Fiserv white paper on how the advancement of mobile banking - particularly next generation features and functionality - are driving return on investment for financial institutions
Mobile Banking in 2020 - Mobile World Congress ReportNadejda Tatarciuc
Present report was presented at Mobile World Congress this year, showing the outlook for mobile banking by 2020! - how a younger world, more internet, crime, and activist governments will affect mobile banking penetration.
Private Banking: Redefining the Game Through MobilityCognizant
Today's sophisticated mobile devices have made it possible for bank customers to perform most banking transactions remotely - without having to visit their bank's branch offices. However, the nature of the private banking business and the profile of the clientele make this challenging. An all-inclusive, cross-platform app for private banking can provide more visibility into customers' and banks' needs and potentially become the primary channel for private banking, rather than merely an add-on.
Mobile Banking in 2020 - Mobile World Congress ReportNadejda Tatarciuc
Present report was presented at Mobile World Congress this year, showing the outlook for mobile banking by 2020! - how a younger world, more internet, crime, and activist governments will affect mobile banking penetration.
Private Banking: Redefining the Game Through MobilityCognizant
Today's sophisticated mobile devices have made it possible for bank customers to perform most banking transactions remotely - without having to visit their bank's branch offices. However, the nature of the private banking business and the profile of the clientele make this challenging. An all-inclusive, cross-platform app for private banking can provide more visibility into customers' and banks' needs and potentially become the primary channel for private banking, rather than merely an add-on.
A new study on development organizations’ use of Mobile Money Bulk Payment Products carried out by NetHope. The report, based on qualitative and quantitative research, highlights a desire to move away from cash; usage of mobile money bulk payments; preferences and recommendations for design features of the products; and the estimated volume and value of this market segment.
Segment-Based Strategies for Mobile BankingCognizant
While retail banks have widely accepted mobile banking as a primary service channel, they can now apply customer segmentation tactics to develop mobile strategies, optimize customer retention and acquisition, and increase the adoption of mobile services.
CPNI Mobey Forum Mobile Payment Trusted Service Provider Sept 23 2008The Stilwater Group
Mobey Forum quarterly meeting Sept 23, 2008. The opportunity for banks and the entire mobile payment ecosystem created by focusing on remote mobile payments.
This presentation explores what future of commerce may look like given the current trends in mobile devices, digital payments, social commerce and security including tokenization and new forms of identity verification
Digitizing Merchant Payments: What Will It Take?CGAP
A staggering amount of cash is paid to retail merchants worldwide -- around $19 trillion out of a total of $34 trillion in payments. What will it take for digital payments to beat cash?
In this presentation, we look at this issue, the steps the banking community need to get right to engage with modern consumers and how to develop powerful mobile—based propositions that people actually want to use.
Presentation on mobile payments and mobile money at the June 2013 SmarterCommerce Global Summit in Monaco. Includes description of relevant IBM product families that support mobile money and mobile payments.
Gen Y consumers will earn 46% of the income in the United States by 2025, but they’re often misunderstood or ignored by financial services providers. This is especially true when it comes to online and mobile behavior and attitudes toward traditional banking.
Understanding this problem and designing to overcome it is critical to our work at Comrade, so we’re pleased to have partnered with Javelin Strategy & Research to publish “The Three Costliest Myths about Gen Y". This report applies consumer data to dispel the myths circulating in financial services today about Gen Y consumers. Beyond exposing pervasive misconceptions, it also explains how to optimize digital and physical touchpoints to attract tomorrow’s most profitable bank customers.
Building profitable relationships with multichannel consumersPaul McAdam
Building Profitable Relationships with Multi-Channel Consumers is the first in a series of Consumer Insight Briefs based on primary research conducted by FIS™ Enterprise Strategy. The research findings are based on a 42-question, online survey completed by more thanover 4,000 U.S. consumers in early September 2010. The survey was fielded by FIS Enterprise Strategy to a consumer panel maintained by Survey Sampling International. The estimated margin of error rate for this sample is +/-1.6% to 2.3%.
Mobile is a Marathon - Fiserv White Papermistervandam
The mobile channel is here to stay, and enabling compelling mobile financial services requires discipline, planning, preparation and a sustained investment of both time and energy, much like training for a marathon.
The Future of Bank Branches Coordinating Physical with DigitalCapgemini
Digital Technologies will Accelerate Branch Transformation, Not Make Them Extinct
Retail banking is evolving at an accelerated pace. Globally, banks are facing disruptions from multiple directions. Business and economic realities have reduced the total number of US bank branches by 3,000 between 2009 and 2012 - a decrease of 3% over the 3-year period. In Spain alone, banks have closed 5,000 branches or 12% of their overall capacity since the financial crisis began in 2008, lowering the total branch count to approximately 40,000 in 2012.
That is not all. Digital technologies have also brought a significant shift in consumer banking behavior. The percentage of US banking customers who prefer to bank online jumped to 62% in 2011, up from 36% the previous year. Today, four of the top five transactional banking activities in North America – bill pay, viewing balances/transactions, viewing statements and money transfer – are happening online.
This brings us to the key question of this paper: do brick-and-mortar branches have a role to play in the future of retail banking?
This presentation on Mobile Banking was given via webinar on May 3rd. The presentation goes into detail regarding predictions on consumer adoption of Mobile Banking.
A new study on development organizations’ use of Mobile Money Bulk Payment Products carried out by NetHope. The report, based on qualitative and quantitative research, highlights a desire to move away from cash; usage of mobile money bulk payments; preferences and recommendations for design features of the products; and the estimated volume and value of this market segment.
Segment-Based Strategies for Mobile BankingCognizant
While retail banks have widely accepted mobile banking as a primary service channel, they can now apply customer segmentation tactics to develop mobile strategies, optimize customer retention and acquisition, and increase the adoption of mobile services.
CPNI Mobey Forum Mobile Payment Trusted Service Provider Sept 23 2008The Stilwater Group
Mobey Forum quarterly meeting Sept 23, 2008. The opportunity for banks and the entire mobile payment ecosystem created by focusing on remote mobile payments.
This presentation explores what future of commerce may look like given the current trends in mobile devices, digital payments, social commerce and security including tokenization and new forms of identity verification
Digitizing Merchant Payments: What Will It Take?CGAP
A staggering amount of cash is paid to retail merchants worldwide -- around $19 trillion out of a total of $34 trillion in payments. What will it take for digital payments to beat cash?
In this presentation, we look at this issue, the steps the banking community need to get right to engage with modern consumers and how to develop powerful mobile—based propositions that people actually want to use.
Presentation on mobile payments and mobile money at the June 2013 SmarterCommerce Global Summit in Monaco. Includes description of relevant IBM product families that support mobile money and mobile payments.
Gen Y consumers will earn 46% of the income in the United States by 2025, but they’re often misunderstood or ignored by financial services providers. This is especially true when it comes to online and mobile behavior and attitudes toward traditional banking.
Understanding this problem and designing to overcome it is critical to our work at Comrade, so we’re pleased to have partnered with Javelin Strategy & Research to publish “The Three Costliest Myths about Gen Y". This report applies consumer data to dispel the myths circulating in financial services today about Gen Y consumers. Beyond exposing pervasive misconceptions, it also explains how to optimize digital and physical touchpoints to attract tomorrow’s most profitable bank customers.
Building profitable relationships with multichannel consumersPaul McAdam
Building Profitable Relationships with Multi-Channel Consumers is the first in a series of Consumer Insight Briefs based on primary research conducted by FIS™ Enterprise Strategy. The research findings are based on a 42-question, online survey completed by more thanover 4,000 U.S. consumers in early September 2010. The survey was fielded by FIS Enterprise Strategy to a consumer panel maintained by Survey Sampling International. The estimated margin of error rate for this sample is +/-1.6% to 2.3%.
Mobile is a Marathon - Fiserv White Papermistervandam
The mobile channel is here to stay, and enabling compelling mobile financial services requires discipline, planning, preparation and a sustained investment of both time and energy, much like training for a marathon.
The Future of Bank Branches Coordinating Physical with DigitalCapgemini
Digital Technologies will Accelerate Branch Transformation, Not Make Them Extinct
Retail banking is evolving at an accelerated pace. Globally, banks are facing disruptions from multiple directions. Business and economic realities have reduced the total number of US bank branches by 3,000 between 2009 and 2012 - a decrease of 3% over the 3-year period. In Spain alone, banks have closed 5,000 branches or 12% of their overall capacity since the financial crisis began in 2008, lowering the total branch count to approximately 40,000 in 2012.
That is not all. Digital technologies have also brought a significant shift in consumer banking behavior. The percentage of US banking customers who prefer to bank online jumped to 62% in 2011, up from 36% the previous year. Today, four of the top five transactional banking activities in North America – bill pay, viewing balances/transactions, viewing statements and money transfer – are happening online.
This brings us to the key question of this paper: do brick-and-mortar branches have a role to play in the future of retail banking?
This presentation on Mobile Banking was given via webinar on May 3rd. The presentation goes into detail regarding predictions on consumer adoption of Mobile Banking.
With the potential to create everything from new revenue opportunities, to increased customer acquisition to cost savings, mobile is changing the landscape of banking as we know it. The rollout of foundational mobile services is already yielding tremendous success, and by increasing security while keeping a keen eye on user experience, leading banks and financial services providers can offer more advanced mobile services, which will play a key role in their growth strategies.
By broadening mobile banking offerings, financial institutions will be positioned to increase mobile transactions, shift transactions away from higher-cost channels, and retain and attract more customers.
To be successful with mobile, VASCO understands that banks need to pay close attention to the security of mobile applications and consumers, without creating challenges for the user experience.
Smart mobility in the financial sector has helped financial institutions to reach millions of customers through mobile services. Mobility adoption has helped financial industry to provide enhanced services to their customers like mobile banking, mobile money, mobile payment of utility bills, and much more.
To win against non-traditional competitors, retail banks must streamline operations and create innovative products and services, based on mobile, social and analytics technologies.
Mobile Remote Deposit Capture: Changing how consumers bank and banks competeMitek
Released: October 2011
Without a doubt, the introduction of the mobile smartphone—specifically Apple’s release of its first iPhone
in 2007—has dramatically transformed how consumers engage with friends, family, and business.
The small hand-held device that consumers “don’t leave home without” manages social lives, provides access to music and entertainment, keeps track of appointments, and generally has become the primary tool for managing all dimensions of the busy lives of today’s consumers.
One of the most significant areas of our lives that mobile technology is transforming is how we manage our
money. Financial services providers are recognizing consumers’ mobile lifestyles and preferences and are
developing capabilities that allow consumers to have the bank in their pocket. Now we can use our phones
to check balances, transfer funds, and make payments. Moreover, these capabilities, once at the forefront of
innovation, are quickly becoming table stakes. Going forward, to effectively meet the demands of consumers
for newer, more convenient, and more relevant apps, banks must continually seek new, innovative, and relevant
mobile capabilities.
One recently introduced mobile app that is proving to be a disruptive technology and driving force in
consumers’ adoption of mobile financial services is Mobile Remote Deposit Capture, or Mobile RDC—the
ability to deposit a check using a camera-equipped smartphone. Understanding the role Mobile RDC will
play in the bank selection process of consumers, and as a result, how banks compete, has become critical.
Toward that goal, this paper explores how:
• Mobile RDC is becoming the critical element in consumer bank selection and bank mobile strategy
• Mobile banking and Mobile RDC offer compelling economics to the financial services providers
that deploy them
• The market potential for mobile banking and Mobile RDC is strong
• Mobile banking and Mobile RDC can enhance banks’ customer value proposition
Mobile RDC is becoming a critical element in consumer bank selection and bank mobile strategy:
•Smartphone adoption is accelerating:
Over 40% of U.S. adults are forecasted to have a smartphone within
the next two years which will drive mobile banking adoption and specific features such as Mobile RDC.
• Consumers are highly interested in Mobile RDC: the percentage of consumers “extremely likely or likely to
adopt” Mobile RDC has doubled from 9% to 18% from 2009 to 2011
•Consumers readily embrace the convenience offered by Mobile RDC: the top reasons that consumers adopt
Mobile RDC include the urgency to have the check deposited for safekeeping, need for cash, and ease
of use.
Implementation of Mobile Banking in Bangladesh: Opportunities and ChallengesIOSR Journals
ABSTRACT:Mobile banking is a newly added service in the banking sector that facilitates banking via mobile devices. With the tremendous growth in mobile phone usage, banks in the developed world have moved to utilize mobile banking, which makes banking easier, faster, and very cost-effective. Mobile phones have quickly emerged as a successful and popular means of communication in recent years and the researchers believe that growth of mobile banking in Bangladesh is inevitable, especially when banks do not have sufficient number of branches in the rural areas of Bangladesh. The purpose of this research is to assess the Opportunities and Challenges of mobile banking in this country. To accomplish this empirical study, multiple banks have been surveyed which either currently have an operational mobile banking in place or planning to introduce one in the near future. The research shows tremendous potential for mobile banking in Bangladesh and reveals some of the key barriers of progress as well. KEYWORDS:Banking Sector, Mobile banking, Mobile Phone, Rural Areas, Telecommunication.
Disruption, mobile and financial servicesNadya Powell
A presentation given for the IPA on disruption, mobile and financial services. Three strategies to employ and the best disruptive uses of mobile out there. Thanks to Zoe Decool for research help.
Perspective- Multi Channel Banking: A Five Point Strategy Infosys Finacle
The last two decades have witnessed a paradigm shift in the way people bank. While the shift from branches to ATM based cash withdrawals and from there on to internet banking was slow, it has been a different story in the case of mobile banking. The growth in adoption of mobile banking over the last three years has been tremendous. Many banks have rolled out internet banking, mobile banking, call centers, ATM based transactions and video banking. But, have banks moved from multiple channels to true multi-channel banking with seamless cross channel experiences?
Here we explore a five point strategy that would empower banks and financial institutions to define a robust multi-channel offering.
U.S. Retail Banking: Prescriptions for Channel Integration and BeyondCognizant
To achieve the dual goals of satisfying tech-savvy customers and boosting the bottom line, banks must first lay the foundation for integrated channels and fulfillment processes. Here is how they can embark on this two-laned path.
The Fiserv Consumer Trends Survey is one of the industry's longest running surveys of consumer financial habits. It highlights opportunities for financial institutions to better understand and expand their digital reach to all consumer segments.
Opportunities for disruption in Financial Services (with a mobile focus)Nadya.Powell
A talk given at the IPA on opportunities for disruption in Financial Services with a focus on mobile. Three strategies to employ, case studies and three golden rules. Thanks to Zoe Decool for research help.
South Africa: A Digital Innovation Hub for Financial ServicesSeymourSloan
South Africa is fast becoming one of the leading digital players in financial services along with Kenya and Tanzania. This piece explores how they have succeeded where others have stalled.
Similar to Next Generation Mobile Banking and Return on Investment (20)
Observability Concepts EVERY Developer Should Know -- DeveloperWeek Europe.pdfPaige Cruz
Monitoring and observability aren’t traditionally found in software curriculums and many of us cobble this knowledge together from whatever vendor or ecosystem we were first introduced to and whatever is a part of your current company’s observability stack.
While the dev and ops silo continues to crumble….many organizations still relegate monitoring & observability as the purview of ops, infra and SRE teams. This is a mistake - achieving a highly observable system requires collaboration up and down the stack.
I, a former op, would like to extend an invitation to all application developers to join the observability party will share these foundational concepts to build on:
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
UiPath Test Automation using UiPath Test Suite series, part 5DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 5. In this session, we will cover CI/CD with devops.
Topics covered:
CI/CD with in UiPath
End-to-end overview of CI/CD pipeline with Azure devops
Speaker:
Lyndsey Byblow, Test Suite Sales Engineer @ UiPath, Inc.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Securing your Kubernetes cluster_ a step-by-step guide to success !KatiaHIMEUR1
Today, after several years of existence, an extremely active community and an ultra-dynamic ecosystem, Kubernetes has established itself as the de facto standard in container orchestration. Thanks to a wide range of managed services, it has never been so easy to set up a ready-to-use Kubernetes cluster.
However, this ease of use means that the subject of security in Kubernetes is often left for later, or even neglected. This exposes companies to significant risks.
In this talk, I'll show you step-by-step how to secure your Kubernetes cluster for greater peace of mind and reliability.
GraphSummit Singapore | The Future of Agility: Supercharging Digital Transfor...Neo4j
Leonard Jayamohan, Partner & Generative AI Lead, Deloitte
This keynote will reveal how Deloitte leverages Neo4j’s graph power for groundbreaking digital twin solutions, achieving a staggering 100x performance boost. Discover the essential role knowledge graphs play in successful generative AI implementations. Plus, get an exclusive look at an innovative Neo4j + Generative AI solution Deloitte is developing in-house.
In the rapidly evolving landscape of technologies, XML continues to play a vital role in structuring, storing, and transporting data across diverse systems. The recent advancements in artificial intelligence (AI) present new methodologies for enhancing XML development workflows, introducing efficiency, automation, and intelligent capabilities. This presentation will outline the scope and perspective of utilizing AI in XML development. The potential benefits and the possible pitfalls will be highlighted, providing a balanced view of the subject.
We will explore the capabilities of AI in understanding XML markup languages and autonomously creating structured XML content. Additionally, we will examine the capacity of AI to enrich plain text with appropriate XML markup. Practical examples and methodological guidelines will be provided to elucidate how AI can be effectively prompted to interpret and generate accurate XML markup.
Further emphasis will be placed on the role of AI in developing XSLT, or schemas such as XSD and Schematron. We will address the techniques and strategies adopted to create prompts for generating code, explaining code, or refactoring the code, and the results achieved.
The discussion will extend to how AI can be used to transform XML content. In particular, the focus will be on the use of AI XPath extension functions in XSLT, Schematron, Schematron Quick Fixes, or for XML content refactoring.
The presentation aims to deliver a comprehensive overview of AI usage in XML development, providing attendees with the necessary knowledge to make informed decisions. Whether you’re at the early stages of adopting AI or considering integrating it in advanced XML development, this presentation will cover all levels of expertise.
By highlighting the potential advantages and challenges of integrating AI with XML development tools and languages, the presentation seeks to inspire thoughtful conversation around the future of XML development. We’ll not only delve into the technical aspects of AI-powered XML development but also discuss practical implications and possible future directions.
Climate Impact of Software Testing at Nordic Testing DaysKari Kakkonen
My slides at Nordic Testing Days 6.6.2024
Climate impact / sustainability of software testing discussed on the talk. ICT and testing must carry their part of global responsibility to help with the climat warming. We can minimize the carbon footprint but we can also have a carbon handprint, a positive impact on the climate. Quality characteristics can be added with sustainability, and then measured continuously. Test environments can be used less, and in smaller scale and on demand. Test techniques can be used in optimizing or minimizing number of tests. Test automation can be used to speed up testing.
Removing Uninteresting Bytes in Software FuzzingAftab Hussain
Imagine a world where software fuzzing, the process of mutating bytes in test seeds to uncover hidden and erroneous program behaviors, becomes faster and more effective. A lot depends on the initial seeds, which can significantly dictate the trajectory of a fuzzing campaign, particularly in terms of how long it takes to uncover interesting behaviour in your code. We introduce DIAR, a technique designed to speedup fuzzing campaigns by pinpointing and eliminating those uninteresting bytes in the seeds. Picture this: instead of wasting valuable resources on meaningless mutations in large, bloated seeds, DIAR removes the unnecessary bytes, streamlining the entire process.
In this work, we equipped AFL, a popular fuzzer, with DIAR and examined two critical Linux libraries -- Libxml's xmllint, a tool for parsing xml documents, and Binutil's readelf, an essential debugging and security analysis command-line tool used to display detailed information about ELF (Executable and Linkable Format). Our preliminary results show that AFL+DIAR does not only discover new paths more quickly but also achieves higher coverage overall. This work thus showcases how starting with lean and optimized seeds can lead to faster, more comprehensive fuzzing campaigns -- and DIAR helps you find such seeds.
- These are slides of the talk given at IEEE International Conference on Software Testing Verification and Validation Workshop, ICSTW 2022.
Alt. GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using ...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
Why You Should Replace Windows 11 with Nitrux Linux 3.5.0 for enhanced perfor...SOFTTECHHUB
The choice of an operating system plays a pivotal role in shaping our computing experience. For decades, Microsoft's Windows has dominated the market, offering a familiar and widely adopted platform for personal and professional use. However, as technological advancements continue to push the boundaries of innovation, alternative operating systems have emerged, challenging the status quo and offering users a fresh perspective on computing.
One such alternative that has garnered significant attention and acclaim is Nitrux Linux 3.5.0, a sleek, powerful, and user-friendly Linux distribution that promises to redefine the way we interact with our devices. With its focus on performance, security, and customization, Nitrux Linux presents a compelling case for those seeking to break free from the constraints of proprietary software and embrace the freedom and flexibility of open-source computing.
2. Fiserv White Paper
Next Generation Mobile Banking:
Transactions Increase Potential Return on Investment
Tuning in to the Mobile Channel
Consumers expect to be able to bank via any channel
they desire, at any time of day, in person or while on
the go. The “always on” nature of online banking has
made it a preferred way for many consumers to manage
their accounts and view and pay bills. Yet, transaction
volumes indicate that the majority of consumers still
also rely upon the branch, interactive voice response
(IVR) and calls to the contact center for basic financial
services, such as checking their account balances and
transferring funds. With the advent of mobile banking
via smartphones and tablets, valuable consumer
segments have come to consider the mobile channel to
be the preferred method to access basic services.
TowerGroup predicts continued growth of mobile
banking to reach 17 billion transactions in 2015. As the
financial industry makes additional mobile transactions
possible, the potential return on investment (ROI)
will increase as consumers shift to the faster, more
convenient and less expensive mobile channel to pay
bills and make deposits.
Phase One Now Complete: Mobile Banking Basics
Along with consumer adoption and usage of mobile
devices, the demand for mobile banking and
payments has grown. According to Javelin Strategy
& Research, more than half of mobile phone owners
will be using mobile banking by 2016 (see Figure 1).
Financial institutions have responded by implementing
solutions that allow customers to perform basic
transactions via their mobile devices. According to
a study commissioned by Fiserv and conducted by
Forrester in 2011, most leading financial institutions offer
introductory or “foundational” mobile banking services
to enable their customers to conduct basic financial
To consumers, mobile devices are more
than just phones. Smartphones and tablets
provide connectivity to a world of friends,
family, business associates, social media,
commerce sites and transactional activities.
The phenomenal growth of the mobile
channel has grabbed the attention of financial
institutions. Mobile banking now plays a
key role in the growth strategies of leading
players and the rollout of basic services has
yielded success. As a result, many institutions
are examining the value of expanding
mobile banking to include a full complement
of transactional and interactive services.
Research provides practical insight and
experiential data to help financial institutions
project how next generation mobile banking
capabilities have the potential to create both
revenue opportunities and cost savings.
By broadening mobile banking offerings,
financial institutions will be positioned
to increase mobile transactions, shift
transactions away from higher-cost channels,
and retain and attract more customers.
3. Fiserv White Paper
• Check balances
• Make transfers between accounts
• View account history
• Pay household bills
• Locate ATMs and branches
In addition to these services, short message service
(SMS) alerts that provide balance updates and inform
about potentially fraudulent activities are also a
commonly offered mobile banking service that can be
considered to be foundational.
Many of the financial institutions that offer these
foundational mobile banking services have seen
immediate value from the mobile channel as evidenced
by TowerGroup research published about mobile banking
use at SunTrust Bank, detailed below.
Mobile Banking ROI at SunTrust Bank
In 2010, Atlanta-based SunTrust Bank investigated
the relationship between mobile banking usage and
customer profitability, results of which have been
detailed in a TowerGroup research note, “SunTrust
Consumer Mobile Banking Value Analysis.” At the
time, SunTrust Bank had foundational mobile banking
services in place, including account balance inquiries,
funds transfer, bill pay and alerts. In the study, mobile
banking users were compared to one of the bank’s most
profitable segments – online banking users. Mobile
banking users were found to have more institutional
value than online users who had yet to use the mobile
channel. The study determined that:
tasks (see Figure 2). These services include access to
account information and integrate tightly with core and/
or online banking services.
2010A
Compound Growth – 21%
Mobile banking users Mobile phone owners using mobile banking
2011A 2012 2013 2014 2015 2016
35
19%
29%
33%
38%
42%
46%
51%
57
68
79
89
99
111
Bill payment
90%
90%
20%
10%
10%
10%
90%
Yes
Transfers between accounts at your institution
ATM Branch Locator
Contactless/Point of Sale (POS) (pilot only)
Transfers between institutions
Person-to-person (P2P) payments
Remote deposit capture
Figure 1: U.S. Mobile Banking Adoption
Figure 2: The Basic Services are in Place
Which of the following services does your financial institution offer via
mobile devices today?
U.S. mobile banking users in millions.
Source: Javelin Strategy & Research
Base: Ten Mobile Strategists at top tier U.S. banks and credit unions. Source:
“Mobile Banking and Payments Update,” a commissioned study conducted by
Forrester on behalf of Fiserv
Based on the services the respondents have almost
universally deployed, foundational mobile banking
services include:
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4. Fiserv White Paper
• Customer Retention – Mobile banking customers
have deeper relationships with their financial
institutions and have been proven to be among
the least likely to attrite. This increased customer
stickiness can result in measurable recurring revenue
for financial institutions.
• Reduced Channel Costs – Mobile banking enables
the migration of customers from high-cost offline
channels, such as the call center and branch, to the
lower cost, higher convenience mobile channel. To
project savings, financial institutions must first know
the average transaction costs of each banking channel
and determine how the expense will be offset by
diversion to the mobile channel. According to Fiserv
data (compiled from interviews with several financial
institutions ranging from $2B to $28B in assets), a
good rule of thumb is to assume that the potential
exists for 20 percent of all transactions to migrate to
the mobile channel over the course of a year.
• Transaction Generation – Mobile banking use
encourages value-generating activities such as
debit card usage. In the TowerGroup/SunTrust
study, mobile banking customers demonstrated the
propensity to make more debit card transactions
per month, likely because they were better able to
validate their account balances from mobile devices
when making purchases at the point of sale (POS).
Assuming results similar to the behaviors of
SunTrust customers, if the active mobile banking
user generates 40 additional debit card purchases
per year at today’s interchange rate of $0.06 per
debit card transaction, additional card revenue could
potentially equate to $2.40 (annualized) per active
mobile banking user.
• Mobile Banking Users Less Likely to Leave – The
attrition rate for all mobile banking customers was
40 percent lower than that of online banking users,
and the attrition rate for customers using both mobile
banking and bill pay was 53 percent lower than that of
online banking users
• Mobile Banking Customers More Profitable – SunTrust
found their customers using mobile banking were 32
percent more profitable and customers using mobile
banking and bill pay were 46 percent more profitable
than online banking customers
• Mobile Banking Generates Activity – Mobile banking
customers used their debit cards more frequently
after enrolling in the service, generating an average
of 3.4 more transactions per month, resulting in more
revenue for the bank
Thus SunTrust established that mobile banking had
contributed to increased retention, incremental card
revenue and reduced channel costs among the
value-added benefits of foundational levels of mobile
banking services.
Mobile Banking PhaseTwo: MoreTransactions
and Interaction
Most institutions plan to offer more than basic mobile
banking functionality to satisfy customer expectations,
but establishing the business case and obtaining the
budgets to implement these capabilities can be a
challenge. To prove the value of investing in a full range
of mobile banking capabilities, it is important to first
understand the aspects of mobile banking that will drive
measurable ROI. To project return on the mobile banking
investment, financial institutions should focus on the
following four value propositions:
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5. Fiserv White Paper
• Greater Mobile Adoption – The addition of each new
feature, accessible by devices with the effective
promotion of the new service, can lead to incremental
adoption. The more customers a bank can shift away
from higher cost channels to the mobile channel,
the greater the potential cost effectiveness and ROI.
Financial institutions also have the opportunity to
increase adoption by supporting the use of tablets to
conduct banking activities. Tablet support could attract
additional mobile banking users and transactions from
among those who prefer this format.
• New Revenue Sources – Financial institutions have
the potential to derive new convenience fee revenue
from consumers and merchants by offering value-
added mobile services that provide a quicker, easier
way to conduct transactions, including: emergency
bill payments, P2P payments, remote deposit capture
and merchant-funded offers.
Consumers who view next generation services as
valuable may be offered these services for free, or
be willing to pay for the convenience. Potential new
revenue sources include:
• Remote Deposit Capture – Financial institutions
can reduce direct branch costs by implementing
this capability (typically by approximately $4.00 per
transaction at a rate of approximately 15 deposits per
year, according to Fiserv client interviews).
• P2P Payments – Consumers can be asked to pay
a fee when they use their mobile device to make a
person-to-person payment. According to responses
from financial institutions, consumers may be
amenable to paying $.50 to $1.00 per transaction.
P2P payments – like bill payments – also increase
customer loyalty in measurable ways. Once friends,
family members and roommates are connected via
• Customer Base Expansion – Mobile banking can
attract new customers by positioning the institution
as innovative, in sync with the pace of today’s
households and the need for consumers to save time
and make transactions on the go.
Next Generation Mobile BankingTransactions
Now that financial institutions have experienced positive
results from early mobile banking forays, it is time to
consider adding the next generation of transactional
mobile banking services, including:
• Person-to-person (P2P) payments
• Remote Deposit Capture (RDC) of checks
• Personal offers from both the financial institution and/
or merchants based on spending behavior
• Actionable alerts via SMS or push notifications (which
allow users to respond in real-time to alerts received
from their financial institution)
• Contactless payments at the point of sale
When incremental opportunities related to transactional
services, such as two-way actionable alerts, P2P
payments and remote deposit capture are also
considered, the potential for ROI increases. Although
contactless payments at the point of sale are still in the
early stages of deployment and adoption, contactless
payments offer another potential way for financial
institutions to maximize ROI via the mobile channel.
Expansion from foundational to the next generation
of transactional mobile banking services creates
opportunities for financial institutions to achieve an even
higher ROI in two primary ways:
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6. Fiserv White Paper
market analysis can be conducted using a financial
institution’s own customers – whether via customer
focus groups or surveys to the existing customer
base – to identify preferred mobile banking offerings.
Having recent transactional data will assist in making
decisions about the features and functions to offer.
• Implement Focused Adoption Management
Programs – In a recent white paper, Fiserv identified
five factors that will drive consumer adoption of
mobile banking: usefulness, accessibility, security,
familiarity and ease of use. Ensuring that mobile
banking services pass consumer adoption criteria
will accelerate adoption and help maximize ROI.
Reviewing industry thought leadership can help
financial institutions design an effective product and
marketing roadmap and compelling campaigns to drive
adoption outcomes.
• Practice Effective Channel Management – Financial
institutions should put the tools in place to capture
data about the mobile banking behavior of customers.
Using a mobile channel dashboard will enable financial
institutions to monitor important performance
measures, such as: percent of active users, percent
of mobile banking users in relation to online banking
users and mobile transaction volumes. By monitoring
these metrics over time, financial institutions can note
growth and where adoption and use are lagging in
order to target mobile adoption marketing campaigns
on specific consumer segments (see Figure 3).
P2P, they can stop writing and mailing each other
paper checks and transaction volumes can increase
with a network effect.
• Merchant-Funded Offers – Merchants are willing to
pay fees to financial institutions when consumers pay
for their offers via their mobile devices.
• Cross-Selling – The mobile banking service provides
the opportunity to cross-sell other banking products
and services and provides a way to promote services
through the mobile channel.
Maximize the Benefits of Mobile Banking
The potential to achieve a material, measurable return
on investment from the mobile channel is real. The
following recommendations will help organizations
maximize the potential of mobile banking ROI:
• Assess and Sell the Business Case –To determine
and prioritize future investment in mobile banking
financial institutions should consider the potential ROI
of specific mobile channel products and features. To
facilitate discovery, financial institutions can engage
industry partners such as Fiserv to use proprietary ROI
modeling tools that leverage actual financial institution
data. Relying on the expertise of industry partners to
analyze customer data will help financial institutions
generate credible and quantifiable ROI projections
specific to their own institutions.
• Conduct Market Analysis and Research – Financial
institutions should conduct primary and secondary
research, particularly into new mobile banking features
and functions, and discover how the features are
perceived by distinct customer segments. The best
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7. Fiserv White Paper
So, now is the time for banks and credit unions to
consider the robustness, scalability and availability of
their mobile offering in order to get to the next level of
profitability. By offering a full complement of mobile
services, financial institutions will be positioned to
derive increased value and return from customer
relationships. In addition, through the promotion of
mobile banking capabilities, financial institutions can
attract new customers. As a result, there will more
customers making more transactions through a
lower-cost channel. The potential increase in revenue
in tandem with the reduction in costs should more
than prove the business case to fund support for next
generation mobile banking services.
Now is theTime to LeverageTransactional ROI for
the Mobile Channel
Across the industry, financial institutions such as
SunTrust Bank, are experiencing the ROI from
foundational mobile banking services. However,
although foundational services generate financial
benefits for financial institutions, there may be more
to maximizing the potential for mobile banking ROI. As
indicators point to the continued growth of the mobile
channel through the use of both smartphones and
tablets it is likely that consumers will want additional
functionality. The more features and functionality a
financial institution offers, including P2P payments ,
remote deposit capture of checks, actionable alerts,
push notifications and contactless payments, the more
likely customers are to adopt and use mobile banking.
The more customers a bank can shift to the mobile
channel, and the broader the menu of ways in which
those customers can transact, the higher the potential
ROI for the financial institution.
Figure 3: Sample Mobile Channel Performance Measures
Source: Fiserv
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9. About Fiserv
Fiserv is driving innovation in Payments, Processing Services,
Risk Compliance, Customer Channel Management and
Insights Optimization, and leading the transformation of
financial services technology to help our clients change the
way financial services are delivered. Visit www.fiserv.com for
a look at what’s next, right now.