood to recommend your bank?”; likelihood to delight=percentage
Branch
routine
Mobile
browser
routine
Figure 1: Mobile is consistently more likely to delight than other channels
Mobile apps delight more than other channels
Source: Bain Research
32. 32
Revenue is higher with mobile
banking users.
• 46% increase in POS card transactions.
• 45% increase in monthly transaction from
$550 to $801.
Why? The app puts them more
in control of their finances
Source: Fiserv Mobile Banking Adoption: Where Is the Revenue for Financial Institutions
34. 34
Mobile banking customers
at the banks in the study –
not just new adopters – have
higher product holdings at
2.3 products vs. 1.3 for
branch-only customers.
The results are similar for
credit unions. Why do mobile
bankers typically use more
financial institution products
than those who don’t use
mobile banking? Consumers
who use mobile are likely
more engaged with their
financial institutions. As
the relationship between
consumers and financial
institutions deepens, it
enables other types of
engagement. If customers
have savings accounts, auto
loans and mobile banking with
a bank, for instance, they’re
more likely to think of that
financial institution
they need mortgag
financial services
As consumers use
products, they tur
banking to help th
increasingly comp
lives. This may lea
specifically seek o
banking capabilitie
an overall financia
2.3
Product
Holdings
1.3
Product
Holdings
Mobile Banking
Customers
Branch-Only
Customers
Deepening the Relationship
Mobile bankers typically use
more bank products.
Why? Mobile users are more engaged, and
have a deeper relationship with the bank,
enabling more product adoption.
Source: Fiserv Mobile Banking Adoption: Where Is the Revenue for Financial Institutions?
35. 35
Staying in control
The majority (81%) of mobile banking app users are also using banking notifications and alerts.
Gen X (ages 35-49) is the most likely to receive alerts in comparison to the other demographics (91%).
35%
35%
41%
43%
41%
27%
23%
18%
12%
41%
36%
45%
50%
41%
32%
28%
23%
20%
Total respondents Gen X
Bill payment due
Check/payment cleared
Deposit made
Low balance
Fraud/unusual activity
Account accessed via a new device
Credit card limit
New mobile banking functionality
Banking appointment reminder
http://newsroom.bankofamerica.com/files/doc_library/additional/
2015_BAC_Trends_in_Consumer_Mobility_Report.pdf
Staying in control
81% of mobile banking app
users use notifications and
alerts.
Staying in control
The majority (81%) of mobile banking app users are also using banking notifications and alerts.
Gen X (ages 35-49) is the most likely to receive alerts in comparison to the other demographics (91%).
35%
35%
41%
43%
41%
27%
23%
18%
12%
41%
36%
45%
50%
41%
32%
28%
23%
20%
Total respondents Gen X
Bill payment due
Check/payment cleared
Deposit made
Low balance
Fraud/unusual activity
Account accessed via a new device
Credit card limit
New mobile banking functionality
Banking appointment reminder
36. 36
UK
US
55–64
65+
45–54
55–64
45–54
35–44
25–34
18–24
65+
55–64
45–54
35–44
18–24
25–34
0% –5 –10–10 –15 –20
Channel experience score relative
to leading channel, which is
indexed to zero, 2015
The channel experience
for mobile applies across
age groups.
China
UK
55–64
18–24
45–54
35–44
55–64
45–54
35–44
18–24
25–34
25–34
Channel experience score relative to leading channel, which is indexed to zero, 2015
Mobile Online ATM Branch Phone
Source: Bain Research
37. 37
customers who had the best
past experiences spend 140%
more compared to those who
had the poorest past
experience.
https://hbr.org/2014/08/the-value-of-customer-experience-quantified
46. 46
There are over 20 different
products on this home page.
(And a hundred more startups
unbundling them).
Browse and self-serve doesn’t
work well on mobile.
47. 47
Think, and act, mobile first:
Simplify
banking
Solve people’s
problems
Save people
time
The future of banking isn’t products
it’s service experiences.
48. 48
Personalised to the
customer, reflects needs
and wants
Intuitive, simple to use,
simple to act.
Speaks in human,
jargon-free language
Omni-channel aware,
joined up experiences
Know what the data is
telling you.
Deliver at, or anticipates,
the moment of need
The future of banking isn’t products
it’s service experiences.
49. 49
25% of new users will use your app once.
Most 2-3 times.
Personalising onboarding transforms conversion
55. 55
ntrol
%) of mobile banking app users are also using banking notifications and alerts.
9) is the most likely to receive alerts in comparison to the other demographics (91%).
52%
35%
35%
41%
43%
41%
27%
23%
18%
12%
41%
36%
45%
50%
41%
32%
28%
23%
20%
Total respondents Gen X
Bill payment due
Check/payment cleared
Deposit made
Low balance
Fraud/unusual activity
Account accessed via a new device
Credit card limit
New mobile banking functionality
Banking appointment reminder
http://newsroom.bankofamerica.com/files/doc_library/additional/
2015_BAC_Trends_in_Consumer_Mobility_Report.pdf
55
66. 66
Every message is 1-touch programmable,
making interaction (and conversion) easy.
Interactive In-App Message
67. 67
An in-app message center saves
every important message.
Inbox’s can drive
engagement to over
80%.
68. 68
Think, and act, mobile first:
Simplify
banking
Solve people’s
problems
Save people
time
The future of banking isn’t products
it’s service experiences.
69. Thank you - any questions?
Tom Farrell - VP Marketing
Barry Nolan - VP Strategy