Successfully reported this slideshow.
Driving Innovation in the Banking andInsurance Industries     with Mobile                       1
About Us: Strongback Consulting•         IBM Advanced Business Partner             –        Rational, WebSphere, Lotus, In...
Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Buil...
Mobile applications present an enormous set of opportunities…       Business to Consumer                        Business t...
Mobile is a top priority on CIO’s list      Most important visionary plan elements (Interviewed CIOs could select as many ...
The scope of mobile banking projects falls into 3 categories Informational   • Checking account balance   • Checking tran...
Customer mobile banking needs in developed markets Mobile users today expect access to the same information they have on ...
Mobile opportunities in the Insurance Industry      Insurers setting strategies to capitalize on abundance of continued d...
Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Buil...
Multichannel Customer Experience for Banking and InsuranceImprove your customer experience, reduces inefficiencies and all...
Customer focused enterprises are truly delivering a superiorcustomer experience by:                                       ...
Back-end system integration considerations for mobile apps                                                                ...
Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Buil...
Mobile applications are very different than PC or server-basedapplications Why is mobile different?  User interface & hard...
Functionality unique to mobile banking/insurance on smartphones   Mobile + Social + (Person to Person (P2P) Payment for ba...
Payments considerations for mobile IBM Point-of-View                                                           Basic payme...
Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Buil...
3 models of mobile banking/insurance application to choose from – Web, Hybrid & Native                                    ...
Building an enterprise mobile application is more than just writing thecode    Specific challenges in building mobile apps...
Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Buil...
Rational takes a two-pronged approach to help customers deliver enterprise mobile applications successfully  Trends in Mob...
Customer Story: ING Direct CanadaReaching mobile banking customers with IBM software and services     Runs on      iPhone...
Banking and Insurance companies face a number of challenges indriving Innovation with Mobile    Mobile applications are g...
Rational accelerates delivery of enterprise mobile applications  Client Initiatives                  Build mobile         ...
Worklight is a Mobile Application Platform (aka MAP or MEAP)                               Worklight Studio               ...
RTC – Worklight Build Engine Integrationprovides a controlled build environment for mobile apps – both native and hybrid  ...
Addressing mobile testing challenges using Rational Quality Manager(RQM), Green Hat and “DeviceClouds” Client Tier Devices...
Subscribe to us at                    http://feeds.feedburner.com/StrongbackConsulting                     Discover us at:...
Resources for Learning Other Case Studies and Technology Examples •          http://www.slideshare.net/strongback/how-a-ta...
Upcoming SlideShare
Loading in …5
×

Driving innovation in banking and insurance

1,275 views

Published on

Mobile Banking and Insurance applications and enablement.

Published in: Business
  • Be the first to comment

Driving innovation in banking and insurance

  1. 1. Driving Innovation in the Banking andInsurance Industries with Mobile 1
  2. 2. About Us: Strongback Consulting• IBM Advanced Business Partner – Rational, WebSphere, Lotus, Information Management certified – Strongly focused on Enterprise Modernization and application lifecycle management – Key Industries Served: Finance, Insurance, Healthcare, Manufacturing, Travel & Leisure – Rational Design Partner for HATS and other Rational enterprise modernization technologieswww.StrongbackConsulting.com
  3. 3. Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Building enterprise mobile apps How Rational solutions can helpwww.StrongbackConsulting.com
  4. 4. Mobile applications present an enormous set of opportunities… Business to Consumer Business to Enterprise  Improve customer satisfaction  Increase worker productivity  Deeper customer engagement and loyalty  Improved claims processing  Drive increased sales through  Increase revenue through sales engagements Personalized offers  Extend existing applications to mobile workers  Customer service and customers  Competitive differentiator  Reducing fuel, gas, or fleet maintenance costs  Improve brand perception that are relevant in particular industries  Deeper insight into customer buying  Increase employee responsiveness and behavior for up sell and cross sell decision making speed  Improve in store experience with mobile  Resolve internal IT issues faster concierge services  Reduce personnel cost (utilizing personal owned instead of corporate issued devices)www.StrongbackConsulting.com
  5. 5. Mobile is a top priority on CIO’s list Most important visionary plan elements (Interviewed CIOs could select as many as they wanted) 83% Business Intelligence and analytics 81% 74% Mobility solutions 76% 58% Risk management and compliance 72% 68% Virtualization 70% 60% Business process management 70% 57% Self-service portals 53% 55% Collaboration and Social Networking 48% 60% Cloud computing 48% Global sample Banking Source: 2011 CIO Study, Q12: “Which visionary plans do you have to increase competitiveness over the next 3 to 5 years?”; Global sample (n=3,018); Banking (n=311)www.StrongbackConsulting.com
  6. 6. The scope of mobile banking projects falls into 3 categories Informational • Checking account balance • Checking transaction history • Receiving alerts (balance, transaction limits, etc.) • However, this provides limited revenue potential for payments providers and, for the most part, is already included in current retail banking offering. Transactional • Transferring money to another person • Paying for goods and services • Paying utility bills • Receiving remittances • This has a large revenue potential in growth markets, but there are potential adoption hurdles in developed markets, which are highly regulated. Value Added Services • Receiving coupons based on device location • Transaction flagging for fraud detection • Accessing goods and services of cross industry offerings (retail, health services, travel, etc.) • In these cases, there is a large revenue potential in developed markets, as these services usually require richer/ more secure client sessions and consequent device and network infrastructures.www.StrongbackConsulting.com
  7. 7. Customer mobile banking needs in developed markets Mobile users today expect access to the same information they have on the desktop, in a mobile-friendly format Most customers already happily use mature payments instruments Need to provide persuasive value propositions in the form of : •direct savings, for example, receiving coupons based on device location OR •significantly improved experiences that are more relevant, Safer, Faster, Cheaper.Customer mobile banking needs in growth marketsIn many growth markets, including the BRIC countries (Brazil, Russia, India, China)over 90% of transactions are still in cashBy far the largest mobile opportunity is replacement of these cash transactionswww.StrongbackConsulting.com
  8. 8. Mobile opportunities in the Insurance Industry Insurers setting strategies to capitalize on abundance of continued double-digit growth of mobile devices across all regions.• Functionality will focus on:Connecting with the customer for: Connecting with the field force/agents • Sales/pricing for: • Pay bills • Sales/pricing (of life policies) • Initiating/managing claims • Claims assessing • Even roadside assistance • Marketing materials • ComparisonsAlready insurers are deliveringapps for accident claims that can beused at the accident location In Growth Markets, we are seeing an increase in Insurance premium income, in line with increasing prosperity. As most transactions in these countries are in cash, there is a great opportunity for paying Insurance bills via mobile channels Also, societal and government pressure to offer micro-insurance to poor rural populations www.StrongbackConsulting.com
  9. 9. Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Building enterprise mobile apps How Rational solutions can helpwww.StrongbackConsulting.com
  10. 10. Multichannel Customer Experience for Banking and InsuranceImprove your customer experience, reduces inefficiencies and allow for betterengagement with customers.  Enable multichannel applications  Deliver rich functionality and improved Point of sale user-friendliness Web Branch  Deploy customer business processes that (Bank) span across different channels Social Kiosk  Enhance Internet banking and insurance Media with Web 2.0 technologies Apps SMS  Provide banking/insurance Customer anytime, anywhere on any mobile device Email Chat  Reinvigorate individual channels and harmonize different channels Voice  Reuse technological and business components common to multiple channelswww.StrongbackConsulting.com
  11. 11. Customer focused enterprises are truly delivering a superiorcustomer experience by: Engaging customers in insightful conversations Not just providing a pleasant banking/insurance experience Organize Information Providing consistent, cross-channel experience The same as they get from retailers and airlines – including Point of Sale self-service, mobile, social, etc. Capture Analyzeand Notice Web Branch and Derive Capturing every customer moment of truth Social Kiosk In real-time across both staffed and automated channels, and Media trigger appropriate actions Apps SMS Customer Marketing and selling based on customer events Optimize Email Chat Gain Progress from mass marketing to precise, event-basedInteraction Insight marketing with customer information and predictive analytics Voice and at the same time Lowering operational expenses… Achieve superior customer experience and lower operational expenses through process optimization and balancing channelswww.StrongbackConsulting.com
  12. 12. Back-end system integration considerations for mobile apps IBM Point-of-View BRANCH CALL CENTER SELF SERVICE ELECTRONIC Full Service Inbound ATM Web, Wireless Supermarket Outbound Kiosk Field force, The real-time and always- Mobile Bankers agents on feature highlights the importance of cross-channel Channel experience. For Security & Access example, when customer Integration receives a push notification Reusable Components on her iPhone, she expects the call center to know Analytics & Intelligence about it too. Service Invocation IBM Point-of-View Enterprise Services Bus Channel integration provides precious insights into channel intelligence as well as increasing the effectiveness of DEPOSITS LOANS PARTNERS PARTNERS cross-selling and campaign delivery. Information Integrationwww.StrongbackConsulting.com
  13. 13. Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Building enterprise mobile apps How Rational solutions can helpwww.StrongbackConsulting.com
  14. 14. Mobile applications are very different than PC or server-basedapplications Why is mobile different? User interface & hardware needs Customer driven needs Mobile hardware and user interfaces evolve much  Mobile users require efficient and timely faster than the typical enterprise software cycle access to information  Interactions are short and  User interfaces must be easy and obvious focused, interruptions are common  Screen real-estate is precious  Social interactions are important  Typing should be minimized  Timeliness of data must be communicated  Battery life needs to be long and monitored  Often used for monitoring as opposed to during usage active consumption  Devices are often exclusively touch-based  Applications must still be usable when out of wireless coverage  Security is critical Mobile users today expect high-fidelity access to the same information they have on the desktop, presented in an easy-to-learn, mobile-friendly (often touch-friendly) format.www.StrongbackConsulting.com
  15. 15. Functionality unique to mobile banking/insurance on smartphones Mobile + Social + (Person to Person (P2P) Payment for banking) IBM Point-of-View FIs need a business model that takes advantage of the fact that a mobile phone may be the only thing many people keep within arm’s reach all day. For example, expense tracking combined with mobile payment and bill-pay is a very “sticky” feature. Many FIs already have in place a basic Mobile solution (statements, transfers, auto claims etc). FIs need to go one step further and visualize the new services that will add value to both, customers and FIs, by using mobile devices.www.StrongbackConsulting.com
  16. 16. Payments considerations for mobile IBM Point-of-View Basic payment functions (e.g., bill- >9 Stakeholders must cooperate pay, international remittance) should be offered with convenience. Business model for advanced features such as mobile wallet, Near Field Communication (NFC) and P2P payment differ Bank, Insurer from country to country depending on factors incl. regulations and cross-industry dynamics among Chip / Payment telcos, payment network operators and leading handset banks. These represent the biggest future Network manufacturers opportunity for banks. Banks, insurers must have a game plan in place and be prepared for the Application market development.. providers Consumer Business model questions  Who owns the customer?  Bank/insurer or telco centric model? Payment Telco  How to share revenue? processors  First-mover advantage or wait? Transit  Alone or partner? Merchant,  Who holds the payment risk? Agent  What regulations apply? Technological questions  Is the technology stable and secure?  How will chips get onto handsets?www.StrongbackConsulting.com
  17. 17. Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Building enterprise mobile apps How Rational solutions can helpwww.StrongbackConsulting.com
  18. 18. 3 models of mobile banking/insurance application to choose from – Web, Hybrid & Native Recommended Web Hybrid  Native IBM Point-of- View Dev cost Reasonable Reasonable Expensive Hybrid approach can achieve the look-and- feel and rich functionality Dev time Short Short Long of native apps, while lowering the cost to App High High None develop for multiple portability OS/versions as well as on-going maintenance Native speed and upgrades. Performance Fast if needed Very Fast Native No All All functionality App store No Yes Yes distribution Extensible No Yes Yeswww.StrongbackConsulting.com
  19. 19. Building an enterprise mobile application is more than just writing thecode Specific challenges in building mobile apps: Imperatives from line of business & customers • Strong demand by Line of Business • Customers expect higher quality of user experience with mobile apps • More direct involvement from users/stakeholders in design Fragmentation of technology and platforms • Highly fragmented set of mobile devices and platforms • Native programming models not portable across devices. • Very large number of configurations of devices, platforms, carriers, etc. to test How do you develop for and test Urgent time-to-market, rapid pace of innovation against multiple platforms • Mobile landscape evolves at a much faster pace effectively? • More frequent releases and updates for apps with more urgent time-to-market demands How do you align business and • Lack of best practices guidance on how to deliver mobile development to deliver apps that applications delight users How do you gain control of your development process and accelerate time to delivery?www.StrongbackConsulting.com
  20. 20. Agenda Mobile apps in Banking and Insurance Mobile and multichannel considerations Unique features of mobile apps Building enterprise mobile apps How Rational solutions can helpwww.StrongbackConsulting.com
  21. 21. Rational takes a two-pronged approach to help customers deliver enterprise mobile applications successfully Trends in Mobile Apps Development Strong customer demand for more sophisticated and integrated mobile banking and insurance capabilities Technology is changing rapidly alongside Banks/insurance companies need to develop enterprise mobile apps faster and more cost effectively, with agility and quality Integrated tools are required to help plan, define, design, build and test the apps.1. Rational CLM helps customers manage your 2. Mobile specific-capabilities help customersdevelopment lifecycle: accelerate your development and test:  Traceability of development activity across entire project lifecycle  Code construction tool using web-based technology to  Real-time planning that is consistently accurate and up-to- write multi-platform applications date  Distributed builds of mobile applications  Tightly integrated with mobile code development  On-device functional testing of mobile applications capabilities  Centralized code sharing and distributed mobile app build Mobile-specific:  Integrate and manage full range of mobile testing tools and techniques Design Code Security Test Traceability across the development lifecycle Open platform for integrated development lifecycle www.StrongbackConsulting.com
  22. 22. Customer Story: ING Direct CanadaReaching mobile banking customers with IBM software and services  Runs on iPhone, iPad, and BlackBerry  Provides remote banking for ING Direct customers  A collaborative effort between ING DIRECT and IBM GBS The solution extends the ING DIRECT Canada transactional Web infrastructure based on  IBM WebSphere Application Server  IBM Rational Application Developer 7.5 and Rational Software Architect 7.5www.StrongbackConsulting.com
  23. 23. Banking and Insurance companies face a number of challenges indriving Innovation with Mobile  Mobile applications are growing rapidly across all industry segments  Mobile applications are very different than traditional PC or server based applications  Challenges of enterprise mobile application development • Need to provide seamless multi-channel experience and integrate with back-end systems • Traditional application development challenges remain • Mobile application operating systems are fragmented – across Apple, Android, RIM etc. • Need to test across many different devices and operating systems www.StrongbackConsulting.com
  24. 24. Rational accelerates delivery of enterprise mobile applications Client Initiatives Build mobile Manage mobile Extend existing applications devices and business capabilities Connect to, and run applications to mobile devices backend systems in Secure my mobile Transform the support of mobile business business by creating new opportunities Rational helps customers build enterprise mobile applications that: • Run on multiple mobile devices Rational Collaborative • Connect to enterprise back-end Lifecycle Management – applications and information systems accelerating mobile app • Deliver high quality user experience development across platforms • Fulfills fast time-to-market requirements • Are rapidly updated with new releaseswww.StrongbackConsulting.com
  25. 25. Worklight is a Mobile Application Platform (aka MAP or MEAP) Worklight Studio An extensible environment with maximum code reuse and per-device optimization Worklight Server Unified notifications, runtime skinning, version management, security features, integration and delivery Worklight Runtime Components Extensive libraries and client APIs that expose and interface with native device functionality and the Worklight server ← Worklight Console A web-based console for real-time analytics and control of your mobile apps and infrastructurewww.StrongbackConsulting.com
  26. 26. RTC – Worklight Build Engine Integrationprovides a controlled build environment for mobile apps – both native and hybrid Studio Team Concert Client Build SCM Team repository of apps executables, l source ogfiles Builder RIM Android iOS SDK SDK SDKwww.StrongbackConsulting.com
  27. 27. Addressing mobile testing challenges using Rational Quality Manager(RQM), Green Hat and “DeviceClouds” Client Tier Devices Middle Tier Server Back-end Data & Services Testing Challenges Solutions 1. The number of different mobile 1. Use test-coverage optimization from RQM devices 2. Isolate the other tiers of the app using 2. Middle tier and backend set up Green Hat and concentrate on the mobile 3. Accessing physical device code devices/networks for testingwww.StrongbackConsulting.com
  28. 28. Subscribe to us at http://feeds.feedburner.com/StrongbackConsulting Discover us at: http://www.strongback.us Socialize with us on Facebook & LinkedIn http://www.facebook.com/StrongbackConsulting http://www.linkedin.com/company/290754 Watch Us at Youtube http://www.youtube.com/user/strongbackconsulting https://vimeo.com/user7519232 Call us at: 904-351-6658www.StrongbackConsulting.com
  29. 29. Resources for Learning Other Case Studies and Technology Examples • http://www.slideshare.net/strongback/how-a-tactical-hats-solution-became-a-strategic-asset-a-customer-story • http://www.slideshare.net/strongback/innovate2012-modernize-host-applications-for-mobile-devices • http://www.slideshare.net/strongback/build-smarter-user-interfaces-for-legacy-applications-with-ibm-rational-host-access- transformation-services • http://www.slideshare.net/strongback/rational-hats-and-his-v8-overview • http://www.slideshare.net/strongback/ibm-innovate-2011-what-every-system-i-developer-needs-to-know 29www.StrongbackConsulting.com

×