Mobile Banking Emerging Trends


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Emerging trends in mobile banking

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  • How banks have changed over the yearsBranch bankingATMOnline bankingCall centerThe reasons for this have been cost, customer retention, customer satisfaction. Why they have not yet achieved all these so far is infrastructure, regulatory concerns, wrong way of understanding the customer, late technology adoption and general reluctance to their traditional way of working
  • Anecdote of alert before filling the gas or maybe an alert that you have to fill the gas. Mobile will touch and every part of lives. It would be an extension to our senses.
  • GSMA - estimates Mobile Money to be a $5+ Billion opportunity by 2012Frost & Sullivan – The mobile money market in Western Europe is forecast to increase to € 4-5 billion by 2013ABI Research – predicting that in 2015, $119bn worth of goods and services will be purchased via a mobile phone. In Japan, which has one of the most vibrant mobile markets, mobile commerce "exceeded $10 billion" in 2009Juniper Research - the number of consumers accessing banking services and products via their mobile phones will reach 816 million by 2011, a tenfold increase on the number using such services in 2007, Annual number of global mobile banking transactions will rise from 2.7 billion in 2007 to 37 billion by 2011, as a greater number of services are deployed worldwideKPMG - The global mobile money transfer market could grow to $21 billion by 2011Juniper Research – The international mobile money transfer market will be worth in excess of $65 billion by 2014 driven principally from migrant workers based in developed countriesGartner - mobile payment is a service at an early stage with an expected 32.9 million users worldwide in 2008, growing to 103.9 million users in 2011Edgar, Dunn & Company GSMA Research - mobile wallets are expected to be used by over 600 million people by 2011, rising to 1.4 billion in 2015M-commerce might leapfrog e-commerce in time to come. We are already seeing a lot of moves from retailers themselves. This includes a plain vanilla app store to integrating the whole back end store ordering process, to instore merchandise pricing to ordering them through the phone.A classic example is an app that allows you to prepare your store buy wishlist and than when you visit the store, it guides you on where those items are kept. By the time you check out it already builds the invoice and you can pay through your phone itself.In mobile payments the dominant method currently is SMS however with increasing adoption of NFC this will gain traction. Asia pac has taken mobile payments while US and EU already have established infrastructure however with new and emerging technologies and involvement of existing players this will gain adoption in US and EU as well
  • Population, mobile penetration, mobile worker population
  • Fairly experimented across the globe since last 10+ years. Now it covers a broad spectrum of all the personal financial services that are possible through other direct channels. Mobile phones using NFC have also enable mobile walletSome apps and add-ons are available for credit card paymentsBar code technology for coupons, tickets, shopping, vouchersAll sectors can be covered
  • Unlike pc’s where the Windows OS and mac ruled the mobile landscape is littered with multiple platforms having their own advantages and disadvantages. This requires a mobile banking playerTo either target one specific user group develop compatible technology for all this kind of technology landscapeVarying operator standards, bandwidth, regulations etc
  • Whether a platform can bring together all these set of services. Universality on both sides. Rapid changes in technology
  • Infrastructure – why would somebody kill the golden gooseMature technology – security is mature enough and same as internet banking
  • Banxafe, a service of the Belgian Banksys company plans on implementing payment by mobile. Banxafe works together with the big Belgian mobile operators (like Base, Mobistar and Proximus). This systems allows you to pay your coffee or even buy a car with a few simple taps on your mobile.All these infrastructure players are important for the success of mobile banking, payments and commerce strategy
  • What demands what
  • Local or global in scope, Zylog Systems Limited is your technology partner. We are ready to empower your company to emerge from economic challenges and evolve as an industry leader with reliable, caring, and experienced support professionals. Contact us right away to find out how we can apply our services to meet your needs.
  • Mobile Banking Emerging Trends

    1. 1. Mobile TechnologyEmerging Trends: Banking and Financial Services<br />Vishal Jain<br />Version 01a, 17 March 2010<br />Presented at the Indian Business Chamber of Luxembourg<br />
    2. 2. Personal Banking as we know<br />Source: www.cartoonstock.comCopyright <br />
    3. 3. Mobile Managing your Money and More<br />Bob's.ppt<br /><br />Copyright 2002<br />-All Rights Reserved-<br />FasterCard<br />0800 424000 77870<br />Ekaf Eman<br />Exp: 12 09<br />Bob's.ppt<br /><br />Graphics by Bob<br /><br />1<br />2<br />3<br />4<br />5<br />6<br />7<br />8<br />9<br />*<br />0<br />#<br />Stock tips, news feeds, balance alert<br />Trade confirmation, portfolio enquiry<br />Transaction alert<br />Bill reminder, pay bills, transfer funds<br />Buy grocery, pay using your phone<br />All body senses<br />isee<br />ihear<br />Ismell<br />itouch<br />Italk<br />Book your ticket, travel with a bar coded ticket on phone<br />
    4. 4. Forecasts<br />Juniper Research<br />Frost & Sullivan<br />KPMG<br />GSMA<br />2011<br />Mobile Money Transfer Market<br />$21 Billion<br />2012<br />Mobile Money Market<br />$5+ Billion<br />2014<br />Mobile Money Transfer Market<br />$65 Billion<br />2013<br />Mobile Money Market (Western Europe)<br />€4-5 Billion<br />ABI Research<br />Juniper Research<br />GSMA & EDC<br />Gartner<br />2011<br />Mobile Payments<br />103.9 Million users<br />2015<br />Mobile Wallets<br />1.4 Billion users<br />2011<br />Mobile Banking<br />816 Million users<br />37 Billion transactions<br />2015<br />Mobile Commerce<br />$119 Billion<br />Source: Edgar, Dunn & Company<br />
    5. 5. The imperative<br />Source: TowerGroup<br />Source: ITU<br /><ul><li>960 million mobile subscribers in Europe
    6. 6. Forrester - By 2014, nearly 40% of consumers in Western Europe will be tapping into the web via their mobile phone
    7. 7. ITU - the number of mobile cellular subscriptions globally to reach five billion this year
    8. 8. IDC - world's mobile worker population will pass the one billion mark this year and grow to nearly 1.2 billion people - more than a third of the world's workforce - by 2013
    9. 9. Eurostat – around 30% of women and 35% of men in the EU region used the internet banking (exception being Nordic, Lux and Estonia – 65%+ users)
    10. 10. IMS Research - Smartphone shipment growth is expected to accelerate in the future at a CAGR of 24.5% between 2010 and 2015</li></ul>Source: Eurostat, 2008<br />
    11. 11. So what is mobile technology in banking and financial services<br />Banking<br />---BANK---<br />Are you sure you want to transfer USD 50 to Navin? Send TPIN to confirm<br />Payments<br />Commerce<br />
    12. 12. Why is mobile technology different<br />
    13. 13. Does it stick together<br />Merchant<br />SMS<br />Telecom Operator<br />Mobile Application Platform<br />App<br />Bank<br />Browser<br />Financial Institution<br />NFC<br />Government<br />
    14. 14. Are we ready<br />Cross Industry Partnership<br />Mature technology<br />Consumer Attention<br />Affordable Data Plans<br />Banking<br />Adoption<br />Mobile<br />Mass Scale<br />Tight Capital<br />Monetisation on existing infrastructure<br />Clarity of regulations<br />Legacy Infrastructure<br />AML/KYC Concerns<br />
    15. 15. So who is doing what<br />Device/ancillary Manufacturers<br />Financial Network<br />MVNO<br /> + <br />Mobile Financial Services<br />Retail<br />Network<br />Bank<br />Network<br />Telecom<br />Network<br />Independent<br />Mobile Financial Services<br />
    16. 16. Emerging Technology Landscape<br />ATM<br />Mobile<br />UI<br />Branch<br />Banked<br />ATM<br />+<br />Internet<br />+<br />Branch<br />Internet<br />NFC<br />SMS<br />SMS<br />Mobile<br />UI<br />SMS<br />Agents<br />Agents<br />Mobile<br />UI<br />SMS<br />Unbanked<br />Emerging<br />Developed<br />Secondary<br />Focal touchpoint<br />
    17. 17. Drivers for adoption<br /><ul><li> Speed
    18. 18. Affluence </li></ul>Banked<br /><ul><li> Usability
    19. 19. Convenience
    20. 20. Viability
    21. 21. Security
    22. 22. Security
    23. 23. Cost of delivery
    24. 24. Convenience
    25. 25. Cost of delivery
    26. 26. Convenience
    27. 27. Mainstream</li></ul>Unbanked<br /><ul><li> Cost of delivery</li></ul>Emerging<br />Developed<br />
    28. 28. Zylog<br />Ranked 68 amongst the <br />Top 500 Indian IT companies<br /><ul><li> First to demonstrate wireless solutions in the Middle East in 2000
    29. 29. 10 years of experience in mobile deployment for banking and financial services
    30. 30. Bank.Companion – Zylog’s proprietary end to end mobile platform available in North America, Europe and Asia
    31. 31. Live in 40 Banks and Financial Institutions, 10+ government establishments, 10+ media houses, 20+ large enterprises, 10 telecom operators
    32. 32. Exclusive partner of Dubai e-government for Wireless Enabling of all the Government Departments in the UAE
    33. 33. Working with the top 3 banks in our installed markets
    34. 34. Around a million users are currently subscribed to our mobile platform</li></li></ul><li>Contact Information<br />Thank You<br />Q&A<br />Europe Headquarters<br />271-273 King Street, II Floor<br />London House, Hammersmith<br />London W6 9LZ<br />Phone: +44 (0) 20 8846 9922<br />Web:<br />Vishal Jain<br />Regional Manager<br />Banking & Financial Services<br /><br />+44 (0) 75 0732 9407<br />Development Centre <br />155, Thiruvalluvar Salai<br />Kumaran Nagar, Sholinganallur<br />Chennai, India 600 119<br />Phone: +91 44 3915 7000<br />Asia Pacific Headquarters<br />#13-09 Ngee Ann City Tower B<br />391B Orchard Road<br />Singapore 238874<br />Phone: +65 6238 1401<br />Global Headquarters<br />85 Lincoln Hwy<br />Edison, New Jersey<br />United States, 08820<br />Phone: 732-549-9770<br />