3. Financial
Services
3
SKOPOS In a nutshell …
Digital
& Mobile
Insight &
Illumination
Full service
Bespoke/custom/ad hoc
Tracking & Syndication
UK & International
Customer Insight & UX
It’s all about the best experience…
4. Fast food
m-commerce
4
Mobile, Finance
& MFX
The Mobile Experience
in a personal finance context
including extracts from…
Darren Mark Noyce MCIM MMRS
Darren.Noyce@SKOPOS.info
Founding Partner
Scott Dodgson MMRS
Scott.Dodgson@SKOPOS.info
Head of Research, Insight, Consulting
SKOPOS market insight – City of London
Tel: 0207 953 8 359
www.SKOPOS.info
UK Active Digital Society, 2012
7. Average
number
of apps on
mobile
SKOPOS MTrack
TM
SKOPOS MTrack - Base: 378 respondents (web enabled phone users) - wave 4 data
Q17. Approximately how many apps do you have on your mobile?
M-Financers More Apptive…
20
Web enabled
phone users
Average
number
of apps on
mobile
Average
number
of apps on
mobile
27
Mobile
insurance
users
29
Mobile
banking users
7
8. 8
TV news & information 32%
Social networks 43% 2
Music 39% 4 5
News (latest today) 40% 3
Weather 52%
1 Financial news &
information 14%
16
SKOPOS MTrack
TM
The Mobile Content Countdown…
SKOPOS MTrack - Base: 521 respondents (mobile users) - wave 4 data
Q20. What types of information and content do you like to read or access via your mobile?
9. 9
Do/Accept Potential
Currently do, and
are likely to do in
the future
Are likely to do in the
future, but don’t
currently do
SKOPOS MTrack - Base: 521 respondents (mobile users) - wave 4 data
Q16. Thinking about your mobile phone(s) and/or mobile device(s) which of the following…
Finance Lagging Behind Comm’s & Content SKOPOS MTrack
TM
Download new apps 49% 23%
Order products and Services 29% 29%
Read newspapers / magazines / articles 40% 21%
Send / receive emails on your mobile 59% 19%
Use an instant messaging service 39% 26%
Use social networks 50% 14%
Bank or control finances 28% 24%
Get an insurance quote 10% 27%
Make an insurance claim 4% 22%
Some up-claim due
to voice unavoidable
10. The Rise of Mobile
Darren Mark Noyce MCIM MMRS
Darren.Noyce@SKOPOS.info
Founding Partner, SKOPOS
11. 11
SKOPOS MTrack - Base: 521 (wave 4) (UK Active Digital Society)
Q12. Where do you access the internet?
The Rise & Rise of Mobile…
0
20
40
60
80
100
120
140
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
Per100inhabitants
Mobile-cellular subscriptions per 100 inhabitants,
2001-2011*
Developed
World
Developing
12. 12
SKOPOS MTrack - Base: 521 (wave 4) (UK Active Digital Society)
Q12. Where do you access the internet?
The Rise & Rise of Mobile…
13. 13
SKOPOS MTrack - Base: 521 (wave 4) (UK Active Digital Society)
Q12. Where do you access the internet?
The Rise & Rise of Mobile APPS…
14. 14
SKOPOS MTrack - Base: 521 (wave 4) (UK Active Digital Society)
Q12. Where do you access the internet?
The Rise & Rise of Mobile WEB…
15. 15
SKOPOS MTrack - Base: 521 (wave 4) (UK Active Digital Society)
Q12. Where do you access the internet?
SKOPOS MTrack
TM
Access Internet via
Mobile Phone…
48%
Half the UK Digital Society Use Mobile Web
16. Wave
1
Wave
2
2%
Own an
iPad
Wave
3
4%
Own an
iPad/iPad 2
4%
Own an
iPad/iPad 2
9%
Own an
iPad/iPad 2
Wave
4
16
SKOPOS TabTrack - Base: 500 (wave 1), 506 (wave 2), 507 (wave 3), 521 (wave 4) (UK Active Digital Society)
Q25. Do you own a tablet?
SKOPOS TabTrack
TM
Tablets & iPad rising too…
Jan 12
17. 17
SKOPOS ChatTrack - Base: 521 respondents (UK Active Digital Society) - wave 4 data
Q30. Do you use social network sites?
Q16. Do you use social network sites on your mobile?
Almost All Use
Online Social Networks
Now half using Mobile to do so too
SKOPOS ChatTrack
TM
88%
50%
18. 18
Augmented Reality
Bar Code Scanning
(to source products and best prices etc)
Personally
used via mobile
Aware but
not used
Quick Response (QR) Codes
2% 16%
12% 36%
21% 60%
SKOPOS MTrack
TM
Usage & Awareness of Advanced
Mobile Functions low & limited, but…
SKOPOS MTrack - Base: 521 respondents (UK Active Digital Society) - wave 4 data (Jan 12)
Q22. Which of the following have you (a) heard of but NOT used, (b) personally used via your mobile (c) not
heard of?
Mobile Contactless Payment 4% 67%
Likely to use or accept a
mobile to pay with
instead of
using a credit/debit card
51%
NB: Low level, similar to Mobile Insurance Claim
19. Mobile Finance 2012
Lots of Blue Ocean…
Scott Dodgson MMRS
Scott.Dodgson@SKOPOS.info
Head of Research, Insight, Consulting, SKOPOS
20. 20
17%
15%
14%
13%
13%
12% NatWest
10% Halifax
9% HSBC
7% Santander
7% Direct Line
7% MORE TH>N
6% Aviva
4% BOS
3% Admiral
3% AXA
2% Zurich
2% Allianz
2% L&G
No Finance Brands51%
SKOPOS MTrack
TM
Comparison Sites & High Street Brands
best for mobile channel association, but…
SKOPOS MTrack - Base: 521 respondents (UK Active Digital Society) - wave 4 data
Q21c. Which, if any, of the following FINANCIAL companies/services do you most associate with the mobile and
mobile devices/channels?
21. 21
Male 48%, Female 51%
Gender
16-25: 14%, 26-40: 34%,
41-60: 45%, 61+7%
Under £10k: 10%, £10-£20K: 22%, £21-
£40k: 31%, £41-£60k:17%, £61-£80k: 7%,
£81-£100k: 1%, Over £100K: 2%,
Prefer not to say: 11%
Full time 35%, Part time 18%,
unemployed 29%, Retired 18%
Age
Household Income
Employment Status
Mobile Banking User
16-25
19%
26-40
47%
Full
time
43%
UK Active Digital Society
* Includes unemployed, self employed and student
** includes household responsibility and retired
SKOPOS MTrack - Base (wave 4 data):
- UK Active Digital Society: 521 respondents
- Mobile Banking customers: 146 respondents (those that have used their mobile to bank/control their finances )
- Mobile Insurance customers: 56 respondents (those that have used their mobile to gain a quote or make a claim)
M-Finance Users more likely to be
younger & full-time employed (but equal on gender)
SKOPOS MTrack
TM
=
Mobile Insurance User
16-25
20%
26-40
45%
£21-40K
39%
Full
time
52%
*** Caution low base for
Mobile insurance ***
=
22. 22
Why the shift in user behaviour?
1. Mobile addiction
2. Smartphone & true mobile web
3. Easy, instant, on the go access
4. Useful apps & functions
This is ingraining new sets
of daily behaviours & tasks
Availability
Usability
23. EVIDENCE: Advantages of Transacting
on Mobile Phones/Devices...
23
“Can do it whilst out and about.”
“Can do wherever...compare
prices while in-store.”
“Its quick and I can do it in my
own time.”
“No need to carry cash or
(debit/credit) cards.”
I can do it in my own time 52%
On the go 65%
Convenient 62%
No need for cash 34%
It’s easy to do 46%
Quick 45%
SKOPOS MTrack
TM
SKOPOS MTrack - Base: 327 respondents (those that had shopped/bought/paid via their mobile) - wave 4 data
Q18. What do you consider to be the advantages of using your mobile/mobile device for activities such as
shopping & paying?
24. 24
But a Fuzzy Mobile User Experience for
Finance – MFX- persists…
Scott Dodgson MMRS
Scott.Dodgson@SKOPOS.info
Head of Research, Insight, Consulting, SKOPOS
25. 25
Mobile: currently the worst channel for customer experience
Purchase channel
quality of the customer experience
Planned investment in customer
channels this year
• As m-commerce grows, so does the importance of the user experience
• Only 9% stated that the m-shopping customer experience was good
• 83% of m-shoppers encountered some kind of problem
• Retailers need to make mobile checkout as easy as possible
Reducing Customer Struggle Report
- June 2011
26. 26
Mobile Web: Only 20% of FTSE 100 Websites Support Mobile !
Source:
http://www.fourthsource.com/m
obile/why-your-website-needs-a-
tailored-mobile-presence-now-
7045
27. 27
Lack/loss connectivity 46%
Small screen 63%
“It’s not always easy to navigate
around sites if not set-up for mobile
use.”
“It makes everything very
impersonal..no need for
shops/shopworkers.”
“You can’t really see what you’re
buying and what size it is.”
Time, it takes longer 28%
Security 44%
Difficult to navigate sites/apps 33%
SKOPOS MTrack - Base: 327 respondents (those that had shopped/bought/paid via their mobile) - wave 4 data
Q19. What do you consider to be the disadvantages of using your mobile/mobile device for activities such as
shopping & paying?
EVIDENCE: Disadvantages of Transacting
on Mobile Phones/Devices...
SKOPOS MTrack
TM
Simply Security (perceptions) & Usability
28. 28
Tablet 10%
Desktop
Computer
63%
Connected TV 3% Games device 2%
Laptop 60%
SKOPOS MTrack - Base: 521 respondents (UK Active Digital Society) - wave 4 data
Q45. Thinking about online payments/shopping, which of the following devices do you believe to be the most
secure?
SKOPOS MTrack
TM
Mobile devices seen as less secure…
11%
Mobile /
Smartphone
29. Mobile Banking Customer
29
Last mobile banking experience
“It was easy and simple but most of all convenient”
Lloyds TSB
“Easy to transfer money between account and safer with
self generating code device”
HSBC
“I use it often as I like to check for charges or anything
coming off, etc. I use an app and its perfect for checking
balances or transferring funds. It works well however the
connection when I'm out and about is sometimes very
slow. However the transfer is immediate.”
Bank of Scotland
“The same as using a laptop or desk top although when
using a mobile you can get randomly logged out.”
Nationwide
SKOPOS MTrack
TM
SKOPOS MTrack - Base (wave 4 data):
- UK Active Digital Society: 521 respondents
- Mobile Banking customers: 146 respondents (those that have used their mobile to bank/control their finances )
- Mobile Insurance customers: 56 respondents (those that have used their mobile to gain a quote or make a claim)
The M-Finance customer experience
has considerable scope for optimisation
47%
Not
good
53%
Good
Last experience of gaining a mobile insurance quote
“Used web browser. My browser is quite good and the
specific website's platform compatible.”
Bell
“Simple”
Aviva
“Get slow results”
Compare the Market
“Was very slow”
Go Compare
“Took too long to fill out the online form. To small on my
mobile so ended up using my iPad.”
Dial Direct
Mobile Insurance Customer***
*** Caution low base for
Mobile insurance ***
71%
Not
good
29%
Good
30. Mobile Banking Customer
30
SKOPOS MTrack
TM
Last mobile banking experience
SKOPOS MTrack - Base (wave 4 data):
- UK Active Digital Society: 521 respondents
- Mobile Banking customers: 146 respondents (those that have used their mobile to bank/control their finances )
- Mobile Insurance customers: 56 respondents (those that have used their mobile to gain a quote or make a claim)
The M-Finance customer experience
- Banking more Mature than Insurance?
Mobile Insurance Customer***
*** Caution low base for
Mobile insurance ***
Last experience of gaining a mobile insurance quote
31. 31
Frustrations with passwords and log-in
details when using mobile finance
SKOPOS MTrack
TM
“It is time consuming and cumbersome, but
necessary to prevent against fraud etc if my
mobile is lost or stolen”
“If they require pass codes, cannot take your
card reader with you”
“Remembering them! its ok saying that they all
need to be different but when you log into so
many different accounts on a daily or weekly
basis its a nightmare remembering them. Most
people end up having them written down which
defeats the object. Getting stuff reset is then
normally a real pain ”
“Sometimes they insist on letters numbers and
capital letters which can be complicated to
remember ”
“small screen and keyboard
causes wrong key entry”
SKOPOS MTrack - Base: 146 Mobile Banking respondents (UK Active Digital Society) - wave 4 data
Q37d. What, if any, frustrations do you have with providing passwords and log-in details when using mobile
banking
34. 34
Even QR Codes often disappoint…
Obtained QR codes from...
Magazines: 41%Newspaper: 26%
Other: 43% TV: 11%
Experience using QR Codes
24% Poor Good 28%48%
Reasons for not using
QR or 2D Bar-Codes…
• Phone has no capability 39%
• Don’t know how to 30%
• No interest 15%
• Have not seen any before 8%
SKOPOS MTrack
TM
SKOPOS MTrack - Base: 46 respondents (All that had used a QR code) - wave 3 data / 259 respondents (non QR code users)
Q21e. How would you rate your experience of using QR/2D barcodes on your mobile?
Q21c. Why have you not used a QR/2D barcode on your mobile?
35. 35
Our Main Mobile Messages…
Darren Mark Noyce MCIM MMRS
Darren.Noyce@SKOPOS.info
Founding Partner, SKOPOS
36. 36
Increased
mobile security
Reassurance
from bank
65%
45%
Incentives 21%
Advertising /
promotions
2%
Personal
demonstration 5%
Paying for
phone security 6%
None
(rejectors) 24%
SKOPOS MTrack
TM
Key M-Finance Usage Drivers
SKOPOS MTrack - Base: 375 respondents (all that don’t current use mobile banking) - wave 4 data
Q37. What, if anything, would encourage you to start using your mobile phone for banking/controlling your
finances?
1/. Confidence
Simple to use
app/website 27%
Larger screen
on mobile
27%
2/. Usability
Non Users Only
37. 37
SKOPOS Guidance for Optimised MFX SKOPOS MTrack
TM
“Are there Insurance apps?”
“Being able to point device at an
advert which then turned into a
real time movie app.”
“Make an app that you could type
your shopping list & they could tell
you if the products were in stock
instead of browsing
for what you want.”
Improve Awareness
Access/Visibility/Education
Mobile has momentum and cannot be ignored as part of a multi-channel customer journey
“Make payment secure, and
convince me that it is.”
“Send barcodes so that cash doesn’t
need to be used or have an app for
their stores that can be scanned and
money automatically deducted.”
Improve security,
reassurance,
confidence
“I want quicker loading times
and fewer links.”
“Was very slow”
Go Compare
“Took too long to fill out the online
form. To small on my mobile”
Improve usability
39. 39
SKOPOS MTrack - Base: 521 (wave 4) (UK Active Digital Society)
Q. O/S and Device code auto-captured.
SKOPOS MTrack
TM
7% completed this survey via a mobile device
Mobile (5%)/Tablet (2%)
PC/Mac
41. Fast food
m-commerce
41
Mobile, Finance
& MFX
The Mobile Experience
in a personal finance context
including extracts from…
Darren Mark Noyce MCIM MMRS
Darren.Noyce@SKOPOS.info
Founding Partner
Scott Dodgson MMRS
Scott.Dodgson@SKOPOS.info
Head of Research, Insight, Consulting
SKOPOS market insight – City of London
Tel: 0207 953 8 359
www.SKOPOS.info
UK Active Digital Society, 2012
