48. VISIT US AT
BOOTH 4I04
WWW.MISTRALMOBILE.COM
INFO@MISTRALMOBILE.COM
TWITTER @MISTRALMOBILE
Editor's Notes
Worldwide mobile penetration is above 90%Few exceptions; Burma <5%
Who here is ready to hand over the mobile phone to their neighbor?How about your PC?How about using the same ATM?How about going to the same bank branch?
WHO WILL OWN RETAIL BANKING IN FUTURE?
People have lots of differen types of mobile phones with different capabilities. Some have smartphones (all Singaporeans do), some have low-end phones. Some have mobile data, some have not.
People have lots of differen types of mobile phones with different capabilities. Some have smartphones (all Singaporeans do), some have low-end phones. Some have mobile data, some have not.
for 48% it’s the prime factor, and especially high amongst the youth – and when considering switching a bank – robust mobile banking experience reduces customer switching considerataions by 50% (AlixPartners Mobile Financial Services Tracking Sudy 2012)The user interface which is in the hands of your customer is the most PERSONAL link between you and the customer besides the staff at your branch. So you want to make sure your customer feels appreciated. Which is going to be hard to achieve if you consider mobile being just an extension of online. Mobile provides capabilities which are not available online, such as personal contacts. People have emotional attachment to their mobiles, not with their PCs (and consider tablets being part of mobiles here)
So you want to make sure your customer feels appreciated. Which is going to be hard to achieve if you consider mobile being just an extension of online. Mobile provides capabilities which are not available online, such as personal contacts. People have emotional attachment to their mobiles, not with their PCs (and consider tablets being part of mobiles here)
Simple SMS, SMS/IVR, USSD and SIM toolkit based solutions for with any mobile phone, and hence allow servicing anyone throught these alternatives. All of these are text based, with SMS/IVR including a voice component to provide security not available with plain SMS solution. With USSD and SIM toolkit the role of the mobile operator is high as they control these access methods.
Native applications and browser-based solutions then require mobile phone to have more advanced capabilities. Featurephones and smartphones do. Both these provide graphical experience to the user. Native applications are dependent on the operating system, or engine, of the phone whereas browser-based approach can be used with any phone having a browser. Browser-based approach, however, does not offer as high security as native applications and the user experience when using with a browser is much more compromised than with native applications.
This phone costs $6K but doesn’t even support JAVA applications!If you want to support all your users with great user experience each of these needs a bit different treatment. Which is fine to begin with but gets interesting when you eventually need to update the stuff. More on that later.
Your customer uses his phone, which in turn needs to talk to your transaction system. In the online work, this is handled with data traffic. In the mobile world, there is mobile data to do the same trick. The fat pipe. But not all of your customer may not have data connections (exclude Singapore – everyone does
Strange bedfellow
New applicationupdates are needed maybe 2-4 times per year to deliver new features, updates to existing features and what nots. If you think you don’t need to do it that often then likely you are falling out of the race amongst your competitors.
But then each tx causes also traffic to the tx system – everytime a person checks their balance, it creates more load. And it costs money to have enough capacity at backend to handle the load. Should not the load be optimized only for financial tx which actually exchange value? Balance queries run typically about 3:1 against financial tx, so smart solution (ie balance maintained in app and updated everytime there is a financial tx, or notification from system) can reduce the backend load caused by mobile transaction requests by 2/3.
But then each tx causes also traffic to the tx system – everytime a person checks their balance, it creates more load. And it costs money to have enough capacity at backend to handle the load. Should not the load be optimized only for financial tx which actually exchange value? Balance queries run typically about 3:1 against financial tx, so smart solution (ie balance maintained in app and updated everytime there is a financial tx, or notification from system) can reduce the backend load caused by mobile transaction requests by 2/3.
But then each tx causes also traffic to the tx system – everytime a person checks their balance, it creates more load. And it costs money to have enough capacity at backend to handle the load. Should not the load be optimized only for financial tx which actually exchange value? Balance queries run typically about 3:1 against financial tx, so smart solution (ie balance maintained in app and updated everytime there is a financial tx, or notification from system) can reduce the backend load caused by mobile transaction requests by 2/3.